Shriram New Shri Vidya Plan

A good and the proper education acts as the building block of a child’s future, it helps a child to cover greater miles with a piece of proper knowledge. The Shriram New Shri Vidya Policy Plan is a  non-linked, participating form of a plan which is exclusively made in order to fulfill all the basic requirements of your child’s ever increasing educational expenses and to assist them to conquer their aspirations and dreams. This is a  traditional plan in nature and waves you with few of the bonus facilities. Shriram New Shri Vidya Policy Plan provides coverage through several survival add on benefits that syncs in with your child’s educational requirements. The plan also serves insurance coverage for the policy owner in case he or she comes in contact with an unfortunate event where they lose their life.

Who is the Shriram New Shri Vidya Plan for?

Eligibility

An individual who is willing to avail this particular plan have to meet some of the below listed eligibility criteria:-

Eligibility Details

1. Minimum Entry Age:- 18 years

2. Maximum Entry Age:- 50 years

3. Maximum Age of Maturity:- 70 years

4. Minimum Policy Period:- 7 years

5. Maximum Policy Period:- 25 years

Key Features

Few of the basic key features of Shriram New Shri Vidya Policy Plan are listed below:-

1. Death benefit payable amount is quite considerable with a flow of income provided on a monthly basis plus sum assured.

2. Extra sum assured is also given in equal portions at the finish of the last four years of the policy period.

3. This plan serves a high sum assured discount to it’s policy owners.

4. Accidental Coverage

What you get and what is costs?

1. The sum assured is directly depends on the premiums that you will are needed to pay to be eligible to avail all the benefits of the policy.

2. Premiums are paid to the insurer to purchase a policy from them so that the individual can come under the benefits and coverage of the Shriram New Shri Vidya Plan.

 What the Shriram New Shri Vidya Plan covers?

The New Shri Vidya Plan provided by Shriram Life Insurance serves a several number of exciting features and these are listed below:

Details

1. Benefit for the Maturity:- End Bonus plus Accrued Reversionary Bonuses will be given to the life covered under the insurance.

2. Benefit for the Death:- Amount assured and the Policy End Bonus plus Accrued Reversionary Bonuses will be given to the nominee mentioned in the policy documents.

3. The Survival Benefit:- The life insured under the policy will get about 25% of the amount which is assured at the end of each of the last for years of the policy.

Riders/Add-On Plans – Additional coverage under the Shriram New Shri Vidya Plan

A rider is a type of an add-on cover that you can choose along with your traditional policy plan that aids some of the additional features and benefits to the policy owner after clearing an additional price. There are three types of riders that are available that can be added along with the to Shriram New Shri Vidya Plan and these are mentioned below:-

1. The Shriram Accidental Benefit Add-On:- This additional feature gives an assured amount to the policy owner in case of an event of the death or permanent disability of the person insured because of an accident. All the future premiums that is left to be cleared shall be waived off from the moment of the accident to the end of the add-on feature.

2. Shriram Extra Insurance Cover:- This rider provides additional coverage benefit to help you meet all your financial commitments in the event of the policy owner’s death.

3. Shriram Critical Illness Cover: The add-on covers provides a benefit that helps you cover any medical expense that a policy owner might face because of any critical illness. The add-on covers the following six illnesses:

• Heart Attack
• Cancer
• Kidney Failure
• Stroke
• Major Organ Transplant
• Coronary Artery Bypass Surgery

 Documents Required

The documents that are required to apply for the Shriram New Shri Vidya Policy Plan are a very few and are listed below:-

1. Properly filled Application Form

2. Medical Documents

3. Address Proof

4. And the necessary KYC Papers

Inclusions & Exclusions – What the Shriram New Shri Vidya Plan doesn’t cover?

If the policy owner commits suicide within an year from the date of starting of the policy, the the company will pay the mentioned nominee with 80% of the premiums which were earlier paid.

Inclusions

1. The Shriram Accidental Benefit Add-On:- This additional feature gives an assured amount to the policy owner in case of an event of the death or permanent disability of the person insured because of an accident. All the future premiums that is left to be cleared shall be waived off from the moment of the accident to the end of the add-on feature.

2. Shriram Extra Insurance Cover:- This rider provides additional coverage benefit to help you meet all your financial commitments in the event of the policy owner’s death.

3. Shriram Critical Illness Cover: The add-on covers provides a benefit that helps you cover any medical expense that a policy owner might face because of any critical illness. The add-on covers the following six illnesses:

• Heart Attack
• Cancer
• Kidney Failure
• Stroke
• Major Organ Transplant
• Coronary Artery Bypass Surgery

Other Key Features of Shriram New Shri Vidya Plan

1. Death benefit payable amount is quite considerable with a flow of income provided on a monthly basis plus sum assured.

2. Extra sum assured is also given in equal portions at the finish of the last four years of the policy period.

3. This plan serves a high sum assured discount to it’s policy owners.

Tax Benefits – How you can save with the Shriram New Shri Vidya Plan?

Tax Benefits under this plan are bases on the current prevailing laws of the Income Tax Act. Tax benefits falls under the subject to change at any time according to tax laws and so, it is advised that before investing and shaking hands with any of the insurance company, you must consult your trusted lawyer and/or insurance expert.

Why you should buy the New Shri Vidya Plan from Shriram Life Insurance?

With over 528 branches established around India, Shriram Life Insurance is proving to be a great runner in the insurance field. The company is providing quality products and services. The team works hard to make sure to give products that are designed to meet the needs and requirements of its customers. The company owns wide and large customer base. The Shriram New Shri Vidya Plan Providers is making all their plans available at an extremely affordable price range which attracts the customers to visit them and join hands for their security.

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