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  • Shriram Life Unveils Wealth Pro ULIP at Rs. 1000 Per Month

Shriram Life Unveils Wealth Pro ULIP at Rs. 1000 Per Month

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Hyderabad, Telangana, India

  • ULIP designed to attract the young as well as older generation of policyholders
  • Low ticket ULIP offering minimum premiums at Rs. 1000 per month & Rs.12,000 annually
  • Minimum age of entry is 30 days; anyone under 65 years old can start this ULIP
  • Loyalty bonus offered as percentage of fund value than percentage of premium payable
  • Return of premium allocation charges available, i.e., zero charges by the end of 10th year of policy

Shriram Life Insurance has launched a new non-participating, unit linked policy (ULIP) called Shriram Life Wealth Pro. The ULIP is designed to attract both young and older generation of policyholders into the safety net of insurance as well as to give them an opportunity to generate wealth at lower premium. The policy term is from 10 years to 30 years.

Policyholders who are older than 30 days can opt for this policy where the minimum investment amount is Rs. 1000 per month. One may choose the policy with a maximum maturity age of up to 75 years with any of the two death benefit options: Option 1 provides a death benefit of sum assured plus total base premium fund value and top up benefits if any. Option 2 provides either a death benefit or sum assured or total base premium fund value plus top up benefits whichever is the higher amount.

The policy offers the flexibility to choose the premium amount, mode, and premium payment term. One can also reduce the premium up to 50% if premiums for the first five years are paid regularly and other conditions are met. The policyholder has the flexibility to increase/decrease the policy term, premium paying term, decrease sum assured and premium. One can choose the policy term to ensure their maturity benefits are aligned with their life goals.

Speaking on the product, Casparus J H Kromhout, MD & CEO, Shriram Life Insurance said, “Post COVID, there has been a greater awareness about the need for insurance protection as well as a marked interest in wealth generation among young people. Shriram Life Wealth Pro is a product that allows you to grow your wealth at any age with whatever minimum amount you have while protecting you against the vagaries of life. This is also a much-desired product among retirees who are looking for avenues to invest in as well as stay protected during their sunset years.

Shriram Wealth Pro offers policyholders the chance to invest their premiums in multiple funds through different investment strategies. The policy offers unlimited switches, premium redirection, and Auto Transfer Option (ATO) free of cost. Some of the fund options include Maximus, Accelerator, Tyaseer, Preserver, Defender, Balancer etc. On maturity, the accumulated fund value will be paid to policyholders.

Benefits & Tax

Unlike a mutual fund investment where gains attract tax, investments made in ULIPs are eligible for tax exemption under the overall limit offered under Section 80C. Withdrawals and maturity benefits are also tax free in accordance with Sec 10(10D) provided premium paid is less than 10% of sum assured and is below Rs. 2.5 lakhs per annum. In case of sudden death, the nominee or beneficiary will receive death benefit along with accumulated fund value.

Key features of the Shriram Wealth Pro:
Customized life cover: 2 cover options to choose from and choice of cover level within each cover option
Wealth Boosters guaranteed every 5 years in accordance with policy guidelines
Return of Premium Allocation charges
Option to increase/decrease policy term, premium payment term, decrease sum assured, and premium
Settlement option available with Maturity/Death benefit to tackle market volatility during redemption
Additional protection through Riders





Eligibility Criteria Limits
Age at Entry Minimum: 30 days (age last birthday)


Option I: 55 years for policy term 20 and less; 50 years for policy term above 15

Option II: 65 years for all policy terms

Maximum Age at Maturity 75 years (age last birthday)
Policy Term 10 to 30 years (multiples of 1 year)
Premium Minimum Minimum: Annual – Rs. 12,000 Half Yearly – Rs. 6000 Quarterly – Rs. 3,000 Monthly – Rs. 1,000

Maximum: No limit

Sum Assured Minimum: 7 X Annualized Premium

Maximum: 10 X Annualized Premium subj

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