Shriram Life Secure Investment Plan, Policy, Premium and Maturity Calculator - Shriram Secure Investment Plan is a traditional savings plan with a one- time investment which yields great benefits to provide for the policyholder’s secured future.
Key Features - Shriram Secure Investment Plan and Policy
- It is a non-participating plan with Single premium payment option
- The plan promises guaranteed Maturity benefits
Benefits - Shriram Secure Investment Plan and Policy
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On death, the Sum Assured on death is payable which is higher of 125% of the Single Premium is age is less than 45 years or 110% of the Premium for ages equal to and above 45 years or the Guaranteed Maturity Benefit
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On maturity, the Guaranteed Maturity Benefit is paid which is calculated multiplying the guaranteed maturity benefit factor with the single premium paid
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The guaranteed maturity benefit factor depends on the amount of premium paid, age and the policy term chosen
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Income tax benefit on the premium paid as per Section 80C and on claims received as per Section 10(10D) of the Income Tax Act.
Product Specification - Shriram Secure Investment Plan and Policy
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
30 days |
60 years |
Maturity Age (Last Birthday) |
- |
65 years |
Policy Term (PT) in years |
5 or 10 |
|
Premium Paying Term (PPT) in years |
Single pay |
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
Yearly Premium |
40,000 |
No limit |
Sum Assured |
49,600 |
No limit |
Details About Premium - Shriram Secure Investment Plan and Policy
Premium in Rupees and the corresponding Sum Assured
Age |
30 years |
40 years |
50 years |
Premium |
50,000 |
50,000 |
50,000 |
Sum Assured for 5 year term |
62,500 |
62,500 |
62,500 |
Sum Assured for 10 year term |
80,500 |
80,000 |
78,500 |
Policy Details - Shriram Secure Investment Plan and Policy
Grace Period: grace period is not applicable in single pay plans
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy whereupon the Surrender Value will be paid which will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
GSV = GSV % of Single premium paid
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Inclusions - Shriram Secure Investment Plan and Policy
- Loan is available under the plan @ 90% of Surrender Value
Exclusions - Shriram Secure Investment Plan and Policy
- In case of suicide within 12 months of policy inception 80% of the single premium paid will be paid
Documents Required - Shriram Secure Investment Plan and Policy
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and necessary KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
Shriram Life Savings Insurance Plans and Policy |
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