Shriram Life Super Income Plan

Eligibility Criteria for the Shriram Life Super Income Plan

Features of the Shriram Life Super Income Plan

Here are the key features of the Shriram Life Super Income Plan:

• The plan provides life insurance coverage up to the age of 75, ensuring long-term protection.
• It offers a guaranteed monthly income after the premium payment term.
• A lump sum maturity benefit is paid at the end of the policy term.
• You can choose the premium payment term based on your financial goals.
• The plan allows flexibility in choosing the income payout duration.
• Additional protection can be added through optional riders.

If you want to explore more options from the same insurer, you can check other plans offered under Shriram Life Investment Plans to compare features and benefits.

Benefits of the Shriram Life Super Income Plan

Below are the benefits of the Shriram Life Super Income Plan:

• Maturity Benefit: When you survive to the end of the policy term, you receive a guaranteed maturity amount, typically 5 times the annualized premium.
• Super Income Benefit: When you get your premiums over the due term, a fixed monthly income transpires until the end of the policy term or 75 years.
• Death Benefit: When the nominee dies during the term of the policy, the death sum assured and benefits due are paid to the nominee, rather than the applicable benefits.
• Long-Term Financial Stability: The guaranteed income assists in taking care of your finances in your older days.
• Tax Benefits: The premiums paid and the benefits received can be tax-advantaged under existing tax laws.

Riders Under the Shriram Life Super Income Plan

The Shriram Life Super Income Plan provides optional riders to increase protection. These include:

• Accident Benefit Rider
• Family Income Benefit Rider
• Shriram Extra Insurance Cover Rider
• Critical Illness Plus Rider
• Critical Illness Woman Rider

Policy Details of the Shriram Life Super Income Plan

Understanding the policy conditions can help you make informed decisions.

1. Grace Period

   A 30-day grace period (15 days in the monthly mode) is provided to pay premiums without compromising policy benefits.

2. Revival

   The policy may be revived within 5 years from the first unpaid premium, upon payment of all outstanding premiums plus interest.

3. Free Look Period

   You will be granted a 30-day period after receipt of the policy document to review and cancel it if dissatisfied.

4. Surrender

   The policy may be surrendered by paying the required minimum premiums. The policy terms are paid in the surrender value.

5. Loan

   You can take a loan against the policy once it acquires surrender value, subject to applicable terms and conditions.

You can also review the investment plans available in the market to choose one that aligns with your long-term financial goals.

Exclusions Under the Shriram Life Super Income Plan

• Suicidal Cover: If death occurs due to suicide within 12 months from policy commencement or revival, the benefit will be paid as per policy terms.