Shriram Life Fortune Builder

This plan is ideal for those who travel extensively, who may not remember to pay their premiums within the due date so that if they have a lump sum amount, they can pay the premium in one shot. * Buy Shriram Life Fortune Builder for multiple policy term choices, 10, 15, 20 years. Unlimited fund switches are allowed free of cost. Additional protection is available through riders. 

*Terms and Conditions apply

Shriram Life Fortune Builder Details:

Benefits of the Shriram Life Fortune Builder

Online Shriram Life Fortune Builder has the following benefits:

1. Maturity Benefit:

   Upon surviving the policy term, the policyholder receives the total fund value. Base premium fund value and top-up premium fund value is fund value built from base premiums and top-up premiums. The total fund value is the sum of the base premium and top-up premium fund values. Total premiums paid also include any top-up premiums paid. The fund value is calculated as the number of units in credit multiplied by the applicable net asset value.  

2. Death Benefit:

   In case of unfortunate death of the policyholder during the policy term, the higher the sum assured (less partial withdrawals) or the base premium value is given. This amount is added with the higher top-up sum assured and top-up premium fund value. The minimum death benefit is 105% of the total premiums received. In case of the death of a minor, all premiums paid shall be refunded and the policy will be subsequently terminated.  

3. Surrender Benefit:

   If the policy is discontinued, the policy is treated as discontinued and transferred to the discontinued policy fund. After the lock-in period of 5 years, the discontinued policy fund is paid to the policyholder. If the policy is surrendered after 5 years of policy completion, that is, after the lock-in period, the unit fund value of the insured is paid without any penalty. 

4. Tax Benefits:

   Tax benefits can be availed on the paid premiums and as per existing tax laws benefits are received by the insured, as per Shriram Life Fortune Builder Income. Tax benefits for the Shriram Life Fortune Builder plan can be claimed under Section 10(10D) and Section 80C of the Income Tax Act, 1961.

   * Tax benefit is subject to changes in tax laws

The Premiums for Shriram Life Fortune Builder

The online Shriram Life Fortune Builder policy has a single premium. * Minimum premium is Rs. 25,000. There is no maximum premium limit, and it is subject to board-approved underwriting policy.

Use the Shriram Life Fortune Builder calculator to compute the premium.

*Standard T&C Apply

Additional Riders for Shriram Life Fortune Builder

Additional riders can be taken apart from paying Shriram Life Fortune Builder premium. The additional riders that can be bought are Shriram Accidental Death & Disability Rider, Shriram Accidental Death & Disability Income Rider, and Shriram Critical Illness Care Rider. The rider charges will be levied by canceling an appropriate number of units every month from the unit fund.

Eligibility for Shriram Life Fortune Builder

The minimum age at entry for the Shriram Life Fortune Builder policy is 0 days and the maximum age for entry is 65 years. Max age at maturity is 75 years. 

What are the documents required to buy this policy?

To buy Shriram Life Fortune Builder, the following documents are required:

• Identity proof -  Aadhar card, voter's card, or passport
• Address proof - Aadhar card, driving license, ration card, voter's card, or passport
• Income proof - Income tax returns or salary slips

How to buy this plan online?

The Shriram Life Fortune Builder can be purchased online. 

Step 1: Visit the official website of Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited). Fill in the required details in the form. 

Step 2: You will be redirected to a quotes page where you will have to choose the Shriram Life Fortune Builder Plan.

Step 3: Use the premium Shriram Life Fortune Builder calculator to compute the premium amount every month. 

Step 4: To make an informed purchase, fill the pre-purchase form. Allow an insurance advisor to contact. Get the required details. 

Step 5: Another way is to get access to the product brochure. Go through the details. Then buy online. Payment can be made online too. Premium payments can be set up to automatically be debited from the bank account. 

Exclusions of Shriram Life Fortune Builder

Shriram Life Fortune Builder reviews indicate that though it is a comprehensive plan, it does have exclusions, similar to other plans.  

If the life assured’s death is because of suicide within a year from the risk commencement date or policy revival date, the nominee receives 100% of the fund value. Any fund management charges, if recovered after the date of death will be remitted back into the fund corpus.

FAQ's