Shriram Life Savings Plans Coverages

In a money-back policy, survival benefits are paid during the policy tenure. These benefits pay earnings at regular intervals, thus helping create a source of liquid funds.

An additional education support benefit is available on maturity under a couple of savings plans. This benefit provides an additional corpus for the child's education needs and can be received at a flat rate or increasing rates of payouts. 

Inbuilt riders are available for additional coverage and they pay an additional benefit in certain situations.

For instance, an accidental benefit rider might be inbuilt under some Shriram Life Savings Plans. Under these policies, an additional sum assured is paid in the case of accidental demise. 

Shriram Life Savings Plans provide up to four optional riders for enhanced protection. Depending on the plan selected, the following riders can be selected -

• Accident Benefit Rider

This rider covers accidental demise and permanent total disablements during the policy tenure and pays out the sum assured in a lump sum. Moreover, in the case of permanent disability, future premium payments are waived.

• Family Income Benefit Rider 

This rider also covers accidental demise and disablement. However, in either of these instances, the rider sum assured will be paid in instalments for a minimum of 10 years.

• Shriram Extra Insurance Cover Rider

This allows an additional cover against premature demise. If the insured passes away during the policy tenure, the rider sum assured is paid in a lump sum.

• Shriram Life Critical Illness Plus Rider

This rider allows coverage against 24 critical illnesses. If the life insured suffers from any of the specified illnesses during the tenure, the rider sum is paid in a lump sum.