Shri Raksha is a participating life insurance plan that combines security and saving. The premium is payable during the premium paying term at regular intervals. The total benefits payable to any policyholder during the policy term will equal two times the sum assured along with assured bonuses.
Eligibility –
| Condition | Limit |
| Minimum age at entry | 12 Years |
| Maximum age at entry | 65 Years |
| Minimum age at the end of premium paying term | 18 Years |
| Maximum age at the end of the premium paying term
|
75 Years
|
| Minimum premium paying term | 10 Years |
| Maximum premium paying term | 25 Years
|
|
Minimum Sum assured |
Rs.50,000 |
Benefits –
On death of life assured during the premium paying term –
Two times the sum assured along with vested bonuses will be paid and the policy comes to end.
On survival of life assured up to the end of the premium paying term –
Sum assured along with vested bonuses will be paid
On death of the life assured after the end of the premium paying term –
Sum assured will be paid and the policy comes to an end
Bonus –
Simple reversionary bonus will accure during the premium paying term.
Payment –
| Payment Mode | Rebate |
| Yearly
Half- Yearly |
1.5% of the tabular premium as rebate
0.75% of the tabular premium as rebate |
Rebates –
| Sum Assured | Rebate |
| Below Rs-100,000 | NIL |
| Rs.100,000 to Rs.1,99,000 | Re.1 per thousand |
| Rs.2,00,000 to Rs.2,99,000 | Rs.2per thousand |
| Rs.3,00,000 & above | Rs.3per thousand |
Know about more plans- Shriram Life Insurance
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