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Shrinidhi
THE PLAN
SHRINIDHI is a with-profits savings product offering liquidity along with life cover. The premiums are payable at regular intervals during the term of the policy and the policy term will always be a multiple of three years.
AGE
Age is determined by the last birthday i.e., the completed number of years. A standard age proof will have to be submitted along with the proposal.
GRACE PERIOD
A grace period of one month, but not less than 30 days, will be available for the payment of yearly, half-yearly and quarterly premiums.
REVIVAL
If a premium due is not paid before the end of the grace period, the policy lapses. The policyholder can revive the policy by paying the arrears of premium together with interest within a period of five years from the due date of first unpaid premium subject to submission of evidence of good health and the continued insurability of the life assured to the satisfaction of the company. The rate of interest charged by the company will be determined from time to time.
SUM ASSURED REBATES
| Sum Assured |
Rebate on sum assured |
| Below Rs. 1,00,000 |
Nil |
| From Rs. 1,00,000/- upto Rs.1,99,000/- |
Re. 1 per thousand |
| Rs. 2,00,000/- upto to Rs. 2,99,000/- |
Rs. 2 per thousand |
| Rs. 3,00,000/- and above |
Rs. 3 per thousand |
PAID UP VALUE
If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement of policy, the policy will not fully lapse, but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the policy term. The policy becomes an endowment policy and survival benefits are not payable during policy term. The paid-up value will be equal to the sum assured multiplied by the amount of premiums paid, divided by the total amount of premium payable less than the amount already paid as survival benefits. A policy that becomes paid up will not participate in future profits, but any bonuses already vested will be added in full to the paid up value determined as above. The paid up value together with the bonuses already vested shall be paid at the end of the policy term or death of the life assured whichever is earlier.
SURRENDER VALUE
The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
INCOME TAX BENEFITS
The premiums paid under this policy will be eligible for rebate as per sec. 80 C of the Income Tax Act, 1961. Benefits received from the life insurance policy are exempt from Income Tax under Sec 10 (10 D) of the Income Tax Act, 1961. However, it is advised that the proposer may consult his tax advisor for further details.
Shriraksha
THE PLAN
SHRIRAKSHA is a life insurance plan that combines security and savings. The premium is payable during the premium paying term at regular intervals. The total benefit payable to any policyholder during the policy term will equal two times the sum assured along with accrued bonuses.
ELIGIBILITY CONDITIONS
| Condition |
Limit |
| Minimum age at entry |
12 years |
| Maximum age at entry |
65 years |
| Maximum age at the end of premium paying term |
75 years |
| Minimum age at the end of the premium paying term |
18 years |
| Minimum premium paying term |
10 years |
| Maximum premium paying term |
25 years |
| Minimum sum assured |
Rs. 50,000 |
AGE
Age is determined by the last birthday i.e., the completed number of years. A standard age proof will have to be submitted along with the proposal.
PAID UP VALUE
If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement of policy, the policy will not fully lapse, but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the premium paying term. The paid-up value will be equal to the sum assured multiplied by the amount of premiums paid, divided by the total amount of premium payable.
A policy that becomes paid up will not participate in future profits, but any bonuses already vested will be added in full to the paid up value determined as above. The paid up value together with the bonuses already vested shall be paid at the end of the premium paying term or death of the life assured whichever is earlier.
SURRENDER VALUE
The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
Shrividya
THE PLAN
SHRI VIDYA is a life Insurance plan that provides security for the child's education. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
AGE
Age is determined by the last birthday i.e., the completed number of years.
A standard age proof will have to be submitted along with the proposal.
PAYMENT OF PREMIUM
Premiums can be paid yearly, half-yearly or quarterly
Rebates for different mode of payment of premiums are as under:
| Yearly |
1.5% of the tabular premium as rebate |
| Half-yearly |
0.75% of the tabular premium as rebate |
SUM ASSURED REBATES
| Sum Assured |
Rebate |
| Below Rs. 1,00,000 |
Nil |
| Rs. 1,00,000 to Rs. 1,99,000 |
Re. 1 per thousand |
| Rs. 2,00,000 to Rs. 2,99,000 |
Rs. 2 per thousand |
| Rs. 3,00,000 and above |
Rs. 3 per thousand |
GRACE PERIOD
A grace period of one month but not less than 30 days will be available for the payment of the yearly, half-yearly and quarterly premiums.
