Shriram Life New Shri Vidya

Shriram Life New Shri Vidya

SHRIRAM LIFE NEW SHRI VIDYA
Your child's future is the most important concern for you. With the soaring educational expenses in today's life, giving good education will be tough unless it is planned. We have Shriram New Shri Vidya plan designed for you to make your child's aspirations come true. The plan offers survival benefits to adjust according to your child's education requirements and also insurance cover in case of any unfortunate event happens to you.

KEY FEATURES

1. Sum assured plus stream of monthly income on death to offset monetary losses

2. Reversionary Bonuses to enhance your savings and life cover

3. Additional protection through Riders

4. Attractive high sum assured rebates

5. Additional sum assured to suit your child's educational requirements

KEY BENEFITS

Survival Benefits#

In case of survival of the life assured up to the end of each of the last four years of the policy, provided the policy is in force, 25% of basic sum assured at the end of each of the last four years will be paid.

Maturity Benefit#

In case of survival of the life assured up to the end of the policy term, provided the policy is in force, Accrued Reversionary Bonuses and Terminal Bonus (if any) will be paid.

Death Benefits#

In case of death of the life assured anytime during the policy term, provided the policy is in force, the death benefit will be paid as mentioned below -

1. Sum Assured along with the accrued reversionary bonuses (if any) and terminal bonus (if any) Immediately on Death plus
2. Additional Benefit :
i. Family Income Benefit of 1% of the sum assured at the end of each month following the date of death till the end of the policy term but not less than 36 monthly payments
ii. 25% of the sum assured at the end of each of the last policy years
The option to receive entire death benefit in lump sum can be exercised by the policyholder anytime during the policy term or by nominee(s) at the time of death.
The Lump sum benefit payable at the time of death is equal to "Sum Assured on Death" along with Accrued Reversionary Bonuses (if any) and terminal bonus (if any).

Sum Assured on Death is higher of -

1. 10 times the Annualised Premium&
2. Sum Assured plus discounted value of Additional Benefit at the end of month of the death
However the death benefit will be at least 105% of All Premiums Paid till the date of death.

The policy will not accrue any future bonuses after death.