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Shriram Life Insurance Plans

84 reviews Rate This
Claim Settlement Ratio95.12%
Customer Care24x7
Death Benefit Paid For2,816 Policies
Presence529 Branches
Total Death Benefit PaidRs. 77.88 Crore

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Connecting with Shriram Life Insurance Company Plan promises to secure your family’s financial future and well-being. You can seek a consultation from their employees before finalizing your insurance product purchase. Shriram Life Insurance Company provides six life insurance plans. Here is a detailed overview of the same:

1. Saving Plans

2. Investment Plans

3. Protection Plans

4. Retirement Plans

5. Microinsurance Plans

6. Group Plans

Shriram Life Insurance Saving Plans

Shriram Life Insurance Saving Plans are summarized as follows:

1. Shriram Life POS Assured Savings Plan: This policy helps you grow your savings while ensuring the financial stability of your family even when you are not with them with its maturity benefit and death benefit.

2. Shriram Life Golden Premier Saver Plan: This plan is designed to blend the protection benefits with saving benefits by providing you with customization options for additional benefits. It promises you the option to extend your life coverage until the age of 80 years. Besides, you also get an additional sum assurance on attaining the stipulated age.

3. Shriram Life Super Income Plan: Shriram Life Super Income Plan assures you of insurance coverage until the age of 75 years. Here, you receive a dual benefit of guaranteed maturity sum plus monthly income across a broad premium payment term.

4. Shriram Life Assured Advantage Plus: It is an endowment policy under which policyholders are allowed to pay a single premium for their plans to receive dual benefits of life insurance as well as returns on maturity.

5. Shriram Life Genius Assured Benefit Plan: This plan offers guaranteed benefits on maturity that assure your child with a secured educational future. Shriram Life Genius Assured Benefit Plan is a comprehensive life insurance cover offering flexibility to their customers in receiving educational support benefits.

6. Shriram Life Assured Income Plan: A plan to promise your family secured well-being, Shriram Life Assured Income Plan offers policy terms of around 8/10/12/15 years. The best part of purchasing this plan is that you receive higher returns for higher premiums and payment terms.

7. Shriram Life New Akshay Nidhi: This policy offers periodical survival benefits in addition to maturity as well as death benefits. It also provides additional protection to its policyholders through rider covers.

8. Shriram Life Assured Income Plus: This insurance plan caters to people who want to invest their money only for a minimum and fixed time frame and wish to reap the annual benefits at the time of maturity.

9. Shriram Life New Shri Life: It is an endowment plan which is not just a systematic saving scheme for customers, but also acts as a trusted protection instrument for their families in case of a mishap.

10. Shriram Life New Shri Vidya: This insurance plan is designed to help your kid achieve their aspirations. It comes with survival benefits which can be modified as per your kid’s educational needs and cover that can help you in a situation if any unfortunate incident happens to you.

Shriram Life Insurance Investment Plans

Shriram Life Insurance’s Investment Plans are summarized as follows:

1. Shriram Life Growth Plus: This policy provides both life insurance cover and saving cover. It gives multiple choices for premium payment, the flexibility of investment, and so on. This plan can be taken for other lives such as a spouse, kid, or grandchild.

2. Shriram Life Fortune Builder: It is a single premium unit-linked insurance cover that is specially designed for people who cannot own a constant cash flow to make premium payments every year on the due date.

3. Shriram Life Wealth Plus: The policy secures your loved ones and confirms they are shield financially even after your death. It grows your investments and maximizes your returns on them by offering savings as well as protection under a single policy.

Shriram Life Insurance Protection Plans

Shriram Life Insurance Protection Plans are explained as follows:

1. Shriram Life Smart Protection Plan: This insurance cover is a term insurance cover that is available at a reasonable premium cost. It also gives life cover in addition to optional accidental cover or critical illness cover.

2. Shriram Life Smart Protection Plan SP: It is a single premium term insurance scheme that helps you to relax without worrying about regular payments. It offers life cover with optional critical illness cover or accidental cover.