ShriPlus
SHRI PLUS offers an unique opportunity to create large tax free savings to meet specific needs of an individual such as education/marriage of children or saving for retirement etc, through investment in different types of unit funds. It also provides adequate insurance cover. Each year, units in the chosen unit fund will be allocated, after deducting defined charges from out of the contribution paid each year. In this plan, the investment risk in investment portfolio is borne by the policy holder.
ShriLaabh
SHRILAABH is a life insurance plan that combines security and savings. The premium is payable only once but life cover will be available.
ELIGIBILITY CONDITIONS
| Condition |
Limit |
| Minimum age at entry |
12 years age last birthday |
| Maximum age at entry |
65 years age last birthday |
| Maximum age at maturity |
75 years age last birthday |
| Minimum policy term |
5 years |
| Maximum policy term |
25 years |
| Minimum sum assured |
Rs.20,000/- |
AGE
Age is determined by the last birthday i.e., the completed number of years.A standard age proof will have to be submitted along with the proposal.
SURRENDER VALUE
The Guaranteed Surrender Value under the policy will be equal to 90% of the premium paid, provided a minimum of three years has elapsed from the date of commencement of the policy.
Shriplus (SP)
PLAN
SHRI PLUS (SP) offers an unique opportunity to make large savings to meet specific needs of an individual such as Education/Marriage of children or saving for retirement etc, besides getting adequate insurance cover, through investment in different types of unit funds. Out of the single contribution made at the time of commencement of the policy, the units in the chosen unit fund will be allotted, after deducting the defined charges each year.
UNIT PRICE
The unit price under each fund will be computed as under:
(Market value of investments held by the fund +/- the expenses incurred in the purchase/sale of the assets + the value of any current assets + any Accrued Income net of Fund Management Charge- the value of any current liabilities less provisions, if any)/(number of units existing at the valuation date)
SURRENDER VALUE
The policy can be surrendered after three years have elapsed from the date of commencement of the policy with no surrender charge.
CHARGES
PREMIUM ALLOCATION CHARGES
The Premium Allocation charge is an upfront charge levied at the time of receipt of premium at following rates, irrespective of the term of the plan.
| For, Premium=20000 and 50000 - |
5% of the single premium. |
| Premium=50000 and 100000 - |
3.5% of the single premium |
| Premium=100000 - |
2.75% of the single premium |
ShriVivah
THE PLAN
SHRI VIVAH is a life Insurance plan that provides financial support at the time of marriage of one's children. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
| Condition |
Limit |
| Minimum age at entry |
18 years |
| Maximum age at entry |
50 years |
| Maximum age at maturity |
75 years age |
| Minimum policy term |
7 years |
| Maximum policy term |
25 years |
| Minimum sum assured |
Rs.50,000/- |
AGE
Age is determined by the last birthday i.e., the completed number of years.A standard age proof will have to be submitted along with the proposal.
PAYMENT OF PREMIUM
Premiums can be paid yearly, half-yearly or quarterly
Rebates for different modes of payment of premiums are as under
| Yearly |
1.5% of the tabular premium as rebate |
| Half-yearly |
0.75% of the tabular premium as rebate |
Shrinidhi
THE PLAN
SHRINIDHI is a with-profits savings product offering liquidity along with life cover. The premiums are payable at regular intervals during the term of the policy and the policy term will always be a multiple of three years.
AGE
Age is determined by the last birthday i.e., the completed number of years. A standard age proof will have to be submitted along with the proposal.
GRACE PERIOD
A grace period of one month, but not less than 30 days, will be available for the payment of yearly, half-yearly and quarterly premiums.
REVIVAL
If a premium due is not paid before the end of the grace period, the policy lapses. The policyholder can revive the policy by paying the arrears of premium together with interest within a period of five years from the due date of first unpaid premium subject to submission of evidence of good health and the continued insurability of the life assured to the satisfaction of the company. The rate of interest charged by the company will be determined from time to time.
