Shriram Life Wealth Plus Plan Your Insurance and Saving Partner
Key Features and Benefits of Shriram Life Wealth Plus Plan
Here are the features of the ShriramLife Wealth Plus plan:
You are allowed to encash or withdraw a part of the fund during the tenure of the policy. This is known as partial withdrawal. It is allowed only after the fifth year of the policy after all the premiums for the first 5 years have been paid.
You are allowed to enhance your coverage by opting for top-up premiums. Each top-up premium shall be considered a single premium and must have insurance coverage at 125% of the top-up premium.
The settlement at the time of maturity is flexible. You can receive maturity benefits either in lumpsum or in instalments by using the settlement option.
Auto Transfer Option
You can reduce your savings risk with the auto transfer option (ATO), which reduces the risk of investing the full premium in a fund with a volatile NAV. This is done by investing the premium in a low-risk fund preserver and eventually the money is transferred into the investment portfolio chosen by you.
You are allowed to switch from one fund to any of the other funds mentioned in the policy. You can switch two times a year without attracting any charge. After that, you will have to pay ₹100 per switch.
You are allowed to alter certain terms of the policy upon submitting the written request. Alterations can be done for reducing the sum assured and addition of the riders during the policy term.