Shriram Life Pension Plus Plan

Eligibility Criteria for the Shriram Life Pension Plus Plan

Features of the Shriram Life Pension Plus Plan

Some of the key features of the Shriram Life Pension Plus Plan include:

• The plan has various fund choices, and it is up to you to make an investment as per your risk appetite and retirement objectives.

• It offers a scope of options in which one can select the policy term between 10 and 35 years.

• The plan does not charge extra and even offers unlimited switching of funds and redirection of premiums.

• Additions are loyalty contributions that can be added to the policy and contribute to the overall fund value over time.

• Top-up premiums can be paid in order to increase your retirement corpus.

• The plan will be market-driven, and its returns will be tied to the performance of the chosen funds.

You can explore more options under Shriram Life Pension Plans to compare similar retirement-focused offerings and choose what fits your long-term goals best.

Benefits of the Shriram Life Pension Plus Plan

The Shriram Life Pension Plus Plan provides savings and retirement income benefits. It fits those who aim to form a retirement base whose growth is based on the market.

1. Vesting Benefit:

   On survival up to the end of the policy term, you will get the greater of the total fund value or the assured vesting benefit.

2. Death Benefit:

   On the event of death during the policy period, the nominee is bound to get the greater of the fund total value and assured death benefit as per the policy terms.

3. Retirement Income:

   At retirement, the accumulated corpus can be used to buy an annuity, which will assist you in getting a constant stream of income.

4. Flexibility:

   You may decide how to deploy your proceeds of maturity, which include special commutation in accordance with the relevant laws.

Policy Details of the Shriram Life Pension Plus Plan

Understanding the policy terms helps you make better decisions when selecting a retirement plan.

1. Grace Period

   There is a grace period of 30 days (annual mode) and 15 days (monthly mode) for the course of payment of premiums beyond the due date.

2. Revival

   The policy can be revived after discontinuation by paying the outstanding premiums within the prescribed revival period.

3. Free Look Period

   You are allowed 30 days from the date you receive the policy document to review and cancel it if necessary.

4. Surrender

   The policy can be surrendered after the lock-in period, and the fund value will be payable as per policy terms.

5. Fund Switching

   The plan allows unlimited fund switching during the term of the policy.

If you are looking to diversify your financial strategy, you can also explore investment plans that combine savings with potential wealth creation over time.

Exclusions Under the Shriram Life Pension Plus Plan

1. Suicidal Clause

   In case death is due to suicide within 12 months of the commencement or revival of the policy, the benefit due will be as per the terms and conditions of the policy.