Shriram Life Insurance Company Limited is an insurance and financial service provider that serves the less fortunate people and economically weaker families in society. Their main motive is to reach common people and the products/plans are helpful to them work efficiently. Shriram group institutions is a chit fund company before initiated into business and now it is one of the leading commercial vehicle finance and Micro, Small, and Medium Enterprise finances. The cost of Shriram life insurance varies depending on the type of policy that you choose to buy.
Shriram life insurance covers COVID-19 hospitalization expenses, lifelong coverage up to 99 years while issuing policy no medical checkup is required, and also save more with online & offline purchases with discounts. Shriram has some the group companies such as Shriram financial services ltd, Shriram housing finances ltd, Shriram industrial holdings ltd, Shriram ventures, Shriram transport finances, etc. Shriram customer services provide a 24/7 digital servicing option.
Shriram Life Insurance Company offers a wide variety of life insurance products such as savings plans, investment plans, micro insurance plans, protection plans, retirement plans, etc. which serve the different sections of the society. The online plans of Shriram Life Insurance Company are the most selling life insurance plans due to the Coronavirus pandemic.
About Shriram Life Insurance
| Claim Settlement Ratio |
95.12% |
| Inception |
2005 |
| Branches |
423 |
| Death Benefit Paid For |
2816 |
| Solvency Ratio |
1.82 |
Shriram Life Insurance Benefits
- Financial Protection: Shriram Life Insurance Company provide financial protection to to you and your family.
- Flexibility: You can get flexibility in premium payout options.
- Online Availability: Shriram life insurance company specifically designed online plans at affordable prices
- Variety: Shriram life insurance offers a wide variety of online as well as offline plans.
- Tax benefits: In Shriram Life Insurance Policy, Save tax on all premiums and payouts under the section 80C and 10(10D) of Income Tax Act, 1961.
Shriram Life Insurance Plans List
- Shriram Life Insurance Individual Plans
- Shriram Life Savings Plans
- Shriram Life Investment Plans
- Shriram Life Protection Plans
- Shriram Life Retirement Plans
- Shriram Life Micro Insurance Plans
- Shriram Life Rider Plans
- Shriram Life Insurance Group Plans
- Shriram Life Protection Plans
- Shriram Life Employee Benefit Plans
- Shriram Life Special Plans
- Shriram Life Micro Insurance Plans
- Shriram Life Insurance Featured Plans
- Shriram Life Insurance Online Plans
Shriram Life Insurance Individual Plans
1.) Shriram Life Insurance Saving Plans:
i.Shriram Life Super Income Plan:
This plan is to cover the financial security of an individual and families in long term.
Benefits of Shriram life insurance:
- Super Income: A super Income benefit of a fixed monthly amount will be paid from the end of the policy period or in your absence.
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid and the policy is terminated.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
- Tax Benefit: As per Income Tax Laws & are subject to change from time to time.
Features:
- Entry Age: 25 years
- Maturity Age: 75 years
- Premium Payment: 10 to 25 years, based on yearly, half-yearly, quarterly, monthly.
- Policy Term: No Limit
- Sum Assured: Rs. 3,60,000 lakhs
ii. Shriram Life Golden Premier Saver Plan:
This plan is to cover combine protection with savings to your family, grow your savings, and get coverages.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
- Tax Benefit: As per Income Tax Laws & are subject to change from time to time.
- Extended cover: By choosing this option and paying the additional premiums, in addition to the benefits mentioned above, the policyholder will get life insurance cover for an extended term.
Features:
- Entry Age: 18 years
- Maturity Age: 75 years
- Premium Payment: 8 to 20 years, based on yearly, half-yearly, quarterly, monthly.
- Premium:
- Policy Term: 10/13/15/25 years
- Sum Assured: Rs. 2 lakhs
iii. Shriram Life Assured Income Plan:
This plan is to cover financial obligations in your absence and also provides returns on maturity if you are already in a plan of regular payment after your demise it will receive periodically.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 30 days
- Maturity Age: 65 years for POS, and 70 years for Non-POS
- Premium Payment: based on yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 15,000
- Policy Term: 8/10/12/15 years
- Sum Assured: Rs. 1.2 lakhs
iv. Shriram Life Genius Assured Benefit Plan:
This plan is to provide healthy and happier life to children when any threats happen policy gives security to your child even when you are not around them.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 18 days
- Maturity Age: 63 years
- Premium Payment: 10 years based on yearly, monthly.
