Shriram ULIP Plans

Shriram ULIP Plans: Brief Overview

Shriram General Insurance Company Limited is a collaborative venture between Shriram Capital Limited and Sanlam Limited in 2008. In the year 2012, the stake of Sanlam Limited was sold to Shriram Capital Limited. Ever since its establishment, the company has launched various insurance plans that are not only customer-centred but also very reasonable. 

Through their Unit-Linked Insurance Plans, the company is helping the customers in getting the perfect combination of life cover and market-linked returns.

Features of Shriram ULIP Plans

Benefits of Buying Shriram ULIP Plans

1. Two-Folded Advantage
   With your long-term investment in Shriram ULIP Plans, you not only get the safety of life cover, but also gain market-linked returns. So, through a single plan, you can get double benefits. 
   
    
2. Customise Your Investments
   Shriram ULIP Plans provide great opportunities to all kinds of investors. Seasoned investors who like to take risks, can put their money in equity funds. On the other hand, debt funds are more suitable for amateur or low-risk investors. 
   
    
3. Freedom to Switch
   If you want to alter your investment portfolio, you can do that easily. With Shriram ULIP Plans, you can make unlimited fund switches without paying any charges.
   
    
4. Partial Withdrawals
   Just like all other ULIPs, there is a 5-year locking period in the Shriram ULIP Plans too. Once this period is over you can make a partial withdrawal from your compounded fund value. 
   
    
5. Tax Benefits
   With Shriram ULIPs you are eligible for tax benefits as well. The premium that you pay is tax-free up to INR 1.5 lakhs annually, under Section 80C of the Income Tax Act, 1961. Under Section 10(10D), the Death/ Maturity received is also exempted from tax.
   
    
6. An Efficient Tool 
   When you invest in a ULIP, it puts you into the habit of making a regular and disciplined saving. As per financial experts, this is imperative in building a corpus that is enough for your future financial needs. 
   
    

Most Popular Shriram ULIP Plans:

1. Shriram Life Growth Plus Plan
   This unit-linked life insurance plan is savings-oriented, that offers you a life cover along with market-linked returns throughout the policy term. You have a lot of choices and can thus, customise the plan as per your needs, for instance, the payment frequency of the premium, the kind of fund, etc. Another great advantage of this plan is that you can also extend the life cover to your spouse, child or grandchild. To extend the scope of the sum assured, you can opt for a Top-Up and also include Riders in your plan.  
   
    
2. Shriram Life Fortune Builder Plan
   A single premium unit-linked plan, under this plan you pay the premium once and enjoy the policy benefits for the whole term. Such a plan is highly suited for investors who do not have a constant cash flow to keep paying the premiums regularly, or for those who do not wish to have the hassle of regular premiums and thus want to pay one time itself. Fortune Builder Plan offers various investment fund options and strategies to choose from. You can also switch between the funds any number of times. 
   
    
3. Shriram Life Wealth Plus Plan
   Shriram Life Wealth Plus Plan is a unit-linked life insurance plan that gives you a sense of security that even if something happens to you, your family would be covered financially. The plan also focuses on maximising the market-returns, and thus offers big benefits under a single plan. Without paying any charges you can opt for unlimited switching and premium redirection. 
   
    

Insight on Shriram ULIP Plans
 

Shriram Insurance aims to focus on approaching the insurance needs of its customers, with an extra emphasis on the underprivileged sections of the society. The ULIPs launched by the company are innovative and efficient and offer multiple advantages. When you invest systematically in small amounts over the years it becomes a huge corpus. This compounded amount can then be used for fulfilling any of your financial goals, for example, buying your dream house, planning your child’s wedding, saving for your post-retirement days and many such goals. 

Shriram ULIP Plans provide you with customised solutions that help you get closer to your long-term goals quickly. The availability of riders and top-ups further helps you in increasing the scope of the coverage.