• Shriram Life Secure Plus Plan

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    The Secure Plus Plan from Shriram Life Insurance is specially designed to make you and your loved one’s meet the uncertainties of life, and it provides financial security and protection. This is a non linked, non participating life insurance plan.

    Eligibility for Shriram Secure Plus Plan

    • At the time of entry, any individual of 18 years, and up to the age of 50 years, is eligible to take up this policy.
    • The policy has a maximum maturity age of 70 years.

    Features of Shriram Secure Plus Plan

    The main features of this plan are:

    1. The plan offers life insurance cover to protect you and your family against life’s uncertainties. The plan is available at very affordable rates of premium.
    2. This policy provides you with returns of premiums at the time of maturity. On survival, the policyholder will receive the maturity value which will be a total of all basic premiums paid. It will not include any additional premiums.
    3. The policy offers the option to make premium payments throughout the duration of the policy.
    4. Premiums are payable on either yearly, half-yearly, quarterly or monthly basis .
    5. The policy can be taken for a period of 10, 15, or 20 years.
    6. The policy offers a minimum sum assured of Rs. 5 lakhs and a maximum of Rs. 20 lakhs.

    Benefits of the Shriram Secure Plus Plan

    1. Death Benefit - In the unfortunate event of the death of the policyholder, the nominee will receive the highest of 10 times of the annual premium, if the policyholder is 45 years or below. If the policyholder is above the age 45 years, the nominee will receive 7 times of the annual premiums paid or will receive the basic sum assured or, maturity sum assured or, 105% of all premiums paid till the date death
    2. You have the option to add riders to your policy and enhance your protection cover. These riders are:
      1. Accident Benefit Rider - If the death or permanent disability of the policyholder is caused due to an accident, then the rider sum will be paid to either the policyholder or the nominee.
      2. Family Income Benefit Rider - If due to an accident, the policyholder is permanently disabled during the rider term, then the 1% of the rider sum will be paid to him as a monthly income for a period of 10 years or the term of the rider.
      3. Critical Illness Cover Rider - This rider will cover the costs of medical and rehabilitation expenditures. It covers 6 major critical illnesses.
    3. Maturity Benefit - If the policyholder survives the policy tenure, then the maturity sum will be paid to him/her. The value will be equal to all the basic premiums paid and will exclude any additional premiums.
    4. Rebates of sum assured - The policy offers rebates on high sum assured amounts:
      Range of sum assured Rebate given per Rs. 1000 of sum assured
      Rs. 5,00,001 - Rs. 10,00,000 0
      Rs. 10,00,001 - Rs. 15,00,000 Rs. 0.50
      Rs. 15,00,001 - Rs. 20,00,000 Rs. 1.00
    5. Tax Benefits - As per the policy, there will be tax benefits available for the policyholder. The premiums paid can be deductible under section 80C and claims can be deductible under e section 10(10D) of the Income Tax Act 1961.
    6. Grace Period - For all premium payment modes, the grace period allowed for the policy is 30 days. Within this period, the policyholder will be required to pay the pending premiums.
    7. Free - Look Period - A 15 days period will be provided to the policyholder as a free-look period. If the policy is purchased through distance marketing, then the free-look period is 30 days. If the policyholder doesn’t agree to any of the terms and conditions of the policy, he/she can cancel the policy within this period.
    8. Paid Up policy - If the policy is fully paid and the policyholder dies during the policy term, then the reduced paid up death sum assured will be payable to the nominee. This is calculated as (reduced paid up death sum assured/ total number of premiums payable) x death sum assured. If the policyholder survives the policy term, maturity paid up death sum assured will be payable to the policyholder. It will calculated as (reduced paid up maturity sum assured/ total number of premiums payable) x maturity sum assured.
    9. Surrender benefit - After 3 years of completion of the policy term, the surrender benefit will be payable.
    10. Revival Benefit - If the policy lapses due to non-payment of premium or paid up, then it can be revived within 2 years from the date of last premium unpaid.

