akshaynidhi

8/8/2019 AkshayNidhi

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Financialnecessitiescropupateverystageoflifeforinstancechildseducation,marriageetc.Tosupport

youfinanciallyatsuchjunctures,ShriramLifeoffersyouamoneybackpolicywhichhelpsinrealizingyour

dreamsbyprovidingperiodicpaymentsalongwithadequateinsurancecoverage.

SHRIRAMAKSHAYNIDHIisaregularpremiummoneybackpolicywithparticipationinprofits.Premiumsare payable at regular intervals during the term of the policy. This plan comes with full insurance

protectionthroughoutthetermofthepolicy,irrespectiveofsurvivalbenefitspaid.

KEYFEATURES: Flexiblepremiumpaymentin3differentmodesyearly,halfyearlyandquarterly. Periodicsurvivalbenefits. Optiontochooseatermthatsuitsyourneeds. Deathbenefitsarefullsumassuredatanypointoftimeduringthetermofthepolicy. Participationintheprofitsofthecompanybyreceivingbonus.

Option

to

choose

accident

benefit

rider

along

with

base

plan.

BENEFITSUNDERTHEPLAN:Event Benefitpayable

Onsurvivalof lifeassuredup to theendofevery

5th year from the date of commencement of the

policybutbeforetheendoftheterm.

Periodic lump sum payments known as survival

benefitswill be paid to the policyholder. In case

LifeAssured isminor,thesurvivalbenefitswillbe

paidtotheproposer.

SHRIRAMAKSHAYNIDHI UIN:128N023V01


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On survival of life assured up to the end of the

term.

Sumassuredlessthanthetotalamountofsurvival

benefitsalreadypaid togetherwithvestedbonus

willbepaidtothepolicyholder.

On death of life assured during the term of the

policy.

SumAssuredalongwiththebonusvested (ifany)

on the policy will be paid to the nominee

irrespectiveof

survival

benefits

paid.

In

case

of

policies issued to minor lives, the death benefit

shallbepaidtotheProposer iftheL.A isminorat

the timeofdeathor to thenominee if thepolicy

hasalreadybeenvestedtotheL.Abythetimeof

death.

SURVIVALBENEFITS:For every Rs.1, 000/ Sum Assured, life assuredwill be entitled to the following periodic payments

dependingupon

the

term

chosen:

Attheendof Term15 20

5thyear 250 200

10thyear 250 200

15thyear 500 200

20thyear 400

ENTRYCRITERIA:Condition Limit

Minimumageatentry 7yearslastbirthday

Maximumageatentry 60yearslastbirthday

Maximumageatmaturity 75years

Minimumsumassured Rs.1,00,000/

Policyterm 15yearsto20years(fixed)

OPTIONSANDCONDITIONSUNDERTHEPLAN: AgeProof: Astandardageproofwillhavetobesubmittedalongwiththeproposalform. Premium PaymentModes: Policy holder has anoption to pay thepremiums in 3 different

modesyearly,halfyearlyandquarterly.Incaseofminorlives,theProposerwillpaypremiums.

IftheProposerdies,thepremiumsshallbepaidfromtheestateoftheProposer.


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VestingRulesincasepoliciesissuedtominorlives: Onattainingmajority,thepolicyshallnotbevestedautomatically,butonrequestoftheProposer,itwillbeassignedtotheLifeAssured.

RebateUnderMode:Yearly

1.5%

of

tabular

premium

HalfYearly 0.75%oftabularpremium

RebateforHighSumAssured:SumAssured RebateRs.1,00,000to1,99,000 Nil

Rs.2,00,000toRs.2,99,000 Rs.2perthousand

Rs.3,00,000andabove Rs.3perthousand

GracePeriod: Agraceperiodofonemonth,butnotlessthan30dayswillbeavailableforthepaymentof premiums. In case the premiums is not paidwithin the grace period, the policy

lapses. Income taxBenefit: Asper thecurrent tax laws, thepremiumpayableunder thispolicyare

eligiblefordeductionsaspertheprovisionsoftheSec80CoftheIncomeTaxAct,1961subject

totheconditionsspecifiedtherein.Alsothebenefitsreceivablefromthepolicyareexemptfrom

theincome

tax

under

the

Sec

10(10D)

of

the

income

Tax

Act,

1961.

Tax lawsaresubjected tochange from timeto time. It is thereforeadvisedthat theproposer

mayconsulthistaxadvisedfordetails.

