Shriram ULIP Plans

1. Shriram Ujjwal Life:

A simple Unit-linked Life Insurance plan that offers high multiple on life cover and ensures growth of investment through guaranteed loyalty additions.

Features & Benefits:

1. The entry age for this plan can be as low as 7 years or as high as 65 years
2. While at maturity, age of the policyholder can be a minimum of 17 years, while the maximum age of the policyholder can be 75 years as on the last birthday
3. The policy term for this plan is fixed at 10 years
4. This plan is a regular premium paying policy and the premium payment term is equal to the policy term
5. Premium payment frequency for this plan is annual
6. The minimum premium amount allowed under this plan is INR 30000
7. It is an automated fund-switching plan wherein the focus is to preserve the investment while allowing for maximum capital growth
8. The minimum sum assured can be either 10 times or 7 times the annualised premium subject to the age of the policyholder being below 45 years or above at the time of entry
9. The plan offers tax benefits, maturity benefits, death benefits and surrender benefits

2. Shriram Ujjwal Life (SP):

A single premium unit linked offered by Shriram Life Insurance. Aimed at providing for enhanced pension amounts through a single investment.

Features & Benefits:

The entry age for this plan can be as low as 7 years or as high as 65 years

1. At maturity, policyholder’s age can be a minimum of 17 years, while the maximum age of the policyholder can be 75 years as on the last birthday
2. The policy term for this plan is fixed at 10 years
3. This plan is a single premium paying policy and the premium payment is done in a lump sum
4. The minimum premium amount for this plan is INR 35000 and there is no maximum cap to the same
5. This plan is an auto-switching policy that keeps circulating the premium amount within various funds to allow for beneficial returns on investment
6. The minimum sum assured will be 125% of the single premium (for entry ages < 45 years) and 110% of the single premium (for entry ages >= 45 years)
7. The plan offers tax benefits, maturity benefits, death benefits and surrender benefits

3. Shriram Fortune Builder:

A unit linked life insurance plan offered by Shriram Life Insurance aimed at wealth generation through a one-time investment.

Features & Benefits:

1. The entry age for this plan can be as low as 0 years or as high as 65 years
2. At maturity, policyholder’s age for this plan can be a minimum of 10 years, while the maximum age of the policyholder can be 75 years as on the last birthday
3. The policy term for this plan can be either 10 years, 15 years or 20 years
4. This plan is a single premium paying policy and the premium payment terms will be a yearly, one-time lump sum amount
5. The minimum premium amount will be INR 25000
6. The portfolio of this policy allows investment to be utilised in both equity funds as well as more stable instruments
7. For people with entry ages < 45 years, the sum assured is 1.25 times the single premium and for those with ages 45 and above, the sum assured will be 1.10 times the single premium
8. Partial withdrawal might be permitted after 5 years of continuation
9. The plan offers tax benefits, maturity benefits, death benefits and surrender benefits

4. Shriram Wealth Plus:

A limited premium paying unit linked life insurance plan offered by Shriram Life Insurance aimed at prudential wealth management through low-cost premiums.

Features & Benefits:

1. The entry age for this plan can be as low as 7 years or as high as 65 years
2. At maturity, the policyholder’s minimum age for this plan can be 17 years, while the maximum age of the policyholder can be 75 years as on the last birthday
3. The policy term for this plan can be either 10 years, 15 years or 20 years
4. This plan has an option of limited premium payment and the premium can be a minimum of INR 12000 with no maximum cap
5. Premium payment frequency can be annual, bi-annual, quarterly or monthly
6. There are six different funds which can be invested in, and the ratio of premium division can be changed as per the risk appetite of the customer
7. Partial withdrawal is permitted after 5 years of continuation
8. The plan offers tax benefits, maturity benefits, death benefits and surrender benefits

GST of 18% is applicable on life insurance effective from the 1st of July, 2017