    Example

    Mr. Sayeed is a 30 year old male, takes up the Secure Plus Plan from Shriram Insurance. He chooses a policy of 10 years and sum assured of Rs. 5,00,000. He makes the premium payment of Rs. 5,000 yearly. After making 5 premium payments, Mr. Sayeed dies in an unfortunate event. His nominee will receive the highest amount of either 10 times of the annual premium paid, or the basic sum assured or, 105% of all premiums paid. After paying these benefits, the policy will terminate.

    FAQs.

    1. What are the policy terms offered for this plan?

      The policy terms offered are 10 years, 15 years and 20 years.

    2. Are there any exclusions under this policy?

      Yes, if the policyholder commits suicide due to any reason, within 1 year on the policy commencement. Then, only 80% of the premium paid shall be payable to the nominee, as per this policy.

    3. Is there a survival benefit available?

      Yes, there is a survival benefit available with this plan. The policyholder will receive an amount that is equal to all the basic premiums paid by him or her at the end of the policy term.

    4. Does this plan have a loan facility?

      No, there is not loan facility available with this plan.

    5. What are the premiums rate for this policy?

      The minimum premium payable annually is Rs. 5,000, however, this amount will be dependent on you age, policy term and the sum assured amount.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

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

    Shriram Life Secure Plus Plan Reviews

  • Page 1 of 2 1 2
    • Shriram Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the SHRIRAM LIFE. I pay a premium of 20000 per year, I make payments online and sometimes as cheque. I never had any issues with their services and the features of the policy are equally good. Overall it is a recommendable policy to have.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2018
    • Shriram Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I bought the SHRI RAKSHA POLICY from the Shirarm life and I am using this policy for the past 6 years. This policy has the premium amount of Rs,10500. The customer support service and the response is good with the Shiriram life and their executives will come and collects the payments before the due date.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 02, 2018
    • Shriram Life Life Insurance
      "Better policy to use"
      0.5 4.0/5 "Great!"
      I hold the Shriarm life insurance policy for the past 6 years. This policy is called as tension plan policy and here it has very good policy benefits and the coverage. I pay the premium of Rs,10640 to this policy in every year once. This policy has the tenure of 10years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 02, 2018
    • Shriram Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      Using the life insurance policy from the Shriram life and I have got the Pension plan from Shriram. I am holding 2 pension plan policies from the Shriram. The coverage and the plan benefits are good with this policy. The tenure of 15years is available in the Shriram pension plan policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 02, 2018
    • Shriram Life Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the shriram life insurance policy and the coverage value is fine one for me. I have not done any claims with them till now. Everything is fine one with the Shriram life insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 13, 2017
    • Shriram Life Life Insurance
      "Best service"
      0.5 5.0/5 "Blown Away!"
      Shriram is the best compare to LIC. They are good in claim experience. Shriram is doing a best service for the customers. I have taken Shriraksha policy which has a tenure of 23 years. I pay premium of 7k yearly through cheque. They are providing double time sum assured.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • Shriram Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I haven't pay the premium with the life insurance for past 3 years. I have to go meet the Shriram life office to do the payment, Because of lack of time I couldn't pay the premium on time. I got the life insurance policy around 7 years ago, but I have paid the premium for 3 years of Rs,10,000 annually. The policy coverage and the plan benefits are good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 19, 2017
    • Shriram Life Life Insurance
      "Should increase the benefits"
      0.5 4.0/5 "Great!"
      Yearly I used to pay the amount of Rs. 20,000, with the period of ten years. After the period I would be getting only 1.95,000 + interest. I make payment by cheuqe, it the basic benefits of accidental coverage and tax coverage but I am not satisfied with this policy, My cousin is working there, he have refereed it.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 05, 2017
    • Shriram Life Life Insurance
      "Ontime delivery"
      0.5 3.5/5 "Pretty good"
