Shriram New Shri Life Plan

Shriram New Shri Life Plan is a non-linked participating endowment plan. Besides being a systematic savings option, the plan acts as a reliable protection tool to your family in case of any adverse mishap to you. Shriram New Shri Life Plan is ideal because of the potential upside of reversionary bonuses which may be added to your life cover year by year and also the maturity benefit.

Key Features

  • Life cover and reversionary bonuses
  • Limited and regular premium pay options.
  • Attractive sum assured rebates.
  • Facility to pay premiums in advance at discount.
  • Settlement option to receive benefits in installments with addition of interest.
  • Additional protection through riders
  • Tax benefits as per tax laws

Benefits

  • Maturity Benefit:
In case of survival of the life assured up to the end of the policy term and provided all the due premiums have been paid, basic sum assured plus accrued Reversionary Bonuses and Terminal Bonus, if any will be paid.
  • 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 have been paid, the following benefits are paid to the nominee or beneficiary.
1) Sum assured on Death
2) Accrued Reversionary Bonuses plus Terminal Bonus, if any, immediately on death.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 30 days 65 years
AGE OF MATURITY 18 75
SUM ASSURED Rs.50000 NO LIMIT
PREMIUM PAYMENT TERM 10/15/20/25
POLICY TERM 8 10
PAYMENT MODES Yearly, Half Yearly, Quarterly, Monthly

What if?

I am unable to pay the premium

  • Grace period of 30 days will be provided

I want to take a loan

  • Such option is available under this policy