Shriram Life Early Cash Plan

The Shriram Life Early Cash Plan is a life insurance policy designed to provide financial security with periodic cash payouts. This plan offers life coverage along with regular payouts, making it a suitable option for those seeking a combination of security and liquidity.

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What is Shriram Life Early Cash Plan?

The Shriram Life Early Cash Plan is an investment policy designed to provide both protection and periodic cash benefits. It combines insurance protection with regular income, offering you the benefit of liquidity during the policy term. This best investment plan allows you to receive cash benefits at specific intervals, ensuring you have funds available for significant life events or unforeseen expenses.

Features of Shriram Life Early Cash Plan

  • Flexible Premium Payments: The Shriram Life Early Cash Plan allows you to choose from multiple premium payment modes, making the process hassle-free.

  • Power of Compounding: This investment option takes advantage of compounding, which means that the declared bonuses grow over time, increasing the overall value.

  • Guaranteed Cash Bonus: The Shriram Life Early Cash Plan guarantees a cash bonus of at least 3.5% of the sum assured every year throughout the plan's term.

  • 2 Bonus Options: The plan offers two bonus structures. 

    • The "Early Cash" option provides you with an annual income via cash bonuses.

    • The "Super Growth" option accumulates cash bonuses until the policy matures, offering a larger payout at the end.

  • Insurance from Age 3: This plan offers life insurance coverage starting from just three years of age, providing comprehensive financial protection to minors.

  • Life Cover: The plan provides a life cover, ensuring financial security for the beneficiaries in the event of the insured person's death.

People also read: Child Education Plan

Eligibility Criteria of Shriram Life Early Cash Plan

Eligibility Criteria Details
Entry Age 3 – 55 years
Maturity Age 18 – 70 years
Policy Term (PT)  10/ 12/ 15 years
Premium Payment Term (PPT) 
  • 10-Year PT: 6 years;
  • 12-Year PT: 6/ 8/ 10 years;
  • 15-Year PT: 8/ 10/ 15 years.
Premium Payment Mode Annually/ Semi-annually/ Quarterly/ Monthly
Available Rider Options
  • Accident Benefit Rider
  • Family Income Benefit Rider
  • Shriram Extra Insurance Cover Rider
  • Shriram Critical Illness Plus Rider
Minimum Sum Assured Rs. 1,50,000

People also read: Shriram Life Child Plans

Benefits of Shriram Life Early Cash Plan

  1. Death Benefits:

    If the policyholder passes away, the plan provides the death sum assured along with any cash and terminal bonuses. For those with the Early Cash option, there is also an annual income payout to beneficiaries.

  2. Maturity Benefits:

    If the policyholder completes the term of the plan, they receive the sum assured, cash bonuses, and any terminal bonuses, effectively ending the policy.

  3. Tax Deductions:

    Premiums paid into the Shriram Early Cash Plan can be deducted from your taxable income under Section 80C of the Income Tax Act, 1961. Maturity returns earned at the end of the policy term are tax-free under Section 10(10D) of the Income Tax Act, 1961.

    People also read: Child Investment Plans

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Rider Options in Shriram Life Early Cash Plan

Shriram Life Early Cash Plan offers several rider options to enhance your base policy coverage. These riders provide additional benefits for an extra premium amount. Following is the list of available rider options:

  1. Accident Benefit Rider:

    This rider pays out a predetermined sum assured to your nominee in case of accidental death or permanent disability caused by an accident [Source 3].

  2. Extra Insurance Cover Rider:

    This rider provides additional life cover in case of your demise. The sum assured amount will be paid to your nominee along with the base plan benefit [Source 3].

  3. Family Income Benefit Rider:

    This rider offers financial support to your family in case of your accidental death or permanent disability. In such an event, your family will receive a monthly income of 1% of the sum assured throughout the remaining policy term [Source 3].

  4. Critical Illness Plus Rider:

    This rider provides a lump sum benefit of 100% of the rider sum assured if you are diagnosed with any of the 24 critical illnesses covered under the policy terms [Source 3].

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Standard T&C Apply *

Policy Details of Shriram Life Early Cash Plan

  1. Free Look Period

  2. The time frame after buying a policy is when you can review its terms and conditions.

  3. During this period, you can cancel the policy for any reason and receive a refund, typically within 15 days of receiving the policy document.

  4. Grace Period

  5. A set period after the premium due date, during which you can pay without penalty.

  6. For the Shriram Life Early Cash Plan, this is usually 30 days for annual premiums and 15 days for monthly premiums.

  7. Policy Surrender Value

  8. The amount you receive if you choose to terminate the policy before it matures.

  9. This value depends on factors like the policy's term, the number of premiums paid, and the duration for which it has been in force.

  10. Policy Lapse

  11. This occurs when you fail to pay the premium within the grace period.

  12. A lapsed policy loses its benefits and coverage.

  13. Policy Revival

  14. A process to reactivate a lapsed policy.

  15. Usually allowed within a specified timeframe, often up to two years from the date of lapse, subject to payment of all due premiums plus interest and sometimes medical underwriting.

  16. Paid-up Value Criteria

  17. If a policy lapses after a certain number of premium payments (typically two or three), it may become a paid-up policy.

  18. A paid-up policy retains a reduced sum assured and continues until maturity with no need for further premiums.

People also read: Government Schemes for Girl Child

How Does the Shriram Life Early Cash Plan Work?

Step 1: Research the plan details in the brochure, focusing on cash benefits and sample illustrations. 

Step 2: Calculate potential returns considering maturity benefit, survival benefit impact, and fees. 

Step 3: Estimate the rate of return using online tools or Child Plan Calculator

Step 4: Compare with similar investment products based on your goals and risk tolerance. 

Step 5: Refer to the Policybazaar website and consult its financial advisors for personalized advice and risk assessment.

Suicide Exclusion under Shriram Life Early Cash Plan

The Shriram Life Early Cash Plan has a suicide exclusion clause, where if the policyholder dies by suicide within one year of the policy's start date, the beneficiaries will not receive the full benefit. Instead, the insurer will refund the premiums paid minus any expenses and costs incurred by the company. This clause is designed to prevent misuse of the insurance policy.


  • What is the Shriram Life Early Cash Plan?

    Shriram Life Early Cash Plan is a savings plan with life insurance that offers guaranteed cash bonuses, a death benefit, and potential tax benefits.
  • Who is eligible for the Shriram Life Early Cash Plan?

    Generally, healthy individuals between 3 and 70 years old can qualify to buy the Shriram Life Early Cash Plan.
  • What are the policy term options in the Shriram Life Early Cash Plan?

    You can choose terms of 10, 12, or 15 years under the Shriram Life Early Cash Plan.
  • How do I receive the cash bonus in the Shriram Life Early Cash Plan?

    There are two options within the Shriram Life Early Cash Plan:

    • Early Cash: Receive annual income throughout the policy term.

    • Super Growth: Accumulate cash bonuses and receive them at maturity.

  • What is the minimum sum assured under the Shriram Life Early Cash Plan?

    The minimum sum assured in the Shriram Life Early Cash Plan is Rs. 1,50,000.
  • Is there a grace period for missed premiums?

    Yes, there is a grace period of 15 days for monthly payments and 30 days for yearly, half-yearly, or quarterly payments.
  • What happens if I cancel the policy within the free-look period?

    You can cancel your Shriram Life Early Cash Plan policy within 15 days of purchase and receive a full premium refund.

*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.

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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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