{"uin":"128N089V05","name":"Shriram Life Assured Savings Plan","url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05","insurer":{"slug":"shriram-life-insurance","name":"Shriram Life Insurance Company Limited","url":"https://indiainsurances.com/insurer/shriram-life-insurance"},"line":"life","category":"savings-life","category_name":"Endowment and savings plans","irdai_type":"Product","kind":"product","status":"active","approved_on":"2024-10-04","withdrawn_on":null,"summary":"Shriram Life Assured Savings Plan is a non-linked non-participating individual savings life plan with Option 1 Life Cover and Option 2 Life Cover with in-built Accidental Death Benefit. It has policy terms of 7, 10 or 15 years, entry age 3 to 55 years, and pays the Guaranteed Maturity Sum Assured in lump sum at maturity.","analysis":{"state":"machine","analysed_at":"2026-10-19 23:43:54.001151+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Option 1: Life Cover","Option 2: Life Cover with in-built Accidental Death Benefit"],"display":"Option 1: Life Cover; Option 2: Life Cover with in-built Accidental Death Benefit","note":null,"quote":"Plan Options | Option 1: Life Cover Option 2: Life Cover with in-built Accidental Death Benefit","sources":[{"clause":null,"heading":"PLAN ELIGIBILITY","page":3,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16027#c-plan-eligibility"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"Policy terms are 7, 10 or 15 years.","display":"7, 10 or 15 years","note":null,"quote":"Policy Term / Premium Payment Term | Policy Term 7 10 15 Premium Payment Term 5 5,8,10 8,10,15","sources":[{"clause":null,"heading":"PLAN ELIGIBILITY","page":3,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16027#c-plan-eligibility"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"Death claim should be intimated within 90 days from the date of death. Delay beyond 90 days may be condoned if it is beyond the control of the claimant.","display":"Death claim within 90 days from date of death; delay beyond 90 days may be condoned if beyond claimant control","note":null,"quote":"Death claim should be intimated within 90 days from date of death. However, if there is any delay in death claim intimation beyond 90 days that are beyond the control of claimant then the claim may be processed by condoning the delay.","sources":[{"clause":"Part F(ix)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-ix"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Original policy document","Proof of death/ Death certificate","Identity proof of Nominee(s)","Any other document depending on the cause of death and nature of claim","For accident or medical cases: FIR, police inquest report, post mortem report, driving license if life assured was driving the vehicle, Hospital treatment records, etc.","For maturity claim: Identity proof of Policyholder, Cancelled Cheque leaf or copy of Policyholder’s bank Passbook, NEFT mandate form, Duly filled discharge form"],"display":"Death claim: original policy document, death proof/certificate, nominee identity proof and cause-specific documents. Accident/medical cases may need FIR, police inquest, post mortem, driving licence and hospital records; maturity claims need policy document, policyholder ID, cancelled cheque/passbook, NEFT mandate and discharge form.","note":null,"quote":"F9. Documents required for making a death claim:\na) Original policy document\nb) Proof of death/ Death certificate\nc) Identity proof of Nominee(s)\nd) Any other document depending on the cause of death and nature of claim For accident or medical cases following additional documents, whichever applicable, may be required:\na) A certified copy of first information report (FIR).\nb) A certified copy of police inquest report.\nc) Post mortem report\nd) If death is due to vehicle accident, then copy of driving license, if life assured was driving the vehicle.\ne) Hospital treatment records, etc. F10. Documents required for settlement of a maturity claim:\na) Original policy document\nb) Identity proof of Policyholder\nc) Cancelled Cheque leaf or copy of Policyholder’s bank Passbook\nd) NEFT mandate form\ne) Duly filled discharge form","sources":[{"clause":"Part F(ix)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-ix"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"Death claims not requiring investigation are to be paid, rejected or repudiated within 15 days from receipt of the last required documents or clarifications. If investigation is required, it must be completed within 15 days from receipt of the last necessary document and the claim disposed within 30 days thereafter, not exceeding 45 days.","display":"Death claim: 15 days from last required documents if no investigation; with investigation, complete investigation in 15 days and dispose within 30 days thereafter, not exceeding 45 days","note":"Maturity payments are to be paid on due date or receipt of last necessary document, whichever is later.","quote":"The death claim shall be paid or rejected or repudiated giving relevant reasons, within 15 days from the receipt of last required documents/clarifications