Shri Suraksha Term Plan
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
There are 2 riders are available in this policy
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Shri Suraksha Term Plan - Benefits
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
There are no maturity benefits under this plan.
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
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Shri Suraksha Term Plan - FAQs
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.
There are no surrender benefits under this term plan.
Loan facility is not available under this policy.