SUM ASSURED REBATES
| Sum Assured |
Rebate on sum assured |
| Below Rs. 1,00,000 |
Nil |
| From Rs. 1,00,000/- upto Rs.1,99,000/- |
Re. 1 per thousand |
| Rs. 2,00,000/- upto to Rs. 2,99,000/- |
Rs. 2 per thousand |
| Rs. 3,00,000/- and above |
Rs. 3 per thousand |
PAID UP VALUE
If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement of policy, the policy will not fully lapse, but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the policy term. The policy becomes an endowment policy and survival benefits are not payable during policy term. The paid-up value will be equal to the sum assured multiplied by the amount of premiums paid, divided by the total amount of premium payable less than the amount already paid as survival benefits. A policy that becomes paid up will not participate in future profits, but any bonuses already vested will be added in full to the paid up value determined as above. The paid up value together with the bonuses already vested shall be paid at the end of the policy term or death of the life assured whichever is earlier.
SURRENDER VALUE
The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
INCOME TAX BENEFITS
The premiums paid under this policy will be eligible for rebate as per sec. 80 C of the Income Tax Act, 1961. Benefits received from the life insurance policy are exempt from Income Tax under Sec 10 (10 D) of the Income Tax Act, 1961. However, it is advised that the proposer may consult his tax advisor for further details.
Shriraksha
THE PLAN
SHRIRAKSHA is a life insurance plan that combines security and savings. The premium is payable during the premium paying term at regular intervals. The total benefit payable to any policyholder during the policy term will equal two times the sum assured along with accrued bonuses.
ELIGIBILITY CONDITIONS
| Condition |
Limit |
| Minimum age at entry |
12 years |
| Maximum age at entry |
65 years |
| Maximum age at the end of premium paying term |
75 years |
| Minimum age at the end of the premium paying term |
18 years |
| Minimum premium paying term |
10 years |
| Maximum premium paying term |
25 years |
| Minimum sum assured |
Rs. 50,000 |
AGE
Age is determined by the last birthday i.e., the completed number of years. A standard age proof will have to be submitted along with the proposal.
PAID UP VALUE
If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement of policy, the policy will not fully lapse, but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the premium paying term. The paid-up value will be equal to the sum assured multiplied by the amount of premiums paid, divided by the total amount of premium payable.
A policy that becomes paid up will not participate in future profits, but any bonuses already vested will be added in full to the paid up value determined as above. The paid up value together with the bonuses already vested shall be paid at the end of the premium paying term or death of the life assured whichever is earlier.
SURRENDER VALUE
The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
Shrividya
THE PLAN
SHRI VIDYA is a life Insurance plan that provides security for the child's education. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
AGE
Age is determined by the last birthday i.e., the completed number of years.
A standard age proof will have to be submitted along with the proposal.
PAYMENT OF PREMIUM
Premiums can be paid yearly, half-yearly or quarterly
Rebates for different mode of payment of premiums are as under:
| Yearly |
1.5% of the tabular premium as rebate |
| Half-yearly |
0.75% of the tabular premium as rebate |
SUM ASSURED REBATES
| Sum Assured |
Rebate |
| Below Rs. 1,00,000 |
Nil |
| Rs. 1,00,000 to Rs. 1,99,000 |
Re. 1 per thousand |
| Rs. 2,00,000 to Rs. 2,99,000 |
Rs. 2 per thousand |
| Rs. 3,00,000 and above |
Rs. 3 per thousand |
GRACE PERIOD
A grace period of one month but not less than 30 days will be available for the payment of the yearly, half-yearly and quarterly premiums.
ShriPlus
SHRI PLUS offers an unique opportunity to create large tax free savings to meet specific needs of an individual such as education/marriage of children or saving for retirement etc, through investment in different types of unit funds. It also provides adequate insurance cover. Each year, units in the chosen unit fund will be allocated, after deducting defined charges from out of the contribution paid each year. In this plan, the investment risk in investment portfolio is borne by the policy holder.
ShriLaabh
SHRILAABH is a life insurance plan that combines security and savings. The premium is payable only once but life cover will be available.
ELIGIBILITY CONDITIONS
| Condition |
Limit |
| Minimum age at entry |
12 years age last birthday |
| Maximum age at entry |
65 years age last birthday |
| Maximum age at maturity |
75 years age last birthday |
| Minimum policy term |
5 years |
| Maximum policy term |
25 years |
| Minimum sum assured |
Rs.20,000/- |
AGE
Age is determined by the last birthday i.e., the completed number of years.A standard age proof will have to be submitted along with the proposal.
SURRENDER VALUE
The Guaranteed Surrender Value under the policy will be equal to 90% of the premium paid, provided a minimum of three years has elapsed from the date of commencement of the policy.
