Shriram Life Insurance

Shriram Life Insurance:
Top product of Shriram Life Insurance is:

Shri Life
Wealth Plus
Money Back
ShriramUjjwal Life SP

SHRI LIFE:

SHRI LIFE is a participating life insurance plan that combines security and savings. The premium is
payable at regular intervals during the term of the policy. Life cover will be available throughout the
policy term.

Benefits:

Event Maturity/ death benefits payable
On death during the policy term Sum assured along with vested bonuses will be
paid and the policy comes to an end
On survival up to the end of policy term Sum assured along with vested bonuses will be
paid
Bonus Simple reversionary bonus will accrue during the
policy term

Eligibility:

Condition Limit
Minimum age at entry 12 years
Maximum age at entry 65 years
Maximum age at maturity 75 years
Minimum policy term 7 years
Maximum policy term 25 years
Minimum sum assured Rs. 50,000
Note: policy can be taken for a sum assured based on a fixed premium subject to a minimum sum
assured of Rs.50, 000/‐ for appropriate age and term.

Age:

Age is determined by the last birthday i.e., the completed number of years. A standard age proof will
have to be submitted along with the proposal.

Payment of the Premium:

Premiums can be paid yearly, half‐yearly or quarterly. Rebates for different modes of payment of
premiums are as under:

Yearly 1.5% of the tabular premium as rebate.
Half‐Yearly 0.75% of the tabular premium as rebate.

Sum Assured Rebates:

Sum Assured Rebate
Below Rs. 1,00,000/‐ Nil
Rs. 1,00,000 to Rs. 1,99,000 Rs. 1 per thousand
Rs. 2,00,000 to 2,99,000 Rs. 2 per thousand
Rs. 3,00,000 and above Rs. 3 per thousand

Grace Period:

A grace period of one month but not less than 30 days will be available for the payment of yearly,
half yearly and quarterly premiums.

REVIVAL:

If a premium due is not paid before the end of the grace period, the policy lapses. The policyholder
can revive his policy by paying the arrears of premium together with interest within a period of five
years from the date of first unpaid premium subject to submission of evidence of good health and
the continued insurability of the life assured to the satisfaction of the company. The rate of interest
charged by the company will be determined from time to time.

PAID UP VALUE:

If the payment of premium is discontinued after a minimum of three years, premiums are paid and
three years have elapsed from the date of commencement of policy, the policy will not fully lapse
but will acquire a paid up value and the life insurance protection will continue to the extent of the
paid up value until the end of the policy term. The paid‐up value will be equal to the sum assured
multiplied by the amount of premiums paid, divided by the total amount of premium payable during
the policy term. A policy that becomes paid up will not participate in future profits, but any bonuses
already vested will be added in full to the paid up value determined as above. The paid up value
together with the bonuses already vested shall be paid at the end of the policy term or death of the
life assured whichever is earlier.

EXCLUSION:

If the life assured commits suicide for any reason, whether sane or insane within one year from the
date of acceptance of the policy, no benefits shall become payable under this policy. Hazardous
occupations such as steeple chasing, sea diving, mountaineering, hunting and racing of any kind are
excluded.

SURRENDER VALUE:

The guaranteed surrender value under the policy will be equal to 30% of the total amount of
premium paid excluding the premium for the first year, provided a minimum of three years'
premiums are paid and three years have elapsed from the date of commencement of the policy. The
policy will not have any surrender value after the policy term.

LOAN:

Loan will be available up to 90% of the surrender value of policy. The company will determine the
rate of interest to be charged on such loan amount from time to time.

INCOME TAX BENEFITS:

The premiums paid under this policy will be eligible for deduction as per sec. 80 C of the Income Tax
Act, 1961. Benefits received from the life insurance policy are exempt from Income Tax under Sec 10
(10 D) of the Income Tax Act, 1961 subject to conditions specified therein. Benefits received from
the life insurance policy are exempt from Income tax under Sec 10(10D) of the Income Tax Act, 1961.
Tax laws are subject to change from time to time. It is therefore advised that the proposer may
consult his tax advisor for details.

FREE LOOK PERIOD:

If you are not satisfied with the Terms and Conditions of the policy the policy can be returned to
theCompany within 15 days of receipt of the policy with reason for cancellation. However, the
company willdeduct necessary charges for insurance cover/Rider cover for the duration of the free
look periodtogether with the cost of issuance of the policy.

ADDITIONAL BENEFITS:

The proposer has got the option to select the following riders to be attached to the policy at thetime
ofproposal.

• Accidental Benefit Rider
• Family Income Benefit Rider

ShriramUjjwalLife(SP):

FEATURES

Single premium mode.Total transparency, so you know the amount of premium invested and
canhave a clear idea on investment return.Dual benefit of market linked return and
insuranceprotection.Liquidity in the form of Partial withdrawals and surrender benefits.Six funds to
choose.Rider option to provide additional protection.Flexibility to invest your surplus money in the
form ofTop‐up premium.

