Mumbai, Maharashtra, India (NewsVoir) • Up to 668% of total premiums paid as guaranteed returns • Entry age ranges from 30 days to 60 years • Minimum ticket size starts from Rs. 30,000 annually • Flexible, tax-free maturity income payouts for up to 40 years (maximum age 101) • Death benefits up to 160 times the annualised premium.

Shriram Life Insurance has launched Shriram Life Sunishchit Laabh – a non-participating individual savings plan that guarantees high returns of up to 668% of the total premium paid. The plan offers flexible entry options with ages ranging from 30 days to 60 years, and a minimum ticket size starting at Rs. 30,000 annually, Rs. 15,500 half-yearly, Rs. 8,000 quarterly, and Rs. 3,000 monthly.

The plan features flexible maturity income payout options that include tax-free payouts for up to 40 years (up to a maximum age of 101), ensuring consistent income, even in retirement, for the long-term. It offers death benefits up to 160 times the annualised premium.

Sunishchit Laabh is ideal for retirement planning, children’s education, family protection or creating a long-term financial safety net. During the policy term, customers can alter the maturity income pay-out modes to monthly, quarterly, half-yearly, and yearly to suit their financial needs.

Speaking on the product, Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance, said, “Shriram Life Sunishchit Laabh highlights our dedication to empower families with financial stability and growth. In today’s uncertain world, this plan offers a unique combination of guaranteed returns and life insurance protection, ensuring our customers can achieve their long-term goals with confidence.” “What makes this plan exceptional is its flexibility, allowing customers to customise maturity income payouts, life cover, and premium payments to suit their unique needs. With loyalty rewards and optional riders, Sunishchit Laabh is a comprehensive solution that adapts to the financial priorities of diverse customer segments. Aligned with Shriram Life Insurance’s mission, this plan brings peace of mind and financial empowerment to millions across India,” he added.

Take, for example, the case of a 35-year-old policyholder who invests Rs. 1,00,000 annually under the Life Plus and Income Pro option for 25 years, with a 10x Annualized Premium as Sum Assured, a policy term of 26 years, and a payout period of 40 years. The policyholder would receive the following benefits: Rs. 3,09,717 annually for 39 years after the policy matures, a Return of Premium of Rs. 25,00,000 in the 40th year, and a total benefit of Rs. 1,45,78,963, ensuring financial stability for decades.

In the unfortunate event of the policyholder's death during the policy term, the future premiums will be waived off, and the nominees or beneficiaries will receive the death sum assured of Rs. 10,00,000 in equal monthly installments starting from the end of the month of death until the end of the policy term. Additionally, they will also receive the Rs. 1,45,78,963 as scheduled income payouts after the policy maturity.

Key Highlights Details* Guaranteed High Returns** Provides returns of up to 668% of Total Premium Paid (TPP), delivering significant financial security.

Flexible Life Cover Options - Life Option: Lump sum payout for life cover.

- Life Plus Option: In case of death, Death Sum Assured is paid as equal monthly income pay-outs with a waiver of future premiums. Additionally, nominees will receive the Maturity benefit as scheduled.

Customisable income variants - Income Plus: Regular payouts enhanced with loyalty additions over the chosen income periods of 10 to 40 years.

- Income Pro: Enhanced payouts for 10 to 40 years, with the return of total premiums as a lump sum at the end of the payout period.

Wide range of income period Options ranging from 10 to 40 years, tailored to meet individual financial goals.

Loyalty additions Boost maturity benefits throughout the chosen payout period with loyalty rewards of up to 46% of the annualised premium.

Additional Protection with Riders Includes Accident Benefit, Family Income Benefit, Critical Illness Plus, and Extra Insurance Cover riders for enhanced security.

**Applicable for ages up to 10, policy term of 26 years, payout period of 40 years with Life and Income Pro Options. For ages up to 30, applicable returns will be around 600%.

*Terms and conditions apply. Benefits are subject to policy terms and conditions as outlined in the official brochure.

About Shriram Life Insurance Company Shriram Life Insurance Company offers term, endowment, ULIPs and annuities for the rural and urban middle-class at affordable premiums. While the ticket size for non-single individual premium policies is about Rs. 21,000, the average ticket size for individual policies including single premium stands at around Rs. 22,200. The company’s protection and long-term savings plans help it give families comprehensive life cover besides offering stable investment solutions for their key life goals. The company has an in-force policyholder base of over 12 lakh.

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