Shriram Life Insurance Endowment Plans

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

Shriram Life Insurance offers traditional endowment plans that provides life cover during the policy term, guaranteed returns, and tax benefits. If you are looking for long-term investment and a lump sum amount at the end of the policy term, then Shriram Life Insurance Endowment Plans are suitable for you. Endowment plans can be divided into 2 types:

• Endowment with profit: The beneficiary will receive the assured corpus on policy maturity or demise of the life assured along with bonuses for the number of years the policy was active.
• Endowment without profit: The beneficiary will receive the maturity benefit or death benefit but no bonuses. This type of endowment plan is suitable if you are looking for a life cover.

Benefits of Shriram Life Insurance Endowment Plans:

Under the Shriram Life Insurance Endowment Plans, you get following benefits:

• Guaranteed returns: The endowment plans offered by Shriram Life Insurance gives you guaranteed returns at the end of policy maturity. In the unfortunate event of demise of the policyholder, the benefits will be paid to the nominee.
• Additional Bonuses: Endowment plans with profit offers you additional bonuses along with assured corpus upon reaching policy maturity or in the unfortunate event of demise of the life assured. The 2 types of bonuses offered are Reversionary Bonus and Terminal Bonus. Purchase endowment plans with a longer policy term of 15 to 20 years as the maturity amount is directly related to the years of accumulation.
• Surrender Benefit: Policy attains Surrender Value after 2 full years' premiums are paid. Surrender benefit will be paid if the policy is surrendered after completion of 2 policy years. Surrender benefit is lower than total premiums paid in the initial years.

List of Endowment Plans provided by Shriram Life Insurance:

Shriram Life Insurance offers 3 endowment plans to suit the varying needs of its customers:

Shriram New Shri Life Plan:

Under this plan, you get life cover, financial security for your family in the case of any mishap to you, and the opportunity for systematic savings.

Benefits and Features of Shriram New Shri Life Plan:

• Life cover for full policy term and reversionary bonuses added to your life cover year after year.
• Limited and regular premium payment options are available.
• Get attractive rebates on Sum Assured.
• You can choose to pay premiums in advance and enjoy discounts.
• You can choose to get the benefits in installments with interest.
• Get enhanced protection through riders.
• Get tax deductions on premiums paid and maturity proceeds under Income Tax Act, 1961.
• Upon reaching policy maturity date, the Maturity benefit payable equals Sum Assured plus accumulated reversionary bonus plus terminal bonus, provided all premiums are paid.
• Sum Assured on Death is higher of Basic Sum Assured or 10 times the annual premium of the entry age is below 45 years and 7 times the annual premium if the age is 45 years and above.
• Death Benefit payable to nominee equals Sum Assured on Death plus accumulated reversionary bonus and terminal bonus. Death Benefit will be minimum 105% of all premiums paid excluding extra premiums, rider premiums, and taxes.
• You can opt for Family Income Benefit Rider, Accident Benefit Rider, Extra Insurance Cover, and Critical Illness Cover to get enhanced protection.
• Policy Term: 10, 15, 20, 25 years.
• Premium Payment Term:

  Policy Term	10 years	15 years	20 years	25 years
  PPT	7, 10 years	5, 7, 10, 15 years	5, 7, 10, 20 years	5, 7, 10, 15, 25 years

• Sum Assured: Minimum Rs.50,000 and maximum sum assured limit is subject to underwriting.
• Premium Payment Mode: Yearly, half-yearly, quarterly, and monthly.

Shriram New Shri Vidya Plan:

This plan offers Life Cover and survival benefits in accordance with your child’s educational needs.

Benefits and Features of New Shri Vidya Plan:

• Sum Assured on Death is higher of Basic Sum Assured, additional death benefit or 10 times the annual premium if the age is below 45 years and 7 times the annual premium if the age is 45 years and above. Additional death benefit can be received as a lump sum amount or 25% of Basic Sum Assured paid at the end of every 4th policy year and Family Income Benefit (monthly income benefit of 1% of Basic Sum Assured will be paid till the end of policy term, subject to a minimum of 36 monthly payments).
• Death Benefit equals Sum Assured on Death, accumulated reversionary bonuses plus terminal bonus. Death Benefit will be minimum 105% of all premiums paid excluding extra premiums, rider premiums, and taxes.
• Survival Benefit equals 25% of Basic Sum Assured at the end of every 4th policy year.
• Maturity Benefit equals accumulated reversionary bonuses and terminal bonus.
• You can opt for Accident Benefit Rider, Extra Insurance Cover, and Critical Illness Cover to get enhanced protection.
• Under this plan, you can get Sum Assured plus monthly income payable to the family upon demise of the life assured.
• Policy Term: 10, 15, 20, 25 years.
• Premium Payment Term:

  Policy Term	10 years	15 years	20 years	25 years
  PPT	10 years	7, 10, 15 years	7, 10, 20 years	7, 10, 15, 25 years

• Sum Assured: Minimum Rs.1 lakh and maximum sum assured limit is subject to underwriting.
• Premium Payment Mode: Yearly, half-yearly, quarterly, and monthly.

Shriram New Shri Vivah Plan:

This plan offers double Life Cover, Family Income Benefit, and Sum Assured at Maturity along with bonuses.

Benefits and Features of New Shri Vivah Plan:

• Death Benefit payable to nominee equals Sum Assured on Death, accumulated reversionary bonuses plus terminal bonus, if any. Death Benefit will be minimum 105% of all premiums paid till the date of death, excluding rider premiums, extra premiums, and taxes.
• Sum Assured on Death is higher of Basic Sum Assured plus additional death benefit or 10 times the annual premium if the age is below 45 years and 7 times the annual premium if the age is 45 years and above. Additional death benefit can be received as a lump sum amount or 25% of Basic Sum Assured paid at the end of every 4th policy year and Family Income Benefit (monthly income benefit of 1% of Basic Sum Assured will be paid till the end of policy term, subject to a minimum of 36 monthly payments).
• You can opt for Accident Benefit Rider, Extra Insurance Cover, and Critical Illness Cover to get enhanced protection.
• Maturity Benefit equals Basic Sum Assured plus accumulated reversionary bonuses plus terminal bonus, provided all premiums are paid.
• Policy Term: 10, 15, 20 years.
• Premium Payment Term:

  Policy Term	10 years	15 years	20 years
  PPT	10 years	7, 10, 15 years	7, 10, 20 years

• Sum Assured: Minimum Rs.1 lakh and maximum sum assured limit is subject to underwriting.
• Premium Payment Mode: Yearly, half-yearly, quarterly, and monthly.

List of all Plans Provided by Shriram Life Insurance under Endowment Plans:

Why one needs Shriram Life Insurance Endowment Plans?

Following are the benefits of investing in an endowment plan:

• These are low-risk plans with guaranteed returns at the end of policy term.
• Offers financial security to you and your family in the form of life cover, death benefit, and maturity benefit.
• Get tax benefits on maturity proceeds under Section 10(10D) of the Income Tax Act, 1961.
• The investment returns are not based on market performance. Therefore, you get slow and steady returns.
• From Accidental Death Benefit Rider to Critical Illness Benefit Rider, you can choose from a range of riders to get enhanced protection.