Shriram Life Smart Protection Plan SP (UIN: 128N090V01)

In case of death of the life assured within the policy term

• Silver Option : “Death Sum Assured” is paid to the nominee and the policy terminates
• Gold Option : “Death Sum Assured” is paid to the nominee and the policy terminates.
  In case of Accidental death, an additional benefit equal to death sum assured is paid to the nominee & the policy terminates.
• *Diamond Option :
  • If death occurs first : “Death Sum Assured” is paid to the nominee and the policy terminates.
  • If Critical Illness occurs first : On first diagnosis of any of the covered critical illnesses, a critical illness benefit of 25% of Sum Assured is paid and the policy continues for life cover only till the end of the policy term. On death of the life assured during the rest of the policy term “Death Sum Assured” less the critical illness benefit already paid will be paid and the policy terminates.
• No Critical illness benefit shall be paid during the waiting period

There is no maturity benefit under this plan

Waiting Period

Waiting period (applicable for CI benefit only) is a period of first 90 days from the date of acceptance of risk. During this period the CI benefit is not payable.

The plan pays Critical Illness benefit in the event of the life assured being first diagnosed with any of the covered critical illnesses any time after waiting period.