3. Shriram Life My Spouse Term Plan: It is an insurance product that offers you comprehensive coverage at competitive premium rates. This plan helps you provide coverage to yourself and your spouse against different types of unfortunate incidents in the future.

4. Shriram Life Cash Back Term: It is an economical plan that provides you with a lump sum payout in the event of an unfortunate death to assist your family to lessen their debts and live life with financial soundness. Also, this plan returns the premiums paid at the time of maturity.

5. Shriram Life Family Protection: This is an insurance policy that caters to the requirements of people who wish to secure their families in a situation of the untimely death of the assured person.

6. Corona Rakshak Policy: It is a fixed benefit COVID–19 policy that provides a lump sum amount as a benefit if you are diagnosed with coronavirus infection and hospitalised due to it. It pays 100% of the sum insured to policyholders till the specified conditions are fulfilled.

7. Shriram Life Saral Jeevan Bima: This is a life insurance scheme that is a simple and straightforward policy. It is designed to provide your family with financial assistance in case of your demise.

Shriram Life Insurance Retirement Plans

Shriram Life Insurance Retirement Plans offers plans which are as follows:

1. Shriram Life Pension Plus Plan: This plan provides assistance to help you achieve your retirement goals by developing a huge amount to enable you to hold a regular and good amount of income for life.

2. Shriram Life Immediate Annuity Plus Plan: This plan is a single premium scheme for individuals that aims to offer a lifetime income flow after retirement.

Shriram Life Insurance Microinsurance Plans

Shriram Life Insurance Company promises all its customers with the non-linked and non-participating Individual Microinsurance Scheme. Here are Shriram Life Insurance Policy details of microinsurance plans are listed below:

1. Shriram Grameena Suraksha Plan: It is a micro-insurance term policy that is meant to provide life cover at a very low cost, especially to the socially and financially weaker segments of society.

Shriram Life Insurance Group Plans

Group Insurance plans are designed to provide a company or a group of people with the same amount of coverage and the same benefits. They are further subdivided into 4 major categories:

1. Group Protection Plan: The best way to protect your family is to get them covered under the Group Protection Plan. The group protection plans from Shriram Life Insurance Company are – Shriram Life Sujana; Shriram Life Group Life Protector; and Shriram Life Group Term Insurance Plan.

2. Employee Benefit Plan: Providing benefits to cover your employees with a long-term insurance benefit is the utmost in this critical hour of rapidly spreading COVID-19 infection. The most suitable employee benefit plans available with Shriram Life Insurance Company for your group insurance are – Shriram Life Group Traditional Employee Benefit Plan; Shriram Life New Group Gratuity; and Shriram Life Group Superannuation Plan.

3. Shriram Life Special Plans: Enjoy the most affordable group term insurance with Shriram Life Special Plans that promises life cover to all individuals holding savings bank accounts in any Indian bank.

4. Microinsurance Plans (Groups): Shriram Life Insurance Company provides three non-linked and non-participating group term micro insurance plans - Shriram Life Jana Sahay; Shriram Life Shri Sahay; and Shriram Life Shri Sahay.

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Claim Process at Shriram Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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FAQ About Shriram Life Insurance

  • What is Survival Benefit in Shriram Life Insurance?

    Survival Benefit in Shriram Life Insurance is the sum assured in the policy which is paid in the predefined number of installments.

  • What is a rider in Shriram Life insurance plans?

    Riders are the additional insurance benefits that add to your Shriram LIfe insurance  policies. It is a condition or a clause which adds across your basic plan in the form of extra premiums or add-on benefits.

  • Is nomination required for availing of Shriram Life Insurance Policy?

    The nomination is quite essential as the nominated person is entitled to claim the assured amount from Shriram Life Insurance Company in the event of the claimant's death.

  • How can you check the fund value of your Shriram Life Insurance Policy?

    The value of Policy is the “Fund Value”. To check your insurance policy's fund values, you first need to log in to your Policy Account. As soon as you log in, click on the tab highlighting fund details, and enter your policy number.

  • What do you mean by policy assignment in Shriram Life Insurance?

    Policy assignment in Shriram Life Insurance is defined as the transfer of the life cover and benefits of a particular policy to some other person or an institution.

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