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Shriram Secure Investment Plan
Shriram Secure Investment Plan

BSLI Wealth Secure Plan
BSLI Wealth Secure Plan



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Shriram Secure Investment Plan
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BSLI Wealth Secure Plan

Shriram Secure Investment Plan and Wealth Secure

1 Details
1.1 Insurance Provider
Shriram Life Insurance Company
Birla Sun Life Insurance
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
51.21%
Rank: 23 (Overall)
87.10%
Rank: 6 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
67.00%
Rank: 15 (Overall)
96.00%
Rank: 2 (Overall)
Edelweiss Tokio My Life Plus
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
67.69 %
Rank: 23 (Overall)
87.76 %
Rank: 15 (Overall)
DHFL Pramerica Family Income
1.3 Type
Whole Life Insurance Plan
Whole Life Insurance Plan
1.4 Status
In-force
In-force
1.5 Online
29% Whole Life Insurance Plans Life insurance plans have it !
29% Whole Life Insurance Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
0 years
Rank: N/A (Overall)
18 years
Rank: 17 (Overall)
Bajaj Allianz Cash Assure
ADD ⊕
1.6.2 Max Entry Age
ICICI Pru Immed..
60 years
Rank: 18 (Overall)
60 years
Rank: 18 (Overall)
Reliance Classic Plan 2
ADD ⊕
1.6.3 Min Vesting Age
Canara HSBC Sma..
5 years
Rank: 1 (Overall)
Not Available
Rank: N/A (Overall)
Shriram Secure Investment Plan
ADD ⊕
1.6.4 Max Vesting Age
Bharti AXA Life..
65 years
Rank: 20 (Overall)
Not Available
Rank: N/A (Overall)
LIC New Children Money Back Plan
ADD ⊕
1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
5 years
Rank: 3 (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.7.2 Max Term
TATA AIA Fortun..
10 years
Rank: 33 (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life New Group Unit Linked Plan
ADD ⊕
1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
₹ 49600
Rank: 16 (Overall)
Not Available
Rank: N/A (Overall)
ICICI Pru Immediate Annuity Plan
1.8.2 Min Sum Assured (Variable)
Not Applicable
The higher of 10 or (70 –Age at Entry)/2, for entry ages < 45 yrs or The higher of 7 or (70 –Age at Entry)/4, for entry ages >= 45 yrs
1.8.3 Max Sum Assured
IDBI Federal Lo..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Kotak Gratuity Plus Group Plan
1.8.4 Max Sum Assured (Variable)
No Limit
No Limit
1.9 Group Plan
No Whole Life Insurance Plans Life insurance plans has it !
No Whole Life Insurance Plans Life insurance plans has it !
1.9.1 Group Type
Not Applicable
Not Applicable
1.9.2 NEE Size
Metlife Group T..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan
1.9.3 EE Size
Metlife Complet..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Group Term Insurance
2 Premium
2.1 Minimum Premium
2.1.1 Min Premium
Kotak Preferred..
₹ 40000
Rank: 65 (Overall)
₹ 15000
Rank: 49 (Overall)
HDFC Life Group Credit Protect Insurance Plan
2.1.2 Min Premium (Variable)
Not Applicable
Not Applicable
2.2 Maximum Premium
2.2.1 Max Premium
Metlife Traditi..
Not Available
Rank: N/A (Overall)
Not Available
Rank: N/A (Overall)
HDFC Life Pradhan Mantri Jeevan Jyoti Bima Yojana
2.2.2 Max Premium (Variable)
No Limit
No Limit
2.3 Payment Options
Single Pay
Limited Pay, Regular Pay
2.4 Regular Modes
Not Applicable
Annual, Monthly, Quarterly, Semi-Annual
2.5 Top Up
Not Allowed
Allowed
2.5.1 Top Up Value
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
₹ 5000
Rank: 4 (Overall)
Pension Plus
3 Loan And Benefits
3.1 Loan
59% Whole Life Insurance Plans Life insurance plans have it !
59% Whole Life Insurance Plans Life insurance plans have it !
3.2 Surrender
94% Whole Life Insurance Plans Life insurance plans have it !
94% Whole Life Insurance Plans Life insurance plans have it !
3.2.1 Surrender Value
Depends on the policy year, policy term and the premium paid
Not Available
3.3 Benefits
3.3.1 Tax
98% Whole Life Insurance Plans Life insurance plans have it !
98% Whole Life Insurance Plans Life insurance plans have it !
3.3.2 Tax Benefit Amount
Tax benefits under this plan are available as per the provisions of the Income tax Act.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C.
