|
|
|
|
|
|
|
Insurance Company
|
Shriram Life Insurance Company Ltd
|
|
Plan Name
|
Shriram Money Back Term Plan
|
|
Plan Nature
|
TRADITIONAL
|
|
Plan Category
|
Money Back
|
|
UIN No.
|
128N039V01
|
|
About Plan
|
Money Back Term Plan is a simple yet robust plan that provides your family with a strong finincial backup in the unfortunate event of your demise.
|
|
|
|
|
|
|
|
Minimum Entry Age
|
18 Years age last birthday
|
|
Maximum Entry Age
|
50 Years age last birthday
|
|
Minimum policy term
|
10 Years
|
|
maximum policy term
|
Subject to maximum exit age
|
|
Minimum Sum Assured
|
Rs.200000
|
|
Maximum Sum Assured
|
Rs.2000000
|
|
|
|
|
|
|
|
|
|
Benefits
|
|
|
| Particulars | Description |
|
Maturity Benefits
|
Upon Maturity, all basic premium paid in lieu of insurance will be provide back to the policyholder, if he is alive at the date of maturity.
|
|
Death Benefits
|
In case of the unfortunate death of the life assured, Sum Assured along with all basic premium paid till date will be provided to the nominee/beneficiary.
|
|
Survival Benefit
|
If the Policyholder wishes to convert to the whole life benefits offered under this plan, he will get a Survival Benefits in proportion to the premium he has paid till the date of conversion.
|
|
Surrender Benefit
|
Policyholder can surrender the policy any time after completion of three years and in case of regular premium policy at least three year's premium must have been paid.
|
|
|
|
Tax Benefits
|
|
|
| Section | Description |
|
SEC 80 C
|
Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
|
|
SEC 10 (10)D
|
Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
|
|
|
|
|
|
|
|
|
|
|
|
Shriram Money Back Term Plan Is a simple term plan with a Conversion Option to change to a Whole Life Assurance on the plan's 5th last policy anniversary.The Money Back benfits under Shriram Money Back Plan provides all basic premium paid by the policyholder to the company upon his death during the policy term.The Total cover for a single life is restricted to the max SA under the plan.
|
|
Accident Benefit Rider - For Regular Premium policies.Accident Benefit Rider - For Single Premium policies.Shriram Critical Illness Cover Rider.
|
|
Surrender value = 70% *(t/n)*p,where: 't' = No of years for which premium have paid till the date of surrender.'n' = Original Policy Term.'P' = Sum of all premiums paid till date/single premium.
|
|
The Premium rates are Guaranteed for the complete duration of the contract, and once the policy is in force, the premium will not change.
|
|
|
|
|
|
|
|
10-Jun-09
14:26
|
Increasing stake in Shriram Life Insurance : Sanlam
|
|
29-Jan-09
16:51
|
Insurers to inform consumer on bouncing of cheque
|
|
29-Oct-08
12:05
|
IRDA asks ULIP performance report
|
|
|
|
|
View another Plan
|
|
|
|
|
Insurance Company
|
|
|
|
|
Solution for
|
|
|
|
|
Type
|
|
|
|
|
Category
|
|
|
|
|
Plan
|
|
|
|
|
|
|