- Premium: Rs. 21,732
- Policy Term: 10 to 18 years
- Sum Assured: Rs. 2 lakhs
v. Shriram Life POS Assured Savings Plan:
This plan is to cover the older ones of our families when we are not around, which helps your savings.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 3 years
- Maturity Age: 65 years
- Premium Payment: 10 years based on yearly, quarterly, monthly.
- Premium: Rs. 5000
- Policy Term: 10 /15 years
- Sum Assured: Rs. 10 lakhs
vi. Shriram Life Assured Advantage Plus:
This plan is an endowment plan where you have to pay a premium only once. Also gives coverage to a child’s education/wedding or buying your dream car or a long family vacation abroad.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 8 years
- Maturity Age: 70 years
- Premium Payment: single
- Premium: Rs. 1 lakh
- Policy Term: 10 years
- Sum Assured: Rs. 10 lakhs
vii. Shriram Life New Akshay Nidhi:
This plan is to cover your family which gives you financial support at regular intervals.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 30 days
- Maturity Age: 70 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 1 lakh
- Policy Term: 15/20/25 years
- Sum Assured: Rs. 1 lakhs
viii. Shriram Life New Shri Life:
This plan is a non-linked endowment plan which may be added to your life cover year after year and also the maturity benefit.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 30 days
- Maturity Age: 75 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 4000
- Policy Term: 10/15/20/25 years
- Sum Assured: Rs. 50,000
ix. Shriram Life New Shri Vidya:
This plan gives insurance cover to a child’s future in educational expenses in case of any uncertainties happen to the policyholder.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 18 years
- Maturity Age: 70 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 4000
- Policy Term: 10/15/20/25 years
- Sum Assured: Rs. 1 lakh
2.) Shriram Life Insurance Investment plans:
i. Shriram Life Growth Plus:
This plan is to cover both life cover and savings through market-linked returns with premium payment, fund, and flexibility of investment to children, spouse, and grandchild.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 3 days
- Maturity Age: 70 years
- Premium Payment: 6 years based only on single
- Premium: Rs. 3,500 for monthly regular payment.
- Policy Term: 10/15/20 years
- Sum Assured: Rs. 2 lakhs
ii. Shriram Life Fortune Builder:
This plan is to cover individuals who do not have a regular cash flow to premium payments each year on due date.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 18 years
- Maturity Age: 75 years
- Premium Payment: single term
- Premium: Rs. 25,000
- Policy Term: 10/15/20 years
- Sum Assured: Rs. 1.25 lakhs
iii. Shriram Life Wealth Plus:
This plan is to cover your loved ones with financial support; it helps grow your investments and maximizes returns on them offering both savings and protection under a single plan.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 7 years
- Maturity Age: 70 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 2,000 for monthly
- Policy Term: 10/15/20 years
- Sum Assured: Rs. 1.25 lakhs
3.) Shriram Life Insurance Protection Plans:
i. Shriram Life Smart Protection Plan SP:
This plan is to cover our family’s lifelong coverage with an accidental cover or critical illness cover.
Benefits:
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
- Waiting Period: It is a period of 1st 90 days from the date of acceptance of risk, the plan covers critical illness any time after the waiting period.
Features:
- Entry Age: 18 years
- Maturity Age: 75 years
- Premium Payment: Single for SP plan, yearly, half-yearly, quarterly, and monthly.
- Premium: Rs. 6000 for monthly
- Policy Term: 6/10/30 years
- Sum Assured: Rs. 1 to 3 lakhs minimum
ii. Shriram Life My Spouse Term Plan:
This plan is to cover individuals and spouses with comprehensive coverage with affordable premiums.
Benefits:
- Longer Protection life cover up to the age of 75 years
- Lower premium for 3 years age females.
- High sum assured discount.
- Enhance your protection with limited coverages.
Features:
- Entry Age: 18 years
- Maturity Age: 75 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 3,000 for monthly
- Policy Term: 10/15/20 years
- Accidental Death benefit: Rs. 10 Lakhs
- Critical Illness Cover: Rs. 5 lakhs
- Sum Assured: Rs. 25 lakhs
iii. Shriram Life Cash Back Term Plan:
This plan is affordable financial security for your loved ones. It has a lump sum payout in case of unfortunate death happens, the policies will be returned on maturity.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 12 years
- Maturity Age: 70 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 3,000 for monthly
- Policy Term: 10/15/20/25 years
iv. Shriram Life Family Protection Plan:
This plan is a non-linked, non-participating term insurance plan to protect their families in case of sudden death.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 18 years
- Maturity Age: 75 years
- Premium Payment: yearly, half-yearly
- Premium: Rs. 4,000 for monthly
- Policy Term: 10-25 years
- Sum Assured: Rs. 15 lakhs
v. Shriram Corona Rakshak Policy Plan:
This plan provides a lump sum amount to the covid-19 diagnosed person for hospitalization charges with 100% sum insured.
Benefits:
- Waiting period: This plan is to claim Covid expenses within 15 days from the first policy onwards.
Features:
- Features:
- Entry Age: 18 years
- Maturity Age: 65 years
- Premium Payment: single
- Sum Assured: Rs. 50,000 to 2 lakhs
vi. Shriram Life Saral Jeevan Bima Plan:
This plan provides financial support to our families if you are not around them along with accident benefit coverage.
Benefits:
- Death during Waiting Period: 100% of total premiums paid if any death happens during policy period.
- Death after Waiting Period: death after the waiting period expiry the lump sum amount that is equal to death sum assured is given to the nominee.
Features:
- Entry Age: 18 years
- Maturity Age: 75 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 2,000 for monthly
- Policy Term: 5 to 40 years.
- Sum Assured: Rs. 50,000
4.) Shriram Life Insurance Retirement Plans:
i. Shriram Life Pension Plus:
This plan is to cover policyholders' regular income for life by purchasing an annuity plus. It is suitable for individuals with long-term retirement plans.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 20 years
- Maturity Age: 80 years
- Premium Payment: 10, 15, 19, 20, and 35 years based on yearly, monthly.
- Premium: Rs. 3,500 for monthly regular payment.
- Policy Term: 10/15/35 years
- Sum Assured: Rs. 1 lakh
ii. Shriram Life Immediate Annuity:
This plan is to provide a lifetime income after retirement with regular periods
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Tax Benefit: Tax benefits are as per income tax laws & subject to change from time to time.
Features:
- Entry Age: 0 years
- Maturity Age: 85 years
- Premium Payment: yearly, monthly
- Premium: Rs. 25,000
- Policy Term: 10/15/20 years
- Sum Assured: Rs. 3 lakhs
iii. Shriram Life Saral Pension:
This plan is to cover an individual’s premium plan of an annuity for the whole life and return of purchase price on death. Life annuity with return of 100% purchase price on death of the policyholder.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 40 years
- Maturity Age: 80 years
- Premium Payment: yearly, half-yearly, quarterly, monthly.
- Premium: Rs. 1,000 for monthly
- Policy Term: single years
- Sum Assured: Rs. 12,000
5.) Shriram Life Insurance Micro Insurance Plans:
Shriram Grameena Suraksha Plan:
This plan is a micro-insurance term plan and provides life cover at a low cost with the return of premium on maturity.
Benefits:
- Maturity Sum Assured: In case of the endurance of life assured till the end of the policy term can get guaranteed maturity sum assured will be paid.
- Death Benefit: Death of the policyholder happens in policy period the higher amount of policy term is paid to the nominee.
Features:
- Entry Age: 18 years
- Maturity Age: 65 years
- Premium Payment: 10/15years
- Premium: Rs. 1400 for monthly
- Policy Term: 10/15years
- Sum Assured: Rs. 2 lakhs
6.) Shriram Life Insurance Riders:
| Add-ons/Riders |
What is it? |
Age of Entry & Maturity age |
Annual Premium |
Policy Term |
| Shriram Life Critical Illness Plus Rider |
This plan is a non-linked, non-participating health risk premium rider suffering a serious illness or injury in the future. |
18 to 70 years |
Rs. 4,000 based on single, yearly, monthly, quarterly, monthly. |
5 to 52 years |
| Shriram Critical Illness Care Rider |
This plan is an investment to the policyholder to offer liquidity during the five years. |
18 to 70 years |
Rs. 4000 |
5 to 25 years |
| Shriram Accidental Death & Disability Rider |
These rider-linked insurance products do not offer any liquidity during the first five years of the policy. |
18 to 70 years |
Rs. 4,000 |
5 to 25 years |
| Shriram Accidental Death & Disability Income Rider |
These rider-linked insurance products do not offer any liquidity during the first five years of the policy. |
18 to 70 years |
Rs. 4,000 |
5 to 25 years
|
| Extra Insurance Cover Offline |
This rider gives additional life cover provides financial support to the family in your absence. |
18 to 70 years |
Rs. 4000 Based annually, yearly, half-yearly, and monthly. |
5 to 52 years |
| Shriram Life Critical Illness Plus Rider |
This plan is to provide additional cover to accidental death or disability candidates cover with monthly installments. |
18 to 70 years |
Rs. 4000 Based annually, yearly, half-yearly, and monthly. |
5 to 52 years |
| Critical Illness Cover Offline |
This plan is to cover you with serious illness or injury in the future. |
18 to 70 years |
Rs. 4000 Based on single, annually, yearly, half-yearly, and monthly. |
5 to 52 years |
| Accident Benefit Rider Offline |
This rider provides additional covers in case of accidental death or disability. |
18 to 70 years |
Rs. 4000 Based on single, annually, yearly, half-yearly, and monthly. |
5 to 52 years |
| Family Income Benefit Online |
This add-on helps you with additional coverage of accidental death or disability. |
18 to 70 years |
Rs. 4000 Based on single, annually, yearly, half-yearly, and monthly. |
5 to 52 years |
Shriram Life Insurance Group Plans
1) Shriram Life Protection Plans:
| Plan Name |
What is it? |
Entry Age |
Maturity Age |
Policy Term |
Sum Assured |
Group Size |
Benefits |
| Shriram Life Group Life Protector Plan |
Shriram Group Life Protector Plan is a non-linked, non-participating group life insurance plan that provides protection in case of the unfortunate death of the insured person of the group. |
18 to 68 years |
70 years |
2 to 30 years |
5000/- per member |
50 |
Death Benefit
Tax Benefits
|
| Shriram Group Term Life Insurance Plan |
Shriram Group Term Life Insurance is a one-year renewable group term assurance plan that offers the option of the lump-sum death benefit in the event of the death of a member. |
14 to 79 years |
80 years |
1 year |
5000/- per member |
20 |
Death Benefit
Additional protection through Accidental Death and Disability Rider
|
2) Shriram Life Group Employee Benefits Plan
| Plan Name |
What is it? |
Entry Age |
Maturity Age |
Policy Term |
Sum Assured |
Group Size |
Benefits |
| Shriram Life Group Traditional Employee Benefit Plan |
Shriram Life Group Traditional Employee Benefit Plan is a non-linked non-participating group variable insurance plan. |
14 to 75 years |
76 years |
1 year |
1000/- per member |
10 |
Death Benefit
Additional Returns
Maturity Benefit
|
| Shriram Life Group Superannuation Plan |
Shriram Life Group Superannuation Plan is a non-linked nonparticipating variable fund-based plan. |
14 to 74 years |
76 years |
1 year |
1000/- per member |
20 |
Death Benefit
Insurance Benefit
|
| Shriram Life New Group Gratuity Plan |
Shriram Life New Group Gratuity is a unit-linked, non-participating group insurance plan that offers a comprehensive solution to you in a cost-effective manner. |
14 to 74 years |
75 years |
1 year |
- |
10 |
Death Benefit
Retirement Benefit
|
| Shriram Life Group Term Life Insurance in lieu of EDLI Plan |
Shriram Life Group Term Life Insurance in lieu of EDLI provides additional life insurance benefits to all employees irrespective of their PF balances, salary level and service. |
14 to 74 years |
75 years |
1 year |
3.62 to 15 lakhs |
20 |
Insurance Benefit
Benefits to the Employee
|
3) Shriram Life Special Plans
| Plan Name |
What is it? |
Entry Age |
Maturity Age |
Policy Term |
Sum Assured |
Group Size |
Benefits |
| Shriram Life Pradhan Mantri Jeevan Jyoti Bima Yojana Plan |
Shriram Life Pradhan Mantri Jeevan Jyoti Bima Yojana is a non-linked and nonparticipating one-year renewable group term insurance plan. |
18 to 50 years |
55 years |
- |
2 lakhs |
50 |
Death Benefits
|
4) Shriram Life Micro Insurance Plans
| Plan Name |
What is it? |
Entry Age |
Maturity Age |
Policy Term |
Sum Assured |
Benefits |
| Shriram Life Sujana Plan |
Shriram Life Sujana is a non-linked and non-participating group credit life micro insurance product. |
18 to 73 years |
75 years |
5 years |
1000 to 2 lakhs |
Death Benefit
|
| Shriram Life Jana Sahay Plan |
Shriram Life Jana Shay Plan is a non-linked and non-participating yearly renewable group term micro insurance product. |
18 to 65 years |
- |
1 year |
5000 to 2 lakhs |
Death Benefit
|
Shriram Life Insurance Online Plans
| Plan Name |
What is it? |
Entry Age |
Maturity Age |
Policy Term |
Sum Assured |
Benefits |
| Shriram Life Online Term Plans |
Shriram Life Online Term Plans provides financial security to you and your loved ones. |
18 to 55 years |
28 to 75 years |
10 to 57 years |
25 lacs to 10 Crores |
Accidental Death Benefit Cover
Critical Illness Benefit Cover
|
| Shriram Life Comprehensive Cancer Care Plan |
Shriram Life Comprehensive Cancer Care Plan is a non-linked non-participating protection plan. |
18 to 55 years |
75 years |
5 lakhs to 50 lakhs |
10, 15, 20 years |
Fixed Benefit on the diagnosis of Cancer
comprehensive cancer cover
|
How to Buy Shriram Life Insurance Policy?
