Shriram Life New Shri Life Plan (UIN: 128N047V03)
Shriram Life New Shri Life Plan (UIN: 128N047V03)
Shriram Life New Shri Life Plan (UIN: 128N047V03) is a non linked participating endowment plan. Besides being a systematic savings option, the plan acts as a reliable protection tool to your family in the event of a mishap. Shriram Life New Shri Life Plan is ideal because of the potential upside of reversionary bonuses which may be added to your life cover year after year and also the maturity benefit.
Key Features
Reversionary Bonuses to enhance your savings and life cover
Multiple Premium Payment Options
Attractive high sum assured rebates
Additional protection through Riders
Key Benefits
Maturity Benefits
In case of survival of the life assured up to the end of the policy term, provided the policy is in force, the Basic Sum Assured plus accrued Reversionary Bonuses plus Terminal Bonus (if any) will be paid.
Death Benefits
In case of death of the life assured during the policy term, provided the policy is in force, Sum Assured on Death + Accrued Reversionary Bonus (if any) + Terminal Bonus (if any) will be paid to the nominee(s)/ beneficiary(ies). Where Sum Assured on Death is higher of
• 10 times the Annualised premium&
• Basic Sum Assured
However, the death benefit will be at least 105% of Total Premiums Paid till the date of death
Eligibility
| Eligibility Criteria | Limits | ||||||
| Age at Entry | Minimum: 30 days Maximum: 60 years (Age last birthday) | ||||||
| Maturity Age | Minimum: 18 years (Age last birthday) Maximum: 75 years (Age last birthday) | ||||||
| Sum Assured | Minimum: Rs 50,000 Maximum: No limit, subject to Board approved underwriting policy. | ||||||
| Policy Term and Corresponding Premium Payment Term (Years) | Policy Term | 10 | 15 | 20 | 25 | ||
| Premium Payment Term | 8, 10 | 8, 10, 15 | 8, 10, 20 | 8, 15, 25 | |||
| Premium Payment Mode | Yearly, Half Yearly, Quarterly, Monthly | ||||||
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. |
| 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. |
| Shriram Life Critical Illness Plus Rider (UIN 128B016V02) | “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.” |
