Shriram Life Insurance

Shriram Life Insurance being one of the key insurance provider in rural market, made a distinctive achievement of achievement profit within 3 years of inception. The diverse insurance plans offered are best suited to cater the need of insurance for mass public & economically weaker section of society.

About Shriram Group

Shriram Group is a financial services corporation founded on April 5, 1974 by Ramamurthy Thyagarajan, AVS Raja and T. Jayaraman. Shriram life insurance has their headquarters in Chennai, Tamil Nadu, India. Shriram group did chit funds business before launching their group business and later on came into the lending business in a big way through Shriram Transport Finance (Commercial Vehicle Finance) and Shriram City Union Finance (Consumer and MSME Finance).R. Thyagarajan also won Padma Bhushan award in 2013.

Some of the group companies of Shriram are -  Shriram Chits Tamil Nadu Pvt Ltd , Shriram City Union Finance Ltd., Shriram EPC, Shriram Properties Pvt. Ltd., Shriram Fortune Solutions Ltd., SHRIRAM chits, Shriram Financial Services Ltd., Shriram Housing Finance Ltd., Shriram Asset Management Company Limited., Shriram Foundation., Shriram Capital., Shriram Distribution services., Shriram Venture Ltd., Shriram Equipment Finance Co. Ltd., Shriram Insurance Broking Ltd., Shriram Automall India Ltd., Shriram Industrial Holdings Ltd., Shriram SEPL Composites Pvt. Ltd, Shriram Life Insurance,  Shriram General Insurance, Shriram Transport Finance. 

Shriram Life Insurance Plans

• Child Life Insurance Plans
• Term Life Insurance Plans
• Pension Life Insurance Plans
• Investment linked Life Insurance Plans (ULIP)
• Combi Life Insurance Plans
• Endowment Life Insurance Plans
• Group Life Insurance Plans
• Micro Life Insurance Plans
• Savings Plans
• Women Life Insurance Plans

Shriram Life Insurance Child Plans

Child Life insurance plans are need based insurance cover primed for achieving the financial goals and ambitions of children post maturity. This could be for any financial objective such as higher education, marriage. Various type of child plans offered by Shriram finance are

New Shri Vidya Plan

An investment cum insurance based plan from Shriram Life Insurance with maturity benefit and regular surge of monthly income in the event of death of on death to compensate any monetary losses.

New Shri Vivah Plan

An reasonable premium based insurance plan from Shriram Life Insurance with double protection and regular monthly source of income in case of any misfortune event.

Shriram Life Insurance Term Plans

This is low cost insurance plan which has been exclusively premeditated to provide economical constancy and protection to the insurer’s family, in the event of any misfortune in future.

Shriram Life Cash Back Term Plan

A simple and hassle free cover plan at affordable premium. In case of fateful event such as death, a lump sum payment is paid towards the financial assistance to insurer’s family. The death benefits are offered @ 10 times annual premium if age is less than 45 years and 7 times annual premium if age is 45 years and above

Shriram Group Term Life Insurance

A One Year Renewable Group Term Assurance plan incorporated with the death benefit on lump sum payment or monthly regular payment to insurer’s family members. The plans come with a wonderful feature of setting up and monitor the schemes at a low cost.

Shriram Group Term Life Insurance in lieu of EDLI

A substitute to Group Term Life Insurance with enhanced life insurance benefit to all employees irrespective of their PF balances, salary level and service.

Shriram Life Secure plus Plan- a plan premeditated to cater the need of financial obligation or debt of the insured’s family in the event of any misfortune. The sum assured is paid in lump sum to the family of insured after his death. The other features include Maturity sum assured & 105% of the premiums paid till the date of death

Shriram Life Insurance Pension Plans

To make life enjoyable even after retirement from work, Shriram life insurance Pension plans are the perfect financial tools. It gratifies the financial obligations, once the regular source of income is discontinued post retirement.

Shriram Immediate Annuity Plan

A Traditional Life Insurance plan from Shriram life insurance to keep the stream of regular income flowing for lifetime and offers return of sun assured in the event of death of the life insured.

Shriram Life Insurance ULIP Plans

Shriram Investment Life Insurance Plans are best suited product for those who want to earn through systematic investment in capital market and avail the benefit of insurance protection at the same time.

Wealth Plus

A Unit Linked Insurance Plan that provide the insurance cover against any misfortune event in future along with the joy of rewarded earning through investment. The key highlights of this plan from Shriram life insurance are short premium payment term and auto transfer and switch options to alleviate the risk on investment capital.

Fortune Builder

A unit linked insurance plan with lump sum premium payment option. The plan ideal for those who cannot make premium payment on a fixed interval and hence can have complete peace of mind for insurance need by paying a single premium amount.

Ujjwal Life

A unit linked regular premium insurance plan for those who wants to achieve a long term financial objective such child’s education, marriage in family or post retirement financial needs.

Ujjwal Life (sp)

The plan is an extension of Ujjwal Life plan with the feature of single premium payment mode. Apart from the Dual benefit of market linked return and insurance protection under one umbrella, the plan offer six different fund option for investment as per risk appetite.

