MoneyLens / Life insurance & savings
Your policy, explained.
Endowment plan · Sarayu Assured Savings · Sarayu Life Insurance Ltd
Illustrative
Endowment plan · Before buying
Term15 years
Real return
2.87%
a year, on guaranteed benefits only
Premium a year
₹1,00,000
for 10 years
Life cover
₹11,00,000
11.0× the premium
Guaranteed at maturity
₹13,50,000
after 15 years
An endowment plan with bonuses from Sarayu Life Insurance Ltd: ₹1,00,000 a year for 10 years, over 15 years, with ₹11,00,000 of life cover. ₹13,50,000 is guaranteed at maturity; bonuses come on top but aren't guaranteed. That's about 2.87% a year on guaranteed benefits only. The 4% and 8% figures are illustrations IRDAI requires, not forecasts.
Myra's most important observations
Six questions, answered
Tap an answer for the detail01Product identity
- PlanSarayu Assured Savings
- InsurerSarayu Life Insurance Ltd
- KindEndowment plan · with bonus
- DocumentsBenefit illustration
02What this is
An endowment plan with bonuses from Sarayu Life Insurance Ltd: ₹1,00,000 a year for 10 years, over 15 years, with ₹11,00,000 of life cover. ₹13,50,000 is guaranteed at maturity; bonuses come on top but aren't guaranteed. That's about 2.87% a year on guaranteed benefits only. The 4% and 8% figures are illustrations IRDAI requires, not forecasts.
03Key numbers
Before buyingPremium a year
₹1,00,000
for 10 years
Policy term
15 years
Life cover
₹11,00,000
11.0× the premium
Guaranteed at maturity
₹13,50,000
bonuses on top
Real return a year
2.87%
on guaranteed benefits only
04Important findings
Most important first · tap to expandIRDAI requires the death benefit to be at least 7 times the annualised premium at entry age 34 and 105% of the premiums paid. ₹1,00,000 a year buys ₹11,00,000 of cover here; the "Term + invest" studio sets this beside cover bought on its own.
Illustration p.1, Policy · Illustration p.1, Premium
08What Myra could not verify
1!
Premiums on your other policies issued from Apr 2023
Needed to confirm a finding
09Suggested questions
05What you're committing to
- ₹1,00,000 a year for 10 years
- The money stays in for 15 years
- Stopping early pays back less than paid in, especially in the first years
06What can change
- BonusesDeclared each year; not guaranteed
- Tax rulesThe tax-free test can change with the law
- CoverFixed for the term
07Leaving early
- SurrenderSSV after a year's premium; GSV after two
- Stop premiumsBecomes paid-up, with reduced benefits
- Free look30 days from receiving the policy