Shriram Life Insurance, as part of its golden jubilee year, has unveiled a new unit linked policy with life goal and legacy options offering policyholders financial control with multiple fund options and investment strategies.
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As part of the plan, the insured gets the options of unlimited free switches, premium re-direction, top-ups, partial withdrawals and settlement options, and flexibility to alter policy term, premium payment term, sum assured and premium, the insurer said in a statement.
The new policy promotes longer-term investments by way of wealth boosters, return of allocation charges and mortality charges and a whole life option. The minimum entry age is 30 days.
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The Life Goal plan is meant to meet specific financial objectives such as education expenses, buying a home or starting a business.
The Legacy plan offers three premium paying term options: single pay, limited pay and regular pay. It also gives customers two death benefit options to choose from. Depending on the option chosen, the family of the deceased will either get the sum assured along with fund value, or a higher sum assured and fund value.
“The plan gives various flexibilities and options to choose from, provides financial protection and encourages long-term participation in the market,” said MD & CEO Casparus Kromhout.