Shriram Life Child Plans

Shriram Life Child Plans are investment products that offer protection and savings benefits to secure your child's future. In the event of the policyholder's demise, a lump sum (sum assured) is provided to the child. The plans also include features like guaranteed bonuses and early cash payouts, aiding in building funds for future needs such as education or marriage.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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Shriram Life Child Plans

Shriram Life Insurance Company deals in various child plans. The child education plans with their complete details are listed below:

Shriram Life Golden Premier Saver Plan

The Shriram Life Golden Premier Saver Plan is a non-linked, participating individual savings life insurance plan that combines the benefits of life insurance and savings. This means it provides financial protection in case of the insured's death while also offering accumulated savings upon maturity.

Here are the features and benefits of the plan:

  1. Affordability:

    • Low minimum premium starting at ₹10,296.

    • Limited premium payment term: Pay premiums for a shorter period but enjoy coverage for the entire policy term.

    • Flexible payment options: Choose annual, semi-annual, quarterly, or monthly installments.

  2. Enhanced Coverage:

    • Increase your sum assured for extended protection up to 80 years of age.

    • Assured bonus of 4% in the first five years to boost your corpus.

    • Bonus additions further enhance your maturity benefit.

  3. Maturity Benefits:

    • Choose a lump sum payout or a combination of lump sum and regular income.

    • Increase liquidity by receiving the sum assured in installments during the last five years (income option).

  4. Other Benefits:

    • Assured benefit: Get a guaranteed payout upon death or policy maturity.

    • Multiple riders: Add optional riders for additional coverage like critical illness or accidental death.

    • Flexibility: Customize your policy term, premium payment term, and frequency.

    • Loan facility: Access a loan against your policy in times of need.

    • Regular income: Opt for income with the lump sum option to receive a steady stream of income after maturity.

  5. Plan at Glance

    Age 0 to 60 Years
    Policy Term 10 years, 13 years or 15 years to 25 years
    Premium Paying Term From 5 to 20 Years
    Premium Mode Yearly, Half-Yearly, Quarterly, Monthly
    Minimum Annual Premium ₹10,296
Investment Investment
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₹1 Crore*
*Standard T & C Apply

Shriram Life Assured Income Plan

Shriram Life Assured Income Plan is a non-linked, non-participating life insurance plan that combines life insurance protection with guaranteed income benefits. 

Here are the key features and benefits of the plan:

  • Term Options: Choose a policy term of 8, 10, 12, or 15 years.

  • Payment Modes: Pay premiums monthly, quarterly, half-yearly, or annually.

  • Guaranteed Income: Upon maturity, receive a lump sum amount or opt for regular income payouts.

  • Death Benefit: If the life assured dies during the policy term, the nominee receives the sum assured.

  • Higher Benefits for Higher Premiums: Choose higher terms and premiums to enjoy an increased guaranteed income.

  • Riders: Enhance your coverage with optional riders like accident benefits, critical illness cover, family income benefits, and additional sum assured.

  • Accident Benefits: Receive the rider sum assured and be exempt from future premiums if you suffer a permanent disability due to an accident.

  • Family Income Benefit: In case of death or permanent disability due to an accident, your family receives a monthly income for 10 years.

  • Critical Illness Cover: Receive 100% of the rider sum assured if diagnosed with a critical illness, helping you manage medical expenses.

  • Paid-up Option: If you discontinue premiums after paying for at least two years, the policy continues with a reduced sum assured.

  • Tax Benefits: Enjoy tax exemptions on premiums paid and maturity benefits as per prevailing tax laws.