for claims which do not require any investigation. However, where the circumstances of a claim warrant an investigation in the opinion of the insurer, it shall initiate the same at the earliest and complete the such investigation within 15 days from the date of receipt of last necessary document and the claim shall be disposed within 30 days thereafter and in any case should not exceed 45 days.","sources":[{"clause":"Part F(II)(e)(i)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-ii-e-i"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["For the basic death benefit, there are no exclusions other than suicide clause.","Suicide or attempted suicide or self-inflicted injury, whether the life assured is medically sane or insane.","War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion, revolution, insurrection, military or usurper power, riot or civil commotion.","Taking part in any naval, military or air force operation during peace time.","Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent.","Taking part in professional sport(s) or any adventurous pursuits or hobbies.","Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug, narcotics, medicine, sedative, poison or psychotropic substances, unless taken in accordance with the lawful directions and prescription of a medical practitioner.","Nuclear Contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature.","Inhaling any gas or fumes, accidentally or otherwise, except accidentally in the course of duty.","Participation in aviation other than as a fare-paying passenger in an aircraft that is authorised by the relevant regulations to carry such passengers between established aerodromes."],"display":"Basic death benefit has no exclusions other than suicide. Option 2 additional accidental death benefit excludes suicide/self-inflicted injury, war/terrorism/civil commotion, military operations, criminal acts, professional sports/adventurous pursuits, intoxicants or drugs unless prescribed, nuclear contamination, gas or fumes except in course of duty, and aviation other than as a fare-paying passenger.","note":"The listed accident exclusions apply to the additional accidental death benefit under Option 2.","quote":"For the basic death benefit, there are no exclusions other than suicide clause. However, the life assured will not be entitled to additional accidental death benefits caused, occasioned, accelerated or aggravated directly or indirectly due to any of the following: ... i) Suicide or attempted suicide or self-inflicted injury, whether the life assured is medically sane or insane. ... ii) War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion, revolution, insurrection, military or usurper power, riot or civil commotion. War means any war whether declared or not. ... iii) Taking part in any naval, military or air force operation during peace time. ... iv) Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent. ... v) Taking part in professional sport(s) or any adventurous pursuits or hobbies. ... vi) Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug, narcotics, medicine, sedative, poison or psychotropic substances, unless taken in accordance with the lawful directions and prescription of a medical practitioner. ... vii) Nuclear Contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature. ... viii) Inhaling any gas or fumes, accidentally or otherwise, except accidentally in the course of duty. ... ix) Participation in aviation other than as a fare-paying passenger in an aircraft that is authorised by the relevant regulations to carry such passengers between established aerodromes.","sources":[{"clause":"Part F(II)","heading":"Exclusions under option 2","page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-ii"},{"clause":"Part F(i)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-i-2"},{"clause":"Part F(ii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-ii-2"},{"clause":"Part F(iii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-iii"},{"clause":"Part F(iv)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-iv"},{"clause":"Part F(v)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-v"},{"clause":"Part F(vi)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-vi"},{"clause":"Part F(vii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-vii"},{"clause":"Part F(viii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-viii"},{"clause":"Part F(ix)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-ix"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"First contact Shriram Life customer care or the Grievance Redressal Officer. If not satisfied with the response or no response is received within 14 days, the policyholder may approach IRDAI, and then the Insurance Ombudsman if not satisfied with the company's decision or resolution.","display":"First contact Customer care or Grievance Redressal Officer; if no satisfactory response within 14 days, approach IRDAI, then Insurance Ombudsman","note":null,"quote":"You can also contact our Customer care on our Toll free no: 1800-103-6116 & through email id: customercare@shriramlife.in Grievance Redressal