Shriram Life Assured Income Plan

Shriram Life Assured Income Plan is an affordable, easy-to-obtain financial security net for you and your loved ones. It pays a lump sum payment in case of unfortunate death helping your family to reduce their debts.

Key Features

  • Life cover for the full policy term
  • Get Assured Regular Income after the policy term
  • Fixed Policy term: 8 years or 10 years
  • Additional Protection through riders
  • Longer the term Higher the income
  • More the Premium More the Returns
  • Choice of multiple payment options

Benefits

  • Maturity Benefit:
In case of survival of the life assured up to the end of the policy term and receipt of all the due premiums, the assured income payouts will be paid as scheduled at the start of each policy year after the end of the policy term during benefit payout period. However, the life assured will also have an option to take the assured benefit payouts in lump sum. The lump sum benefit will be the maturity sum assured. If the life assured dies after commencement of the assured income, the outstanding assured income payouts will continue as scheduled to the nominee or beneficiary.
  • Tax Benefit
Tax benefits are subject to conditions specified under section 10(10D) and section 80C of the Income-tax Act, 1961. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant. Service Tax & Cess, as applicable shall be levied over and above premium amount shown here as per applicable tax laws.
  • Death Benefit
In case of death of the life assured during the policy term, provided all the due premiums till the date of death have been paid, death sum assured will be paid. The death benefit will be paid to the nominee or beneficiary in any of the following option exercised: Higher of
1) Lump Sum
2) Regular payouts
3) 50% death benefit as lump sum and remaining 50% as regular payouts.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 30 days 50 years
AGE OF MATURITY - 58 years age last birthday for policy term of 8 years
60 years age last birthday for policy term of 10 years
SUM ASSURED 8 X Annualised Premium 10 X annualised Premium
PREMIUM PAYMENT TERM Same as policy term
POLICY TERM 8 10
PAYMENT MODES Yearly, Half Yearly, Quarterly and Monthly

What if?

I am unable to pay the premium

  • Grace period of 30 days will be provided

I want to take a loan

  • No Such option is available under this policy