Plan at Glance

Age Criteria Entry Minimum: 30 days
Maximum: 55 years (age last birthday)
Maximum Maturity Age 70 years (age last birthday)
Policy Term 8/10 /12/15 years
Premium Paying Term Same as Policy Term
Benefit Payout Period Equal to Policy Term
Premium Mode Yearly, Half-Yearly, Quarterly, Monthly
Annualised Premium Minimum: Rs 15,000
Maximum: No limit
Basic Sum Assured (Policy Term X Annualised Premium) Minimum: Rs. 1,20,000
Maximum: No limit
Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

Shriram Life New Shri Vidya

Shriram Life New Shri Vidya Plan is a non-linked, participating child savings plan designed to financially secure your child's future while providing life cover for you. It combines savings, guaranteed payouts, and additional benefits to help meet your child's educational and other crucial needs.

Key features and benefits of the plan:

  • Affordable Premiums: Start saving for your child's future with premiums starting from just ₹8,000 per year.

  • High Sum Assured Rebate: Enjoy lower premiums when you choose higher sum assured levels for enhanced financial protection.

  • Additional Protection: Opt for optional riders like Accident Benefit, Extra Cover, and Critical Illness Plus Rider to expand the coverage scope.

  • Reversionary Bonuses: Grow your corpus with bonus additions declared by the insurer, boosting the overall payout.

  • Flexible Payment Terms: Choose regular or limited premium payment terms to suit your financial planning.

  • Convenient Instalment Options: Pay your premiums annually, half-yearly, quarterly, or even monthly for added flexibility.

  • Maturity Benefit: Receive a lump sum amount at the end of the policy term, along with any accumulated bonuses.

  • Premium Rebates: Get rewarded for choosing a higher sum assured with reduced premium payments.

  • Survival Benefits: If your child survives the policy term, receive guaranteed payouts in the last four years (25% of the sum assured each year).

  • Death Benefit: In case of your unfortunate demise, your child receives a guaranteed sum to compensate for financial loss.

  • Additional Death Benefit: Get an extra lump sum benefit upon your death to address your child's immediate financial needs.

  • Flexible Death Benefit Payouts: Choose to receive the additional death benefit in a lump sum or instalments, based on your family's requirements.

  • Policy Loan: Access up to 80% of the surrender value as a loan if needed during emergencies.

Plan at Glance

Criteria Limit
Age at entry Minimum:18 years
Maximum: 50 years
Maturity age Minimum: 28 years
Maximum: 70 years (age last birthday)
Policy Term 10 15 20 25
Premium Paying Term 10 8, 10,15 20 25
Minimum Annualized Premium ₹8000
Mode of Premium Payment Yearly, Half-yearly, Quarterly, Monthly
Sum Assured Minimum Maximum
₹ 1,00,000 No limit 
High Sum Assured Rebates (Premium rebates for high sum assured policies) Range Premium Discount
₹ 5,00,000 to ₹ 9,99,999 3% of the basic premium
₹ 10,00,000 and above 4% of the basic premium

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Shriram Life Early Cash Plan

The Shriram Life Early Cash Plan is a non-linked, participating, individual savings life insurance plan that offers a combination of life cover and savings benefits. It provides financial protection to your loved ones in case of your death while also helping you accumulate wealth through bonuses and maturity payouts.

Here are the key features and benefits of the plan:

  • Flexible tenures: Choose a policy term of 10, 12, or 15 years to suit your needs.

  • Assured annual bonus: Earn bonuses on top of your premiums, creating a source of passive income.

  • Terminal income: Receive a potential additional bonus at the end of the policy term.

  • Cover for minors: Insure children as young as 3 years old.

  • Flexible premium payments: Choose from various payment options for convenience.

  • Comprehensive cover: Get basic life cover, with the option to add riders for enhanced protection.

  • Death benefit: Your loved ones receive the sum assured, accumulated bonuses, and terminal bonuses (if declared) in case of your death.

  • Maturity benefit: Upon surviving the policy term, you receive the sum assured, accumulated bonuses, and terminal bonuses (if declared).

  • Early cash option: Get guaranteed cash bonuses as annual income starting from the second year.

  • Tax benefits: Enjoy tax exemptions on premiums paid and maturity proceeds under applicable sections of the Income Tax Act.

