Shriram New Shri Vidya Plan

Shriram New Shri Vidya 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 debt.

Key Features

  • Sum assured plus stream of monthly income on death to offset monetary losses.
  • Additional sum assured in equal instalments after death or on survival at the end of each of the last four years of policy to suit your child's educational requirements.

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.
The accrued reversionary bonuses and the terminal bonus, if any, will be paid immediately on death. The policy will not accrue any future bonuses after death

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 18 years 50 years
MATURITY AGE - 70 years
SUM ASSURED Minimum Rs. 100, 000 No limit
PREMIUM PAYMENT TERM
PolicyTerm 10 15 20 25
Premium Paying Term 10 7,10,15 7,10,20 7,10,15,25
POLICY TERM Regular pay: fixed terms 10/15/20/25 years
Limited pay: fixed terms 15/20/25 years
PAYMENT MODES Yearly, Half Yearly, Quarterly, Monthly

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