Shri Suraksha Plan

Name:  Shri Suraksha

Type of policy: Term Insurance

For buying policy: No

Term insurance is a fantastic product that every single family needs to have, for its earning member(s). It is a pure life insurance policy that gives your family a cover in case of an eventuality to the bread winner. A single term policy of adequate cover will suffice for entire insurance needs.

Shri Suraksha is an increasing term plan where the basic sum assured is always Rs 1,00,000 and it keeps increasing by Rs 5,000 every year till it reaches Rs 2,00,000 and is then constant. The policy would continue till the life insured is 60 years of age. Thus, if the life insured dies within the policy tenure, the sum assured would be payable to the nominee but there is no maturity benefit.

Additional benefits like Accidental death cover and Accidental Total and Permanent cover are offered with this policy. But we recommend a standalone critical illness cover as that gives wider range of cover in terms of number of illnesses, renewability and comes at lower premium. Personal accident cover is really an additional expense to be avoided as it covers your life which is already covered by the term policy.

We typically recommend an insurance cover of 4-8 times your annual income and for as long a term as is available for your age. Find out the ideal cover for you using this calculator

Product features:



Minimum age at entry

25 years

Maximum age at entry

45 years

Policy term

60 years minus Age at Entry

Sum assured

Base Sum Assured is Rs 1,00,000 which increases by Rs 5,000 every year till it reaches Rs 2,00,000



The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 1,00,000 and Policy Term = 60 years – age of Life Insured


Your age


Indicative Annual Premium

(For cover of Rs.1 lakh )

30 years

30 years

Rs. 1005

35 years

25 years

Rs. 1142

40 years

20 years

Rs. 1291

Returns: No survival benefit available at the end of the term. Pure insurance must be considered an expense and not an investment. Both insurance and investment give satisfying outcomes when dealt with separately.

Better alternative

Online policies with similar features can be bought at less than half the premiums on offline policies.

Fintotal Product Analysis is the ideal place to seek unbaised and neutral view on all financial products.

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Table of Contents

Table of Contents