3.3.3 Service Tax
Applicable
Applicable
3.3.4 Maturity
89% Whole Life Insurance Plans Life insurance plans have it !
89% Whole Life Insurance Plans Life insurance plans have it !
3.3.5 Maturity Benefit Amount
Guaranteed maturity benefit factor X Single premium
Not Applicable
3.3.6 Death
99% Whole Life Insurance Plans Life insurance plans have it !
99% Whole Life Insurance Plans Life insurance plans have it !
3.3.7 Death Benefit Amount
Sum assured on death shall be payable
In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever is higher as Death Benefit.
3.3.8 Annuity
No Whole Life Insurance Plans Life insurance plans has it !
No Whole Life Insurance Plans Life insurance plans has it !
3.4 Bonus
Not Available
Not Available
4 Provisions
4.1 Renewal
76% Whole Life Insurance Plans Life insurance plans have it !
76% Whole Life Insurance Plans Life insurance plans have it !
4.1.1 Renewal Period
Bajaj Allianz R..
2 years
Rank: 3 (Overall)
2 years
Rank: 3 (Overall)
HDFC Life Group Unit Linked Pension Plan
4.2 Riders
4.2.1 Accidental Death
51% Whole Life Insurance Plans Life insurance plans have it !
51% Whole Life Insurance Plans Life insurance plans have it !
4.2.2 ADBR Description
Not Applicable
In the event of death due to an accident, your nominee will receive the chosen Rider Sum Assured up to a maximum of Rs. 50,00,000.
4.2.3 Critical Illness
29% Whole Life Insurance Plans Life insurance plans have it !
29% Whole Life Insurance Plans Life insurance plans have it !
4.2.4 CI Description
Not Applicable
On diagnosis of any of the four illnesses - Heart Attack, Cancer, Major Organ Transplant and Stroke, you will receive upto 100% of the Rider Sum Assured.
4.2.5 Term Rider
11% Whole Life Insurance Plans Life insurance plans have it !
11% Whole Life Insurance Plans Life insurance plans have it !
4.2.6 TR Description
Not Applicable
Not Applicable
4.2.7 Permanent Disability
30% Whole Life Insurance Plans Life insurance plans have it !
30% Whole Life Insurance Plans Life insurance plans have it !
4.2.8 PD Description
Not Applicable
In the event of disability due to an accident, you will receive a fixed percentage of the Rider Sum Assured, depending on the type of injury.
5 Terms and Conditions
5.1 Grace Period
LIC Jeevan Raks..
Not Available
Rank: N/A (Overall)
30 Days
Rank: 1 (Overall)
HDFC Group Term Insurance
ADD ⊕
5.2 Free Look Period
Mera Term Plan
15 Days
Rank: 2 (Overall)
15 Days
Rank: 2 (Overall)
Reliance Online Term
ADD ⊕
5.3 Exclusion On Base Policy
Suicide Clause
Suicide Clause
5.4 Charges
5.4.1 Premium Allocation
4% Whole Life Insurance Plans Life insurance plans have it !
4% Whole Life Insurance Plans Life insurance plans have it !
5.4.2 Premium Allocation Charge
Not Available
Not Available
5.4.3 Policy Administration
2% Whole Life Insurance Plans Life insurance plans have it !
2% Whole Life Insurance Plans Life insurance plans have it !
5.4.4 Policy Administration Charge
Not Available
20
5.4.5 Fund Management
2% Whole Life Insurance Plans Life insurance plans have it !
2% Whole Life Insurance Plans Life insurance plans have it !
5.4.6 Fund Management Charge
Not Available
Not Available
5.4.7 Mortality
6% Whole Life Insurance Plans Life insurance plans have it !
6% Whole Life Insurance Plans Life insurance plans have it !
5.4.8 Mortality Charge
Not Available
Not Available
5.4.9 Switching
Not Allowed
Allowed
5.4.10 Switching Charge
Reliance Group ..
Not Available
Rank: N/A (Overall)
₹ 50
Rank: 4 (Overall)
SBI Life Kalyan ULIP Plus
5.4.11 Partial Withdrawal
Not Allowed
Allowed
5.4.12 Partial Withdrawal Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
₹ 50
Rank: 2 (Overall)
Aviva Live Smart Plan
5.4.13 Premium Redirection
Not Allowed
Allowed
5.4.14 Premium Redirection Charge
Kotak Invest Ma..
Not Available
Rank: N/A (Overall)
₹ 50
Rank: 2 (Overall)
SBI Life Kalyan ULIP Plus
5.5 Group Members
5.5.1 Addition
Not Allowed
Not Allowed
5.5.2 Deletion
Not Allowed
Not Allowed
5.6 Medical Examination
78% Whole Life Insurance Plans Life insurance plans have it !
78% Whole Life Insurance Plans Life insurance plans have it !

