Shriram Life Wealth Plus

Benefits of Shriram Life Wealth Plus

Listed below are the various benefits offered by the plan.

1. Death benefit- In case of unfortunate death of the insured, the nominee gets paid a lump sum amount which includes the sum assured and fund value.
2. Maturity benefit- If the insured survives till the end of policy term, they will avail fund value as maturity benefit.
3. Income tax benefit- The insured can avail tax benefits under section 80C and 10D of the Income Tax Act.
4. Riders- The plan offers an additional rider called Accident Shield Rider.
5. Fund options-The plan offers 6 kinds of funds to choose from:
   1. Preserver fund
   2. Defender fund
   3. Balancer fund
   4. Maximus fund
   5. Accelerator fund
   6. Tyaseer fund
6. Top up- Top up premiums can be paid except for the last five years of the policy term
7. Partial withdrawal- Partial withdrawal is allowed after completing 5 years of the policy
8. Switching -Switching is allowed anytime except for the settlement period

Eligibility criteria:

1. Age:Minimum- 7 years
   Maximum- 65 years
2. Age at maturity:75 years
3. Policy term:10, 15 or 20 years
4. Premium payment term: Equal to the policy term
5. Payment modes:Yearly, Half-Yearly, Quarterly and Monthly