Take control of your financial journey with a ULIP that protects your loved ones and helps you build lasting wealth.
Disclaimer : In This Policy, the Investment Risk In The Investment Portfolio Is Borne By the Policyholder. The Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of fifth year.
Shriram Life Wealth Pro Plan (ULIP)
Shriram Life Wealth Pro (UIN: 128L096V01) is a Unit Linked Insurance Plan (ULIP) that combines the dual benefit of life insurance protection and market-linked investment growth. This plan offers flexibility to invest, protect your family, and achieve your financial goals—all in a transparent, easy-to-manage plan.
Why Choose Shriram Life Wealth Pro?
Shriram Life Wealth Pro is designed for individuals seeking a powerful growth-oriented ULIP. It empowers you to create wealth while safeguarding your family’s future, offering customisable coverage and investment options to match your evolving needs.
Features & Benefits
Two benefits, one policy
Enjoy peace of mind with life insurance while your investments grow in market-linked funds.
Unlimited Free Fund Switching
Adjust your investment strategy anytime at no extra cost, and a free auto transfer option (ATO).
Easy Access & Partial Withdrawals
Access your funds through partial withdrawals after the lock-in period, ensuring liquidity for life’s milestones.
Coverage that puts you first
Tailored protection: 2 unique options, each with customisable coverage, so that you get to choose what suits you.
Lock-in Period & Liquidity
ULIPs like Shriram Life Wealth Pro have a standard 5-year lock-in period. During this time, your investments are secured, ensuring disciplined savings. After the lock-in, you can make partial withdrawals to address emergencies or important life events, providing both liquidity and peace of mind.
How to Apply for Shriram Life Wealth Pro
Step 01
Fill out the online application form with your details.Step 02
Choose your coverage, policy term, and investment funds.Step 03
Upload required documents and complete payment.Step 04
Receive instant confirmation and policy issuance.
How to Make a Claim
- Step 01Visit our claims portal or contact customer care.
- Step 02Submit the required documents (claim form, policy documents, etc.).
- Step 03Our claims team will review and process your request.
- Step 04Receive the claim payout directly to your nominee’s account.
Who is eligible?
Minimum: 30 days (age last birthday)
Maximum: Option I: 55 years for policy term 15 and less; 50 years for policy term above 15
Option II: 65 years for all policy terms
Up to 75 years
10 – 30 years
Yearly, Half-Yearly, Quarterly, Monthly
Coverage Offered
What is Covered?
- Death benefit: Lump sum or instalment payout to nominee
- Maturity benefit: Fund value at policy end
- Partial withdrawals after lock-in
What is Not Covered?
- Death due to exclusions as per policy terms (e.g., suicide within first year)
- Non-payment of premiums leading to policy lapse
Applicable Charges
| Charge | Method of Appropriation |
|---|---|
| Premium Allocation Charges | This charge depends on premium size and will apply only on premiums of first 5 years. This charge will be deducted when premium is received and the balance premium shall be allocated as units into the unit fund(s) chosen proportionately. This charge is guaranteed throughout the term of the policy |
| Policy Administration Charges | This charge is expressed as a percentage of annualized premium. This charge will be deducted at the start of each policy month for first 10 years proportionately from the unit funds by cancelling appropriate number of units and nil thereafter |
| Mortality Charges | Mortality charges will be charged on Sum at Risk at the beginning of each policy month by cancelling requisite number of units from the policyholder’s unit fund till the policy becomes a claim (maturity or death) or discontinued or surrendered. Sum at risk is mentioned below. Sum at Risk = Death benefit minus total fund value |
| Fund Management Charges | An Investment management charge as detailed below will be charged by adjustment of the Net Asset Values of the units of the fund on a daily basis |