Eligibility:

Minimum entry age 7 years age last birthday
Maximum entry age 65 years age last birthday
Maximum maturity age 75 years age last birthday
Policy term 10 years fixed

Minimum Sum Assured
For age at entry below 45 years 125% of the single premium
For age at entry 45 & above 110% of the single premium
Maximum Sum Assured Subjected to underwriting considerations
Minimum Premium Rs.35000
Maximum Premium No limit
Premium Payment Mode Single

BENEFITS

Death Benefit: In case of death of the Life Assured before the end of the policy term, Sum
Assuredplus value of the units plus top sumassured (if any) along with top up fund value (if any) will
be paid.
Maturity Benefit: On survival of the Life Assured up to the end of the policy term, unit fund
valueplus top up fund value (if any) will be paid onmaturity.
Investment Portfolio: Policyholder has an option to choose any one or a combination of
thefollowing funds in a fixed percentage.

Equity Equity Debt, Money Market Aim of Fund
& Cash
Preserver 0% 100% Very Low risk with
steady returns
Defender 0%-35% 65%-100% Low risk with good
returns
Balancer 40%-60% 40%-60% Moderate risk with
potentially better
returns
Maximus 0%-70% 30%-100% High risk with higher
return
Accelerator 90%-100% 0%-10% Very high risk with
significantly higher
returns
Tyaseer 90%-100% 0%-10% Very high risk with
significantly higher
returns from
Investments in stocks
and shares other than
banks NBFCs,
breweries, distilleries,
alcohol based
chemicals, Cigarettes,
tobacco,
entertainment,
leather, sugar and
hatcheries.

“1” ‐ fund does not allow more than 20% in Money Market & Cash.
“2”‐ fund does not allow investment in Debt instruments.
Note: Equity refers to investment in listed equities.

Debt instruments refer to investment in fixed income securities such as Government Bonds, Rate
Corporate Bonds (AA and above) etc.,Money Market and Cash include investment in instrumentslike
Commercial paper, Certificate of Deposits, Short term Bank Deposits andMoney market instruments.

CHARGES

The charges applicable for this plan are given here under.
Premium Allocation Charge: 5% of the single premium.The Premium Allocation charge will be
charged at the beginning of the year from the premium. The following charges will be deductedby
cancellation of units on a monthly basis, at the prevailing unit price.
Policy Administration Charges: Rs.30 /‐ per month for the first 3 policy years and increased by 6%
p.a. from fourth year onwards,throughout the policy term till the policy becomes a claim by death of
the Life assured or by maturity or by surrender or bydiscontinuance of the policywhichever is earlier.
Fund Management Charges: An Investment management charge as detailed below will be charged
by adjustment of the Net AssetValues of the units of the fund on a daily basis.
Fund Fund Management charges
Preserver 1.25% p.a.
Defender 1.25% p.a.
Balancer 1.35% p.a.
Maximus 1.35% p.a.
Accelerator 1.35% p.a.
Tyaseer 1.35% p.a.

Service Tax : The Service Tax as per Regulations in force from time to time will be levied on amonthly
basis by cancellation of units ofthe policyholder at the prevailing unit price. Currentlyservice tax is
applicable for mortality charges, rider charges and fundmanagement charge.
Mortality Charges: The level mortality charges based on age at entry will be charged on SumAssured
at the beginning of each month.In case of Top Up, the level mortality charges for the age and
outstanding term as on date of top up payment will be charged on top upsum assured. These
charges will be collected by cancelling appropriate number of units from the unit account till
thepolicy becomes aclaim.

OPTIONS AVAILABLE UNDER THE PLAN

Alterations: Alterations are allowed under the policy. The policyholder can request for an alteration.
Alterations allowed are reductionof sum assured and addition of riders during the policy
term.Addition of riders is allowed when a minor life assured attains majorityduring the policy term.
An alteration fee of Rs 200 will be levied from fund by cancelling appropriate number of units in
thecredit. TheSum Assured can be reduced up to 125% of the single premium if the age at entry
isbelow 45 years and up to 110% of the singlepremium if the age at entry is 45 years and above.
Once the Sum Assured is reduced, no alteration is allowed to increase the SumAssured again. Also,
the contractual premium cannot be altered.
Switching: The Policyholder can switch units from one Fund to another Fund out of the
fundsmentioned above, during the policyterm. The application for switch should come to the office
of the Company where the policy is being serviced. The policyholder canswitch units two times in a
year without any charge. However, for each additional switch, Rs.100/‐ will be levied. In case this
option isnot availed in a year it cannot be carried forward to next Policy year.
Top‐up premium: Top‐up premium is an additional premium over and above the contractual basic
premium at the commencement ofthe contract and the policyholder can pay Top up premiums at

