Term Insurance Protection at Affordable Premiums with Shriram Life Saral Jeevan Bima
Premium Components of Shriram Life Saral Jeevan Bima
Shriram Life Saral Jeevan Bima is a pure protection policy with no saving element. As such, the premium of the policy is made up of three main components:
The risk premium is the basic premium charged for the coverage offered by the plan. The plan covers the risk of premature demise, for which a risk premium is paid. The risk premium is affected by your age, medical history, lifestyle history and the coverage details you choose.
Accident Benefit Rider (Add-On) Premium
The optional Accident Benefit Rider is available with Shriram Life Saral Jeevan Bima. This covers the risk of accidental demise or permanent total disability and pays 100% of the rider sum assured in either of these cases. Moreover, in the case of accidental disability, future premiums are also waived. Riders are add-on coverage features that attract an additional rider premium if selected.
Shriram Life Saral Jeevan Bima allows premium rebates if you choose a sum assured of ₹15 lakhs or above. The rebate helps in reducing the premium outgo and forms an important component of the premium.