Shriplus (SP)
PLAN
SHRI PLUS (SP) offers an unique opportunity to make large savings to meet specific needs of an individual such as Education/Marriage of children or saving for retirement etc, besides getting adequate insurance cover, through investment in different types of unit funds. Out of the single contribution made at the time of commencement of the policy, the units in the chosen unit fund will be allotted, after deducting the defined charges each year.
UNIT PRICE
The unit price under each fund will be computed as under:
(Market value of investments held by the fund +/- the expenses incurred in the purchase/sale of the assets + the value of any current assets + any Accrued Income net of Fund Management Charge- the value of any current liabilities less provisions, if any)/(number of units existing at the valuation date)
SURRENDER VALUE
The policy can be surrendered after three years have elapsed from the date of commencement of the policy with no surrender charge.
CHARGES
PREMIUM ALLOCATION CHARGES
The Premium Allocation charge is an upfront charge levied at the time of receipt of premium at following rates, irrespective of the term of the plan.
| For, Premium=20000 and 50000 - |
5% of the single premium. |
| Premium=50000 and 100000 - |
3.5% of the single premium |
| Premium=100000 - |
2.75% of the single premium |
ShriVivah
THE PLAN
SHRI VIVAH is a life Insurance plan that provides financial support at the time of marriage of one's children. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
| Condition |
Limit |
| Minimum age at entry |
18 years |
| Maximum age at entry |
50 years |
| Maximum age at maturity |
75 years age |
| Minimum policy term |
7 years |
| Maximum policy term |
25 years |
| Minimum sum assured |
Rs.50,000/- |
AGE
Age is determined by the last birthday i.e., the completed number of years.A standard age proof will have to be submitted along with the proposal.
PAYMENT OF PREMIUM
Premiums can be paid yearly, half-yearly or quarterly
Rebates for different modes of payment of premiums are as under
| Yearly |
1.5% of the tabular premium as rebate |
| Half-yearly |
0.75% of the tabular premium as rebate |
GRACE PERIOD
A grace period of one month but not less than 30 days will be available for the payment of yearly, half-yearly and quarterly premiums
REVIVAL
If a premium due is not paid before the end of the grace period, the policy lapses. The policyholder can revive his policy by paying the arrears of premium together with interest within a period of five years from the date of first unpaid premium subject to submission of evidence of good health and the continued insurability of the life assured to the satisfaction of the company. The rate of interest charged by the company will be determined from time to time.
PAID UP VALUE
If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement of policy, the policy will not fully lapse but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the policy term. The paid-up value will be equal to the sum assured multiplied by the amount of premiums paid, divided by the total amount of premium payable. A policy that becomes paid up will not participate in future profits, but any bonuses already vested will be added in full to the paid up value determined as above. The paid up value together with the bonuses already vested shall be paid at the end of the policy term or death of the life assured whichever is earlier.
SURRENDER VALUE
The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, provided a minimum of three years' premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
LOAN
Loan will be available up to 90% of the surrender value of policy. The company will determine the rate of interest to be charged on such loan amount from time to time.
INCOME TAX BENEFITS
The premiums paid under this policy will be eligible for rebate as per sec. 80 C of the Income Tax Act, 1961.
Benefits received from the life insurance policy are exempt from Income Tax under Sec 10 (10 D) of the Income Tax Act, 1961. However, it is advised that the proposer may consult his tax advisor for further details.
Accidental Benefit Rider
In the event of the death of the life assured due to an accident, an additional amount equal to the basic sum assured will be paid along with the basic sum assured and accrued bonuses if any. In the event of the life assured becoming totally and permanently disabled due to an accident, an amount equal to the basic sum assured will be paid immediately after the date of becoming totally and permanently disabled and the basic sum assured with accrued bonus will be paid on the actual date of maturity of the policy or earlier death, and all future premiums payable under the policy from the next premium falling due from the date of the accident up to the date of the end of the premium term or earlier death will be totally waived.
Family Income Benefit Rider
In the event of accidental death or the life assured becomes totally and permanently disabled due to an accident within the policy term, 1% of sum assured is payable every month immediately from the end of the month of accident for a guaranteed period of 10 years or till the end of the policy term whichever is later. No surrender value or paid up value will be available under these riders.
Shrinidhi
THE PLAN
SHRINIDHI is a with-profits savings product offering liquidity along with life cover. The premiums are payable at regular intervals during the term of the policy and the policy term will always be a multiple of three years.
