Shriram Life Assured Income Plan (UIN: 128N053V01)is a guaranteed income plan. It is a solution that takes into account all possible cash requirements and thus guarantees the desired quality of life for you and your family.

This is easy to use and affordable and pays the policyholder’s candidate a lump sum in the event of an unfortunate death. It’s a non-linked non-participating traditional policy that guarantees periodic payments for a specific period.


shriram life insurance assured income plan

Key features of Shriram Life Insurance Assured Income Plan

  • Shriram Life Assured Income Plan offers life cover for the full policy term
  • Get assured regular income after the policy term
  • Fixed policy term: 8 years or 10 years
  • Additional protection through riders
  • Longer the term higher the income
  • More the premium more the returns
  • Choice of multiple payment options
  • Tax benefits as per prevailing tax laws
  • The minimum annual premium is Rs.15,000/ and assured returns as high as 165% of the annualized Premium

Shriram Life Insurance Assured Income Plan Eligibility

Min. Entry age30 days
Max Entry age50 years
Max maturity age8 years term – 58 years
10 years term – 60 years
(as on last birthday)
Policy Term8 years / 10 years
Min Annual PremiumRs. 15,000 /- minimum
Max Annual Premium Rs. 5,00,000 /- maximum
Policy term 8 yrs Policy term 10 yrs
Basic sum assured8 x annualized premium 10 x annualized premium
Minimum sum assuredRs. 1,20,000Rs. 1,50,000
Maximum sum assuredRs.40,00,000Rs. 50,00,000


Read the Brochure of Shriram life assured income plan here


Benefits Of Shriram Life Assured Income Plan

(1) Death Benefit

In case of the death of the life assured during the policy term provided all the due premiums till the date of death has been paid, the death of sum insured will be paid.

The death benefit will be paid to the nominee or beneficiary in any of the following options exercised:

  1. Lump sum
  2. Regular payouts
  3. 50% death benefits at lump sum and remaining 50%as a regular payouts

i.e. the payouts will be 50% of the original payouts. The payout percentage applicable are the same as that for maturity. The payouts in case of death will be paid at the start of each year from the year following the death and the number of annual payouts payable will be equal to the policy term chosen.

where, sum assured payable on death (Death sum assured) is defined as higher of:


1.Policy term 8 years5 x annualized premium
Policy term 10 years10 x annualized premium for age < 45 years
7 x annualized premium for the age > 45 years & above
2. 105 % of all premium paid till the date of the death excluding any extra & rider premiums & taxes.
3.Death sum assured
4.Maturity sum assured

(2) Maturity Benefit

If the life insured person survived the entire period of insurance and all premium payments were made on the due date, the Maturity Benefit benefit will be paid at the beginning of each insurance year after the end of the insurance period. the policy during the service period. The other option available to the policyholder is to use the full amount of the benefit at maturity as a lump sum representing the insured amount. If the life assured dies while the insured income payment period has already begun, payment of the assured income balance to the nominee is paid.


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Additional Protection Through Riders

The Shriram Life Assured Income plan offers additional protection riders on payment of nominal additional rider premium:

  1. Accident Benefit Rider:
    Provides assistance to life assured, in the event of permanent/total disability due to an accident.
  2. Family Income Benefit Rider:
    Provides additional protection to the family for a nominal premium.
  3. Shriram Critical Illness Cover:
    Provides a benefit to help cover medical and rehabilitation costs associated with critical ailments.
  4. Shriram Extra Insurance Cover Rider:
    Provides additional life cover against the payment of extra premium.

The cover terminates at the end of policy term of the base policy.

Premium payout mode

You can pay your premiums in yearly, half yearly, quarterly & monthly modes. Where the premiums are paid in other than yearly mode of installment premium would be annualized premium multiplied by modal factors as given below:

ModeHalf yearlyQuarterlyMonthly
Factor0.510.260.09

List of savings Plans offered by Shreeram Life Insurance


Shriram Life Assured Advantage Plus

Minimum and maximum entry ageFor option 1: Minimum entry age – 8 years as on last birthday of the policyholder
Maximum entry age – 40 years as on last birthday of the policyholder
For option 2: Minimum entry age – 8 years as on last birthday of the policyholder
Maximum entry age – 60 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum) For option 1: Minimum basic sum assured – Rs.10 lakhMaximum basic sum assured – No limits
For option 2: Minimum basic sum assured – Rs.1.25 lakhMaximum basic sum assured – No limits
Premium paying term (PPT) single premium
Policy term a fixed term of 10 years

Shriram Life Genius Assured Benefits Plan

Minimum and maximum entry ageMinimum entry age – 18 years as on last birthday of the policyholder
Maximum entry age – 45 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum)Minimum basic sum assured – Rs.2 lakh
Maximum basic sum assured – No limits
Premium paying term (PPT)fixed premium paying term (PPT) of 10 years
Policy termyou can choose a policy term between 10 years and 18 years