Shriram Combi Life Insurance Plans

Combi Life Insurance Plans are comprehensive insurance plans from Shriram life insurance premeditated to cater the needs of both life and health protection cover. Various type of Combi Life Insurance Plans offered by Shriram finance are

Star Shri Family Care

In today’s age we all are vulnerable towards life threatening diseases and the swelling medical expenses. Star Shri Family Care offers complete coverage for our life and take care of healthy expenses at the same time. The benefits include regular hospitalization benefits on floater basis and provides lump sum assured payment in the event of death

Star Shri Individual Care

In partnership with Star Health and Allied Insurance Co. Ltd., this plan assures all medical expenses such as Hospitalization Cover, nursing, surgeon expenses all are taken care of while a sum assured in integrated  in the event of death of person insured.

Shriram Life Insurance Endowment Plans

Shriram Endowment Life Insurance Plan is a unique combination of triple benefit of saving, insurance and tax benefits with assured return. Various type of endowment plans offered are

New Shri Life

A participating endowment plan from Shriram life insurance offering systematic savings option and unswerving protection cover against any misfortune event in future. Apart from enhanced return on investment due to compounding reversionary bonuses, the plan proffer return on maturity as well.

New Shri Raksha

A non-linked participating plan from Shriram life insurance with integrated double insurance protection during the term and traditional life coverage after the maturity of plan term. Sum assured on survival is another luminous benefit of the plan.

New Shri Vidya

An Endowment plan from Shriram life insurance designed to accomplish the dream of children. Adjustable survival benefit as per the financial requirement of child’s education and insurance cover for continuity of education in event of any misfortune event of any calamity are the key advantage  of the plan.

New Shri Vivah

An Investment based plan from Shriram life insurance to make the marriage of our loved one most memorable of their life. With expert guidance from Shriram insurance the financial requirement for marriage is taken care of.

Shriram Group Life Insurance Plans:

To strengthen the relationship of Employer and employee and other groups with members under same set of contract, Shriram Group Life Insurance Plans are best suited product. The group insurance is most cases are a part of employee benefit package, wherein the major chunk of premium is paid by the employer or company.

Eligibility of Group plans

• Employer- Employee Group
• Creditor- Debtor Groups
• Professional Groups
• Miscellaneous Groups such as SHC etc.

Various Group plans offered by Shriram Life Insurance company are

• Shri Sahay (Annual premium / Special Premium)
• Group Term Life Insurance
• Group Life Protector (SP)
• New Group Gratuity
• Group Term Life Insurance
• Shriram Life Group Traditional Employee Benefit Plan
• Shriram Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Shriram Micro Life Insurance Plans

Micro Life Insurance Plans are designed to meet the insurance requirement of those who cannot afford the regular premium plans due to their financial limitations.

Various type of plans under this category are

Shri Sahay

A Micro Insurance plan from Shriram life insurance offered in two premium variants as single premium or special premium (one time ). The premium is paid either one time or for particular term , however offers insurance cover for life time to the weaker section of society.

Shriram Grameena Suraksha

A non linked non participating term insurance plan from Shriram life insurance which provides insurance cover to the rural segment of economy at an affordable premium.

Shriram Life Insurance Savings Plans

The convention & comfort Savings is an integral part of financial planning for most of the Indian Consumers. At Shriram Life insurance, the products for saving cum insurance plans are tailor-made to encourage the same.

New Shri Life

A participating endowment plan offering systematic savings option and unswerving protection cover against any misfortune event in future. Apart from enhanced return on investment due to compounding reversionary bonuses, the plan proffer return on maturity as well.

New Shri Raksha

A non-linked participating plan from Shriram life insurance with integrated double insurance protection during the term and traditional life coverage after the maturity of plan term. Sum assured on survival is another luminous benefit of the plan.

New Shri Vidya

An Endowment plan from Shriram life insurance designed to accomplish the dream of children. Adjustable survival benefit as per the financial requirement of child’s education and insurance cover for continuity of education in event of any misfortune event of any calamity are the key advantage  of the plan.

New Shri Vivah

An Investment based plan from Shriram life insurance to make the marriage of our loved one most memorable of their life. With expert guidance from Shriram insurance the financial requirement for marriage is taken care of.

New Akshay Nidhi Plan

A savings cum investment plan from Shriram life insurance with triple benefit of savings, investment and insurance. The plan offers periodical survival benefits apart from the maturity and death benefits.

Shriram Secure Investment Plan

A onetime investment cum insurance plan from Shriram life insurance with double benefit of life protection and earning on capital investment. Customer can avail the tax benefit as per IT rules.

Shriram Women Life Insurance Plans:

Shriram insurance salutes the spirit of womanhood by offering customized options in their bouquet of plan. The options are provided basis the category to which they belong i.e.

