Shriram Life launches Golden Jubilee Plan with Life Goal and Legacy options
Delhi. Shriram Life Insurance has launched a new unit linked policy on the occasion of the golden jubilee year of the Shriram Group. Policyholders can choose to cover their whole life or a fixed term, giving them the flexibility to fulfill their financial dreams. The plan has two options – Life Goal and Legacy, and gives customers the option to change the policy term, premium paying term, sum assured and even premium. Under the Life Goal option, the policyholder can choose between specific financial objectives and studies- Can meet important objectives like writing expenses, buying your dream home or starting a business. In the Life Goal option, policyholders have access to a host of features and flexibility that help them achieve their financial goals. The legacy option allows policyholders to meet expenses in their retirement years and make a profound impact on their family’s financial future by leaving behind a substantial asset upon death. The plan offers a choice of three premium paying terms: Single Pay, Limited Pay and Regular Pay. It also gives the customers the flexibility to choose between two death benefit options. Depending on the option chosen, the family of the deceased will receive either the Fund Value plus the Sum Assured, or whichever is higher. Policyholders can choose the type, level and quantum of cover based on their financial goals and protection requirements. In addition, the Golden Jubilee plan offers various rider options to enhance the coverage and provide comprehensive protection against unforeseen circumstances. Commenting on the product, Casparus Kromhout, MD & CEO, Shriram Life Insurance said, “We are proud to announce this important milestone for our Group. But I am happy to announce this scheme. This plan offers flexibility and choice
Provides multiple options for investment, provides financial security and encourages long term participation in the market. It is a part of our comprehensive financial solutions, which are offered in a customized fashion through our advanced technological processes. We are hopeful that this product will give our customers one more reason to plan decisively and take advantage of their accumulated wealth, so that they can enjoy the important stages of their life in the best possible way.”
Swarna Jayanti scheme aims to empower individuals to achieve their financial goals and create a secure future for their loved ones. With its flexible features, investment options and comprehensive coverage, this plan provides a holistic solution for individuals seeking life insurance and wealth creation opportunity.
The salient features of Swarna Jayanti Yojana include:
Financial control with multiple fund options:
Policyholders get the freedom to choose from multiple fund options as per their investment preferences and risk appetite.
Unlimited Free Switch and Premium Redirection: The policyholder can switch from one fund to another as many times as he/she wants
And redirect your premiums as per your investment strategy.
Auto Transfer Option (ATO) to deal with market volatility: This option
Allows policyholders to initially invest their premiums in a low-risk fund (preserver fund) and gradually move the funds to their chosen investment portfolio, thereby mitigating the risk of investing in a volatile market .
Guaranteed Wealth Booster every 5 years: This plan will be available every 5 years after the 10th year from the inception of the policy.
Provides Wealth Booster by crediting additional units to the Policyholder’s Base Premium Fund Value during the year.
Return of premium allocation and mortality charges: Premium allocation charges and mortality charges are returned to the policyholder after a specified period of time.
In this way they get life coverage without any cost. Whole Life Option (Legacy): This option allows policyholders to save or withdraw money for their next generation as and when required, while providing flexibility and financial security.
Additional features of the Golden Jubilee Plan, which further enhance the policyholder experience:
Customized Cover: Policyholders can choose from two cover options and choose the level of coverage of their choice within each option.
Unmatched Flexibility: The plan offers immense flexibility, allowing policyholders to increase or decrease the policy term, premium paying term, sum assured and premium amount as per their changing needs.
Top-up premium: The policyholder can top-up the fixed premium when he has surplus funds. Easy access to liquidity and funds: The plan allows partial withdrawals, providing liquidity and funds in times of financial need Provides easy access to. Settlement Option: Policyholders have the option of choosing a settlement period with maturity or death benefits to tide over market volatility during redemption.
Additional protection with multiple riders: This plan provides additional protection through multiple riders, allowing policyholders to enhance their coverage as per their specific requirements.
Tax Benefits: The scheme offers tax benefits on investments and returns as per the tax laws in force at that time.