Plan at Glance

Criteria Details 
Age at Entry Minimum: 3 years
Maximum: 55 years
Maturity Age Minimum: 18 years
Maximum: 70 years
Policy Term & Premium Paying Term Policy Term Premium Paying Term
10 Years 6 Years
12 Years 6 Years, 8 Years, 10 Years
15 Years 8 Years, 10 Years, 15 Years
Sum Assured Minimum: ₹150,000 Maximum:
Maximum: No Limit
Premium Mode Annual Half-Yearly Quarterly Monthly
Modal Factors 1 0.5089 0.2567 0.0861
Riders Available Accident Benefit Rider (UIN 128B001V03)
Family Income Benefit Rider (UIN 128B002V03)
Shriram Extra Insurance Cover Rider (UIN 128B009V03)
Shriram Critical Illness Plus Rider (UIN 128B016V01)

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Applying for a Child Plan from the company:

  1. Online

    The company offers specific plans that are only available online. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through a credit card, debit card or net banking facilities, and the policy will be issued.

  2. Intermediaries

    Plans that are not available online can be purchased from agents, brokers, banks, etc., where the intermediaries help with the application process.

How to Buy Child Plans Through Policybazaar?

To buy a child plan from PolicyBazaar, follow these steps:

  • Visit the PolicyBazaar homepage and navigate to the "Personal" tab.

  • Click on "Child Plans" from the dropdown menu.

  • Fill out the lead form by providing your name and mobile number.

  • After filling out the lead form, click on the "View Plans" button.

  • Provide details such as your city, income, your age, and your child's age on the next page then click "Continue."

  • You will be directed to the quotes page, where you will find quotes from more than 10 insurers.

  • Next, choose the plan type based on the payment schedule – whether it's a one-time payout or a Monthly Payout Plan.

  • Select the plan that best suits your needs and click on "Get details".

Following these steps will guide you through the process of purchasing a child plan from Policybazaar.

Frequently Asked Questions

  • Can minors be named as nominees in the Shriram Life Early Cash Plan?

    Yes, minors can be named as nominees in the Shriram Life Early Cash Plan. However, the policyholder must appoint a guardian who can claim the benefits on behalf of the minor until they reach adulthood.
  • Are rider benefits available for minors under the Shriram Life Early Cash Plan?

    No, rider benefits are not accessible for minors under the Shriram Life Early Cash Plan.
  • What is the maximum sum assured I can select in the Shriram Life Early Cash Plan?

    There is no maximum limit to the sum assured you can choose under the Shriram Life Early Cash Plan.
  • How long do I receive bonuses under the Shriram Life Golden Premier Saver Plan?

    You receive bonuses throughout the chosen policy tenure and as long as premiums are paid regularly under the Shriram Life Golden Premier Saver Plan.
  • What is the grace period for premium payment in the Golden Premier Saver Plan?

    The Golden Premier Saver Plan offers a 30-day grace period for annual, half-yearly, and quarterly premium modes. For monthly premiums, the grace period is 15 days.
  • Is the Shriram Life Golden Premier Saver Plan tied to the stock market?

    No, the Shriram Life Golden Premier Saver Plan is a traditional savings plan and is not linked to the stock market.
  • What happens if I survive until the end of the term in the Shriram Life Assured Income Plan?

    Upon fulfilling all obligations, you can close your Shriram Life Assured Income Plan and claim the guaranteed lump sum payout, which can also be withdrawn as annual monthly payouts.
  • If I pass away unexpectedly during the active term of my Shriram Life Assured Income Plan, how can the nominee receive the death benefit?

    The nominee can receive the death benefit either as a lump sum, monthly payouts, or 50% of the sum assured up front and the rest as monthly payments.
  • How to pay a premium? What are the modes of payment available?

    Shriram Life Insurance Company offers 6 modes of premium payment namely:
    • Payment at the Axis Bank

    • Online Payment

    • NEFT

    • ECS

    • Pay Via Mobile

    For the online payment mode, the policyholder can pay via;

    • Credit Card,

    • Debit Card

    • Net banking

  • How can I check the policy status for Shriram Life child plans?

