Shriram Fortune Builder Insurance Plan

Introduction/Overview
Shriram Fortune Builder Insurance Plan is a Single premium Unit Linked Plan suitable for those who want to invest in a lump sum. The plan provides wealth maximization and life insurance coverage

4.8^~ Rated
7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

ULIP Plans

Plan starting from ₹1,000/month
Save upto ₹46,800 in Tax under section 80C^{^}
Zero LTCG Tax^¶
In built life cover

Top performing plans with High Returns^**

Invest ₹10K/month & Get ₹1 Crore^# on Maturity

Your Name

+91

Mobile Number

Your personal information is secure with us

By clicking on "View Plans" you agree to our Privacy Policy and Terms of use

Get Updates on WhatsApp

We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

It is a linked Insurance plan with Single Premium payment option

There are 6 funds available for premium investment:

Preserver
Defender
Balancer
Maximus
Accelerator
Tyaseer

Benefits

The total Fund Value + Top-up Fund Value (if any) is payable on Maturity
Alternatively, the maturity benefit can be availed in instalments over 5 years post maturity under the Settlement Option
On death, higher of the Sum Assured or Fund Value + Top-up Fund Value (if any) is payable subject to 105% of all premiums paid
Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	0 years	65 years
Maturity Age (Last Birthday)	-	75 years
Policy Term (PT) in years	10, 15 or 20
Premium Paying Term (PPT) in years	Single
Yearly Premium	25,000	No limit
Sum Assured	125% of SA for ages<45 yrs. 110% of SA for ages>=45 yrs.	No limit

Select Company

Select Ulip Plan

Policy Details

Grace Period: 30 days grace period is allowed for payment of premium. If policyholder fails to make payment within the grace period, the policy lapses

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

The policy provides for top-up premiums whereby the Fund Value and the corresponding Sum Assured can be increased through investing additional premium
Partial Withdrawals are allowed from 6^th policy year subject to a minimum of Rs.10,000
2 free switches are allowed per policy year

Exclusions

The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.

Additional Features or Riders

The Auto Transfer Option if chosen, allocates the investment automatically from low risk fund to high risk fund gradually to reduce risk exposure
The option can be chosen on inception and can be cancelled anytime during the term

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