Shriram Life Smart Protection Plan

In case of death of the life assured within the policy term, provided the policy is in force,

• 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 death¹, 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 illnesses², 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.

The future premiums after the incidence of the covered critical illness shall be waived.

Plan option shall be chosen at the time of proposal only and cannot be changed during the policy term. The premium rates under the three options will vary based on the type of option chosen.