Compare Shriram Secure Investment Plan and Wealth Secure

Compare Shriram Secure Investment Plan and Wealth Secure on basis of policy details, premium details, eligibility etc. Shriram Secure Investment Plan is provided by Shriram Life Insurance Company. Wealth Secure is provided by Birla Sun Life Insurance. Both these policies come under Whole Life Insurance Plans. Online buying option is not available for first insurance policy and online buying option is not available for second policy.

Minimum entry age for Shriram Secure Investment Plan is 0 years and maximum entry age for the same policy is 60 years. Similarly for BSLI Wealth Secure Plan, minimum entry age is 18 years and maximum entry age is 60 years. Depending upon the selected plan, the premium amount and payment options may be different. Premium is the amount you pay to the insurance company in exchange of life cover. Premium payment option/s for former policy: Single Pay and premium payment option/s for latter policy: Limited Pay and Regular Pay. In regular pay mode, you are supposed to pay this money at fixed intervals throughout the policy term whereas for limited pay mode, you are supposed to pay money only for a limited number of years.

Benefits of Shriram Secure Investment Plan and Wealth Secure

Benefits of Shriram Secure Investment Plan and Wealth Secure consist of maturity benefit, tax benefit, death benefit etc. Some Shriram Secure Investment Plan and BSLI Wealth Secure Plan Provisions are made for a policy holder. Loan is one such provision. For first plan, a person can apply for loan and second plan does not provide loan facility. Following are the benefits under these insurance policies.

For Shriram Secure Investment Plan:

  • Tax benefit: Available.
  • Maturity benefit: Available.
  • Death benefit: Available.

For Shriram Secure Investment Plan:

  • Tax benefit: Available.
  • Maturity benefit: Not Available.
  • Death benefit: Available.

If the policy has tax benefit, it means that the premium you pay for the policy is eligible for deduction in tax returns along with a part of money you receive on maturity of the policy. If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family. Even bonus is added to this money for some policies. Thus his family can stay financially secure. Maturity benefit is the money you get at the end of the policy term. This is the total of all the premiums you have paid along with applicable bonus.

Provisions under Shriram Secure Investment Plan and Wealth Secure

Provisions under Shriram Secure Investment Plan and Wealth Secure mainly include policy renewal and different types of riders. For Shriram Secure Investment Plan, policy renewal is allowed Policy renewal is allowed for BSLI Wealth Secure Plan. Different riders such as accidental death benefit rider, critical illness rider etc. are provided for an insurance policy. Riders are special clauses in an insurance policy that cover cases when you won't be able to pay premium. Accidental death benefit rider is not available for first policy and it is available for second policy.Critical illness rider is not available for former policy and it is available for second policy.Term rider is not available for first insurance policy and this rider is not available for second policy.

Terms and Conditions For Shriram Secure Investment Plan and Wealth Secure

Terms and conditions for Shriram Secure Investment Plan and Wealth Secure includes the grace period, free look period, exclusions, riders etc. for both the policies. Grace period can be utilized for paying unpaid premiums. Grace period of plan 1 is Not Available whereas for plan 2, it is 30 Days. Free look period for these insurance plans is 15 Days.

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