    To check policy status you can log into the e-portal with your valid credentials.
  • What is the policy renewal process for Shriram Life child plans?

    The Shriram Life Insurance company provides facility to renew the policy online.

    Step 1: Sign into the e-Portal with policy details

    Step 2: Select payment option (Bank, Debit/credit Card) to pay

    Step 3: Save/print e-receipt

    You can renew your policy via Mobile, please visit e-portal

  • What is the company’s process to settle claim for Shriram Life child plans?

    For the claim, the nominee must submit the valid documents along with the claims form at the nearest branch. Upon successful validation of documents the claim is fully settlled within a few days.
  • What is the policy cancellation process for Shriram Life child plans?

    Walk into the nearest branch of the Shriram Life insurance company with the policy documents. Surrender them and within a couple of days the refund will be directly credited into your bank.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:-
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

Child Plan


Child Plan


Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan 2
Average Rating
(Based on 23 Reviews)

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Shriram Life Child Plans Reviews & Ratings

4 / 5 (Based on 23 Reviews)
(Showing Newest 10 reviews)
Nainital, July 26, 2016
Shriram Policy
My child insurance plan is very good which i bought from shriram life insurance. The claiming is easy and service is fast served by the executives and staff members of the company. Good future planing for my angel.
Mangalpur, July 12, 2016
Child Plan
I buy child insurance policy in low premiums and policy coverage is maximum. Good future security for my child including his health and education and many more. Service is nice given by the staff members. Online service is nice it provide online renewals.
Akhandnagar, June 30, 2016
The child insurance plan i buy for my child. The service you provided is fantastic and the future paybacks are really very good. My child's future is secure with this policy. Policy coverage is high and it covers many scenario. Service is good with quick response.
Mumbai, May 11, 2016
superb plan
I found awesome shriram life child plan. The claim is high and the policy coverage is 93%. Service you provided is fast and very quick. Daily updates are mail and texted to me. The policy is good for future investment and it saves taxes also. The policy updates are mailed to me daily.
Roorkee, May 11, 2016
Need To Improve
Shriram life child plan which is an average one. The service is fast and the policy coverage is approx. 77%. The claims are okay but the claiming process is bit lengthy. Executives and staff members are doing great work with good response. Okay policy and good for tax saving. Good for middle class person. Please improve the policy services and online facilities.
Howrah, May 11, 2016
Working Good
I have child policy for my child which is very good and the insurer is shriram life insurance. The policy has many benefits like good investments for future and it save taxes also. Policy coverage is 89% and the claims are around 36 L after policy ends. Fair Terms and Conditions. I'm satisfied with it.
Pilani, May 11, 2016
Interest Is High
The best child plan i bought from shriram life insurance and the policy is awesome. The policy coverage is 92% and the claims are 39 L after policy get mature. The investment is low and the returns are high. Good future plan with tax protection. Service you provided is very quick and on time. Fantastic future investment with great interest.
Mohali, May 11, 2016
Satisfactory Policy
I have shriram life child plan. Policy coverage is good 88% but the premium is low. Service provided is bit slow and claims are good and Rs.31 L is the amount i get after policy get end. The updates regarding policy is send to me regularly. I just wanted to say that satisfactory policy plan.
Udaipur, May 11, 2016
Very Good
I purchase child policy plan by shriram life insurance. Policy coverage is 81% and the claims are high. Premium is low and the services are fast and with great response from executives and staff members of the company. Good future investment and it saves taxes. The executives and staff members behave well with there customers.
Saharanpur, May 11, 2016
Purchase shriram life pension plan and the benefits are many. Policy coverage is good 86% and the payback amount is 35 L when policy ends. Claims are easily get due to great services facilitate by executives of the company. Nice future investment and it saves taxes also. The policy terms and conditions are very reliable, it make me very happy.
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