Shriram Life Wealth Plus

Buy Shriram Life Wealth Plus to gain access to multiple funds and investment strategies to invest in. Flexible policy terms, additional protection through riders, unlimited fund switching, and premium redirection, all of this is free of cost. Opt for the regular or limited premium payment term. The key feature of this plan is that it assures a minimum sum assured which is seven times the annualized premium. 

*Terms and Conditions apply

Shriram Life Wealth Plus Details:

Benefits of the Shriram Life Wealth Plus

Online Shriram Life Wealth Plus has the following benefits:

1. Maturity Benefit:

   Upon surviving the policy term, the total fund value is paid out. The fund value is of two types – the base premium and the top-up premium. The former is built from base premiums and the latter from top-up premiums. The total fund value is the sum of the base and top-up premium fund values. The fund value is computed as the number of units in credit multiplied by the prevailing net asset value. 

2. Death Benefit:

   In the case of unfortunate death of the policyholder, sum assured plus top-up sum assured (if any), base, and premium fund value is paid to the nominee of the policyholder. The minimum death benefit is 105% of the total premiums paid towards the policy. The sum assured is chosen by the policyholder at the time of commencement of the policy. 

3. Policy Loan Benefit

   Regardless of the Shriram Life Wealth Plus status, a policy loan is not available. 

4. Surrender Benefit:

   Shriram Life Wealth Plus policy can be surrendered anytime and after the lock-in period, the proceeds of the discontinued policy are paid. No charges are levied except for fund management charges. The discontinued policy earns a minimum guaranteed interest rate of 4% pa.  

5. 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 Wealth Plus 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 Wealth Plus

The online Shriram Life Wealth Plus policy has regular premium or limited premiums.

The minimum premium annually is Rs. 12,000. Half-yearly is Rs. 7,500. Quarterly is Rs. 5,000. Monthly is Rs. 2,000. 

There is no maximum premium limit. *

Use the Shriram Life Wealth Plus calculator to compute the premium.

*Standard T&C Apply

Additional Riders for Shriram Life Wealth Plus

Additional riders can be taken apart from paying Shriram Life Wealth Plus premium.

The riders are Shriram Life Accidental Death and Disability Rider. Shriram Life Accidental Death and Disability Income Rider. Shriram Life Critical Illness Care Rider. 

Eligibility for Shriram Life Wealth Plus

The minimum age at entry for the Shriram Life Wealth Plus policy is 7 years and the maximum age for entry is 60 years. Max age at maturity is 70 years. 

What are the documents required to buy this policy?

To buy Shriram Life Wealth Plus, the following documents are required:

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

How to buy this plan online?

Shriram Life Wealth Plus can be purchased online. 

• Only fill in the required details in the form. 
• Use the premium Shriram Life Wealth Plus calculator to compute the premium amount every month. 
• Choose the type of plan. To make an informed purchase, fill the pre-purchase form. Allow an insurance advisor to contact. Get the required details. 
• Another way is to get access to the product brochure. Go through the details. Then buy online. Payment can be done online too. Premium payments can be set up to automatically be debited from the bank account. 

Exclusions of Shriram Life Wealth Plus

Shriram Life Wealth Plus 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 accumulated fund value is paid.

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