• Working women, who have a regular source of income.
• Women who gets their earnings via various interests, rent, dividend, etc. Their incomes from these sources are also taxable.
• Home-makers, who do not have any fixed source of regular income.
• Term Insurance Plans: the traditional plans to offer financial protection to self and the family. Part from protection cover on life, it ensures the life of family and other dependents is unscathed even when they are not around.
• Retirement Insurance Plans: for working women, to lead a contented and pleasant life style even post retirement. Retirement Insurance Plans make certain the financial obligation such as medical expenses etc are not a matter of fret after the regular income source is clogged.
• Child Insurance plans: Being a mother, brings higher degree of responsibility and Child Insurance plans in Shriram insurance for women share the load of this responsibility. All the way from their higher education to daughter’s marriage and any further expenses, every bend of expenses is taken care of.
• Health Insurance Plans: Different kinds of health insurance plans have been designed to especially cater to women’s health requirements. These insurance plans provide cover for a wide range of critical illnesses for singles mothers, working mothers, single ladies and married women. There are also other insurance plans that offer cover for personal accident and risks pertaining to travelling.

Online Life Insurance Plans from Shriram Life Insurance

Shriram insurance offers online platform for the purchase of plans online. Enrolling plans online are not hassle free process, but it also brings transparency into the entire process. Some of the key benefits of online conscription of Shriram life insurance plans are

• Lower enrollment cost as the customer can enroll directly without the involvement of any third party .As there are no intermediaries the commission charges are not applied on the cost of purchasing the plans.
• Larger Cover: Because of the lesser add-on costs on the company, it provides more insurance coverage to the online policy buyer in comparison to the one who buys plans via traditional methods.
• Greater Transparency: Policyholder can review their plans periodically and monitor them. All the access all the information regarding the insurance plan such as its terms and conditions, features, etc., is duly placed on the company’s website. They can also compare between various plans and features with the help of information available, making the evaluation more accurate and easier.
• Multiple option and easy comparison: The buyer can compare instantly amongst various plans based on the past records of the insurance company and the collective experience of the people and then choose the best suited plan as per their requirement
• More opportune and tranquil: It is relatively much uncomplicated to buy an insurance plans online. Post evaluation, one can buy plans with few steps and clicks.

Other Online facilities from Shriram life Insurance

• Online renewal of policies
• Premium payment online
  • Calculators such as
• Premium Calculator
• Human Life value calculator
• Minimum life value calculator

Other offline premium payment modes

• Payment at the Shriram insurance branches
• Payment of premium at AXIS Bank branches
• NEFT
• ECS
• Payment via mobile

Shriram Life Insurance - FAQ

1. How to pay a premium? What are the modes of payment available?

Shriram Life Insurance Company offers 6 modes of premium payment namely:

• Cash payment at the branch
• 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

2. How can I check policy status?

To check policy status you can log into the e-portal with your valid credentials.

3. What is the policy renewal process?

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

4.What is the company’s process to settle claim?

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.

5.What is the policy cancellation process?

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.

Shriram Life Insurance - Latest News

Shriram Life Insurance Eyes Network Expansion in North India

Shriram Life Insurance is expanding its network of branches in the northern region of the country, aiming at driving the business growth significantly. The company intends to offer attractive plans to the people in these regions to help its business grow. In total, the number of branches to be opened all over India is 75 out of which 32 are planned to be in the northern region, which includes 3 branches in Delhi. Mr. Manoj Sharma, MD, Shriram Life said that the company has been striving hard to reach an individual to better know their needs and correspondingly develop insurance products to meet them in the best way possible. With this, the company has earned the trust and satisfaction of the customers. As per the growth statistics from last three year, the 6th largest company in the private insurance sector of the country, Shriram Life Insurance has registered an exponential growth of 50 percent in the number of life insurance policies sold.

Shriram Life Insurance Will Introduce More Policies Offering Both Life And Health Plans

Shriram Life Insurance proposes to launch policies catering to Life and Health insurance in the near future and aims to concentrate on the health and pension market segment. Keeping this in mind, it launched the Assured Income Plus plan, an endowment assurance plan, which non-linked and non-participating in nature. This plan is aims at entry level customers who do not understand linked or participating products. In this plan, one will earn a monthly income in the 11th year by paying premiums in the first five years. This plan can also be used for retirement planning since the monthly income will be paid from the 11th year onwards. You can make changes so that the parent becomes the insured with your children as beneficiaries. This plan would suit those who are not seeking investment opportunities in insurance plans. In addition, the not so investment savvy population can also opt for this plan.

Shriram Life Insurance Introduces “Assured Income Plus” Plan

Shriram Life Insurance, a leading player among private life insurance players in India, announced the launch of a new plan, “Assured Income Plus”. Assured Income Plus is being marketed as a non-linked, non-participating endowment plan. It would cater to the requirement of customers who are interested in paying premiums for only 5 years to receive benefits in the form of five equal installments payable subsequent to maturity. The new plan offers a life cover that is at least 10 times the annual premium payable for policy holders up to 50 years of age, while for those over 50 years old, the life cover is at minimum 7 times the annualized premium. Minimum entry age to buy the plan is 8 years, while the maximum age to purchase the Assured Income Plus policy is 60 years. In case of policy holder’s death while the policy is in force, the next of kin/nominee is liable to receive a lump sum equal to the death sum assured as per the policy agreement.