Shriram Life Insurance

Shriram Life Insurance Company Overview

Shriram Life Insurance Company Limited is part of the renowned Shriram Group, which was founded on April 5, 1974, by R. Thyagarajan, AVS Raja, and T. Jayaraman. Headquartered in Hyderabad, the company focuses on serving India's rural and semi-urban population. It was established as a joint venture between Shriram Group and South Africa-based Sanlam Group.

Shriram Life began its insurance operations in 2006 and has since built a strong reputation for delivering affordable and inclusive life insurance solutions. Staying true to its mission of financial inclusion, the company offers a variety of products such as term insurance, savings plans, child plans, and group insurance schemes — many of which are explicitly tailored for underserved and economically vulnerable sections of society.

The company is known for its efficient claim settlement ratio and customer-centric approach. Leveraging the strong financial foundation of the Shriram Group, which also includes businesses like Shriram Transport Finance and Shriram City Union Finance, Shriram Life has created a distribution network that extends deep into India's rural heartland.

Over the years, the company has remained committed to ensuring that even the most remote communities have access to life protection and financial security.

Key Highlights of Shriram Life Insurance Company

Benefits of Shriram Life Insurance Plans

•  Financial Security for Your Family:
  Shriram Life Insurance offers a wide range of plans that ensure your loved ones are financially protected in case of your untimely demise. The death benefit can help your family manage essential expenses like rent, education fees, daily living costs, and other obligations.

• Wealth Creation with Savings Plans:
  Shriram Life's traditional savings and endowment plans help you build a financial corpus over time. These plans offer guaranteed returns and bonuses, helping you meet long-term goals like a child's education, home purchase, or retirement.

•  Competitive Claim Settlement Ratio:
  Shriram Life has maintained a healthy and transparent claim settlement process, ensuring that genuine claims are settled promptly. This reliability makes it a trusted name among policyholders.

• Wide Range of Insurance Products:
  Shriram Life Insurance provides various products, including term plans, savings plans, child plans, retirement solutions, and group insurance schemes. This variety allows customers to choose a plan that matches their financial needs and life stage.

• Affordable Premiums:
  Shriram Life Insurance is known for offering cost-effective life cover, especially for rural and economically weaker sections. These plans provide significant value with high sum assured options at low premiums.

• Tax Benefits:
  Shriram Life Insurance plans offer tax benefits on premiums paid and the maturity/death benefits under sections 80C and 10(10D) of the Income Tax Act, 1961, as per prevailing tax laws.

Types of Shriram Life Insurance Plans

Shriram Life offers a wide range of life insurance policies, from term to unit-linked plans, with several features and benefits. All these plans are designed to meet the budget and different customers' requirements. The Shriram Life Insurance plans list includes:

• Term Life Insurance Plans

• Investment-linked Life Insurance Plans (ULIP)

• Pension Life Insurance Plans

• Endowment Life Insurance Plans

• Savings Plans

• Child Life Insurance Plans

1. Shriram Life Insurance Term Plans

   Term insurance plans offered by Shriram Life Insurance are affordable protection solutions designed to ensure financial security for the policyholder's family in case of an untimely demise. These plans offered by Shriram Term Insurance are designed to provide high coverage at low premiums, making them ideal for individuals seeking cost-effective life cover.

   Term Plans Offered by Shriram Life Insurance Company are:

   Shriram Term Insurance Plans	Entry Age	Maximum Maturity Age	Policy Tenure
   Shriram Life Online Term Plan	18-55 years	75 years	10-57 years	Apply Now
   Shriram Life Cash Back Term Plan	12-50 years	70 years	10-25 years	Apply Now
   Shriram Life Family Protection Plan	18-60 years	75 years	10-25 years	Apply Now
   Shriram Life Smart Protection Plan	18-65 years	70 years	1-30 years	Apply Now
   Shriram Life Smart Protection Plan SP	18-65 years	75 years	6 months to 10 years	Apply Now

2. Shriram Life Savings Plan

   Shriram Life Insurance offers traditional savings plans that provide guaranteed returns at regular intervals, helping you confidently achieve your long-term financial goals. These plans also enhance your life cover by adding optional riders and offering tax-saving benefits per the prevailing income tax laws.