RevivalofthePolicy: ifthepremiumdueisnotpaidwithinthegraceperiod,thepolicylapses.However,Policyholderhasanoptiontorevivethepolicybypayingthearrearsofthepremium

togetherwith interestwithinaperiodoffiveyearsfromtheduedateoffirstunpaidpremium

subject to submission of evidence of good health and the continued insurability of the life

assuredtothesatisfactionofthecompany.Therateofinterestchargedbythecompanywillbe

determinedfromtimetotime. PaidUp: Ifthepaymentofpremiumisdiscontinuedafterpayingforaminimumofthreeyearsandthreeyearshaveelapsedfromthedateofcommencementofthepolicy,thensuchapolicy

willnotlapsebutwillbeprovidedtilltheendoftheterm.Furthersurvivalbenefitsarenotpaid.Paidupvalue=SumAssured*(AmountofpremiumspaidDividedbytotalamountofpremiumspayableduringthepolicyterm)APolicywhichbecomespaidupwillnotparticipateinfutureprofitsbutanyvestedbonusalong

withpaidupvaluewillbegivenondeathormaturitywhicheverisearlier.


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Surrender: Policyholdercansurrenderhispolicyprovided threeyearshaveelapsed from thedate of the commencement of the policy and three years premiums have been paid. On

surrender,policyholderwillreceivesurrendervalueandthepolicywillterminate.

TheGuaranteedsurrendervalueswillbeequalto30%ofthepremiumspaid,excludingthefirst

yearpremium,

extra

premiums

and

premiums

paid

for

the

riders

ifany

reduced

by

the

survivals

benefitspaidalready.

EXCLUSIONS: Suicide: IftheLifeAssuredcommitssuicideforanyreason,whethersaneorinsane,withinone

year from thedateof acceptanceof thepolicynobenefits shallbecomepayableunder this

policy.AlsoiftheLifeAssuredcommitssuicidewithinoneyearfromthedateofreinstatement

ofthepolicy,thedeathbenefittotheGuaranteedSurrenderValue,ifany,alongwiththevested

bonuswillbepaid.RidersSumAssured,ifany,willnotbepaidineithercase.

Loans:Noloanswillbegrantedunderthisplan. Occupational Exclusions: Hazardous occupations such as steeple chasing, sea diving,

mountaineering,huntingand racingofanykindwillnotbeaccepted.However, thereareno

restrictionsontravelandfutureoccupation.

Insurancecoverisnotextendedafterthepolicyterm.ADDITIONALBENEFITS:Theproposerhasgottheoptiontoselectthefollowingridertobeattachedtothepolicyatthetimeof

proposal.

1. ACCIDENTBENEFITRIDER(UIN:128B001V01)Pleaserefertotherelevantriderbrochureforfurtherinformation.

FREELOOKPERIOD:Ifyouarenotsatisfiedwiththe 'TermsandConditionsofthePolicy'thepolicycanbereturnedtothe

Companywithin15daysof receiptof thepolicy.However, thecompany reserves the right todeduct

necessarychargesfor InsuranceCover/AccidentBenefitRidercover forthedurationofthe free look

periodtogetherwiththecostofissuanceofthepolicy.

Section41ofInsuranceAct,1938 No person shall allow or offer to allow, either directly or indirectly, as an inducement to any

persontotakeoutorreneworcontinueaninsuranceinrespectofanykindofriskrelatingtolives

orpropertyinIndia,anyrebateofthewholeorpartofthecommissionpayableoranyrebateof

thepremiumshownonthepolicynoranyperson takingoutorrenewingorcontinuingapolicy

accept any rebate except such rebates as may be allowed in accordance with the published

prospectuses or tables of the insurer: provided that acceptance by an insurance agent of

commissioninconnectionwithapolicyofinsurancetakenoutbyhimselfonhisownlifeshallnot


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be deemed to be acceptance provided the insurance agent satisfies the prescribed conditions

establishingthatheisabonefide insuranceagentemployedbytheinsurer. Anypersonmakingdefault in complyingwith theprovisionsof this section shallbepunishable

withafinewhichmayextendtoRs.500/Section45oftheInsuranceAct,1938:

NopolicyoflifeinsuranceeffectedbeforethecommencementofthisActshall,aftertheexpiry

of two years from the date of commencement of this Act, and no policy of life insurance

effectedafterthecomingintoforceofthisActshall,aftertheexpiryoftwoyearsfromthedate

onwhich itwaseffected,becalled inquestionbyan insureron theground thatastatement

madeintheproposalforinsuranceorinanyreportofamedicalofficer,orreferee,orfriendof

the insured,or inanyotherdocument leadingto the issueofpolicy,was inaccurateor false,

unlesstheinsurershowsthatsuchstatementwasonamaterialmatterorsuppressedfactwhich

itwasmaterialtodiscloseandthat itwas fraudulentlymadebythepolicyholderandthatthe

policyholderknew

at

the

time

of

making

it

that

the

statement

was

false

or

that

it

suppressed

factswhichitwasmaterialtodisclose.

ABOUTTHECOMPANY:Apan Indiapresencewithover160branchesandwithover21,000 insuranceadvisors,ShriramLife isyour trustedpartner forprosperity.At Shriram Lifewe strive toprovideour customerswithelegant

solutionstailoredtoindividualneeds.

ADDRESS:

UIRNo:SLIC/BROC/AUG/2010/8

akshaynidhi

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