Shriram Life Investment Plans

Shriram Life insurance offers investment products like:

Shriram Life Growth Plus

Shriram Life Growth Plus is essentially a unit-linked insurance scheme which provides the benefit of both, life cover and monetary savings. Using market-linked returns for wealth creation, the plan offers a multitude of options with respect to premium payment and investment flexibility.

Product Benefits

• Maturity Benefits: If the insured person survives till the policy matures, the total fund value payable would be the base premium fund value and the top-up premium fund value.
• Death Benefits: If the insured person dies before the policy matures, either one of the following two options can be availed:
  1. Fund value + sum assured + top-up sum assured
  2. The higher of sum assured or base premium fund value), plus value of top-up Sum Assured or top-up premium fund value

Eligibility Details

• The minimum entry age is 30 days while the maximum entry age is 60 years.
• The minimum maturity age is 18 years while the maximum maturity age is 70 years.
• The policy term availed can last for 10, 15, or 20 years.
• Premium payment term – Regular, Limited for 6 years and single
• Minimum Sum Assured - Rs. 2,10,000 for Regular, Rs. 4,20,000 for Limited, Rs. 55,000 for Single.

How the Plan Works

• Premium is invested in the chosen fund in case of death, the applicable death benefit is paid as per the plan option chosen. On maturity, applicable maturity benefit becomes payable.
• Add-on riders like accident benefit rider, critical illness cover, and family income benefit are also provided.

Shriram Life Fortune Builder

Shriram Life Fortune Builder plan is a single premium insurance scheme, which has been specifically designed to cater to the needs of those people who cannot make frequent premium payments owing to a lack of consistent cash flow. The one-time lump sum payment is unit-linked.

Product Benefits

• Maturity Benefits: If the insured person survives till the policy matures, the total fund value, along with the top-up fund value, if any would be payable.
• Death Benefits: If the insured person dies before the policy matures:
  1. The total sum insured or the value of units in the insured person's account, whichever is higher, would be paid to the nominee.
  2. The sum insured would include the basic sum + top-up amount.

Eligibility Details

• The policy can be entered into when a child is born and the maximum age of entry is 60 years.
• The maximum maturity age of the policy is 75 years.
• The policy can last up to 10, 15, and 20 years.
• The minimum premium is Rs. 25,000.
• No specific riders are available with this particular plan, however, a tax benefits are provided as per prevailing Tax rules.

How the Plan Works

Premium is invested in the chosen fund in case of death, the applicable death benefit is paid as per the plan option chosen. On maturity, applicable maturity benefit becomes payable.3.

Shriram Life Wealth Plus

As the name itself suggests, Shriram Life Wealth Plus plan does not just offer insurance cover, but also provides a way to grow investments and enhance returns. Moreover, it protects your loved ones against any financial upheaval which they might have to face in your absence.

Product Benefits

• Maturity Benefits: If the insured person survives till the policy matures, the value of units in the insured person's account clubbed with the top-up fund value (if any) becomes payable.
• Death Benefits: If the insured person dies before the policy matures, then:
  1. If the policy is active, the payable amount would be- Total insured sum + Unit value + Top-up sum assured amount if any + Top-up fund value if any.
  2. If the policy is inactive/discontinued, the discontinued fund value would be paid.

Eligibility Details

• A minimum entry age of 7 years and a maximum entry age of 65 years.
• A maximum maturity age of 75 years.
• The policy can last up to either 10 or15 to 25 years.
• The premium can be paid on a monthly, quarterly, half-yearly, or yearly basis.
• The premium paying term is same as the policy term. However, an option to pay premiums for a short-term like 5/10/15/20 years will be provided.
• Partial withdrawals, fund switch and auto transfer facilities are also available.
• As per the prevailing tax rules, tax benefits will be offered.

How the Plan Works

Premium is invested in the chosen fund in case of death, the applicable death benefit is paid as per the plan option chosen. On maturity, applicable maturity benefit becomes payable.

Shriram Ujjwal Life (SP)

Offering the dual benefits of life protection and market-linked returns, Shriram Ujjwal Life (SP) insurance plan aims to ensure that all your financial objectives are sustainably achieved.

Product Benefits

• Maturity Benefits: If the insured person survives till the policy matures, the total fund value and the top-up fund value if any would be paid.
• Death Benefits: If the insured person dies before the policy matures, the following would be rendered payable-
  1. Insured sum + Unit value + Top-up sum assured amount if any + Top-up fund value if any
  2. In case of discontinuance, total discontinued fund value subject to an interest guaranteed by IRDA, would be paid to the beneficiary.

Eligibility Details

• A minimum entry age of 7 years and a maximum entry age of 65 years.
• A maximum maturity age of 75 years.
• The policy has a fixed term of 10 years.
• A minimum premium of Rs. 35,000 has to be paid. Nonetheless, there is no limit on the maximum payable premium.
• Partial withdrawals, surrender benefits, and six different funds to invest in are made available to all policyholders.

How the Plan Works

• Premium is invested in the chosen fund in case of death. The applicable death benefit is paid as per the plan option chosen. On maturity, applicable maturity benefit becomes payable.

Shriram Ujjwal Life

Shriram Ujjwal Life is a regular insurance plan which enables you to fulfil multiple goals like education, marriage, and retirement. The plan also offers safeguards against financial uncertainty.

Product Benefits

• Maturity Benefits: If the insured person survives till the policy matures, the total fund value and the top-up fund value if any would be paid.
• Death Benefits: If the insured person dies before the policy matures, then:
  1. The payable amount would be - Total insured sum + Unit value + Top-up sum assured amount if any + Top-up fund value if any.
  2. If the policy is inactive/discontinued, the total discontinued fund value would still be paid.

Eligibility Details

• A minimum entry age of 7 years and a maximum entry age of 65 years.
• A maximum maturity age of 75 years.
• The policy has a fixed term of 10 years.
• The minimum sum insured would be 10/7 times the annualised premium, while the maximum sum insured is subject to policy.
• A minimum premium of Rs. 30,000 has to be paid.
• The premium has to be paid in a yearly mode, which may coincide with the policy term.
• No additional riders are available with this plan., Tax benefits can be claimed.

How the Plan Works

Premium is invested in the chosen fund, in case of death, the applicable death benefit is paid as per the plan option chosen. On maturity, applicable maturity benefit becomes payable.