The Shriram Immediate Annuity Plan is a traditional, non-participating, single premium Annuity Plan without profits. This plan has been designed to provide you a stream of payments on a regular basis as long as you survive. In case of sudden death before policy term, the chosen nominee shall be entitled to receive the purchase price of the policy.
Eligibility – Who is the Shriram Immediate Annuity Plan For?
All individuals aged between 40 years and up to 75 years (last birthday) are eligible to purchase this plan.
Sum Assured & Premium Range – What you get & what it costs?
Premium Range – The minimum purchase price of this plan is Rs.50,000, while there is no cap on the maximum limit.
Premium Payment Mode – The annuity payment under this plan can be done at the end of a quarter, half-year or after a year of purchase of the annuity.
Plan Coverage – What the Shriram Immediate Annuity Plan Covers?
As long as the life assured policyholder under this plan survives, they will be entitled to receive a stream of income at regular intervals. In the unfortunate event of the life assured’s death suddenly during the policy term, their nominee will be entitled to receive the purchase price of the policy.
Other Key Features – Free Look Period, Surrender Value, Grace Period, Etc.
|Paid –up Value
The Shriram Immediate Annuity Plan will not acquire any Paid-up Value.
||The Shriram Immediate Annuity Plan will not acquire any Surrender Value
|Free Look Period
||Shriram Life provides policyholders with a Free Look Period of 15 days to return the policy, in case they are not happy with its terms and condition. The policyholder must send a request for cancellation in writing, along with stating the reason for cancellation. Following the receipt of the request for cancellation, the insurer will refund the amount paid towards the purchase price of the plan after deducting expenses like stamp duty, etc.
||Loans will not be provided under this policy.
Other Benefits – How you can save with Shriram Immediate Annuity Plan?
Easy Policy Renewal Online – Renewal of your Shriram Life Insurance plan is now easy. You can easily renew your Shriram Life insurance policy online by visiting the Shriram Life website and clicking on the ‘Renew Online’ tab.
Pay Policy Premiums Online – You can easily pay your policy premiums online via net banking or with the help of your debit or credit cards.
Efficient Customer Support – To provide their customers with the best experience, Shriram Life has set up a dedicated Client Care office which will not only provide support but also provide financial advice to customers, in addition to resolving their queries.
NRI Zone – The Shriram Life website has created a special corner for its NRI customers. In this section, NRI customers can find out about all plans that are available for them as well as plan eligibility guidelines for purchase of life insurance plans.
Grievance Redressal – Shriram Life has set up a Special Grievance Redressal Cell to ensure that all queries and concerns of customers are resolved on a priority basis. Customers can get in touch with the insurer via email, phone or by writing to them.
Download Centre – The Shriram Life website features a special Download Centre where customers can get hold of downloadable copies of different insurance related documents like different types of claim forms, proposal forms, servicing forms (fund switch, Alteration Request, Declaration of Good Health, Automatic Surrender Discharge, Policy Surrender Application, etc.)
Proposal Tracker – You can easily locate the progress and status of your insurance proposal from the Shriram Life website itself. All you have to do is provide your proposal number and you can see the status of your proposal.
Branch Locator – Locating a Shriram Life branch office is now easier with the help of the online Branch Locator that is provided on their website. Easily locate your nearby Shriram Life Insurance branch with this branch locator feature.
Why you should buy the Immediate Annuity Plan from Shriram Life?
Established in the year 2006, Shriram Life Insurance has risen over the years to become one of the most well-known and trusted life insurance provider in the country. Having delivered stellar performance over the course of the last few years, the insurer has done a great job of managing its capital efficiently while also maintaining a low cost of operations. With the objective of making life insurance available to the common man, Shriram Life Insurance offers a wide variety of affordable and competent life insurance plans such as pension plans, child plans, savings plans, term plans, women plans, endowment plans, protection plans and also online plans.
*Premiums Vary Based On Age, Location, Plan Term and Other Factors
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