      I have life insurance policy with the Shriram life insurance company and it been referred by my friend and the coverage value is around 35 lakh Rupees after 20 years of time. Premium is around 10948 Rupees per annum. Customer service is fine one with them and I used to dealt with them through their agent. Its a kind of hassle free policy.
      Was this review helpful? 0
      , salem
      Reviewed on Mar 18, 2017
    • Shriram Life Life Insurance
      "Life insurance"
      0.5 5.0/5 "Blown Away!"
      I have opted for the life insurance of SHIRRAM through online. The best part about their customer support is they are calling at the scheduled time and followup was done appropriately,. I am holding this policy since 2015 and they are basically customer satisfactory,
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 15, 2016
    • Shriram Life Life Insurance
      "Need to explore"
      0.5 4.0/5 "Great!"
      I have life insurance policy with Shriram life insurance company and am paying around 9000 Rupees per annum. The returns would be around 3.5 lakh Rupees and I dealt with them through my brother, who is an employee over there. I dint seen any drawback with them.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 06, 2016
    • Shriram Life Life Insurance
      "Very poor "
      0.5 3.0/5 "Satisfactory"
      The service provided was not with Shriram service.I am not having any satisfaction in the service.They have not intimated about the Insurance process with the customer.The plan benefits are less with shriram.The tenure period of the Insurance is around 10years
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 13, 2016
    • Shriram Life Life Insurance
      "Life time coverage."
      0.5 5.0/5 "Blown Away!"
      The service provided was good and I have not faced any drawbacks in the service.They provide 3times of the assured at time of maturity.I make the payments in yearly manner.The tenure period of the plan is for 12years with shriram Life coverage services.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 06, 2016
    • Shriram Life Life Insurance
      "Better"
      0.5 5.0/5 "Blown Away!"
      I have taken the life insurance policy with Shriram life insurance company and I been with them from the last eleven years of time. Customer service is good with them, also I am paying around 3360 Rupees for every quarter of the year. Policy coverage value is around 18 lakh Rupees.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Mar 28, 2016
    • Shriram Life Life Insurance
      "Satisfied"
      0.5 1.5/5 "Bad"
      I have got the life insurance policy with the Shriram insurance company, also it will provide the coverage for health too, also the premium is around 3500 Rupees per annum. I can say its a smooth process and I need to pay the premium for ten years of time. Policy coverage value is around 50 lakh Rupees.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Mar 28, 2016
    • Shriram Life Life Insurance
      "Not satisfied..."
      0.5 1.0/5 "Really Bad"
      Representative is not fine. I open the life insurance at one of the branches and first time the service was better. Later I have not got better response. When I went second time to renew the plan, no one was there to help me. Customer service is not appreciable. Policy benefits are very good at Shriram Life.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 29, 2016
    • Shriram Life Life Insurance
      "Service is not up to the mark "
      0.5 4.0/5 "Great!"
      Shiram is good in the life insurance plan but the customer service is very bad because the response is not up to the mark. I have taken a life plan for the tenure of 10 years after the maturity will get the lump sum amount. Accidental and natural death coverage is given. Payment options is flexible.
      Was this review helpful? 0
      , dindigul
      Reviewed on Jan 05, 2016
    • Shriram Life Life Insurance
      "Super"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Shriram life insurance company and am paying the premium as 15000 Rupees per year of time. I need to pay it for ten years of time and its I will get the returns on specified term period.
      Was this review helpful? 1
      , salem
      Reviewed on Dec 31, 2015
    • Shriram Life Life Insurance
      "Best plan "
      0.5 3.5/5 "Pretty good"
      Shriram life is giving different plans and more offers comparing with lic. I have taken life insurance with the tenure of 15 yeas. Premium is use to be paid every year. In case any unfortunate take place to the insure the plan will be continued and double the maturity will be given to the family members.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 16, 2015
    • Shriram Life Life Insurance
      "Good Company "
      0.5 3.0/5 "Satisfactory"
      From shriam life insurance i have taken two life insurance policies for the tenure of 15 years. Policy coverage offered is double the sum assured in case of unfortunate take place . We have to pay the payment in the service center were as now they have improve the best by connecting with axis bank. My friend is the agent so he gives the best service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 30, 2015
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