   Savings Plans Offered by Shriram Life Insurance Company are:

   Shriram Life Savings Plans	Entry Age	Maximum Maturity Age	Policy Tenure
   Shriram Life Assured Income Plan	30 days-55 years	70 years	8 / 10 / 12 / 15 years	Apply Now
   Shriram Life Early Cash Plan	3-55 years	70 years	10 / 12 / 15 / 20 years	Apply Now
   Shriram Life Premier Assured Benefit Plan	0 days-50 years	70 years	10-20 years	Apply Now
   Shriram Life Assured Savings Plan	30 days- 60 years	75 years	10-25 years	Apply Now
   Shriram Life Wealth Pro Plan	30 days- 65 years	75 years	10-30 years	Apply Now
   Shriram Life Assured Savings Plan	3-55 years	65 years	7,10,15 years	Apply Now

3. Shriram Life Insurance Retirement Plans

   Shriram Life Insurance retirement plans are designed to ensure a steady income even after your regular salary stops. With these pension plans, you can build a financial corpus over time, enabling a secure and stress-free retirement.

   Retirement Plans Offered by Shriram Life Insurance Company are:

   Shriram Life Retirement Plans	Entry Age	Maximum Maturity/Vesting Age	Policy Tenure
   Shriram Life Assured Income Plan	30 days-55 years	70 years	8 / 10 / 12 / 15 years	Apply Now
   Shriram Life Early Cash Plan	3-55 years	70 years	10 / 12 / 15 / 20 years	Apply Now
   Shriram Life Saral Pension	40-80 years	–	Whole Life	Apply Now
   Shriram Life Pension Plus	20-80 years	40-80 years	10-35 years	Apply Now
   Shriram Life Immediate Annuity Plus	0-85 years	No Maturity Age	Whole Life	Apply Now

4. Shriram Life Insurance Child Plans

   Child Life insurance plans are designed to cover children's financial goals and ambitions post-maturity. This could be for any financial objective, such as higher education or marriage. Various types of child plans offered by Shriram Finance are

   Shriram Life Child Plans	Entry Age	Maximum Maturity/Vesting Age	Policy Tenure
   Shriram Life Assured Income Plan	30 days-55 years	70 years	8 / 10 / 12 / 15 years	Apply Now
   Shriram Life Early Cash Plan	3-55 years	70 years	10 / 12 / 15 / 20 years	Apply Now
   Shriram Life New Shri Vidya Plan	18-50 years	–	10/15/20/25 years	Apply Now

Online Life Insurance Plans from Shriram Life Insurance

Shriram Life Insurance lets you buy insurance plans online through its website. This makes the process not just quick, but also simple and transparent. Here are some key benefits of purchasing plans online:

• Lower Cost
  You can buy plans directly without any agent or middleman. This means no commission charges, so the premium is lower.

• Higher Insurance Cover
  Since the company saves money on extra charges, it can offer more coverage to people who buy plans online.

• Full Transparency
  The website clearly shows all plan details, like features, terms, and benefits, and allows you to track and manage your policy easily anytime.

• Easy Comparison
  You can compare different plans based on benefits, prices, and company reviews—all in one place. This helps you choose the best plan for your needs.

• Convenient and Fast
  Buying insurance online is simple. After comparing, you can complete the process in just a few steps, anytime, from anywhere.

How to Check Shriram Life Insurance Policy Status?

The policyholder can check the Shriram Life Insurance policy status online by submitting the enquiry application form. Following is a step-by-step guide to check the policy status: 

Step 1: Visit the official website of Shriram Life Insurance Company 

Step 2: On the top side of the home page, click on customer service, and select support enquiry. 

Step 3: Fill in all the required details such as name, mobile number, e-mail address, and policy number. 

Step 4: After submitting the enquiry form, the policyholder will receive details about the Shriram life insurance policy, such as the policy status, premium due date, premium dues, and the last premium amount received. 

Step 5: The policyholder is required to select the preferred time slot so that the customer care can contact 

You can also check Shriram Policy status by calling their customer number or via email or SMS. 

