Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • Life Cover

    10 times of Annual Premium
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners

Shriram Life Growth Plus

Shriram Life Growth Plus is a unit-linked, savings oriented insurance plan. It offers savings cum life coverage. Market linked returns may give a possibility of earnings depending on prevalent market conditions. Premium payment choices are available. Multiple fund classes are available to diversify the investment mix. The flexibility of investment assures that investments can be moved about depending on market conditions. Buy Shriram Life Growth Plus for two death benefit options, loyalty additions, additional protection through riders, unlimited switching, free of cost premium redirection, multiple fund types to choose from, and multiple investment strategies to apply. The insurance plan also has maturity benefits for those willing to use this as a long-term savings method. 

*Terms and Conditions apply

Shriram Life Growth Plus Details:

Parameters 

Details 

Policy Tenure

10, 15, to 20 years

Premium Paying Term

The regular plan is the same as the policy term. The limited plan is 6 years. A single plan is a single payment. 

Premium Paying Mode

Shriram Life Growth Plus premium can be paid monthly or yearly. 

Entry Age

Minimum age is 30 days.

Maximum age at entry is 60 years

Maturity Age

Minimum age at maturity is 18 years. Max age at maturity is 70 years

Grace Period

Not applicable for single premium policies. For all other policy types, it s 15 days if premium payment mode is monthly, and 30 days if premium payment mode is yearly. 

Sum Assured

Minimum sum assured for the Regular plan is Rs. 2,10,000. Limited is Rs. 4,20,000 and Single is Rs. 62, 500. Maximum sum assured has no limit and is subject to board approved underwriting policy.

Liquidity 

Provided the Shriram Life Growth Plus policy status is in-force, partial withdrawals are allowed. Withdrawals can be made only after the 5th policy year. Minimum partial withdrawal is Rs. 10,000. During the policy term, only one withdrawal is free of cost. Subsequent withdrawals are charged at Rs. 250. After partial withdrawal, 25% of total premiums paid, should be in the fund. 

Benefits of the Shriram Life Growth Plus

Online Shriram Life Growth Plus has the following benefits:

Maturity Benefit: Upon surviving the policy term, the policyholder receives the sum assured, which is the total of all base premium fund value and the top-up premium fund value (if any). The fund value is computed as a number of units multiplied by the applicable net asset value. 

Death Benefit: The plan provides two death benefit options. 

Option 1:

The death benefit is Sum assured amount plus top-up sum assured (if any), plus fund value. 

Option 2:

The death benefit is the higher of sum assured (less partial withdrawals) or base premium fund value or top-up sum assured or top-up premium fund value. 

The minimum death benefit is 105% of all premiums received by the insurer. 

Surrender Benefit: After the lock-in period, if the policy has been surrendered, the prevailing fund value as on the surrender, the date is paid to the policyholder and then the policy is terminated. The policy can be surrendered anytime. The fund value as of the date of applying for the surrender is paid. 

Tax Benefits: Tax benefits for the Shriram Life Growth Plus can be claimed under Section 10(10D) and Section 80C of the Income Tax Act, 1961.

*Tax benefit is subject to changes in tax laws

The Premiums for Shriram Life Growth Plus

The online Shriram Life Growth Plus has a minimum of 6 and a maximum of 20 years premium payment term. *

Minimum premium payment for a single plan is Rs. 50,000 for ten years and Rs. 2,00,000 for 15 years and above. Minimum premium payment for a limited plan is Rs. 60,000 yearly and Rs. 6,000 monthly. Minimum premium payment for the regular plan is Rs. 30,000 yearly and Rs. 3,500 monthly.

Use the Shriram Life Growth Plus calculator to compute the premium.

*Standard T&C Apply

Additional Riders for Shriram Life Growth Plus

Additional riders can be taken apart from paying Shriram Life Growth Plus premium. The additional riders that can be taken are Shriram Accidental Death & Disability Rider, Shriram Accidental Death & Disability Income Rider and Shriram Critical Illness Care Rider. The rider premium shall be deducted from the unit fund by effecting cancellation of the proportionate number of units at the start of each policy month. 

