Shriram Life Launches Golden Jubilee Plan; Check Features

Spread the love

Check Key Features of Shriram Life's Golden Jubilee Plan.

Check Key Features of Shriram Life’s Golden Jubilee Plan.

Policyholders can opt to cover their whole life or a specified period of time, enabling them to fulfil their financial aspirations with full flexibility

Shriram Life Insurance has launched a new unit-linked policy to mark Shriram Group’s golden jubilee year. In this, policyholders can opt to cover their whole life or a specified period of time, enabling them to fulfil their financial aspirations with full flexibility. The plan has two options — Life Goal and Legacy. It offers customers options to alter policy term, premium payment term, sum assured and even premium.

“Under the Life Goal option, policyholders can work towards specific financial objectives and important milestones such as education expenses, purchasing a dream home, or starting a business. With the Life Goal option, policyholders have access to various features and flexibility to help them reach their financial goals,” Shriram Life Insurance said in a statement.

The Legacy option allows policyholders to support their golden years financially or create a lasting impact on their family’s financial future by leaving behind substantial wealth after their lifetime.

Casparus Kromhout, MD & CEO of Shriram Life Insurance, said, “We are delighted to announce this plan on our Group’s momentous milestone. The plan gives various flexibilities and options to choose from, provides financial protection and encourages long-term participation in the market. This is a part of our holistic financial solutions which are offered in a customised fashion through our superior technological processes.”

Key Features of the Golden Jubilee Plan:

Financial control with multiple fund options: Policyholders have the freedom to choose from multiple fund options to suit their investment preferences and risk appetite.

Unlimited free switches and premium redirection: Policyholders can make unlimited free switches between funds and redirect their premiums as per their investment strategy.

Auto Transfer option (ATO) to tackle market volatility: This option allows policyholders to invest their premiums in a low-risk fund (Preserver Fund) initially and gradually transfer the funds to their chosen investment portfolio, reducing the risk of investing in a volatile market.

Wealth Boosters guaranteed every 5 years: The plan provides wealth boosters in the form of additional units credited to the policyholder’s base premium fund value every five years, starting from the 10th policy year.

Return of Premium Allocation & Mortality charges: Premium allocation charges and Mortality charges are returned to the policyholder after a specific period providing the life coverage to the policyholder at zero cost.

Whole Life Option (Legacy): This option allows policyholders to save for their next generation or withdraw funds whenever needed, providing flexibility and financial security.

Features That Further Enhance Policyholder’s Experience:

Customised life cover: Policyholders can choose from two cover options and select the desired level of coverage within each option.

Unmatched flexibility: The plan offers unmatched flexibility, allowing policyholders to increase or decrease the policy term, premium payment term, sum assured, and premium amount as per their changing needs.

Top-up premiums: Policyholders can top-up their scheduled premiums with additional funds whenever they have surplus money.

Liquidity and easy access to funds: The plan allows partial withdrawals, providing liquidity and easy access to funds during times of financial need.

Settlement Option: Policyholders have the option to choose a settlement period with maturity or death benefits to tackle market volatility during redemption.

Additional protection with multiple riders: The plan offers additional protection through multiple riders, allowing policyholders to enhance their coverage as per their specific requirements.

Tax Benefits: The plan provides tax benefits on investments and returns, as per the prevailing tax laws.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.