Shriram Life Child Plans

Shriram Life Child Plans

Shriram Life Insurance Company deals in various child plans. The child education plans with their complete details are listed below:

Shriram Life Golden Premier Saver Plan

The Shriram Life Golden Premier Saver Plan is a non-linked, participating individual savings life insurance plan that combines the benefits of life insurance and savings. This means it provides financial protection in case of the insured's death while also offering accumulated savings upon maturity.

Here are the features and benefits of the plan:

1. Affordability:

   • Low minimum premium starting at ₹10,296.

   • Limited premium payment term: Pay premiums for a shorter period but enjoy coverage for the entire policy term.

   • Flexible payment options: Choose annual, semi-annual, quarterly, or monthly installments.

2. Enhanced Coverage:

   • Increase your sum assured for extended protection up to 80 years of age.

   • Assured bonus of 4% in the first five years to boost your corpus.

   • Bonus additions further enhance your maturity benefit.

3. Maturity Benefits:

   • Choose a lump sum payout or a combination of lump sum and regular income.

   • Increase liquidity by receiving the sum assured in installments during the last five years (income option).

4. Other Benefits:

   • Assured benefit: Get a guaranteed payout upon death or policy maturity.

   • Multiple riders: Add optional riders for additional coverage like critical illness or accidental death.

   • Flexibility: Customize your policy term, premium payment term, and frequency.

   • Loan facility: Access a loan against your policy in times of need.

   • Regular income: Opt for income with the lump sum option to receive a steady stream of income after maturity.

5. Plan at Glance

   Age	0 to 60 Years
   Policy Term	10 years, 13 years or 15 years to 25 years
   Premium Paying Term	From 5 to 20 Years
   Premium Mode	Yearly, Half-Yearly, Quarterly, Monthly
   Minimum Annual Premium	₹10,296

Investment

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₹10,000/Month

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Shriram Life Assured Income Plan

Shriram Life Assured Income Plan is a non-linked, non-participating life insurance plan that combines life insurance protection with guaranteed income benefits. 

Here are the key features and benefits of the plan:

• Term Options: Choose a policy term of 8, 10, 12, or 15 years.

• Payment Modes: Pay premiums monthly, quarterly, half-yearly, or annually.

• Guaranteed Income: Upon maturity, receive a lump sum amount or opt for regular income payouts.

• Death Benefit: If the life assured dies during the policy term, the nominee receives the sum assured.

• Higher Benefits for Higher Premiums: Choose higher terms and premiums to enjoy an increased guaranteed income.

• Riders: Enhance your coverage with optional riders like accident benefits, critical illness cover, family income benefits, and additional sum assured.

• Accident Benefits: Receive the rider sum assured and be exempt from future premiums if you suffer a permanent disability due to an accident.

• Family Income Benefit: In case of death or permanent disability due to an accident, your family receives a monthly income for 10 years.

• Critical Illness Cover: Receive 100% of the rider sum assured if diagnosed with a critical illness, helping you manage medical expenses.

• Paid-up Option: If you discontinue premiums after paying for at least two years, the policy continues with a reduced sum assured.

• Tax Benefits: Enjoy tax exemptions on premiums paid and maturity benefits as per prevailing tax laws.

Plan at Glance

Shriram Life New Shri Vidya

Shriram Life New Shri Vidya Plan is a non-linked, participating child savings plan designed to financially secure your child's future while providing life cover for you. It combines savings, guaranteed payouts, and additional benefits to help meet your child's educational and other crucial needs.

Key features and benefits of the plan:

• Affordable Premiums: Start saving for your child's future with premiums starting from just ₹8,000 per year.

• High Sum Assured Rebate: Enjoy lower premiums when you choose higher sum assured levels for enhanced financial protection.

• Additional Protection: Opt for optional riders like Accident Benefit, Extra Cover, and Critical Illness Plus Rider to expand the coverage scope.

• Reversionary Bonuses: Grow your corpus with bonus additions declared by the insurer, boosting the overall payout.

• Flexible Payment Terms: Choose regular or limited premium payment terms to suit your financial planning.

• Convenient Instalment Options: Pay your premiums annually, half-yearly, quarterly, or even monthly for added flexibility.

• Maturity Benefit: Receive a lump sum amount at the end of the policy term, along with any accumulated bonuses.

• Premium Rebates: Get rewarded for choosing a higher sum assured with reduced premium payments.

• Survival Benefits: If your child survives the policy term, receive guaranteed payouts in the last four years (25% of the sum assured each year).

• Death Benefit: In case of your unfortunate demise, your child receives a guaranteed sum to compensate for financial loss.

• Additional Death Benefit: Get an extra lump sum benefit upon your death to address your child's immediate financial needs.

• Flexible Death Benefit Payouts: Choose to receive the additional death benefit in a lump sum or instalments, based on your family's requirements.

• Policy Loan: Access up to 80% of the surrender value as a loan if needed during emergencies.

Plan at Glance

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Shriram Life Early Cash Plan

The Shriram Life Early Cash Plan is a non-linked, participating, individual savings life insurance plan that offers a combination of life cover and savings benefits. It provides financial protection to your loved ones in case of your death while also helping you accumulate wealth through bonuses and maturity payouts.

Here are the key features and benefits of the plan:

• Flexible tenures: Choose a policy term of 10, 12, or 15 years to suit your needs.

• Assured annual bonus: Earn bonuses on top of your premiums, creating a source of passive income.

• Terminal income: Receive a potential additional bonus at the end of the policy term.

• Cover for minors: Insure children as young as 3 years old.

• Flexible premium payments: Choose from various payment options for convenience.

• Comprehensive cover: Get basic life cover, with the option to add riders for enhanced protection.

• Death benefit: Your loved ones receive the sum assured, accumulated bonuses, and terminal bonuses (if declared) in case of your death.

• Maturity benefit: Upon surviving the policy term, you receive the sum assured, accumulated bonuses, and terminal bonuses (if declared).

• Early cash option: Get guaranteed cash bonuses as annual income starting from the second year.

• Tax benefits: Enjoy tax exemptions on premiums paid and maturity proceeds under applicable sections of the Income Tax Act.

Plan at Glance

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Applying for a Child Plan from the company:

1. Online

   The company offers specific plans that are only available online. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through a credit card, debit card or net banking facilities, and the policy will be issued.

2. Intermediaries

   Plans that are not available online can be purchased from agents, brokers, banks, etc., where the intermediaries help with the application process.

How to Buy Child Plans Through Policybazaar?

To buy a child plan from PolicyBazaar, follow these steps:

• Visit the PolicyBazaar homepage and navigate to the "Personal" tab.

• Click on "Child Plans" from the dropdown menu.

• Fill out the lead form by providing your name and mobile number.

• After filling out the lead form, click on the "View Plans" button.

• Provide details such as your city, income, your age, and your child's age on the next page then click "Continue."

• You will be directed to the quotes page, where you will find quotes from more than 10 insurers.

• Next, choose the plan type based on the payment schedule – whether it's a one-time payout or a Monthly Payout Plan.

• Select the plan that best suits your needs and click on "Get details".

Following these steps will guide you through the process of purchasing a child plan from Policybazaar.