Shriram Life Insurance

Why Buy Shriram Life Insurance?

Shriram Life Insurance is a company you can trust, that is easy to reach, and that protects you. The Shriram Group has a long history with the company, which is known for providing affordable and accessible insurance to millions of Indian families, especially those living in rural and semi-urban areas. Here's why it's smart to buy Shriram Life Insurance:

• More than 9 crore families in India trust the company.

• Making people rich for more than 20 years

• Taking care of assets worth ₹13,207 crore

• 537+ branches in India make it easy to get help and support.

• Solvency ratio of 1.79 shows that the company is financially stable. The death claim settlement ratio for FY 2024–25 is 98.31%.

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

Shriram Life Insurance Term Plans

Shriram Life Insurance offers Term insurance plans that are affordable ways to protect your family's finances in case you die unexpectedly. These plans from Shriram Term Insurance are great for people who want affordable life insurance because they offer a lot of coverage for a low cost.

Term Plans Offered by Shriram Life Insurance Company are:

Shriram Life Savings Plan

Shriram Life Insurance has traditional savings plans that guarantee returns at regular intervals. These plans can help you reach your long-term financial goals with confidence. These plans also improve your life insurance by adding optional riders and giving you tax breaks according to the current income tax laws.

Savings Plans Offered by Shriram Life Insurance Company are:

Shriram Life Insurance Retirement Plans

Shriram Life Insurance retirement plans are made to make sure you have a steady income even after your regular job ends. You can build up a nest egg over time with these pension plans, which will help you have a safe and stress-free retirement.

Retirement Plans Offered by Shriram Life Insurance Company are:

Shriram Life Insurance Child Plans

Child Life insurance plans offered by Shriram Life Insurance are designed to cover children's financial goals and ambitions after maturity. Various types of child plans offered by Shriram Finance are

Critical Illness Cover Under Shriram Life Insurance

Shriram Life Insurance offers a Critical Illness Rider that provides financial protection if you are diagnosed with a serious health condition. If you get cancer, have a heart attack, a stroke, or kidney failure, this rider will pay you a set amount. You can use the money to pay for treatment, things you need to get better, or everyday household costs when times are tough.  

How Much Life Insurance Cover Do You Need?

Choosing the right life cover is important because it directly impacts your family's financial security in your absence. One rule that many follow is keeping the sum assured at about 10 to 20 times one's annual income. This would cover daily living expenses, pay off any pending loans, and also enable your family to achieve long-term goals that you had set. If you earn ₹10 lakh per annum, for example, then getting cover close to ₹2 crore will help your family get through life without financial stress.

This is easier done with Shriram Life's Human Life Value Calculator, which shall estimate the right cover considering your income, dependents, and existing financial responsibilities.

Choose the Right Sum-Assured Option

When buying a Shriram Life Insurance plan, select a sum assured that aligns with your financial responsibilities and long-term goals. Shriram Life offers flexible coverage options across its term, savings, and child plans—so you can balance affordability with adequate protection.

Benefits of Shriram Life Insurance Plans

• Protecting Your Family's Money
  Shriram Life Insurance plans will help your family if something happens to you. The money can help with everyday expenses like rent, bills, and school for your kids, so your loved ones don't have to worry about money during a hard time.

• Savings plans that help you build wealth over time
  Shriram Life's savings and endowment plans help you steadily grow your money over time. These plans are good for long-term goals like paying for a child's education, buying a home, or planning for retirement because they come with guaranteed benefits and bonuses.

• A trustworthy process for settling claims
  Shriram Life has a clear and timely process for settling claims. This focus on settling real claims quickly has helped the insurance company gain the trust of its policyholders.

• Plans for every stage of life
  The company sells a wide range of insurance products, such as term insurance, savings plans, child plans, retirement solutions, and group insurance. This makes it easier to find a plan that works with your age, income, and goals for the future.

• Reasonably priced premium options
  Shriram Life Insurance plans are known for keeping premiums low, which is great for families on a tight budget and people who live in rural areas. These plans give you good life insurance coverage and a good sum assured without putting too much stress on your monthly budget.

• 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.

Why Buy 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: Go to the official website of Shriram Life Insurance Company.

Step 2: Click on "Customer Service" at the top of the home page, and then choose "Support Inquiry."

Step 3: Enter all the necessary information, including your name, phone number, email address, and policy number.

Step 4: After the policyholder sends in the inquiry form, they will get information about the Shriram life insurance policy, like the policy status, the due date for the premium, the amount of the last premium received, and the amount of the premium due.

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:

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.

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

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.

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 fill out the application form.

Step 2: Enter basic information like your name, age, gender, mobile number, and country. Then, to see personalized plan options, click "View Quotes."

Step 3: Review quotes from the top insurance companies. Pick a company with a high claim settlement rate, good customer service, and an easy claims process.

Step 4: Choose the policy term and sum assured that will best meet your family's needs and financial goals. Make sure that the premium is within your budget.

Step 5: Pay your premium and finish your purchase by paying it online with safe payment methods. Then, you'll get the policy document.

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 and easy claim settlement process that makes sure your family gets the policy benefits without any complications. With a CSR of 98.09% in FY 2023–24, Shriram Life Insurance Company continues to earn customers' trust by quickly resolving claims.

How to Settle a Claim Step by Step

Step 1: File the Claim

Go to the Shriram Life Claim Center

Press the "Intimate Claim" button

Choose the type of claim from the drop-down menu. For example, death, critical illness, disability, or health.

For death claims, fill out the details of the insured person, including the cause of death.

Step 2: Enter the Claimant's Information and Upload Documents

Fill out the claimant's bank account and personal information.

Upload all the documents you need such as:

• Original policy paper

• Death certificate from the local or municipal government

• Death claim form (Form A) that has been properly filled out

• 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

Step 3: Review the documents and process the claim

The claims department will look over all the papers that were sent in.

If everything is in order, you will hear back about the claim decision within 15 days.

Step 4: Settle the Claim

If the claim is approved, the money goes straight to the nominee's bank account.

Documents that must be present:

Original policy paper

Death certificate from the local or municipal government

Death claim form (Form A) that has been properly filled out

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