AGE
Age is determined by the last birthday i.e., the completed number of years. A standard age proof will have to be submitted along with the proposal.
GRACE PERIOD
A grace period of one month, but not less than 30 days, will be available for the payment of yearly, half-yearly and quarterly premiums.
REVIVAL
If a premium due is not paid before the end of the grace period, the policy lapses. The policyholder can revive the policy by paying the arrears of premium together with interest within a period of five years from the due date of first unpaid premium subject to submission of evidence of good health and the continued insurability of the life assured to the satisfaction of the company. The rate of interest charged by the company will be determined from time to time.
SUM ASSURED REBATES
| Sum Assured |
Rebate on sum assured |
| Below Rs. 1,00,000 |
Nil |
| From Rs. 1,00,000/- upto Rs.1,99,000/- |
Re. 1 per thousand |
| Rs. 2,00,000/- upto to Rs. 2,99,000/- |
Rs. 2 per thousand |
| Rs. 3,00,000/- and above |
Rs. 3 per thousand |
PAID UP VALUE
If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement of policy, the policy will not fully lapse, but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the policy term. The policy becomes an endowment policy and survival benefits are not payable during policy term. The paid-up value will be equal to the sum assured multiplied by the amount of premiums paid, divided by the total amount of premium payable less than the amount already paid as survival benefits. A policy that becomes paid up will not participate in future profits, but any bonuses already vested will be added in full to the paid up value determined as above. The paid up value together with the bonuses already vested shall be paid at the end of the policy term or death of the life assured whichever is earlier.
SURRENDER VALUE
The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
INCOME TAX BENEFITS
The premiums paid under this policy will be eligible for rebate as per sec. 80 C of the Income Tax Act, 1961. Benefits received from the life insurance policy are exempt from Income Tax under Sec 10 (10 D) of the Income Tax Act, 1961. However, it is advised that the proposer may consult his tax advisor for further details.
Shriraksha
THE PLAN
SHRIRAKSHA is a life insurance plan that combines security and savings. The premium is payable during the premium paying term at regular intervals. The total benefit payable to any policyholder during the policy term will equal two times the sum assured along with accrued bonuses.
ELIGIBILITY CONDITIONS
| Condition |
Limit |
| Minimum age at entry |
12 years |
| Maximum age at entry |
65 years |
| Maximum age at the end of premium paying term |
75 years |
| Minimum age at the end of the premium paying term |
18 years |
| Minimum premium paying term |
10 years |
| Maximum premium paying term |
25 years |
| Minimum sum assured |
Rs. 50,000 |
AGE
Age is determined by the last birthday i.e., the completed number of years. A standard age proof will have to be submitted along with the proposal.
PAID UP VALUE
If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement of policy, the policy will not fully lapse, but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the premium paying term. The paid-up value will be equal to the sum assured multiplied by the amount of premiums paid, divided by the total amount of premium payable.
A policy that becomes paid up will not participate in future profits, but any bonuses already vested will be added in full to the paid up value determined as above. The paid up value together with the bonuses already vested shall be paid at the end of the premium paying term or death of the life assured whichever is earlier.
SURRENDER VALUE
The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
Shrividya
THE PLAN
SHRI VIDYA is a life Insurance plan that provides security for the child's education. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
AGE
Age is determined by the last birthday i.e., the completed number of years.
A standard age proof will have to be submitted along with the proposal.
PAYMENT OF PREMIUM
Premiums can be paid yearly, half-yearly or quarterly
Rebates for different mode of payment of premiums are as under:
| Yearly |
1.5% of the tabular premium as rebate |
| Half-yearly |
0.75% of the tabular premium as rebate |
SUM ASSURED REBATES
| Sum Assured |
Rebate |
| Below Rs. 1,00,000 |
Nil |
| Rs. 1,00,000 to Rs. 1,99,000 |
Re. 1 per thousand |
| Rs. 2,00,000 to Rs. 2,99,000 |
Rs. 2 per thousand |
| Rs. 3,00,000 and above |
Rs. 3 per thousand |
GRACE PERIOD
A grace period of one month but not less than 30 days will be available for the payment of the yearly, half-yearly and quarterly premiums.