Officer, Shriram Life Insurance Company Limited, Regd Office: Plot no 31-32, Ramky Selenium, Financial district, Gachibowli, Hyderabad, Telangana - 500032 Contact No: 040-23009400 Email Id: grievance.redressal@shriramlife.in If you are not satisfied with the response or do not receive a response from us within 14 days, you may approach the Grievance Cell of the Insurance Regulatory and Development Authority of India (IRDAI). ... In case you are not satisfied with the decision or resolution of the company, you may approach the Insurance Ombudsman at the address given below","sources":[{"clause":"Part G","heading":"Complaints and grievances","page":10,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-g"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"Death Sum Assured is the higher of 10 times annualised premium if entry age is up to 45 years, 7 times annualised premium if entry age is above 45 years, 105% of total premiums paid till death, or surrender value on the date of death.","display":"Higher of 10 times annualised premium up to entry age 45, 7 times annualised premium above 45, 105% of total premiums paid till death, or surrender value on death date","note":null,"quote":"“Death Sum Assured” is defined as higher of\n• 10 times annualised premium if age at entry is less than or equal to 45 years & 7 times annualised premium if age at entry is above 45 years\n• 105% of the Total Premiums Paid till the date of death\n• Surrender Value on the date of death","sources":[{"clause":null,"heading":"C2. Benefits under the Plan","page":4,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-c2-benefits-under-the-plan"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"Under Option 1, death benefit is one Death Sum Assured, payable to nominee(s) or beneficiary(ies) if the policy is in force. Under Option 2, death other than accident pays one Death Sum Assured, and accidental death pays an additional one more Death Sum Assured; the policy terminates on payment.","display":"Option 1: one Death Sum Assured. Option 2: one Death Sum Assured, plus one more Death Sum Assured for accidental death.","note":null,"quote":"Option 1 (Life Cover) In case of death of the life assured ,the death benefit equal to one “Death Sum Assured” will be payable to the nominee(s) or beneficiary(ies), provided the policy is in force, - Option 2 (Life Cover with in-built accidental death cover) In case of death of the life assured ,the death benefit equal to one “Death Sum Assured” will be payable to the nominee(s) or beneficiary(ies), provided the policy is in force, -In case of death of the life assured due to accident an additional benefit equal to one more “Death Sum Assured” will be payable to the nominee(s) or beneficiary(ies), provided the policy is in force, The policy will terminate on payment of the death benefit.","sources":[{"clause":"1","heading":"Death Benefit","page":5,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-1-2"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"If the life assured survives to the end of the policy term and the policy is in force, the Guaranteed Maturity Sum Assured is paid. Guaranteed Maturity Sum Assured equals Maturity Benefit Factor multiplied by Basic Sum Assured, where Basic Sum Assured equals Premium Paying Term multiplied by annualised premium.","display":"Guaranteed Maturity Sum Assured = Maturity Benefit Factor * Basic Sum Assured; Basic Sum Assured = Premium Paying Term * Annualised premium","note":"Maturity Benefit Factors are in Annexure IV.","quote":"In case of survival of the life assured up to the end of the policy term provided the policy is in force Guaranteed Maturity Sum Assured will be paid. Guaranteed Maturity Sum Assured = Maturity Benefit Factor * Basic Sum Assured Where Basic Sum Assured = Premium Paying Term * Annualised premium","sources":[{"clause":"2","heading":"Maturity benefit","page":5,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-2-2"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Premium paying terms are 5 years for a 7-year policy term; 5, 8 or 10 years for a 10-year policy term; and 8, 10 or 15 years for a 15-year policy term.","display":"5 years for 7-year term; 5, 8 or 10 years for 10-year term; 8, 10 or 15 years for 15-year term","note":null,"quote":"Policy Term / Premium Payment Term | Policy Term 7 10 15 Premium Payment Term 5 5,8,10 8,10,15","sources":[{"clause":null,"heading":"PLAN ELIGIBILITY","page":3,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16027#c-plan-eligibility"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"Maturity age is minimum 18 years and maximum 65 years, age last birthday.","display":"Maximum 65 years (age last birthday)","note":null,"quote":"Maturity Age | Minimum: 18 years (age last birthday) Maximum: 65 years (age last birthday)","sources":[{"clause":null,"heading":"PLAN ELIGIBILITY","page":3,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16027#c-plan-eligibility"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If death is due to suicide within 12 months from commencement of risk or revival, the nominee(s) or beneficiary(ies) get 80% of total