Prices Increasing soon Prices Increasing Soon

Shriram Group Term Life Insurance in Lieu of EDLI Plan

Shriram Group Term Life Insurance in lieu of EDLI is a plan specifically designed for employer-employee groups where employers are mandated to provide life insurance coverage to employees linked to their Provident Fund Account under the Employee’s Deposit Linked Scheme. The plan enables employers to provide more than sufficient cover to employees without worrying about the balance in Provident Fund accounts or years of service.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Key Features

  • It is a yearly renewable plan
  • Employer-employee groups can avail of the plan.
  • A master policy held by the group’s head is issued, covering the members for a pre-determined amount.
  • The minimum coverage is Rs.132,000, thereby covering the mandated limit of Rs.130,000.
  • Any member can be covered, if he/she is an employee and member of the Employee Provident Fund Scheme.

Benefits

  • The nominee gets the Sum Assured on the death of the policyholder during the term of the plan.
  • Income tax benefit on the premium paid by the employer as per Section 37 and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

14 years

75 years

Maturity Age (Last Birthday)

-

76 years

Size of the group

20 members

No limit

Premium Payment Frequency

Annual, half-yearly, quarterly, monthly

Sum Assured

132,000

500,000

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Policy Details

  • Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days in other methods.
  • Policy Termination or Surrender Benefit: the policy cannot be surrendered.
  • Free Look Period: If you would not be pleased with the coverage and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

For increased protection, one can add a rider benefit to his/her base group term insurance plan by paying an additional premium. The rider benefit available for the Shriram Group Term Life Insurance plan is: 

  • Accident Benefit Rider.

Documents Required

The policyholder has to fill up a Master Proposal form and submit the employees’ date, copy of the scheme rules, and proposal form.

Premium By Age

Term insurance articles

  • Recent Article
  • Popular Articles
13 Jun 2024

Kotak TULIP

Kotak T.U.L.I.P (Term with Unit Linked Insurance Plan) is a

Read more
05 Jun 2024

Why Should You Consider Inflation When Buying a...

The retail inflation of India rose to 5.69% in December 2023

Read more
29 May 2024

Term Insurance for Individuals with 25K Salary

Securing your family's future is essential, especially when

Read more
28 May 2024

'Har Family Hogi Insured' Policybazaar's Vision...

Empowering Every Household: policybazaar's Commitment to

Read more
23 May 2024

Term Insurance for Individuals with a 35K Salary

Securing your financial future is essential, especially when

Read more
28 May 2024

'Har Family Hogi Insured' Policybazaar's Vision...

Empowering Every Household: policybazaar's Commitment to Nationwide Coverage In a visionary move towards a

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more
03 Dec 2020

What Is Saral Jeevan Bima

Saral Jeevan Bima (SJB) is a simple term insurance plan that offers financial protection for policyholder’s

Read more
13 Apr 2021

2 Crore Term Insurance Plan

2 Crore term insurance provides cover amount of 2 Crore as death benefit to your family in the event of your

Read more
07 Mar 2023

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus

TATA AIA Smart Sampoorna Raksha Param Rakshak Plus is a comprehensive life insurance policy for individuals

Read more
Need Help? Request Callback
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL