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Shriram Life Term Insurance FAQs

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Highlights
Claim Settlement Ratio95.12%
Customer Care10:00 AM to 7:00 PM
Death Benefit Paid For2,816 Policies
Inception2005
Presence529 Branches
Total Death Benefit PaidRs.77.88 Crore

Term Life Insurance Premium Calculator

Gender

  • Male
  • Female

Date of Birth

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Do you smoke or chew tobacco?

  • Yes
  • No

Choose required coverage to secure your family’s future

50L
1Cr
1.5Cr
2Cr
Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best Shriram Life Term Insurance Plans

1 Crore
2 Crore
  • LIFE COVER
    Tax Free
    1 Cr
  • CLAIMS SETTLED 99.51%
Starting From 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
  • LIFE COVER
    Tax Free
    1 Cr
  • CLAIMS SETTLED 97.84%
Starting From 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
  • LIFE COVER
    Tax Free
    1 Cr
  • CLAIMS SETTLED 99.4%
Starting From 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
See More Plans

Benefit

  • Why should I choose Shriram Life term insurance?

    It is advisable to choose a Shriram Life term insurance plan if you want to secure the financial future of your family even if you are not there to take care of your loved ones. 91.61% CSR, affordable premium, and tax benefits are some of the prime reasons as well.

  • Does Shriram Life Insurance provide any term insurance plan online for purchase?

    Yes! If interested, you can buy the Shriram Life Online Term Plan.

  • What are some of the riders I can buy with my term plan?

    You can choose from Shriram Life Critical Illness Plus Rider, Shriram Critical Illness Care Rider, Shriram Accidental Death & Disability Rider, Shriram Accidental Death & Disability Income Rider, Extra Insurance Cover Offline, Family Income Benefit Offline, Critical Illness Cover Offline, and Accident Benefit Rider Offline.

  • Does Shriram Life Insurance provide flexible premium payment modes?

    Yes! You can pick between yearly, half yearly, quarterly, or monthly premium payment modes as per your needs.

  • Will I be eligible for tax benefits on buying term insurance from Shriram Life?

    Yes! Policyholders having Shriram term insurance are eligible for tax benefits.

Claim Settement

  • Who to contact in case of Shriram Life Insurance term insurance claim difficulty?

    You may connect with Shriram Life Insurance Company’s customer support desk either at 1800-3000-6116 or claimsupport@shriramlife.in.

  • What supporting documents should I submit to raise a claim for Total Permanent Disability in Shriram Life Insurance Policy?

    To raise a claim for the Total Permanent Disability in Shriram Life Insurance, keep the following documents handy with you: Disability intimation letter or certification issued by a competent medical officer, Complete medical records, Proof of ID, age, and address of the Life Assured, Photocopy of the bank’s passbook of the Life Assured (Authority – Concerned Bank Manager) and FIR copy (in case the disability is due to an accident) issued by the competent police authority.

  • Are the Shriram Term Insurance Claim Forms available online on the official website?

    es, you may download the claim forms by visiting Shriram Life Insurance official website.

  • How much time does it take for Shriram Life Insurance Company to honour life insurance claims?

    If all the documents are in order, it will take around 30 days for Shriram Life Insurance Company to honour the claim.

  • Can the claimant lodge a claim if the original policy document issued by Shriram Life Insurance Company is lost?

    As a rule, the original policy document is mandatory. However, if it is lost, Shriram Life Insurance Company deals with the matter on merits and arranges to accept photocopies of the documents along with an affidavit/indemnity bond.

Over View

  • What is the CSR for Shriram Life Insurance Company?

    Shriram Life Insurance has a high CSR of 91.61% for the financial year 2019-20.

  • Which term insurance plans does Shriram Life provide?

    Shriram Life Insurance provides Shriram Life Cash Back Term Plan, Shriram Life My Spouse Term Plan, Shriram Life Online Term Plan, Shriram Life Smart Protection Plan, Shriram Life Smart Protection Plan SP, Shriram Life Family Protection, Corona Rakshak Policy and Shriram Life Saral Jeevan Bima. As the name suggests, Shriram Life Online Term Plan is an online plan.

  • What is the free look period for term insurance at Shriram Life Insurance?

    The free look period is 15 days. However, the free look period is 30 days if the policy has been purchased through distance marketing mode.

  • What is the grace period for term insurance plans at Shriram Life Insurance?

    The grace period is 30 days for yearly, half yearly and quarterly mode. In case of monthly mode, the grace period is 15 days.

  • Does Shriram Life Insurance provide any protection plan against Covid-19?

    Yes! You can easily buy Corona Rakshak Policy to gain protection against Covid-19. The policy provides 100% lump sum benefit in case of COVID-19 diagnosis and hospitalization.

Plans

  • What are the policy term options to select for availing Shriram Life Cash Back Term Plan?

    You may select either 10/15/20/25 years as the policy term for your Shriram Life Cash Back Term Plan.

  • What benefits are available with the purchase of the Shriram Life My Spouse Term Plan?

    Shriram Life My Spouse Term Plan offers the following key benefits to all their customers – low premium rates because the premium rates for women have a setback of 3 years, a long policy term ranging from 10 years - 57 years, and the policy also provides critical illness cover, terminal illness cover along with death benefits.

  • What is the entry age and the maturity age for Shriram Life Online Term Plan?

    The entry age for the Shriram Life Online Term Plan varies between 18 to 65 years. The maturity age for the same is 75 years.

  • How can I change my contact details in my purchased Shriram Life Insurance Company's term insurance plan?

    To make changes in your submitted contact details in your Shriram Life Insurance Policy, you can either visit the nearby branch office or write to us at customercare@shriramlife.in.

  • Can someone add or delete riders on Shriram Life Insurance policy?

    A rider policy can only be added at the purchase of the parent policy but it can be deleted anytime when you deem fit. It can be officially cancelled on the policy anniversary.

Premium Calculator

  • Which riders are available with the Shriram Life Insurance Plans?

    The four riders available with the Shriram Life Insurance Company are as follows: Accident Benefit Rider, Critical illness extra cover, Income benefit rider, and Extra insurance cover rider.

  • What factor affect the insurance premium calculation on the Shriram Life Insurance Company Term Insurance Premium Calculator?

    Various factors affect the insurance premium calculation in Shriram Life Insurance company. They are, the sum assured, policy term, your age, gender, your smoking habits, the riders you choose, and the premium payment frequency.

  • What is the best term insurance plan to opt for assured income with a low premium payment term?

    Shriram Life Insurance Company's Life Assured Income Plus plan offers the minimum of 10 times the annualized premium for all their policyholders up to the age of 50 years. Beyond that, you receive your annualized premium seven times for a tenure of 5 years after the maturity of your selected policy.

  • Why does Shriram Life Insurance Company want to know about smoking habits?

    The Shriram Life insurance premium for smokers is higher than that for non-smokers because of the higher risk involved.

  • Is the Shriram Life Insurance Company Premium Calculator the same for all plans?

    No, each insurance plan has a separate calculator. The Shriram Life Insurance Term Insurance premium calculator will not be the same for an endowment insurance plan, and vice-versa.

Shriram Term Insurance User Reviews

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What users are saying
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    On: Sep 14, 2023
  • InsuranceDekho's customer support team is highly responsive and knowledgeable. Whenever I had questions or nee...

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Shriram Life Term Insurance Contact Details

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Claim Process at Shriram Life Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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