Home
×

Shriram New Akshay Nidhi Plan
Shriram New Akshay Nidhi Plan




ADD
Compare

Shriram New Akshay Nidhi Benefits

1 Loan And Benefits
1.1 Loan
59% Whole Life Insurance Plans Life insurance plans have it !
1.2 Surrender
94% Whole Life Insurance Plans Life insurance plans have it !
1.2.1 Surrender Value
Depends on the policy year, policy term and the premium paid
1.3 Benefits
1.3.1 Tax
98% Whole Life Insurance Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
Tax benefits under this plan are available as per the provisions of the Income tax Act.
1.3.3 Service Tax
Applicable
1.3.4 Maturity
89% Whole Life Insurance Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
Accrued reversionary bonuses + Terminal bonus
1.3.6 Death
99% Whole Life Insurance Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
Sum assured on death + Accrued reversionary bonus + Terminal bonus
1.3.8 Annuity
No Whole Life Insurance Plans Life insurance plans has it !
1.4 Bonus
Interim Bonus, Reversionary Bonus, Terminal Bonus

Shriram New Akshay Nidhi Loan

Shriram New Akshay Nidhi loan is an amount that is borrowed from the insurance company which has to be returned with interest within fixed time. Policy loan, surrender value, bonus, benefits are included under Shriram New Akshay Nidhi Plan loan and benefits. Shriram New Akshay Nidhi Plan Terms and Conditions for policy loan are specified by the company. Loan is available under this policy. If any insurance policy provides loan then this amount will be some percentage of surrender value.

Shriram New Akshay Nidhi Surrender

Shriram New Akshay Nidhi surrender value is an amount which you receive from the insurance company in case you want to terminate your policy before maturity. Usually for a regular premium policy, you can get surrender value if you have paid Shriram New Akshay Nidhi Plan Premium for three continuous years. Surrender value is also known as cash surrender value or cash value.

Shriram New Akshay Nidhi Plan Bonus

Shriram New Akshay Nidhi Plan bonus is an additional or extra sum given to a policyholder. When an insurance company makes profits then it shares the profits in the form of bonus with the life insured. Insurance policy bonus includes terminal bonus, reversionary bonus, interim bonus etc. Bonus, if available, can also be considered as one of the Shriram New Akshay Nidhi Plan benefits. Bonus provided under this plan: Interim Bonus, Reversionary Bonus and Terminal Bonus.

Reversionary bonus is the one that is based on performance of the insurance policy. You'll get terminal bonus upon termination i.e. maturity of the policy. Dates of terminal bonus are usually announced by the insurance company. If the maturity date of your policy lies within two terminal bonus dates then in its stead, you get an interim bonus.

Benefits Under Shriram New Akshay Nidhi

Benefits under Shriram New Akshay Nidhi include tax benefit, death benefit, maturity benefit and annuity benefit. Tax is applicable for this plan. Maturity can be availed under this policy. This insurance plan assures Death. Annuity is not applicable for this plan.

  • Tax benefit amount: Tax benefits under this plan are available as per the provisions of the Income tax Act.
  • Maturity benefit amount: Accrued reversionary bonuses + Terminal bonus
  • Death benefit amount: Sum assured on death + Accrued reversionary bonus + Terminal bonus

If Shriram New Akshay Nidhi Plan offers tax benefit, then the premiums you pay are eligible for deduction on tax returns and so is a part of the money you get on maturity of the policy. Maturity benefit is the amount of money you get at end of the policy term. Because of death benefit, family of the policy holder receives all the returns in the event of demise of the policy holder. With annuity benefit, you have an opportunity to secure your life financially after retirement. Annuity provides a regular source of income after retirement.

Let Others Know
×