any time except during the last 5 years of the policy term. However,such lump sum payment should
be at least Rs.5, 000/‐ per payment.A premium allocation charge of 2% of Top up premium will be
deducted from such lump sum and the balance will be allocated forunits. Such an additional
payment will be considered as a single premium and shall have an Insurance cover of 125% of top
uppremium subject to underwriting conditions. This insurance cover shall remain constant during
theperiod of the contract and shall bemaintained by cancelling the units to the extent of the
levelmortality charges, if any.
CONDITIONS AND CLAUSES
No cover is extended after the expiry of the policy term and only the settlement option is allowed.
Cooling off period: If the policyholder is not satisfied with the ‘Terms and conditions’ of the policy,
the policy can be returned to theCompany within 15 days from the date of receipt of the policy. If
you cancel the policy during this free look period, the company willrefund the fund value on the date
of cancellation plus the un allocated premium(if any) plus any charge deducted by cancellation
ofunits after deducting the proportionate risk charges and expenses incurred on medicals andstamp
duty for issue of the policy.
Tax Benefits of the plan: As per current tax regulations, premium paid under the plan are eligible for
deduction under the provisions ofSection 80C of the Income Tax Act, 1961 subject to the conditions
mentioned there in. As the tax laws are subject to change from timeto time, the policyholder is
advised to consult his/her tax advisor.No surrender value or paid up value will be available under the
Rider.Partial Withdrawals are not allowed to minor assured lives.The charges for Rider together with
service tax charge, at the appropriate rate will be collected on monthly basis by cancellation ofunits
at prevailing unit price.
Suicide clause: If the Life Assured commits suicide for any reason, while sane or insane, within one
year from the date of acceptance ofthe risk, no benefits shall be payable under this Policy, other
than the Life Assureds’ value of units as on date of death.
NAV Computation and unit price:
When Appropriation price is applied: NAV under each fund will be computed as under, (MarketValue
of investments held by the fund+ the expenses incurred in the purchase of the assets + the value of
any current assets+ any accrued income net of fund managementcharges ‐ the value of any current
liabilities ‐ provisions, if any).This gives the Net Asset Value of the fund. Dividing this by the
numberof units existing at the valuation date (before any new units are allocated) gives the unit
price of the fund under consideration. WhenExpropriation price is applied: NAV under each fund will
be computed as under, (Market Value of investments held by The fund ‐ theexpenses incurred in the
sales of the assets + the value of any current assets + any accrued income net of fund management
charges –the value of any current liabilities ‐ provisions, if any).This gives the Net Asset Value of the
fund. Dividing this by the number of unitsexisting at the valuation date (before any new units are
redeemed) gives the unit price of the fund under consideration. The unit Pricingshall be computed
based on whether the company is purchasing (appropriation price) or selling (expropriation price)
the assets in order to meet the day to day transactions of unit allocations and unit redemptions. The
appropriation price shall apply in a situation whenthe company is required to purchase the assets to
allocate units at the valuation date The Expropriation price shall apply in a situationwhen the
company is required to sell the assets to redeem units at the valuation date.
Partial withdrawals of units, to the credit, will be allowed only from 6th policy year.
Date of discontinuance of the policy: This date is the date of receipt of intimation by the company
from the Policyholder aboutdiscontinuance of the policy or the date of expiry of notice period
whichever is earlier.
Discontinued policy: A Discontinued policy is one under which the policyholder exercised the option
of discontinuance of premiums orthe notice period is expired whichever is earlier.
Discontinuance policy fund: The fund value of the policy that is set aside by the company on date of
discontinuance of the policy.
Cut‐off timings:

In respect of Top‐up/ fund switches request received up to 3 p.m. by the insurer, the closing NAV of
the day on which request isreceived shall be applicable. In respect of Top‐up/ fund switches request
received after 3 p.m. by the insurer, the closing NAV of thenext business day shall be applicable. In
respect of top up premiums received by the insurer along with outstation cheque or demanddraft at
the place where the premium is received, the closing NAV of the day on which Cheque /Demand
Draft is realized shall beapplicable. Cut off timings are subjected to changes by IRDA.
Exclusions under base policy: Hazardous occupations such as steeple chasing, sea
diving,mountaineering, hunting, and racing of anykind are excluded. If the life assured dies while
he/she is engaged in any of the said activities/occupation, the death benefit is limited toonly the
fund value. However, there are no restrictions on travel and future occupation.
Definition of charges:
1. Premium Allocation Charges: This is the percentage of the premium deducted towards charges
from the premiumreceived. The balance constitutes that part of the premium which is utilized to
purchase (investment) units for the policy.
2. Mortality charges: This is the cost of life insurance cover. This charge is specific and will be taken
every month till theclaim.
3. Fund Management charges: It is a charge levied as a percentage of fund value.
4. Administration charges: This is a fixed charge levied at the beginning of each policy month from
the policy fund bycancelling units for equivalent amount.
5. Switching charge: This is a charge levied on switching of monies from one fund to another.
6. Miscellaneous charge: This is a charge levied for an alteration within the contract, such as
reduction of sum assured, etc.
Disclosure:
• Unit Linked Life Insurance products are different from the Traditional Life Insurance products and
are subject to the risk factors.
• The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated
with capital markets and the
NAVs of the units may go up or down based on the performance of fund and factors influencing the
capital market and theinsured are responsible for his/her decisions.
• Shriram Life is only the name of the insurance company and ShriramUjjwal Life (SP) is only the
name of the unit linkedinsurance contract and does not in any way indicate the quality of the
contract, its future prospects or returns.
• Please know the associated risks and the applicable charges, from your insurance agent or the
Intermediary or policy documentof the insurer.
• The various funds offered under this contract are the names of the funds and do not in any way
indicate the quality of theseplans, their future prospects and returns.
• The past performance of the funds of the company is not necessarily an indication of the future
performance of any of thefunds.

Shriram Life Wealth Plus

Benefits:

Event Maturity/ Death Benefit Payable
On death of life assured during the policy term Sum assured plus Unit fund value plus Top-Up
Sum Assured(if any) and Top - up unit value(if
any) will be paid.
On survival of life assured up to the end of policy Unit fund value plus top up fund value(if any) will

term be paid.

Eligibility:

Condition Limit
Minimum age at entry 7 years age last birthday
Maximum age at entry 65 years age last birthday
Maximum age at Maturity 75 years age last birthday
Minimum Installment Premium Yearly = 12000
Half-Yearly = 7500
Quarterly = 5000
Monthly = 2000
Policy Term 10 years (or) 15 to 25 years
Short Premium payment term 5 years/10 years/15 years/20 years
Sum Assured - for age at entry below 45 years Higher of (10*Annualized
premium,0.5*annualized premium * policy term)
Sum Assured - for age at entry above 45 years Higher of
(7*Annualizedpremium,0.25*annualized
premium * policy term)

PAYMENT OF THE PREMIUM:

Premium can be paid yearly, half-yearly or quarterly. No rebates are allowed under the rider.

PREMIUM:

The rider is offered for an annual premium of 90ps per thousand sum assured, irrespective of age
and term.

GRACE PERIOD:

A grace period of one month but not less than 30 days, will be available for the payment of the
yearly, half-yearly and quarterly premiums.

SURRENDER VALUE & PAID UP VALUE:

No surrender value or paid up value will be available under the rider.

LOAN:

Not available under the rider.

SUICIDE:

No benefit would be payable under this rider, if the life assured commits suicide, whether sane or
insane during the term of the policy.

INCOME TAX BENEFITS:

The premiums paid under the policy will be eligible for deduction as per Sec 80C of the Income Tax
Act, 1961 subject to the conditions specified therein. Benefits received from the policy are exempt
from Income Tax under Sec 10(10D) of the income tax Act, 1961. Tax Laws are subjected to change
from time to time. It is therefore advised that the proposer may consult his tax advisor for details.

EXCLUSIONS UNDER RIDER:

The benefits under the riders are not payable, if total and permanent Disability or deathoccurs as a
result of:

Intentional self-injury, attempted suicide, insanity, immorality or while the lifeassured is
under the influence of alcohol, drugs or narcotics.
An Accident while the life assured is engaged in aviation or aeronautics other than as a fare
paying passengers.
Injuries caused by riots, civil commotion, rebellion, war (whether war is declared or not),
invasion, hunting, mountaineering, steeple chasing or racing of any kind.
The life Assured committing any breach of law.

FREE LOOK PERIOD:

If you are not satisfied with the Terms and Conditions of the Policy’, the policy can bereturned to the
company within 15 days of receipt of the policy. However, the company reserves the right to deduct
charges for the Accident and total & permanent disability benefit for the free look period.

Shriram Money Back

Benefits:

Event Maturity/ Death Benefit Payable
On death of life assured during the policy term Sum Assured along with all basic premiums paid
till date will be paid to the nominee/beneficiary
On survival of life assured up to the end of policy Basic premiums paid during the term will be paid
term

Eligibility:

Condition Limit
Minimum age at entry 18 years age last birthday
Maximum age at entry 50 years age last birthday
Maximum age at Maturity 65 years age last birthday
Minimum Policy Term 10 years
Maximum Policy Term 47 years,subject to maximum exit age
Minimum sum assured Rs. 2,00,000
Maximum sum assured Rs. 20,00,000

Shriram Life Insurance

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