ShriPlus
SHRI PLUS offers an unique opportunity to create large tax free savings to meet specific needs of an individual such as education/marriage of children or saving for retirement etc, through investment in different types of unit funds. It also provides adequate insurance cover. Each year, units in the chosen unit fund will be allocated, after deducting defined charges from out of the contribution paid each year. In this plan, the investment risk in investment portfolio is borne by the policy holder.
ShriLaabh
SHRILAABH is a life insurance plan that combines security and savings. The premium is payable only once but life cover will be available.
ELIGIBILITY CONDITIONS
| Condition |
Limit |
| Minimum age at entry |
12 years age last birthday |
| Maximum age at entry |
65 years age last birthday |
| Maximum age at maturity |
75 years age last birthday |
| Minimum policy term |
5 years |
| Maximum policy term |
25 years |
| Minimum sum assured |
Rs.20,000/- |
AGE
Age is determined by the last birthday i.e., the completed number of years.A standard age proof will have to be submitted along with the proposal.
SURRENDER VALUE
The Guaranteed Surrender Value under the policy will be equal to 90% of the premium paid, provided a minimum of three years has elapsed from the date of commencement of the policy.
Shriplus (SP)
PLAN
SHRI PLUS (SP) offers an unique opportunity to make large savings to meet specific needs of an individual such as Education/Marriage of children or saving for retirement etc, besides getting adequate insurance cover, through investment in different types of unit funds. Out of the single contribution made at the time of commencement of the policy, the units in the chosen unit fund will be allotted, after deducting the defined charges each year.
UNIT PRICE
The unit price under each fund will be computed as under:
(Market value of investments held by the fund +/- the expenses incurred in the purchase/sale of the assets + the value of any current assets + any Accrued Income net of Fund Management Charge- the value of any current liabilities less provisions, if any)/(number of units existing at the valuation date)
SURRENDER VALUE
The policy can be surrendered after three years have elapsed from the date of commencement of the policy with no surrender charge.
CHARGES
PREMIUM ALLOCATION CHARGES
The Premium Allocation charge is an upfront charge levied at the time of receipt of premium at following rates, irrespective of the term of the plan.
| For, Premium=20000 and 50000 - |
5% of the single premium. |
| Premium=50000 and 100000 - |
3.5% of the single premium |
| Premium=100000 - |
2.75% of the single premium |
ShriVivah
THE PLAN
SHRI VIVAH is a life Insurance plan that provides financial support at the time of marriage of one's children. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
| Condition |
Limit |
| Minimum age at entry |
18 years |
| Maximum age at entry |
50 years |
| Maximum age at maturity |
75 years age |
| Minimum policy term |
7 years |
| Maximum policy term |
25 years |
| Minimum sum assured |
Rs.50,000/- |
AGE
Age is determined by the last birthday i.e., the completed number of years.A standard age proof will have to be submitted along with the proposal.
PAYMENT OF PREMIUM
Premiums can be paid yearly, half-yearly or quarterly
Rebates for different modes of payment of premiums are as under
| Yearly |
1.5% of the tabular premium as rebate |
| Half-yearly |
0.75% of the tabular premium as rebate |
Shriram immediate Annuity Plan
SHRIRAM LIFE INSURANCE COMPANY LTD
Shriram Life Insurance Company Ltd is a joint venture of the Shriram Group with Sanlam Life Insurance Company, one of the largest life insurance companies of South Africa.
The Shriram Immediate Annuity Plan
It is an annuity plan that combines annuity and protection. The premium is payable only once but life cover will be available throughout the policy term.
Paid-up value
The policy does not acquire any paid-up value.
Surrender Value
The policy does not acquire any surrender value.
Loans
No loans will be granted under the policy.
Free Lock Period
If you are not satisfied with the 'Terms and conditions' of the policy, the policy can be returned to the Company within 15 days of receipt together with a request for cancellation. However, the company reserves the right to deduct stamp duty expense incurred by the company for issue of the policy.
For further details, please contact our Insurance Advisors or our nearest Divisional Office.
Extract from section 41 of Insurance Act, 1938
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor any person taking out or renewing or continuing a policy accept any rebate except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer: provided that acceptance by an insurance agent of commission in connection with a policy of insurance taken out by himself on his own life shall not be deemed to be acceptance provided the insurance agent satisfies the prescribed conditions establishing that he is a bone fide insurance agent employed by the insurer.
(2) Any person making default in complying with the provisions of this section shall be punishable with a fine, which may extend to Rs.500/-.
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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