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Shriram Life New Akshay Nidhi Plan is a traditional participating Money-back plan which provides income at periodic intervals to take care of cash requirements at important junctures of life
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
30 days |
60 years |
|
Maturity Age (Last Birthday) |
18 years |
75 years |
|
Policy Term (PT) in years |
15 |
25 |
|
Premium Paying Term (PPT) in years |
Equal to policy term |
|
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
Depends on Sum Assured |
|
|
Sum Assured |
150,000 |
No limit |
Benefit Illustration for a policy term and PPT of 15 years
|
Age |
40 years |
50 years |
60 years |
|
Sum Assured |
200,000 |
200,000 |
200,000 |
|
Premium |
20,100 |
22,500 |
25,400 |
Grace period: 30 days grace period is allowed for payment of premium. If policyholder fails to make payment within the grace period, the policy lapses
Policy termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 3 full years’ premium has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
GSV = GSV % of premiums paid net of survival benefits already 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.
a) Accident Benefit Rider
b) Family Income Benefit Rider
c) Shriram Extra Insurance Cover Rider
d) Shriram Critical Illness cover Rider
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.
