Shriram Life Growth Plus

Shriram Life Growth Plus is a savings oriented unit linked insurance plan which offers both life cover and savings through market linked returns. The plan offers multiple choices in respect of premium payment, fund classes and flexibility of investment.

Key Features

  • Two death benefit options
  • Loyalty additions

Benefits

  • Maturity Benefit:
survival of the Life Assured up to the end of the policy term, the fund value will be payable where fund value is total of base premium fund value and Top up premium fund value, if any. Base premium fund value is fund value built up from base premiums chosen by the policyholder at the time of inception Top-up premium fund value is fund value built up from top-up premiums Fund value is the sum of base premium fund value and top-up premium fund value.
  • 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 Life Assured during the policy term
Option I
Sum Assured Plus top-up sum assured (if any), plus fund value where fund value is total of base premium fund value and top up premium fund value, will be paid to the nominee or beneficiary and the policy will be terminated.
Option II
Higher of
1) Sum assured (less partial Withdrawals#)
2) Base Premium fund value plus
Higher of:
1) Top-up sum Assured
2) Top-up sum Assured

ADD ONS

Shriram Life Growth Plus(UIN 128L066V01)
Unit Linked Life Insurance Products are different from the traditional insurance products, as in the former, the investment risk in the investment portfolio is borne by the policyholder. 'Shriram Life Insurance Company Limited' is only the name of the insurance company and 'Shriram Life Growth Plus' is only the name of the Unit Linked Life Insurance Contract and does not in any way indicate the quality of the contract or its future prospects of return.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 30 days 60 years
AGE OF MATURITY - 70 years
SUM ASSURED For Single Premium Policies :
1.25 times single premium
If the age at entry is 45 years and above
For Regular and Limited Premium Policies:
10 times annualised premium if age at entry is less than 45 years and 7 times the annualized premium
If the age at entry is 45 years and above
Single: Rs.55,000
Regular : Rs. 2,10,000
Limited: Rs. 4,20,000
Regular /Limited Premium: 10 times the Annualised Premium. Single premium: 1.25 to 10 times single premium depending on age at entry as per table below
Age Band Maximum Sum assured (No.of times)
Age Band Maximum Sum assured (No.of times)
Up to 30 years 10
31 to 40 years 5
41 to 50 years 2
51 to 60 years 1.25
PREMIUM PAYMENT TERM Limited- 6 years
Regular- same as policy term
Single - Single
POLICY TERM 10/15/20 years
PAYMENT MODES Regular/Limited: Yearly and Monthly (on ECS mode only.)

What if?

I am unable to pay the premium

  • Grace period of 30 days will be provided and you should pay the premium with in the specified time period.

I want to take a loan

  • No Such option is available under this policy