Shriram Guaranteed Wealth Preserver - Online
Shriram Guaranteed Wealth Preserver – Online is a traditional savings plan which is available online. It is a one- time investment plan which yields guaranteed benefits to provide investment growth and also gives life insurance coverage
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- 9.7 Crore Registered Consumer
- 51 Partners Insurance Partners
- 4.9 Crore Policies Sold
Investment Plans
- Guaranteed Tax Savings^Under sec 80C & 10(10D)
- Under sec 80C & 10(10D)Invest ₹10k Per Month*
- Zero LTCG Tax^
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Shriram Life Investment Plans
- Shriram Life Guaranteed Wealth Preserver-Online
Key Features
- It is a non-participating plan with Single premium payment option
- The plan is only available online through the insurer’s website
- The plan promises guaranteed Maturity benefits and death benefits
Benefits
- On death, the death Sum Assured is payable which is higher of 125% of the Single Premium is age is less than 45 years or 110% of the Premium for ages equal to and above 45 years or the Sum Assured or Maturity Sum Assured
- The Sum Assured is calculated as 10 times the Single Premium
- Maturity Sum Assured is the Guaranteed Maturity Benefit which is calculated multiplying the guaranteed maturity benefit factor with the single premium paid
- On maturity, the Guaranteed Maturity Benefit is paid
- The guaranteed maturity benefit factor depends on the amount of premium paid, age and the policy term chosen
- Income tax benefit on the premium paid as per Section 80C and on claims received as per Section 10(10D) of the Income Tax Act.
Product Specification:
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
3 years |
40 years |
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Maturity Age (Last Birthday) |
18 years |
55 years |
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Policy Term (PT) in years |
5 or 10 or 15 |
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Premium Paying Term (PPT) in years |
Single pay |
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Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
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Yearly Premium |
25,000 |
No limit |
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Sum Assured |
250,000 |
No limit |
Details About Premium
The corresponding Sum Assured for a Single Premium of 1 lakh
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Age / Term (in years) |
5 |
10 |
15 |
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10 |
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190,000 |
268,000 |
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20 |
131,000 |
184,000 |
259,000 |
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30 |
130,000 |
180,000 |
249,000 |
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40 |
124,000 |
160,000 |
204,000 |
Policy Details
Grace Period: grace period is not applicable in single pay plans
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy whereupon the Surrender Value will be paid which will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
GSV = GSV % of Single premium paid
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Inclusions
- Loan is available under the plan @ 80% of Surrender Value
Exclusions
- In case of suicide within 12 months of policy inception, higher of 80% of the premium paid or the Surrender Value will be returned
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and necessary KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
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