Shriram Life Golden Premier Saver Plan

The Shriram Life Golden Premier Saver Plan is a comprehensive life insurance policy designed to offer both financial protection and savings growth. It provides a lump sum payout in the event of death, ensuring security for your loved ones while also building a cash reserve through regular premiums.

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What is the Shriram Life Golden Premier Saver Plan?

Shriram Life Golden Premier Saver Plan is a life insurance product offered by Shriram Life Insurance that combines savings and protection benefits. This investment plan is designed to provide financial security for your loved ones in case of your death during the policy term and also offers a maturity benefit if you survive the policy period.

Features of Shriram Life Golden Premier Saver Plan

  • Continuous Life Insurance: This policy provides life insurance coverage throughout the entire term, ensuring protection for you and your loved ones.

  • Flexible Maturity Payouts: At the end of the policy term, you can choose to receive a lump sum or a combination of regular income and a lump sum, based on your financial needs.

  • Extended Life Coverage: You can extend your life insurance coverage until the age of 80, with a lump sum payout if you survive to that age. This extension requires an additional premium.

  • Guaranteed Bonuses: This policy offers bonuses, guaranteed to be at least 4% per year during the first five years of the policy, providing additional earnings.

  • Optional Riders for Added Protection: To enhance your coverage, you can choose from various optional riders, offering additional benefits and protection.

People also read: Shriram Life Child Plans

Eligibility Criteria of Shriram Life Golden Premier Saver Plan

Eligibility Criteria Details
Entry Age 0 – 60 years
Maturity Age 18 – 75 years
Premium Payment Term (PPT) 0 – 50 Year Entry Age: 5 years;
0 – 60 Year Entry Age: 8 years or 10 to 20 years
Policy Term 10/ 13 years or 15 to 25 years (PPT + 5 years)
Minimum Premium Payment 5 Pay PPT: Rs. 44,232;
8 Pay PPT: Rs. 27,564;
10 – 20 Year PPT: Rs. 10,296;
Minimum Sum Assured Rs. 2,00,000
Premium Payment Mode Annual/ Half-Yearly/ Quarterly/ Monthly 
Available Rider Options
  • Accident Benefit Rider
  • Shriram Life Critical Illness Plus Rider
  • Family Income Benefit Rider
  • Extra Insurance Cover Rider

Benefits of Shriram Life Golden Premier Saver Plan

Maturity Benefit Options:

  • Lump Sum Option: If you survive the full policy term, you'll receive a lump sum payment consisting of the following:

    • The "Guaranteed Maturity Sum Assured"

    • Any accrued bonuses

    • Any terminal bonuses

  • Income Plus Lump Sum Option:

    • At the end of each of the last five years of the policy term, you will receive an annual income equal to 10% of the sum assured.

    • If you survive the full policy term, you'll also receive:

      • 50% of the "Guaranteed Maturity Sum Assured"

      • Any accrued bonuses

      • Any terminal bonuses

  • Extended Cover Benefit

    • By paying an additional premium, you can extend your life insurance coverage until age 80. This extended term starts from the maturity date of the original policy.

    • If you pass away during the extended term or survive to the end, a sum assured will be paid, and the policy will end.

    • This extended cover cannot be surrendered on its own.

  • Benefit Payout Options: You have two choices for how you'd like to receive your maturity benefit:

    • Lump Sum: You get the full maturity benefit in one payment on the maturity date.

    • Income Plus Lump Sum: Part of the maturity benefit is paid as a lump sum on the maturity date, with the rest paid as annual income over the last five policy years.

  • Extended Coverage Option: By selecting this option and paying a higher premium, you will receive life insurance coverage for an extended period—specifically, from when your policy matures until you turn 80. All the original plan benefits will still apply.

Keep in mind that you must choose this option when you first sign up. You cannot change it later during the policy's term.

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People also read: Child Investment Plans

Rider Benefits of Shriram Life Golden Premier Saver Plan

You can add extra coverage to your insurance policy by paying an additional premium for any of the following riders:

  1. Accident Benefit Rider

    • Get 100% of the rider's sum assured if you die or become totally and permanently disabled due to an accident during the rider term.

