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Shriram New Akshay Nidhi Plan

What is the Plan all About?

Shriram New Akshay Nidhi Plan helps fulfill your financial goals such as children’s education/marriage, planning post-retirement life, etc. This plan provides periodical survival benefits, in addition to maturity benefit and life cover.


What are the Key Features?

  • Periodical survival benefits
  • Life cover payable in case of unfortunate death
  • Get reversionary bonuses
  • Option to pay premiums in advance at discount
  • Enhance protection through riders
  • Rebate on opting high sum assured
  • Get tax benefits

What are the Plan Benefits?

Death Benefit

    In the event of death of the life assured during the term of the policy, Sum Assured on Death plus accrued Reversionary bonuses and Terminal bonus is payable to the nominee. Sum Assured on Death is higher of Basic Sum Assured or multiple of annual premium. Where multiple is 10 times when age at entry is less than 45 years and it is 7 times when age at entry is 45 years & above.

    The total death benefit is subject to the minimum of 105% of the total premiums paid, as on the date of death.

Maturity Benefit

    On survival of the life assured till maturity of the policy, Accrued Reversionary bonuses plus Terminal bonus is payable.

Survival Benefit

    On survival of the life assured till end of every 5th year, periodical payments as a percentage of basic sum assured is payable.

    Shriram New Akshay Nidhi Plan


    Simple Reversionary Bonuses plus interim bonuses attached to the policy. Reversionary Bonus may vary and it depends on actual experience and expected economic scenario. Terminal Bonus is payable on maturity or death and it depends on actual experience and present economic condition.

Loan Benefit

    The loan amount that can be availed under this policy is up to 90% of the Surrender Value.

Surrender Value

    This policy acquires Surrender Value after paying at least three full policy years’ premium. The Guaranteed Surrender Value is expressed as a percentage of premiums paid and this policy is also eligible for Non-Guaranteed Special Surrender Value. The Surrender Value is paid after deducting the survival benefits, if already paid.

Tax Benefit

    You can avail tax benefits for premiums paid under section 80C and policy benefits under section 10 (10D) of the Income Tax Act, subject to change in tax laws.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 30 Days 60 Years
Age at Maturity 18 Years 75 Years
Policy Tenure 15/20 Years 25 Years
Premium Paying Term Equal To Policy Tenure -
Premium Paying Mode Annually, Semi Annually, Quarterly & Monthly -
Sum Assured Rs 1.5 Lacs No Limit (subject To Underwriting)
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days -
Plan Type Offline -

Is any Rider Available with this Plan?

Following riders can be opted, on payment of additional rider premium.

  • Accident Benefit Rider
  • Family Income Benefit Rider
  • Shriram Critical Illness Cover Rider
  • Shriram Extra Insurance Cover Rider

How the Plan Works?

Raman at 35 years, wants to buy Shriram New Akshay Nidhi Plan to get regular money backs along with life protection. He opts the plan with the policy term of 15 years and sum assured of Rs 1.5 Lacs.

Scenario A: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives Accrued Reversionary bonuses plus Terminal bonus. This maturity benefit helps meet various financial objectives.

Scenario B: Raman dies during the Term of the Policy

In the event of demise of Mr. Raman during the policy term, Rs 1.5 Lacs plus accrued Reversionary bonuses and Terminal bonus is payable to the nominee.