Shriram Life Growth Plus (UIN:128L066V03)
What is Shriram Life Growth Plus?
Shriram Life Growth Plus (UIN: 128L066V04) is a savings oriented unit linked insurance plan which offers both life cover and savings through market linked returns. The plan offers multiple choices in respect of premium payment, fund classes and flexibility of investment. The policy can also be taken on other lives, where other lives can be spouse, child and grandchild.
In this policy, the investment risk in the investment portfolio is borne by the policyholder.
The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year.
Key Features of Shriram Life Growth Plus
Two Death Options
Loyalty Additions
Unlimited Switching & Premium Redirection free of cost
Choice of Premium Paying Tenure
Multiple Funds and Saving Strategies to Choose From
Eligibility and Documents Required for Shriram Life Growth Plus
| Eligibility Criteria | Limits |
|---|---|
| Age at Entry | Minimum: 30 days^ Maximum: 60 years (age last birthday) |
| Maturity Age | Minimum: 18 Years Maximum: 70 years (age last birthday) |
| Policy Term | 10,15to20 |
| Premium Paying Term | Limited-6 years,Regular-Same as policy term,Single-Single |
| Premium | Minimum: Single- Rs. 50,000 for tenure of 10 years and Rs. 2,00,000 for tenure of 15 years and above Limited- Yearly: Rs. 60,000 Monthly: Rs. 6,000 Regular- Yearly: Rs. 30,000 Monthly: Rs 3,500 Maximum: No limit, subject to Board approved underwriting policy |
| Sum Assured | For entry ages below 50 years: Minimum: Single: Rs. 62,500 Regular: Rs. 2,10,000 Limited: Rs. 4,20,000 For entry ages 50 years and above: Minimum: Single: Rs. 55,500 Regular: Rs. 1,50,000 Limited: Rs. 3,00,000 Maximum: No limit, subject to Board approved underwriting policy |
Premium Components of Shriram Life Growth Plus
| Name | Description |
|---|---|
| Insurance | Premium payment is usually meant for life cover. Shriram Life Growth Plus comes with insurance and savings. So the premium is divided between both. |
| Loyalty Additions | Loyalty additions are credited to the base premium fund value of the policy in the form of additional units over the duration of the policy if all due premiums payable by the time the loyalty additions are due are paid in full. |
| Shriram Accidental Death & Disability Rider (UIN – 128A012V01) | In the event of an accident or the life assured becoming totally or permanently disabled due to an accident during the policy tenure, the assured will be paid the rider sum. |
| Shriram Accidental Death & Disability Income Rider (UIN – 128A013V01) | The rider is paid 1% of the rider sum every month if the life assured becomes totally and permanently disabled due to an accident before the end of the rider term. |
| Shriram Critical Illness Care Rider (UIN – 128A014V02) | The rider provides protection against a set of pre-defined critical illnesses to the life assured. |
Downloads
You can find all the policy-related documents online on the website of Shriram Life Insurance for the comfort and ease of all our customers. Simply visit the website www.shriramlife.com and go to the download section on the policy page to download the policy document, prospectus and presentation.