• Check Shriram Life Insurance Policy Status by SMS: The policyholder can get the Shriram Life Insurance Policy Status by sending SMS, STAT<SPACE>policynumber to 8179696969

• Check Shriram Life Insurance Policy Status by calling on their customer care, at 1800-3000-6116

• Check Shriram Life Insurance Policy Status by sending an email at customercare@shriramlife.in

How to Contact Shriram Life Insurance Company

If you need assistance with your Shriram Life Insurance policy, In that case, whether it's a service request, premium inquiry, or to buy a new policy, the company offers multiple easy-to-access channels:

1. Head Office Address

   Shriram Life Insurance Company Limited,

   Ramky Selenium, Plot No: 31 & 32, Besides Union Bank Training Centre, 

   Financial District, Gachibowli, Hyderabad – 500032, Telangana, India.

2. Toll-Free Shriram Life Insurance Customer Care Numbers

   • Customer Support: 1800-103-6116

   • Agent Helpline: 1800-103-2671

   • Buy a New Policy: 1800-103-7401

3. Other Ways to Reach Shriram Life

   • WhatsApp Support: +91-9015502000

   • Email: customercare@shriramlife.in

   • Branch Locator: Visit the official website to find your nearest branch.

4. SMS Services for Policy Information

   Send an SMS to 9246033344 with the following keywords:

   • Premium Dues: DUES <space> [Policy Number]

   • Policy Status: STAT <space> [Policy Number]

   • Last Premium Received: LPRT <space> [Policy Number]

   • Due Date Info: DDAT <space> [Policy Number]

   Shriram Life Insurance ensures prompt customer support through all these touchpoints, making policy management convenient and accessible.

How to Buy a Life Insurance Plan from Policybazaar?

Step 1: Go to the official Policybazaar Life Insurance page and begin the application process.

Step 2: Fill Out Basic Details such as your name, age, gender, mobile number, and country. Then click on 'View Quotes' to see personalized plan options.

Step 3: Review quotes from top insurers. Choose a company with a strong claim settlement ratio, reliable customer support, and a smooth claims process.

Step 4: Based on your financial goals and family needs, choose your preferred policy term and sum assured. Ensure the premium fits comfortably within your budget.

Step 5: Submit all necessary documents, such as identity proof, address proof, and income proof, for verification.

Step 6: Complete your purchase by paying the premium online through secure payment options. Once done, you'll receive the policy document digitally and via courier.

Documents Required To Buy HDFC Life Insurance

• Government-approved identity proofs: Aadhar card, PAN card, passport, voter ID, driving license, etc.

• Address proof: PAN card, Adhaar card, driving license, voter ID, passport, etc

• Proof of income: Salary income, ITR/Form 16, bank statement, audited company accounts of last 3 years, CA certificate, rent receipts, mandi receipts, indian/foreign bank statements

• KYC documents: Insurance policy contracts with companies, insurance contracts with partnership firms, insurance contracts with trusts and foundations, insurance contracts with HUFs

What is the Claim Settlement Process of Shriram Life Insurance Company?

Shriram Life Insurance offers a simple, transparent, and hassle-free claim settlement process, ensuring that your family receives the policy benefits without unnecessary delays during a difficult time. With a high Claims Paid Percentage of 98.09% in FY 2023–24, Shriram Life Insurance Company continues to build trust through efficient claim resolutions.

1. Step-by-Step Claim Settlement Process

   Step 1: Report the Claim

   • Visit the Shriram Life Claim Centre

   • Click on the "Intimate Claim" button

   • Select the type of claim from the dropdown (e.g., Death, Critical Illness, Disability, Health)

   • Fill in the insured person's details, including the cause of death (for death claims)

   Step 2: Fill in Claimant Details and Upload Documents

   • Complete the claimant's personal information and bank account details

   • Upload all the required documents (see below)

   Step 3: Document Review & Claim Processing

   • The claims department will review all the submitted documents

   • If everything is in order, the claim decision will be communicated within 15 days

   Step 4: Claim Settlement

   • Once approved, the claim amount is transferred directly to the nominee's bank account.

2. Documents Required for Death Claim

   Mandatory Documents:

   • Original policy document

   • Death certificate (issued by municipal/local authority)

   • Duly filled death claim form (Form A)

   Supporting Documents (as applicable):

   • ID, age, and address proof of the nominee
     Nominee's bank passbook copy or cancelled cheque with pre-printed name

   • Proof of relationship with the deceased policyholder

   • Medical/hospital records (if applicable)

   • FIR and post-mortem report (in case of accidental death)

   • Other forms (Form B, C, E) if requested

FAQs