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Shriram New Shri Life Plan is a traditional participating Endowment plan which aims to facilitate savings for future needs and also providing life insurance benefits
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
30 days |
65 years |
|
Maturity Age (Last Birthday) |
18 years |
75 years |
|
Policy Term (PT) in years |
10 |
25 |
|
Premium Paying Term (PPT) in years |
5 |
25 |
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
Depends on Sum Assured |
|
|
Sum Assured |
50,000 |
No limit |
Benefit Illustration for a policy term and PPT of 10 years
|
Age |
35 years |
45 years |
55 years |
|
Sum Assured |
100,000 |
100,000 |
100,000 |
|
Premium |
12,300 |
12,650 |
14,200 |
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 or 2 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 and GSV of vested bonuses
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
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.
