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Shriram Life Genius Assured Benefit Plan (UIN: 128N068V02)

Shriram Life Genius Assured Benefit Plan (UIN: 128N068V02)

Shriram Life Genius Assured Benefit Plan

Shriram Life Genius Assured Benefit Plan (UIN: 128N068V02) provides financial security for your child and family. It is a one-stop solution to secure your child’s life in your absence. Your decision to buy this plan can save your family from future uncertainties.

Key Features of The Shriram Life Genius Assured Benefit Plan

Maturity benefit that suits your child’s higher education dream

Comprehensive life insurance cover

Flexibility in receiving Education Support Benefit on maturity

Auto Cover

Additional Protection through Riders

Key Benefits of The Shriram Life Genius Assured Benefit Plan

Death Benefit

The policyholder can choose any of the following options for payment of death benefit.
 
 1. Lump Sum Option: If the policyholder chooses lump sum option the “Death Sum Assured” shall be paid in lump sum to the nominee(s)/beneficiary(ies) and the policy will be terminated. 
 
 2. Installment Option: If the policyholder chooses installment option, the “Death Sum Assured” shall be paid in installments as mentioned below. i. Sum Assured will be paid immediately ii. Family Support Benefit shall be paid monthly from the end of the month in which life assured dies till the end of the policy term. iii. Education Support Benefit shall be paid as per the option chosen by the policyholder

The option shall be chosen at the time of proposal only and cannot be changed during the policy term. Child nominee(s)/beneficiary(ies) is not compulsory in this plan.

In case of death of the life assured within the policy term, provided the policy is in force, “Death Sum Assured” will be paid to nominee(s)/beneficiary(ies). “Death Sum Assured” is defined as highest of –

•10 times the Annualised Premium for all ages 
•105% of All Premiums Paid till the date of death 
• Sum Assured and Additional Benefit
 

2

Maturity Benefit

In case of survival of the life assured up to the end of the policy term, provided the policy is in force the following benefits will be paid: 

1. Sum Assured plus

2. Education Support Benefit

The Education Support Benefit shall be paid as per the option (Flat Payout/Increasing Payout) chosen by the policyholder at inception of the policy. This option cannot be changed during the policy term.

There is no option to take the benefits under Education Support Benefit in lump sum.

3. Auto Cover

After the payment of at least two full years’ premium if you are unable to pay the premium within the grace period, you will be eligible for an Auto Cover of one year (i.e. for one year from the date of first unpaid premium)

If the premium is not paid before the end of grace period, the auto cover will trigger immediately on expiry of the grace period.

If death occurs during this auto cover period, the death benefit will be payable as paid for an in force policy after deducting the unpaid premiums which have fallen due before the date of death. If the premiums remain unpaid even at the end of Auto Cover period, the policy will be converted into a paid up policy. Auto Cover will be available only once during the premium paying term and is not available for a paid up policy.
 

Eligibility

Age at Entry

18 to 45 years (age last birthday)

Maximum Maturity Age

63 years (age last birthday)

Policy Tenure

10 to 18 years

Premium Paying Term

10 years

Sum Assured

Minimum: ₹ 2,00,000 
Maximum: No limit (subject to Board approved underwriting policy)

Annualised Premium

Minimum: ₹ 21,732 
Maximum: No limit (subject to Board approved underwriting policy) 
 

Premium Payment mode

Annual or Monthly

Disclaimer

For more details on risk factors, terms, and conditions please read the sales brochure carefully before concluding a sale.  

*Tax Benefits:  
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.  
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.

IRDAI Regn No: 128  
CIN No : U66010TG2005PLC045616 of the Company

The Trade Logo displayed above belongs to Shriram Value Services Limited (“SVS”) and used by Shriram Life Insurance Company Limited under a License agreement.”

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