    • If you become totally and permanently disabled in an accident, all future premiums for the main policy are waived.

    • This benefit can be claimed only once during the rider term.

  2. Shriram Life Critical Illness Plus Rider

    • Receive 100% of the rider's sum assured if you're diagnosed with one of 24 specified critical illnesses and you survive at least 30 days after the diagnosis.

    • Enjoy additional coverage through Loyalty Additions, which increase the sum assured over time.

  3. Family Income Benefit Rider

    • In case of accidental death or total and permanent disability during the rider term, get 1% of the rider's sum assured every month for a guaranteed period of 10 years or until the end of the rider term—whichever is longer.

  4. Shriram Extra Insurance Cover Rider

    • If the life assured dies during the rider term, the sum assured under this rider is paid to the nominee.

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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Government Schemes for Girl Child

Policy Details of Shriram Life Golden Premier Saver Plan

  1. Grace Period and Premium Payments: 

    You are granted a grace period to accommodate late premium payments.

    • For non-monthly premiums, the grace period is 30 days; for monthly premiums, it is 15 days.

    • If the insured dies during the grace period while premiums are unpaid, the death benefit is still paid to the nominee, with a deduction for the unpaid premium.

    • To avoid policy lapses, it's advised to pay premiums on time. If less than two years of full premiums have been paid and the policy lapses, no benefits are payable.

    • When at least two years of full premiums have been paid, a lapsed policy converts to "paid-up" status with reduced benefits.

  2. Policy Revival and Restoration

    • You can revive a lapsed or paid-up policy within five years by paying all overdue premiums plus 8% annual interest (subject to changes approved by IRDAI).

    • If a policy is not revived, it continues in "paid-up" status with reduced benefits.

  3. Policy Surrender and Loans

    • You can surrender your policy after paying at least two years of full premiums. 

      • On surrender, you receive the higher Special Surrender Value (SSV) or the Guaranteed Surrender Value (GSV).

    • Instead of surrendering, you can take a loan against their policy.

      • During the premium-paying term, the maximum loan amount is 80% of the surrender value.

      • After the premium-paying term, it's up to 60% of the surrender value.

    • Loan repayments must be made on time, or they may affect policy benefits.

  4. Policy for Minors

    • If the insured is under 18, they are considered a minor, and risk coverage starts on the first policy anniversary.

    • If a minor insured dies during the first policy year, premiums paid are refunded.

    • The policy vests in the minor's name when they turn 18.

  5. Nomination and Beneficiaries

    • You can name a nominee to receive benefits in the event of your death.

    • If the nominee is a minor, you must appoint a custodian.

  6. Free Look Period

    • You have 15 days to review the policy. If you disagree with its terms, you can return it for a refund, with some deductions for risk premiums and stamp duty.

How Does the Shriram Life Golden Premier Saver Plan Work?

Step 1: Choose the policy term & coverage amount (up to 25 years).

Step 2: Decide on premium payment term (limited period) & frequency (annual/semi-annual/quarterly/monthly).

Step 3: Enhance coverage (optional): extend to age 80 or add riders.

Step 4: Receive maturity benefit as a lump sum or income & lump sum combo.

Step 5: Get guaranteed bonuses & potential tax benefits.

People also read: Sukanya Samriddhi Yojana

Suicide Exclusion of Shriram Life Golden Premier Saver Plan

If the policyholder dies by suicide within 12 months of the policy's start or revival, the beneficiary will receive the greater of either 80% of the premiums paid up to the death date or the surrender value as of that date, as long as the policy is active.


  • What is the Shriram Life Golden Premier Saver Plan?

    The Golden Premier Saver Plan is a life insurance plan by Shriram Life that offers a combination of protection and savings. It provides a death benefit in case of the policyholder's demise during the policy term and a maturity benefit if they survive the policy period.
  • What are the benefits of the Shriram Life Golden Premier Saver Plan?

    This plan offers benefits like:
    • Low premiums: Starting from ₹10,296, making it affordable.

    • Limited premium payment term: Pay premiums for a shorter period and get coverage for a longer term.

    • Maturity benefit options: Receive the benefit in a lump sum or a combination of income and lump sum.