The process of buying a life insurance policy online has become simple with PolicyBachat. For buying a life insurance plan online please visit Life Insurance and follow the below steps.
- Step1: Enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, Salaries or Self-employed, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
- Step2: Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc., and submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
- Step3: The next step is to select the best life insurance plan and pay the premium to the insurance company before proceeding to fill out the proposal form details.
Shriram Life Insurance Renewal
Life insurance renewal has never been simple as it is now. With the advent of technology, the life insurance renewal process is simple. You can renew your life insurance policy online without worrying about the need to go to the insurance company to pay the premium. To renew your life insurance policy online please contact our agent who can assist you in the renewal process. Insurance companies send a payment link to the customer to renew the life insurance policy once the payment is made renewal intimation will be sent to the customer. Renew life insurance policy through multiple options using Net banking, Credit card, Debit card, UPI wallets, and bill pay online.
Shriram Life Insurance Premium Calculator
The online Shriram life insurance calculator tool is used to calculate the premium of the Shriram life insurance policy. PolicyBachat offers an online tool Premium Calculator to calculate the premium of your insurance plan. You can calculate the amount of premium payable by entering a few details such as mobile number, name, date of birth, email address, occupation, type of policy, sum assured, gender, state, etc.
The premium paid by the customer is depending on many factors. The Factors affecting the premium are the age of the policyholder, type of policy, sum assured required, etc. The premium calculator tool will reflect the estimated premium amount that the policyholder will have to pay for the cover he/she requires based on these factors. Once you provide all the relevant details and then click on the submit tab, you will receive details regarding your monthly premium.
There are some premium calculators are available on the Shriram life insurance website such as
- Online Premium Quote Calculator
- Premium Calculator
- Human Life Value Calculator
- Benefit Calculator
Shriram Life Insurance Claim Process
Step 1- Claim Intimation:
The first step is to intimate Shriram life insurance Company by calling their customer care number. Download the Shriram Life insurance claim form from the website or collect the death claim intimation form from the nearest Shriram Life insurance branch office and fill in the details and attach the documents required.
Step 2- Claim Processing:
The filled claim form along with the required documents has to be submitted the claim officer will contact the nominee for further verification.
Step 3- Claim Decision:
After the submission, the Shriram life insurance company will verify the documents and assess the claim. You will be kept in the loop through regular messages and emails. Once everything is according to their rules, it will process the claim within 30 days.
Documents Required to Claim Shriram Life Insurance Policy
- Duly filled Claim Form
- Original Policy Document
- Death Certificate
- Address proof
- ID Proof
- Bank Account Details
- In case of no nominee, a legal heir certificate
- Hospital treatment records
- Post-mortem & chemical viscera report (if required)
- Physician's Statement
- Police Report / F.I.R in case of unnatural death
List of Life Insurance Companies:
Shriram Life Insurance FAQs
How to Check Shriram Life Insurance Policy Status?
Shriram Life Insurance policy status can be checked by contacting the intermediary from whom the policy was taken or alternatively the insurance policy status can be checked online by visiting their website or in case if you have taken the policy from PolicyBachat then you can call our customer care to enquire on the insurance policy status.
How to Pay Shriram Life Insurance Policy?
Shriram life insurance online payment can be done by multiple payment options to pay premiums online using Net Banking, Credit card, Debit card, UPI wallets, and bill pay. It is a secured digital platform to activate auto-debit for renewal of Shriram life insurance payment with a quick registration.
How to Cancel Shriram Life Insurance Policy?
You can cancel the Shriram Life insurance policy online on our portal. Shriram life insurance plan can be canceled by the policyholder at any point time after the policy start date by writing to the insurance company and filling out the cancellation form. If the policy is to be canceled within the free look period, it can be done without any premium deduction by the insurance company. If the policy is to be canceled after the free look period, a pro-rata premium would be charged by the insurance company from the customer.
How to Calculate Surrender Value of Shriram Life Insurance Policy?
The surrender value of the Shriram Life insurance policy is calculated as a Single premium multiplied by 75% of the outstanding term to maturity/ total term. In case of increasing term assurance, the surrender value is calculated as a Single premium multiplied by 80% of the outstanding term to maturity/ total term again multiplied by the average of effective sum assured at surrender and effective sum assured at the time of maturity/ Average of initial sum assured and effective sum assured at maturity.