Shri Suraksha Term Plan

Sample Premiums for this plan
Healthy | (non-tobacco) | Male | Policy term = 60 years
1 Lakhs Cover
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Death Benefit only
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Term Insurance Policy
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Income Tax Benefit

Shri Suraksha is an increasing term plan where the basic sum assured is always Rs 1,00,000 and it keeps increasing by Rs 5,000 every year till it reaches Rs 2,00,000 and is then constant. The policy would continue till the life insured is 60 years of age. Thus, if the life insured dies within the policy tenure, the sum assured would be payable to the nominee but there is no maturity benefit.

Compare this plan with other Term Plans

Shri Suraksha Term Plan - Key Features

It is a pure Term Insurance Policy with Death Benefit only
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It is an increasing term plan where the Sum Assured keeps increasing by Rs 5,000 every year.
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There are additional rider benefits of Accidental Death and Accidental Total and Permanent Disability
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There are 2 riders are available in this policy

  • Accidental Death and
  • Accidental Total and Permanent Disability


Shri Suraksha Term Plan - Benefits

Death Benefit

In case of death of the Life Insured, the nominee gets the sum assured under the plan. The Sum Assured however keeps increasing from Rs 1,00,000 by...

Maturity Benefit

There are no maturity benefits under this plan.

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Eligibility conditions and other restrictions in Shri Suraksha

  Minimum Maximum
Sum Assured (in Rs.) Base Sum Assured is Rs 1,00,000 which increases by Rs 5,000 every year till it reaches Rs 2,00,000
Policy Term (in years) 60 years – age of life insured
Premium Payment Term (in years) Equal to Policy Term
Entry Age of policyholder (in years) 25 45
Age at Maturity - 60
Single Premiums (in Rs.) NA NA
Payment modes
Yearly, Half-Yearly, Quarterly and Monthly

Shri Suraksha Term Plan - FAQs

angle right iconYou stop paying the premium

If the policy holder stops paying the premium, then the policy would lapse and all benefits would cease to exist. You can re-instate the policy within 5 years of lapsation by paying up all due premiums with interest.

angle right iconYou want to surrender the policy

There are no surrender benefits under this term plan.

angle right iconYou want a loan against your policy

Loan facility is not available under this policy.