Shriram Life unveils Sunishchit Laabh, a non-participating savings plan

Shriram Life Insurance has launched Shriram Life Sunishchit Laabh, a non-participating individual savings plan that guarantees high returns of up to 668 per cent of the total premium paid. The plan offers flexible entry options for individuals aged from 30 days to 60 years, with 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, including 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 of 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 payout modes to monthly, quarterly, half-yearly, or yearly to suit their financial needs.

 

Casparus J.H. Kromhout, managing director and chief executive officer, Shriram Life Insurance, said: “Shriram Life Sunishchit Laabh highlights our dedication to empowering 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.

 

In the unfortunate event of the policyholder's death during the policy term, future premiums will be waived, and the nominees or beneficiaries will receive the death sum assured in equal monthly instalments starting from the end of the month of death until the end of the policy term. Additionally, they will also receive the scheduled income payouts after the policy matures.