Eligibility for Shriram Life Growth Plus

Minimum age at entry for the Shriram Life Growth Plus Policy is 30 days and the maximum age for entry is 60 years. Min and Max age at maturity is 18 and 70 years. 

What are the documents required to buy this policy?

To buy Shriram Life Growth Plus the individuals have to deposit the following documents:

  • Applicant’s ID: Aadhaar, Voter ID or Passport 
  • Applicant’s address: PAN card, Amenity bill (phone or electricity) or Aadhaar
  • Applicant’s income proof: ITR or Salary certificate
  • Shriram Life Growth Plus application form

How to buy this plan online?

Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited).

Step 2: Fill in the lead form with required details 

Step 3: You will be redirected to the quotes page and choose Shriram Life Growth Plus Plan.

Step 4: Complete it by submitting details such as policy premium term, policy premium mode and premium amount, etc. 

Step 5: Attach the policy and personal documents while submitting the application form

Step 6: Finish the process by paying premium through net-banking, credit/debit card or UPI payments.

Exclusions of Shriram Life Growth Plus

The suicide exclusion of Shriram Life Growth Plus will provide cover to the nominee or beneficiary if the suicide has occurred within a year from policy commencement.

FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 24 Reviews)
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Shriram Life Growth Plus Reviews & Ratings