premiums paid till death or the surrender value available on the date of death, whichever is higher, provided the policy is in force.","display":"Within 12 months: 80% of total premiums paid till death or surrender value on death date, whichever is higher","note":null,"quote":"In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee(s) or beneficiary(ies) of the policyholder shall be entitled to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force.","sources":[{"clause":"Part F(I)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f-i"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"Surrender value is available after at least the first full policy year's premium(s) have been paid and the first policy year is completed. The surrender value is the higher of Guaranteed Surrender Value and Special Surrender Value.","display":"Available after first full policy year's premium(s) and first policy year completed; higher of GSV or SSV","note":"Special Surrender Value is reviewable and determined by the Company from time to time subject to prior IRDAI approval.","quote":"To get the surrender value, you must have paid at least first full policy year’s premium(s) and completed the first policy year. The surrender value is higher of GSV (Guaranteed Surrender Value) and SSV (Special Surrender Value)","sources":[{"clause":"Part D","heading":"Non-forfeiture Benefits & Policy Servicing","page":6,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-d"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"A policy that has acquired surrender value will not lapse for non-payment of further premiums and continues with reduced paid-up death and maturity benefits. Paid-up death sum assured and paid-up maturity sum assured are reduced in proportion to number of premiums paid divided by total number of premiums payable.","display":"Continues with reduced paid-up benefits after acquiring surrender value; benefits are prorated by premiums paid / total premiums payable","note":"The policy wording definition says paid-up status applies if premiums are paid for at least 2 full years, while the benefit and surrender clauses say a policy with surrender value does not lapse and surrender value is available after first full policy year's premium(s) and completion of first policy year.","quote":"A policy which has acquired a surrender value shall not lapse by reason of the non-payment of further premiums but shall be kept in-force to the extent of the paid-up benefits and the subsisting guaranteed addition, if any. ... Paid up death sum assured = Death Sum Assured *(No of premiums paid/Total no. of premiums payable) ... Paid-up maturity sum assured = Guaranteed Maturity Sum Assured *(No of premiums paid/Total no. of premiums payable) ... To get the surrender value, you must have paid at least first full policy year’s premium(s) and completed the first policy year. ... B33. Paid-up: Paid - up is the status of the Policy, if the premiums are paid for at least 2 full years and subsequent due premium/s have not been paid","sources":[{"clause":"2","heading":"Maturity benefit","page":5,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-2-2"},{"clause":"Part D","heading":"Non-forfeiture Benefits & Policy Servicing","page":6,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-d"},{"clause":null,"heading":"B33. Paid-up","page":3,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-b33-paid-up"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A paid-up or lapsed policy can be revived within five years from the date of first unpaid premium, subject to written request, evidence of insurability accepted by the company, and payment of outstanding premiums with interest.","display":"Within five years from the date of first unpaid premium","note":null,"quote":"A Paid-up / lapsed policy can be revived within a revival period of five years from the date of first unpaid premium as per Board approved underwriting policy subject to the following conditions:\n• A written request has to be submitted by the policyholder within a period of five years from the date of first unpaid premium,\n• Satisfactory evidence of insurability of the Life Assured as per Board approved under writing policy is submitted and accepted by the Company in writing.\n• All outstanding premiums due from the date of first unpaid premium to the date of revival together with interest is paid by the policy holder.","sources":[{"clause":"Part D","heading":"Non-forfeiture Benefits & Policy Servicing","page":6,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-d"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"conflicting","value":"Policy loans equal to 80% of the surrender value, if any, are available, and a lower amount may be taken. Loan interest rate is 9% during 1st May 2025 to 30th April 2026, and outstanding loan with accrued interest is recovered from policy proceeds.","display":"Yes, loan equal to 80% of surrender value; loan interest rate 9% during 1st May 2025 to 30th April 2026","note":"The prospectus says: 'Loans Up to 90% of the surrender value, if any, is allowed on the policy.' The policy wording is used