Shriram Fortune Builder Plan
Shriram Fortune Builder Plan is a single premium unit linked insurance plan (ULIP) ideal for individuals who prefer to invest a lump sum amount and benefit from long-term wealth creation along with life insurance cover.
Key Features of Shriram Fortune Builder Plan
- Pay a single premium with no maximum limit; minimum premium is Rs. 25,000.
- Choose policy terms of 10, 15, or 20 years based on your financial goals.
- Minimum sum assured is 1.25 times the single premium for age below 45, and 1.10 times for age 45 and above.
- Offers cooling-off period to return policy if unsatisfied with terms.
- No loan facility available against this policy.
- You can reduce the sum assured during the policy tenure.
- Add optional riders for enhanced protection like accidental death or critical illness.
- Enables partial withdrawals with a nominal charge per withdrawal (Rs. 100).
- Policy can be surrendered anytime with no surrender fees.
- Top-up premium option available to invest surplus funds during the policy tenure.
- Comes with an Auto Transfer Option (ATO) to balance investments and reduce equity risks.
- Transparency in premium payments with real-time investment status.
- Unlimited fund switches allowed to adjust your portfolio per market conditions.
Benefits of Shriram Fortune Builder Plan
- Provides a death benefit to nominees, which is the higher of sum assured or fund value plus any additional sum assured.
- On maturity, you receive the total fund value, including top-up value if any.
- Flexible settlement options allow you to continue investing even after maturity.
- Get tax benefits on premiums paid under Section 80C and tax-free maturity and death benefits under Section 10(10D).
- Offers investment diversification across multiple asset classes and fund options to suit risk appetite.
Eligibility Criteria for Shriram Fortune Builder Plan
- Entry Age: 0 to 65 years (age last birthday).
- Maximum Maturity Age: 75 years.
- Premium Payment Term: Single premium only.
- Minimum Premium: Rs. 25,000.
- No maximum premium limit, subject to underwriting.
- Suitable for individuals with irregular cash flow or those who prefer lump sum investment.
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