| Discontinuance Charges | Deducted from the fund value upon policy discontinuance. |
| Top-up Charges | Will be levied on top-up premium paid |
| Partial Withdrawal Charges | Partial withdrawals are allowed only after fifth policy anniversary. Only one partial withdrawal is allowed at free of charge during the policy term. For every subsequent partial withdrawal, a partial withdrawal charge of Rs.250/- will be levied on the unit fund at the time of partial withdrawal. The partial withdrawal amount should not exceed 20% of the fund value in a year |
| Miscellaneous Charges | Deducted by cancelling units from the fund when alterations are made. |
| Switching Charges | No charges applicable (Free). |
Quantum of Charges
Method of Appropriation for Premium Allocation Charge
| Year | All premium bands |
|---|---|
| 1 | 12% of premium |
| 2 to 5 | 4% of premium |
| 6+ | Nil |
For top-up premiums: 2% of top-up premium
Method of Appropriation for Policy Administration Charge
Policy Administration charges per month
| Year | Annual Premium <30,000 | Annual Premium >=30,000 |
|---|---|---|
| 1 to 5 | 0.10% | 0.10% |
| 6 to 10 | 0.36% | 0.29% |
| 11+ | Nil | Nil |
The policy administration charges are increased by 5% p.a. on every policy anniversary. The policy administration charge shall not exceed Rs. 500 per month Method of Appropriation for Mortality Charges: Based on Sum at Risk = Death Benefit – Fund Value Varies by age/gender (rates not specified)
Method of Appropriation for Fund Management Charges
| Name of the Fund | FMC p.a |
|---|---|
| Preserver, Defender | 1.25% |
| Balancer, Maximus, Accelerator & Tyaseer | 1.35% |
| Discontinued policy fund | 0.50% |
| Switching Charges | Nil |
| Premium Redirection Charges | Nil |
| Alteration Charge | Nil |
| Top-up Charge | 2% of the top-up premium will be levied |
Method of Appropriation for Discontinuance Charges
| Where the policy is discontinued during the policy year | Discontinuance Charges for the policies having annualized premium up to Rs. 50,000 | Discontinuance Charges for the policies having annualized premium above Rs. 50,000 |
|---|---|---|
| 1 | Lower of 20% *(AP or FV) subject to a maximum of Rs. 3000 | Lower of 6% *(AP or FV) subject to a maximum of Rs. 6000 |
| 2 | Lower of 15% *(AP or FV) subject to a maximum of Rs. 2000 | Lower of 4% *(AP or FV) subject to a maximum of Rs. 5000 |
| 3 | Lower of 10% *(AP or FV) subject to a maximum of Rs. 1500 | Lower of 3% *(AP or FV) subject to a maximum of Rs. 4000 |
| 4 | Lower of 5% *(AP or FV) subject to a maximum of Rs. 1000 | Lower of 2% *(AP or FV) subject to a maximum of Rs. 2000 |
| 5 and onwards | Nil | Nil |
A.P. – Annualized Premium, F.V. – Fund Value
No discontinuance charges will be imposed on Top up premiums.
Investment Details
| Fund Name | Equity Allocation | Debt (Govt + Corporate) Allocation | Money Market Allocation Liquid/Cash Allocation |
|---|---|---|---|
| Preserver (ULIF01507/01/10PRSERVRFND128) | - | 80 - 100% | 0 to 20% |
| Balancer (ULIF01707/01/10BALANCRFND128) | 40 - 60% | 20 - 60% | 0 - 20% |
| Maximus (ULIF00301/07/06MAXIMUSFND128) | 0 - 70% | 30 - 100% | 0 - 20% |
| Tyaseer (ULIF01401/09/09TYASEERFND128) | 90 - 100% | - | 0 - 10% |
| Accelerator (ULIF00401/03/07ACCELRATOR128) | 90 - 100% | - | 0 - 10% |
Download Documents
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FAQs
What is the Shriram Wealth Pro Plan ULIP?
Shriram Life Wealth Pro is a Unit Linked Insurance Plan (ULIP) that combines life insurance protection with market-linked investment opportunities. It allows you to build wealth for your goals while ensuring your loved ones are financially secure in your absence.
What is the guaranteed Shriram Wealth Pro Plan?
Shriram Wealth Pro offers guaranteed wealth boosters every five years (starting from the 10th year), provided all premiums are paid. Additionally, it returns premium allocation charges, enhancing your fund value over time. These guarantees are built into the plan for long-term investors.