for the displayed answer.","quote":"Policy Loans equal to 80% of the surrender value, if any, are available on the policy. However the policyholders are allowed to take lower amount of loan than the available loan if they desire. ... The loan interest rate is 9% during the period from 1st May 2025 to 30th April 2026. ... Any outstanding loan with accrued interest will be recovered from policy proceeds before any benefit is paid on the policy.","sources":[{"clause":"Part D","heading":"Non-forfeiture Benefits & Policy Servicing","page":6,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-d"},{"clause":null,"heading":"Loans","page":10,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16027#c-loans"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"No life insurance policy can be called in question on any ground after three years from the date of policy, commencement of risk, revival or rider, whichever is later. Within three years it may be questioned on fraud or material misstatement/suppression, with written grounds and materials communicated.","display":"After three years, no policy can be called in question on any ground; within three years it may be questioned for fraud or material misstatement/suppression","note":null,"quote":"(1) No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e. from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. (2) A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground of fraud. ... (4) A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground that any statement of or suppression of a fact material to the expectancy of the life of the insured was incorrectly made","sources":[{"clause":"Section 45","heading":"of the insurance Act, 1938 as amended from time to time","page":10,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-section-45"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"quote-verified","value":"Tax benefits may be available as per prevailing tax laws, are subject to change from time to time, and the document asks the customer to consult a tax advisor.","display":"Tax benefits may be available as per prevailing tax laws; consult your tax advisor","note":null,"quote":"Tax benefits may be available as per prevailing tax laws. Tax benefits are subject to changes according to the tax laws from time to time; please consult your tax advisor for details.","sources":[{"clause":null,"heading":"Tax Benefits","page":11,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16027#c-tax-benefits"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"Refund is processed within 7 days of receipt of the free-look cancellation request, subject to permitted deductions.","quote":"The policy holder has a period of 30 days beginning from the date of receipt of the policy document, whether received electronically or otherwise, to review the terms and conditions of the policy.","sources":[{"clause":"Part D","heading":"Non-forfeiture Benefits & Policy Servicing","page":6,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-d"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days for non-monthly modes; 15 days for monthly mode","note":"Monthly mode has 15 days.","quote":"A grace period of 30 days for payment of premium for non-monthly modes and 15 days for payment of monthly mode will be allowed.","sources":[{"clause":"2","heading":"Maturity benefit","page":5,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-2-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum entry age is 3 years and maximum entry age is 55 years, age last birthday.","display":"Minimum 3 years; maximum 55 years age last birthday","note":null,"quote":"The minimum and maximum age entry eligible under this plan is 3 years and 55 years age last birthday respectively.","sources":[{"clause":"Part F","heading":"Terms & Conditions","page":7,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-part-f"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Yearly","Half yearly","Quarterly","Monthly"],"display":"Yearly, Half yearly, Quarterly and Monthly","note":null,"quote":"The premiums can be paid in Yearly, Half yearly, Quarterly and Monthly modes","sources":[{"clause":"2","heading":"Maturity benefit","page":5,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-2-2"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Regular - Equal to Policy Term","Limited - For Policy Term of 7 years : 5 years","Limited - For Policy Term of 10 years : 5,8 years","Limited - For Policy Term of 15 years : 8, 10 years"],"display":"Regular - Equal to Policy Term; Limited - 5 years for 7-year term, 5 or 8 years for 10-year term, 8 or 10 years for 15-year term","note":"From the sales brochure. The prospectus eligibility table shows 10 and 15 year premium payment terms matching 10 and 15 year policy terms, respectively, as well as shorter premium payment terms.","quote":"Regular - Equal to Policy Term\nPremium Paying Term | Limited - For Policy Term of 7 years : 5 years\nFor Policy Term of 10 years : 5,8 years For Policy Term of 15 years : 8, 10 years","sources":[{"clause":null,"heading":"Income Tax