Shriram Life Super Income Plan (128N087V02)
ABOUT THE PLAN
Shriram Life presents Shriram Life Super Income Plan (128N087V02) specially designed to cater to long term financial needs of an individual & his family. These needs are fulfilled under the plan in the following ways –
- Financial Security – Through Life Insurance cover till Age 75
- Financial Stability – Through Guaranteed Monthly Income till Age 75 & the Lump Sum paid at Maturity
- Financial Control – Through Flexibility to change Premium Payment Term
KEY FEATURES
Life insurance Cover till 75
Guaranteed #Monthly Income till 75
Guaranteed # Maturity Sum Assured
Wide range of Premium Payment Term
Flexibility to change Premium payment term
Additional protection through Riders
KEY BENEFITS
Super Income Benefit
In case of survival of the life assured till the end of the premium paying term, provided the policy is in force, a Super Income Benefit of fixed monthly amount will be paid from the end of the premium paying term till the end of the policy term or until death, whichever is earlier.
Maturity Benefit
In case of the survival of the life assured till the end of the policy term provided the policy is in force, “Guaranteed Maturity Sum Assured” will be paid and the policy is terminated.
Where
"Guaranteed Maturity Sum Assured” is equal to 5 times the Annualized Premium
Death Benefit
In case of death of the life assured during the Policy Term, provided the policy is in force, an amount equal to higher of “Death Sum Assured” or Surrender Benefit as applicable on the date of death will be paid in lump sum to the nominee(s) or beneficiary (ies) and the policy is terminated. Any Super Income Benefit paid will not be recovered from the death benefit.
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.
*For more details, refer the product brochure.
ELIGIBILITY
| ENTRY AGE | Minimum 25 Years Maximum 50 Years |
|---|---|
| MATURITY AGE | Maximum 75 Years(fixed) |
| POLICY TERM | 75 minus age at entry |
| PREMIUM PAYMENT MODE | Yearly Half Yearly Quarterly Monthly |
| SUM ASSURED | 10 times annualised premium& (Excludes extra premium, rider, GST and cess) |
| PREMIUM PAYMENT TERM | 10 To 25 Years (Premium Paying Term plus Age at entry should not exceed 65 years) |
| PREMIUM RANGE | Minimum (₹) ₹ 30000* Maximum (₹) No Limit, Subject to Board approved underwriting policy (The premium shall be in multiples of ₹ 1000) *Annualized Premium |
RIDERS (ADD ONS)
| Name | Description |
|---|---|
| Accident Benefit Rider (UIN 128B001V03) | In case of death or total and permanent disability due to accident during the rider term, we will pay 100% of the rider sum assured. Also, if the life assured becomes totally and permanently disabled in an accident, we will waive off all the future premiums under the policy. The benefit under this rider is applicable only once during the rider term. |
| Shriram Life Critical Illness Plus Rider (UIN 128B016V01) | If you are diagnosed to be suffering from any of the 24 specified Critical Illnesses, we will pay 100% of the rider Sum Assured on survival of 30 days following the date of first confirmed diagnosis. This rider also gives you an upside of increments in your rider Sum Assured through Loyalty Additions. |
| Family Income Benefit Rider (UIN 128B002V03) | In the event of accidental death or if the life assured becomes totally and permanently disabled due to an accident within the rider term, 1% of rider sum assured is payable every month immediately from the end of month of accident for a guaranteed period of 10 years or till the end of the rider term whichever is higher. |
| Shriram Extra Insurance Cover Rider (UIN 128B009V03) | In case of unfortunate event of death of the life assured during the rider cover term, sum assured under rider will be paid to the nominee. |