Shriram Life Sunishchit Laabh Plan

Eligibility Criteria for the Shriram Life Sunishchit Laabh Plan

The flexible structure makes it suitable for long-term income planning within Shriram Life Investment Plans.

Features of Shriram Life Sunishchit Laabh Plan

Here are the defining features of this plan:

• Guaranteed Benefits With Assured Returns: The plan will provide credible income and maturity payments that will guarantee stable financial results.
• Two Life Cover Options: Select Life and Life Plus options depending on the requirements of protection.
• Two Income Payout Options: Income Plus offers regular income, whereas Income Pro has both income and return of premiums.
• Flexible Income Payout Period: Policyholders can select payout durations ranging from 10 to 40 years.
• Wide Premium Payment Terms: The terms of premium payments are between 7 and 25 years, with flexibility.
• Additions and Incentives Loyalty: Other rewards are offered in terms of loyalty additions, high premium incentives, and female incentives.
• NACH Discount Benefit: A discount on premium payments is available with auto-debit.
• Customisation Flexibility: The policy term, payout mode and the premium payment term can all be altered according to financial objectives.

These features make Shriram Life Sunishchit Laabh a strong option among the best investment plans for long-term income security.

Benefits of the Shriram Life Sunishchit Laabh Plan

This plan offers a structured combination of life cover and income benefits, designed to support long-term financial security and predictable payouts.

1. Flexible Life Cover Options to Suit Your Needs:

   • Life Option: Get a lump-sum payout for your nominee to help them manage immediate and long-term financial needs.
   • Life Plus Option: Secure your family with monthly income payouts after death, along with waiver of future premiums while maturity benefits continue.

2. Comprehensive Death Benefit for Financial Protection:

   • Lump sum payout (Death Sum Assured) if death occurs during the policy term.
   • Continued income payouts to the nominee if death occurs after the policy term (as per plan structure).
   • Death Sum Assured is the highest of:
     • 7x or 10x of the annual premium
     • 105% of total premiums paid
     • Applicable surrender value

3. Guaranteed Income-Based Maturity Benefits:

   • Income Plus Option: Earn a fixed, regular income during the payout period for consistent cash flow.
   • Income Pro Option: Receive regular income along with the return of total premiums paid at the end of the payout term.

4. Enhanced Returns Through Built-in Incentives:

   • Loyalty additions that increase policy value over time
   • High premium incentives for higher investment amounts
   • Special benefits for female policyholders
   • Auto-debit booster rewards for disciplined premium payments

5. Designed for Long-Term Financial Stability:

   • Combines life insurance coverage with predictable income streams
   • Supports goals like retirement planning, family security, and wealth preservation.

Check Shriram Life Investment Plans to know more about the benefits.

Riders Under the Shriram Life Sunishchit Laabh Plan

• Accident Benefit Rider
• Critical Illness Rider
• Income Benefit Rider
• Other Protection Riders.

These riders enable the policyholders to boost cover depending on the individual risks.

Policy Details of the Shriram Life Sunishchit Laabh Plan

Here are the key policy details you should know.

1. Grace Period

   The payment timelines include a grace period of 30 days for non-monthly premium modes and 15 days for the monthly mode.

2. Revival

   The policies may be returned to life within a given time by paying the outstanding premiums with interest.

3. Free Look Period

   The policyholders have a 30-day period to review the policy and cancel it if necessary.

4. Surrender

   After making the required premium payments, the surrender value is paid out in accordance with the policy terms.

5. Loan

   A loan facility can be lent against a policy under the surrender value subject.

Exclusions Under the Shriram Life Sunishchit Laabh Plan

These are some of the cases when benefits are not applicable:

Suicidal Cover

• In case of death through suicide within the 12 months:
• Premiums paid or surrender value 80% payable.

Additional exclusions are fraud, misrepresentation and policy lapse.