Benefits","page":2,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16026#c-income-tax-benefits"}],"law":[]},{"key":"guaranteed_benefits","label":"Guaranteed benefits","section":"Cover","meaning":"What is guaranteed, in rupees or as a formula, regardless of the insurer's performance.","status":"quote-verified","value":"Death Sum Assured is guaranteed as the higher of 10 times annualised premium up to entry age 45 or 7 times annualised premium above entry age 45, 105% of total premiums paid till death, or surrender value on the date of death. Guaranteed Maturity Sum Assured equals Maturity Benefit Factor multiplied by Basic Sum Assured, where Basic Sum Assured equals Premium Paying Term multiplied by annualised premium.","display":"Guaranteed death cover formula and Guaranteed Maturity Sum Assured = Maturity Benefit Factor * Basic Sum Assured","note":null,"quote":"“Death Sum Assured” is defined as higher of\n• 10 times annualised premium if age at entry is less than or equal to 45 years & 7 times annualised premium if age at entry is above 45 years\n• 105% of the Total Premiums Paid till the date of death\n• Surrender Value on the date of death ... Guaranteed Maturity Sum Assured = Maturity Benefit Factor * Basic Sum Assured Where Basic Sum Assured = Premium Paying Term * Annualised premium","sources":[{"clause":null,"heading":"C2. Benefits under the Plan","page":4,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-c2-benefits-under-the-plan"},{"clause":"2","heading":"Maturity benefit","page":5,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-2-2"}],"law":[]},{"key":"bonus","label":"Bonus type","section":"Cover","meaning":"Participating plans share profits as bonuses; these are NOT guaranteed.","status":"quote-verified","value":"The product is Non-Participating.","display":"Non-Participating","note":"No participating bonus is stated for this non-participating plan.","quote":"A Non-linked Non-Participating Life Insurance Individual Savings Plan","sources":[{"clause":null,"heading":null,"page":1,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-s1"}],"law":[]},{"key":"illustration_returns","label":"Illustrated returns","section":"Cover","meaning":"The benefit illustration at the IRDAI rates (4% and 8%); not a promise.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"money_back","label":"Survival or money-back payouts","section":"Cover","meaning":"Instalments paid during the term.","status":"quote-verified","value":"No instalment survival or money-back payouts are specified; survival to the end of the policy term pays the Guaranteed Maturity Sum Assured in lump sum.","display":"No money-back instalments stated; maturity is paid in lump sum","note":null,"quote":"Maturity | Payable in lump sum | “Guaranteed Maturity Sum Assured” as described below will be paid. ... In case of survival of the life assured up to the end of the policy term provided the policy is in force Guaranteed Maturity Sum Assured will be paid.","sources":[{"clause":null,"heading":"Benefits payable under the various contingencies of the Plan","page":4,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-benefits-payable-under-the-various-contingencies"},{"clause":"2","heading":"Maturity benefit","page":5,"url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028#c-2-2"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Document -Download Assured Savings Plan","pages":12,"fetched_at":"2026-10-17 20:00:30+00","source_url":"https://cdn.shriramlife.com/slic-kalam/files/2025-08/shriram_life_assured_savings_plan_v05_pol_doc.pdf?VersionId=VtwwMG.hsTU_gpTsx1MgLuPtiNSYEtF2","url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16028"},{"kind":"prospectus","label":"Prospectus - Download Assured Savings Plan","pages":13,"fetched_at":"2026-10-17 20:00:28+00","source_url":"https://cdn.shriramlife.com/slic-kalam/files/2025-07/prospectus_0.pdf?VersionId=PXQx203LbnaKBCYCwqSjZ4_WUg2wvqYt","url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16027"},{"kind":"brochure","label":"Presentation -Dlownload Assured Savings Plan","pages":21,"fetched_at":"2026-10-17 20:00:20+00","source_url":"https://cdn.shriramlife.com/slic-kalam/files/2025-07/product_presentation_0.pdf?VersionId=i74N8WTM8NyCOjdLCrm2iQx7UryggL70","url":"https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05/document/16026"}],"versions":[{"uin":"128N089V04","version":null,"approved_on":null},{"uin":"128N089V05","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Shriram Life Insurance official website","url":"https://www.shriramlife.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claim centre","url":"https://www.shriramlife.com/services/claim-centre","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://www.shriramlife.com/services/grievance-redressal","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"renew","kind":"insurer","name":"Renewal payment options","url":"https://www.shriramlife.com/services/renewal-payment-options-online","note":null}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Shriram Life Assured Savings Plan (UIN 128N089V05), IndiaInsurances, https://indiainsurances.com/policy/shriram-life-insurance/shriram-life-assured-savings-plan-128n089v05"}