Who bears the investment risk?
In Shriram Wealth Pro, the investment risk in the investment portfolio is borne entirely by the policyholder. The value of your investments depends on the performance of the chosen market-linked funds.
Is there a lock-in period in Shriram Wealth Pro Plan ULIP?
Yes, there is a mandatory five-year lock-in period. No partial or full withdrawals are allowed during this time. After five years, you can access your funds through partial withdrawals if needed.
What are the key benefits of the Shriram Wealth Pro Plan ULIP?
Key benefits include dual protection and investment, unlimited free fund switching, premium redirection, guaranteed wealth boosters, return of premium allocation charges, flexible coverage options, and the ability to customise your policy term and premium payment term.
What investment options are available?
You can choose from multiple funds and investment strategies, including equity, debt, and balanced funds. Unlimited fund switching, premium redirection, and an auto transfer option (ATO) are available free of cost, letting you adapt your portfolio to your changing goals.
What is the maturity benefit of the Shriram Wealth Pro Plan ULIP?
At maturity, you receive the accumulated fund value based on the performance of your chosen funds. You may also opt for a settlement option to receive the maturity benefit in instalments, helping manage market volatility at redemption.
What is the death benefit in Shriram Wealth Pro Plan ULIP?
In the unfortunate event of death during the policy term, your nominee receives the higher of the sum assured or fund value, plus any top-up sum assured, ensuring comprehensive financial security for your family.
What are mortality charges in Shriram Wealth Pro Plan ULIP?
Mortality charges are the cost of life insurance cover under the policy. These charges are deducted monthly from your fund value and depend on your age, sum assured, and policy specifics. They are transparently disclosed in your policy document.
Can I switch funds in the Shriram Wealth Pro Plan ULIP?
Yes, you can switch between available funds at any time, free of cost. This allows you to adapt your investment strategy based on market conditions or your changing financial goals.
Can I change my future premiums?
You can redirect future premiums to different funds of your choice using the premium redirection facility, available free of cost. However, increasing or decreasing the premium amount is subject to policy terms and conditions.
Can I make partial withdrawals?
Yes, after the five-year lock-in period, you can make partial withdrawals from your fund value to meet important life needs. This provides liquidity while keeping your long-term savings intact.
Disclaimer
In this policy, the investment risk in investment portfolio is borne by the policyholder. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS: IRDAI or its officials do not engage in activities such as selling insurance policies or financial products, announcing bonuses, or investment of premiums. Members of the public who receive such calls are advised to lodge a police complaint. Wealth Boosters guaranteed starts from 10th year provided all premiums are duly paid. If the policy is in discontinued or paid-up state, these Wealth Boosters shall not be credited to the policy. If the policy is subsequently revived, then all the Wealth Boosters due shall be credited. The premium shall be adjusted on the due date, even if paid in advance. In this policy, the investment risk in the investment portfolio is borne by the policyholder. The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects, or returns. Please know the associated risks and the applicable charges from your insurance agent or the intermediary or the policy document issued by the insurance company. The returns on Unit Linked Insurance Plans (ULIP) are subject to market risks, and the actual value of the investments may vary depending on factors such as fund performance, market fluctuations, policy charges and investment decisions that is owned by policyholder. Past performance may not be indicative of future results. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale. Shriram Life Wealth Pro plan (UIN: 128L096V01) is a Unit-Linked Non-Participating Life Insurance Plan. The premium paid in unit linked plans is subject to investment risks associated with capital market and publicly available index. The NAVs of units may go up or down based on the performance of fund and factors influencing the capital market performance. Policy Charges and Impact on Returns: ULIPs are subject to various charges such as mortality charges, fund management fees, and policy administration charges. Applicable taxes, cesses, and levies as imposed by the Government from time to time will be deducted from the premiums received or from the funds, as applicable. Unit Linked Insurance Products (ULIPs) are different from traditional insurance products and are subject to market risks. Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.
IRDAI Regn No: 128
CIN No : U66010TG2005PLC045616 of the Company
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