4 / 5 (Based on 24 Reviews)
(Showing Newest 24 reviews)
Shashi
Narsimhapur, March 20, 2019
Best plan for working woman’s
I was amazed to see the plans of Shriram ULIP Plan as it offers good plan especially for working woman. It provide financial protection apart from life. I am enjoying its services.
Yogesh
Dehradun, August 26, 2016
Trustable Insurance
Recently i purchased ulip plan by searching on internet. Policy have big benefits in less investment. The customer services is very nice. I buy this for my whole family and all are happy with it. The payback amount is very good with you gave.
Nakul
Jalalpur, July 12, 2016
ULIP Policy
Ulip policy is very good insurance, service provided by your department is fantastic. Premium is low and returns are high. The claiming is easy because the members of the company provide fantastic service.
Joravar
Ambala, June 30, 2016
Good Plan
Superb ulip insurance plan which i purchase in low premiums. Policy coverage is high and claims are easy to sanctioned due to fast service facilitate by the company members. Service is on time and web service is simple to use anybody can operate it easily.
Kunal
Dwarka, May 10, 2016
Perfect Policy Plan
The policy coverage is 94%, the claims are high and the claiming is easy because of the executives and the staff members. The services provided by you shriram life insurance is very fast and on time. My ulip plan is having great benefits. The premiums is less ~39.9 K and the returns are ~Rs.42 L. Good investment, i like it.
Devesh
Raj_nagar, May 10, 2016
Great Policy
I have shriram life ulip plan. The plan works for me. Policy coverage is also good ~92% with good amount of claims. Service provided by you is great and the web services are also nice. This policy plan is good reducer of taxes and future investment also. I got regular updates, This i like the most.
Abhishek
Nasirabad, May 10, 2016
Superb Plan
My ulip plan is with shriram life insurance. The policy plan is very nice with low premiums. The policy coverage is high ~87% and claims are good. Perfect policy for future investments and the policy saves taxes also. The behaviour of the executives and staff members are good. I like my policy plan.
Tarun
Raipur, May 10, 2016
Excellent Policy
I purchase shriram life ulip plan. The policy coverage is 88% and the premiums are low. The claims are good and the procedure is very easy and cleared in short time period. The services are fast and on time. The behaviour of the executives and staff members are very nice. Nice future investment which saves taxes too.
TANVEER
Jorhat, May 10, 2016
Awesome Plan
My ulip plan is with shriram life insurance. The policy coverage is high 89% and the claims are good. Premiums are less ~44 K per year and the returns are around 31 L. Services are really fast and the response through executives and staff members are nice. Daily updates mailed to me timely.
SARTHAK
Shahabad, May 10, 2016
Trustworthy Policy
Shriram life insurance provides me ulip plan. I have to say this that the policy is very good and the terms and conditions are very reliable and flexible. Policy coverage is 93% and the service is okay with good behaviour from executives and staff members. Good tax saver.
PRASHANT
Muktsar, May 10, 2016
High Coverage
I own shriram life ulip plan and policy is awesome with great benefits. Policy coverage is high approx. 91%. Claim are good around Rs.32 L after policy get mature and the service is really good with polite behaviour from executives and staff members. Nice job guys, I like the policy.
HIMANSHU
Guwahati, May 10, 2016
Super Policy
I purchase shriram life insurance ulip plan. The policy coverage is good approx. 89% and the policy claims are high. The premiums are low and the paybacks are really very high. The services provided by the executives and the staff members are good and on time. Good investment and tax saving.
NAMAN
Jammu, May 10, 2016
Service Is Bit Slow
I have ulip plan and it is good but the only thing is the service is bit slow rather than this all things are good. Like, policy coverage is 87% and claims are high but the investments are low. Please improve your services. The policy saves taxes too. Please improve the services.
DIVITA
Palwal, May 10, 2016
Really Good
I got shriram life ulip plan which is very nice with good benefits. The policy coverage is high ~89% and claims are high too. It can be manage online too. It avoiding the hassles of unnecessary paperwork. Good services with quick response. Good investments.
UMANG
Ludhiana, May 10, 2016
Satisfactory
I buy shriram life insurance ulip policy plan. The policy premium is low and the paybacks are high. The policy coverage is 82% and the claims are normal. Investment is 39.2 K per year and the returns are 1.25 times the sum assured. Services you provided is bit slow but manageable. This policy plan work's for me. Satisfactory.
ARUN
Haldwani, May 10, 2016
Fantastic Service
I have shriram life ulip plan. The policy coverage is high ~90% and the premiums are low. The premiums are payed online and it reduce paperwork. The services are fast and response is quick from executives and staff members. The updates are regularly mailed to me.
MANISH
Nasik, May 10, 2016
Poor Policy
I had shriram life ulip plan. The policy coverage is low 59% and the claims are less. The premiums are high as the returns are not. Poor policy plan which has slow service too. No response from the staff members and the web site is not working most of the time. Not satisfied. Please improve the policy and services.
ASHITABH
Laxmipur, May 10, 2016
ULIP Policy Plan
I own shriram life insurance and buy ulip policy plan. Plan is good with low investment. Policy coverage is 90% and premium is fourteen thousand quarterly per year. Claims are ~Rs.29 L. Service you facilitate is really very good with fast interface of web services and from executives and staff members also. Good work.
ASHISH
Fakirpur, May 10, 2016
Totally Safe
I have purchase shriram life insurance and i took ulip plan. It can easily buy on online and avoiding the hassles of unnecessary paperwork. The policy coverage is 90% and the claims are high which can easily be cleared without any waiting because of fast services provided by the executives and staff members of the company. Good job guys.
VARUN
Bhiwani, May 10, 2016
Very Good
My ulip policy plan is one of the best plan ever. Thank you, shriram life insurance for the services, the premiums are less and coverage is high ~88%. Service you provided is super sonic, Claiming procedure get so simple and easy. The web services and services provided by staff members and executives are fast and on time. Good investment which save taxes too.
RAJAT
Howrah, May 10, 2016
Better Plan
My shriram life ulip plan is great. Policy coverage is high approx. 89% and the claims are high with good interest. The services provided by your executives and staff members are really very nice and always on time. Good future investment which saves tax also. I like the policy.
NALIN
Gurgaon, May 10, 2016
Manageable
I purchase shriram life ulip insurance plan. The policy coverage is high ~88% and claims are high but investment is low. Service is nice and executives are available anytime for assistance. I like the policy very much. The policy saves taxes and it is good investment too. Daily updates are send to me timely.
BHAWANA
Faridabad, May 10, 2016
Nice Policy
My shriram life ulip plan is nice which have low premiums and the paybacks are high. The policy coverage is good ~83% and the claims are approx. 28 L. The services are good and on time and it reduces taxes also. Nice behaviour from executives and staff members. Good job.
ARUJA
Ahmedabad, May 10, 2016
Good
I have shriram life ulip plan and it is good and the benefits are even better. Premium is low and payback are high. Claims and policy coverage is really awesome with good interest. The service is very quick and on time till now. Good investment.
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