Shriram Life Golden Premier Saver Plan

Shriram Life Golden Premier Saver Plan

ABOUT THE PLAN
Shriram Life presents Shriram Life Golden Premier Saver Plan, specially designed to combine protection with savings while giving you the options to customise.

1. Protect your family - Life cover for chosen policy term

2. Grow your Savings - Assured Benefit on maturity along with bonus*

3. Additional benefits - Get another assured sum assured through extended cover benefits*

* Provided the policy is in force and all due premiums have been paid

KEY FEATURES
1. Option to choose the extended life cover till the age of 80 years, wherein additional sum assured is paid on survival up to 80 years of age#

2. Life cover for chosen policy term with an assured lump sum paid on maturity

3. Option to choose the way you receive the maturity benefit - Lump sum or Income plus Lump sum

4. Minimum premium paying term - 5 years

5. Enhancement of life cover through Riders

6. Additional rewards in the form of bonus* with the assurance of at least 4% of Sum Assured in each of the first 5 policy years

7. Premium discount on a higher sum assured

* If any | # on payment of additional premium

KEY BENEFITS
Maturity Benefit

1. Lump-sum Option:
In case of survival of the life assured till the end of the policy term (provided the policy is in force), "Guaranteed Maturity Sum Assured" along with the accrued bonus (if any) and terminal bonus (if any) will be paid, provided all due premiums have been paid.

2. Income plus Lump sum Option:
Income benefit equal to 10% of the sum assured shall be paid annually at the end of each of the last five policy years provided the policy is in force.
In case of survival of the life assured till the end of the policy term, the lump sum benefit equal to 50% of the "Guaranteed Maturity Sum Assured" along with the accrued bonus (if any) and terminal bonus (if any) shall be paid.

Apart from the benefits mentioned above, this plan offers an additional benefit -

Extended Cover Benefit

By choosing this option and paying the additional premiums, in addition to the benefits mentioned above, the policyholder will get life insurance cover for an extended term (i.e. the period from the date of maturity to the date on which the life assured attains the age of 80 years). In case of death of the life assured during the extended cover term or on survival up to end of extended cover term, one sum assured will be paid and the policy will be terminated.
The extended cover benefit cannot be surrendered individually.

Death Benefit

In case of death of the life assured during the policy term provided the policy is in-force, "Death Sum Assured" along with the accrued bonus, (if any) and terminal bonus, if any, will be paid in lump sum to the nominee (s) or beneficiary (ies).

"Death Sum Assured" is defined as highest of the following-

1. Absolute amount assured to be paid on death

2. 10 times the annualised premium&

3. 105% of All Premiums Paid till the date of death

4. Guaranteed Maturity Sum Assured

Where

"Absolute amount assured to be paid on death" is the 'Sum Assured' which is chosen by the policy holder excluding underwriting extra premiums, rider premiums and loadings for modal premiums, if any.

"All Premiums Paid" is the total of all premiums paid till the date of death excluding any extra premiums, any rider premiums, and taxes.

"Guaranteed Maturity Sum Assured" is the 'Sum Assured' whhich is chosen by the policyholder at the time of proposal.

For Income plus Lump-sum Option, Income benefits that have already been paid shall not be deducted from the death proceeds.

ELIGIBILITY