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 Wealth Plus

Shriram Life Wealth Plus is designed to provide protection to the policyholder and his/her dependents. Being a unit-linked insurance product, it has dual characteristics of a savings cum investment cum protection plan. The policyholder can grow investments over time with a single plan.* 

Buy Shriram Life Wealth Plus to gain access to multiple funds and investment strategies to invest in. Flexible policy terms, additional protection through riders, unlimited fund switching, and premium redirection, all of this is free of cost. Opt for the regular or limited premium payment term. The key feature of this plan is that it assured a minimum sum assured which is seven times the annualized premium. 

*Terms and Conditions apply

Shriram Life Wealth Plus Details:

Parameters

Details

Policy Tenure

10 years, 15 years or 20 years

Premium Paying Term

Regular or limited. Regular is the same as policy tenure. Limited is 10, 15, or 20 years

Premium Paying Mode

Shriram Life Wealth Plus premium can be paid monthly, quarterly, half-yearly, or yearly

Entry Age

Minimum age is 7 years

Maximum age at entry 60 years

Maturity Age

70 years

Grace Period

30 days from the premium due date. 15 days for monthly mode

Sum Assured

The minimum sum assured is 7 x annualized premium. There is no maximum limit. However, is subject to board approved underwriting policy. 

Liquidity 

Provided the Shriram Life Wealth Plus policy status is in force, partial withdrawals are allowed from the 5th policy year onwards. In case of minor, partial withdrawal is allowed only after attaining 18 years of age. The minimum partial withdrawal amount is Rs. 10,000. Only one partial withdrawal is free of charge. An amount equal to 5 times the annualized premium should be available in the policyholder’s account as a minimum. Partial withdrawals are first allowed from the unit fund that was built with top-up premiums, and later by the unit fund that was built with basic premiums

Benefits of the Shriram Life Wealth Plus

Online Shriram Life Wealth Plus has the following benefits:

  • Maturity Benefit: Upon surviving the policy term, the total fund value is paid out. The fund value is of two types – the base premium and top-up premium. The former is built from base premiums and the latter from top-up premiums. The total fund value is the sum of the base and top-up premium fund values. The fund value is computed as the number of units in credit multiplied by the prevailing net asset value. 
  • Death Benefit: If the case of unfortunate death of the policyholder, sum assured plus top-up sum assured (if any), base and premium fund value is paid to the nominee of the policyholder. The minimum death benefit is 105% of the total premiums paid towards the policy. The sum assured is chosen by the policyholder at the time of commencement of the policy. 
  • Policy Loan Benefit: Regardless of the Shriram Life Wealth Plus status, a policy loan is not available. 
  • Surrender Benefit: Shriram Life Wealth Plus policy can be surrendered anytime and after the lock-in period, the proceeds of the discontinued policy are paid. No charges are levied except for fund management charges. The discontinued policy earns a minimum guaranteed interest rate of 4% pa.  
  • Tax Benefits: Tax benefits can be availed on the paid premiums and as per existing tax laws benefits are received by the insured, as per Shriram Life Wealth Plus Income. Tax benefits for the Shriram Life Fortune Builder plan 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 Wealth Plus

The online Shriram Life Wealth Plus policy has a regular premium or limited premiums.

Minimum premium annually is Rs. 12,000. Half-yearly is Rs. 7,500. Quarterly is Rs. 5,000. Monthly is Rs. 2,000. 

There is no maximum premium limit.*

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

*Standard T&C Apply

Additional Riders for Shriram Life Wealth Plus

Additional riders can be taken apart from paying Shriram Life Wealth Plus premium.

The riders are Shriram Life Accidental Death and Disability Rider. Shriram Life Accidental Death and Disability Income Rider. Shriram Life Critical Illness Care Rider. 

Eligibility for Shriram Life Wealth Plus

The minimum age at entry for the Shriram Life Wealth Plus policy is 7 years and the maximum age for entry is 60 years. Max age at maturity is 70 years. 

What are the documents required to buy this policy?

To buy Shriram Life Wealth Plus, the following documents are required:

  • Identity proof, such as Aadhar card, voter's card, or passport
  • Address proof, such as Aadhar card, driving license, ration card, voter's card, or passport
  • Income proof, such as Income tax returns or salary slips

How to buy this plan online?

Shriram Life Wealth Plus can be purchased online. 

  • Only fill in the required details in the form. 
  • Use the premium Shriram Life Wealth Plus calculator to compute the premium amount every month. 
  • Choose the type of plan. To make an informed purchase, fill the pre-purchase form. Allow an insurance advisor to contact. Get the required details. 
  • Another way is to get access to the product brochure. Go through the details. Then buy online. Payment can be done online too. Premium payments can be set up to automatically be debited from the bank account. 

Exclusions of Shriram Life Wealth Plus

Shriram Life Wealth Plus reviews indicate that though it is a comprehensive plan, it does have exclusions, similar to other plans.  

  • If the life assured’s death is because of suicide within a year from the risk commencement date, or policy revival date, the accumulated fund value is paid. 

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 Wealth 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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