Shriram Life POS Guaranteed Endowment Plan

Minimum and maximum entry ageMinimum entry age – 30 days as on last birthday of the policyholder
Maximum entry age – 55 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum) Minimum basic sum assured – Rs.1 lakh
Maximum basic sum assured – Rs.10 lakh
Premium paying term (PPT)Regular Premium Payment and Single Premium Payment
Policy termyou can choose a policy term between 10 years and 20 years

Shriram Life Secure Investment

Minimum and maximum entry ageMinimum entry age – 30 days as on last birthday of the policyholder
Maximum entry age – 60 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum) For a 5-year term, the minimum sum assured = Rs.49,600
For a 10-year term, the minimum sum assured = Rs.77,000
Maximum sum assured – The maximum sum assured will be subject to Board-approved underwritten policies
Premium paying term (PPT) single premium only
Policy term fixed terms of either 5 years or 10 years

Shriram Life Assured Income Plan

Minimum and maximum entry age Minimum entry age – 30 days as on last birthday of the policyholder
Maximum entry age – 50 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum) For an 8-year policy term: Basic sum assured – 8 times the annualized premium
Minimum sum assured – Rs.1.20 lakh
Maximum sum assured – Rs.40 lakh
For a 10-year policy term: Basic sum assured – 10 times the annualized premium
Minimum sum assured – Rs.1.50 lakh
Maximum sum assured – Rs.50 lakh
Premium paying term (PPT)8 years and 10 years
Policy termfixed terms of 8 years and 10 years

Shriram Life New Akshay Nidhi

Minimum and maximum entry age Minimum entry age – 30 days as on last birthday of the policyholder
Maximum entry age – 60 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum) Minimum sum assured – Rs.1.5 lakh
Maximum sum assured – 75 years as on last birthday of the policyholder (subject to underwritten policy)
Premium paying term (PPT)15, 20, and 25 years
Policy term fixed terms of 15 years, 20 years, and 25 years

Shriram Life Assured Income Plus

Minimum and maximum entry age Minimum entry age – 8 years as on last birthday of the policyholder
Maximum entry age – 60 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum) Minimum sum assured: For policyholders up to the age of 50 years – Rs.1.50 lakh
For policyholders who are 51 years old or more than that – Rs.3 lakh
Premium paying term (PPT)5 years
Policy terma fixed term of 10 years

Shriram Life New Shri Raksha

Minimum and maximum entry age Minimum entry age – 18 years as on last birthday of the policyholder
Maximum entry age – 55 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum)Minimum sum assured – Rs.1.5 lakh
Maximum sum assured – The maximum amount is subject to Board-approved underwritten policies
Premium paying term (PPT) For a 10-year policy term, premium paying term (PPT) is 10 years
For a 15-year policy term, premium paying terms (PPT) is 10 years and 15 years
For a 20-year policy term, premium paying terms (PPT) is 10 years and 20 years
For a 25-year policy term, premium paying terms (PPT) are 10 years, 15 years, and 25 years
Policy term fixed terms of 10, 15, 20, and 25 years

Shriram Life New Shri Life

Minimum and maximum entry age Minimum entry age – 30 days as on last birthday of the policyholder
Maximum entry age – 65 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum) Minimum sum assured – Rs.50,000
Maximum sum assured – The maximum amount is subject to Board-approved underwritten policy
Premium paying term (PPT) For a 10-year policy term, premium paying terms are (PPT) are 7 years and 10 years
For a 15-year policy term, premium paying terms (PPT) are 5, 7, 10, and 15 years
For a 20-year policy term, premium paying terms (PPT) are 5, 7, 10, and 20 years
For a 25-year policy term, premium paying terms (PPT) are 5, 7, 10, 15, and 25 years
Policy term fixed terms of 10, 15, 20, and 25 years

Shriram Life New Shri Vidya

Minimum and maximum entry ageMinimum entry age – 18 years as on last birthday of the policyholder
Maximum entry age – 50 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum)Minimum sum assured – Rs.1 lakh
Maximum sum assured – The maximum sum assured is subject to Board-approved underwritten policies
Premium paying term (PPT) For a 10-year policy term, premium paying term (PPT) is 10 years
For a 15-year policy term, premium paying terms (PPT) are 7, 10, and 15 years
For a 20-year policy term, the premium paying terms (PPT) are 7, 10, and 20 years
For a 25-year policy term, premium paying terms (PPT) are 7, 10, 15, and 25 years
Policy term fixed terms of 10 years, 15 years, 20 years and, 25 years

Shriram Life New Shri Vivah

Minimum and maximum entry ageMinimum entry age – 18 years as on last birthday of the policyholder
Maximum entry age – 50 years as on last birthday of the policyholder
Basic sum assured (minimum and maximum)Minimum sum assured – Rs.1 lakh
Maximum sum assured – The maximum amount is subject to Board-approved underwritten policies
Premium paying term (PPT)For the 10-year policy term, premium paying term (PPT) is 10 years
For 15-year policy term, premium paying terms (PPT) are 7, 10, and 15 years
For 20-year policy term, premium paying terms (PPT) are 7, 10, and 20 years
Policy termfixed terms of 10 years, 15 years, and 20 years
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