Shriram Life Pension Plus

Shriram Life Pension Plus

SHRIRAM LIFE PENSION PLUS
In this policy, the investment risk in the investment portfolio is borne by the policyholder.

The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year.

Shriram Life Pension Plus helps you to meet your retirement goals by building a large corpus on vesting for investment to enable the policyholder to have a steady regular income for life by purchasing an immediate annuity plus. The plan offers four types of funds to choose for investing premiums under this plan.

We all want to retire in a position where we are assured of financial security and peace of mind. This is very much possible if we plan ahead for retirement by 20-30 years into our working life. One of the ways to plan for retirement is with a unit-linked pension plan.

Unit-linked retirement plan or Pension ULIPs are market-linked pension products offered by life insurance companies. They are suitable for individuals looking for a long-term retirement plan that doubles up as an investment.

Shriram Life Insurance offers Shriram Life Pension plus V03 plan. In this policy, you can enjoy the opportunity to get potentially better returns and grow your money by investing in a mix of equity and debt. This combination helps you beat inflation while protecting your investments.

KEY FEATURES

1. No maximum limit on top up premium

2. Multiple funds and investment strategies to choose from

3. Unlimited Switching & Premium Redirection free of cost

4. Choice of Policy Term - 10, 15 to 35 years

5. Loyalty additions

KEY BENEFITS

Vesting Benefits#
On survival of the policyholder up to the end of the policy term,

Higher of

1. Total Fund Value
2. Assured vesting benefit will be paid.
Where Assured vesting benefit is defined as 101% of total premiums paid.

On date of Vesting, the policyholder can utilise the proceeds to buy a suitable retirement solution for himself.

Death Benefits#

In case of death of policyholder during the policy term, higher of:

1. Total Fund Value
2. Assured death benefit
will be paid to nominee and policy will be terminated.

Total fund value is defined as the sum of base premium fund value plus top-up fund value.

Base premium fund value is the value of the fund built from the base premiums.

Top-up premium fund value is the value of the fund built from the top-up premiums.

Assured death benefit is defined as 105% of the total premiums paid.

Total premiums paid are the total of base premiums paid and the top-up premiums paid.