    • Extended coverage: Opt for additional coverage up to 80 years of age (optional).

    • Riders: Choose from four optional riders for additional benefits.

  • Who is the Shriram Life Golden Premier Saver Plan suitable for?

    Shriram Life Golden Premier Saver Plan is suitable for individuals looking for an insurance plan that provides both life cover and a way to save for the future. It caters to those who prefer limited premium payment terms and flexible payouts.
  • Is Shriram Life Insurance Trusted?

    Shriram Life Insurance is a legitimate insurance company in India. They have a mobile app with good reviews and are partnered with comparison websites like BankBazaar, which lends them credibility.

    However, it is always wise to do your own research before choosing an insurance provider. Here are some steps you can take:

    • Check their claim settlement ratio.

    • Read customer reviews online.

    • Compare plans and prices from different insurers.

  • What are the benefits of Shriram life insurance?

    Shriram Life Insurance offers a variety of benefits, including:
    • Affordable plans: They are known for having competitive rates, especially on term life insurance plans.

    • Diverse products: They offer a variety of plans to suit different needs, including term plans, savings plans, child plans, and retirement plans.

    • Online convenience: You can manage your policy and even buy plans online through their website or app.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:-
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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Child Plan 2
Average Rating
(Based on 23 Reviews)

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Shriram Life Child Plans Reviews & Ratings

4 / 5 (Based on 23 Reviews)
(Showing Newest 10 reviews)
Nainital, July 26, 2016
Shriram Policy
My child insurance plan is very good which i bought from shriram life insurance. The claiming is easy and service is fast served by the executives and staff members of the company. Good future planing for my angel.
Mangalpur, July 12, 2016
Child Plan
I buy child insurance policy in low premiums and policy coverage is maximum. Good future security for my child including his health and education and many more. Service is nice given by the staff members. Online service is nice it provide online renewals.
Akhandnagar, June 30, 2016
The child insurance plan i buy for my child. The service you provided is fantastic and the future paybacks are really very good. My child's future is secure with this policy. Policy coverage is high and it covers many scenario. Service is good with quick response.
Mumbai, May 11, 2016
superb plan
I found awesome shriram life child plan. The claim is high and the policy coverage is 93%. Service you provided is fast and very quick. Daily updates are mail and texted to me. The policy is good for future investment and it saves taxes also. The policy updates are mailed to me daily.
Roorkee, May 11, 2016
Need To Improve
Shriram life child plan which is an average one. The service is fast and the policy coverage is approx. 77%. The claims are okay but the claiming process is bit lengthy. Executives and staff members are doing great work with good response. Okay policy and good for tax saving. Good for middle class person. Please improve the policy services and online facilities.
Howrah, May 11, 2016
Working Good
I have child policy for my child which is very good and the insurer is shriram life insurance. The policy has many benefits like good investments for future and it save taxes also. Policy coverage is 89% and the claims are around 36 L after policy ends. Fair Terms and Conditions. I'm satisfied with it.
Pilani, May 11, 2016
Interest Is High
The best child plan i bought from shriram life insurance and the policy is awesome. The policy coverage is 92% and the claims are 39 L after policy get mature. The investment is low and the returns are high. Good future plan with tax protection. Service you provided is very quick and on time. Fantastic future investment with great interest.
Mohali, May 11, 2016
Satisfactory Policy
I have shriram life child plan. Policy coverage is good 88% but the premium is low. Service provided is bit slow and claims are good and Rs.31 L is the amount i get after policy get end. The updates regarding policy is send to me regularly. I just wanted to say that satisfactory policy plan.
Udaipur, May 11, 2016
Very Good
I purchase child policy plan by shriram life insurance. Policy coverage is 81% and the claims are high. Premium is low and the services are fast and with great response from executives and staff members of the company. Good future investment and it saves taxes. The executives and staff members behave well with there customers.
Saharanpur, May 11, 2016
Purchase shriram life pension plan and the benefits are many. Policy coverage is good 86% and the payback amount is 35 L when policy ends. Claims are easily get due to great services facilitate by executives of the company. Nice future investment and it saves taxes also. The policy terms and conditions are very reliable, it make me very happy.
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