Shriram Life Term Insurance Plan
Shriram Life Insurance Company was established in 2005. It is known as the insurance company providing life insurance products in India. There are various types of insurance plans offered by Shriram Life.
The term insurance plans offered by Shriram Life provide all the benefits of a term insurance plan to the life assured. Through this, if the insured person dies accidentally during the policy term, then the amount is provided as death benefit by the insurance company to the person nominated by the insured person. Through this death benefit, the family members of the life assured can meet their financial needs without any hindrance in the absence of the life assured.
Shriram Life Term Insurance Plan is available to you at the lowest premium. Along with this, you get many options for premium payment and on maturity of the term plan, you are also provided with benefits.
You can enhance the coverage of your Shriram Life term insurance plan through riders. Apart from this, you can also apply for tax benefit on this.
Features Of Shriram Life Term Insurance Plan
Features of Shriram Life Term Insurance Plan are as follows-
- The term insurance plans offered by Shriram Life are very affordable. Through this, those whose budget is low can also get the benefit of term insurance plan without any worry.
- In this, you get many options for premium payment. You can choose to make your premium payment monthly, half-yearly or annually.
- In this, the premium paid by you is returned as maturity benefit.
- In this, you are given a free-look period of 15 to 30 days. If you are not satisfied with the policy then you can opt out of the policy.
- In this, you can increase your coverage further by adding riders.
- In this you are also provided with tax benefits.
Benefits Of Shriram Life Term Insurance Plan
The benefits of Shriram Life Term Insurance Plan are as follows-
- Death Benefits:
In Shriram Life Term Insurance plan, the nominee is provided with the sum assured as death benefit in case of death of the policyholder, this sum assured can be chosen as a lump sum payment or as monthly income. It can be opted by the policyholder at the time of taking the policy.
- Maturity Benefit:
In cashback term insurance policies offered by Shriram Life, you are refunded 105% of the premiums paid by you at the end of the policy term.
- Riders:
You also get the option of adding riders to the Shriram Life term insurance plan. Through this you can increase your term insurance plan coverage. In Shriram Life Term Insurance Plan you get the option of adding the following riders-
- Accident Benefit Rider,
- Shriram Critical Illness Cover Rider,
- Shriram Extra Insurance Cover Rider,
- Family Income Benefit Rider.
- Tax Benefits:
You can also avail income tax benefits on the premiums paid and the death benefit received in Shriram Life Term Insurance Plan. The premium paid is eligible under Section 80C of the Income Tax Act, 1961, while the death benefit received is eligible under Section 10(10D) of the Income Tax Act, 1961.
Shriram Life Term Insurance Plan
Following are the term insurance plans offered by Shriram Life :
- Shriram Life Online Term Plan
- The minimum policy term of this term plan is 10 years and the maximum policy term is 57 years.
- In this, you are provided with term insurance coverage till the age of 75 years.
- In this, term plans are offered to women at the lowest premium.
- Shriram Life Cash Back Term
- In this plan the premium paid by you is returned after the end of the policy term.
- In this, you get the option of choosing 10/15/20/25 years as the policy term.
- In case of death of the life assured, a lump sum sum assured is received.
- Shriram Life Family Protection Plan
- Shriram Life Family Protection Plan is designed keeping in mind the need of the family.
- Shriram Life Family Protection Plans offer you a term insurance plan at affordable rates.
- Shriram Life Smart Protection Plan
- This is a single premium term insurance plan.
- In this, you get the option of critical illness cover.
- It provides death benefit in case of death of the life assured.
- Maturity benefit is provided to you at the end of the policy term.
- Shriram Life Saral Jeevan Bima
- The term of this plan ranges from 5 years to 40 years.
- In this, the minimum death benefit is rs 5 lakh and the maximum death benefit is Rs 25 lakh.
- It offers you a term insurance coverage at a low premium.
- In this you also get the option of adding a rider.
Shriram Life Term Insurance Plan Eligibility
Eligibility for Shriram Life Term Insurance Plan is as follows-
- Minimum Age – 18 Years
- Maximum Age – 65 Years
Documents Required For Shriram Life Term Insurance Plan
The documents required for Shriram Life Term Insurance Plan are as follows-
- Completely filled application form
- medical report
- passport size photo
- Accommodation quantity
- identity proof
- age proof
- Income ratio
Shriram Life Term Insurance Plan Premium
There are a variety of options available for premium payment in Shriram Life Term Insurance Plan. You get the option to pay premiums monthly, quarterly, half-yearly and annually for premium payment of your term insurance plan.
- Yearly,
- Half-yearly,
- Quarterly, or
- Monthly Premium Payment
How To Buy Shriram Life Term Insurance Plan?
You can buy Shriram Life Term Insurance Plan through online medium from the official website of Shriram Life. After visiting the official website of Shriram Life, you can buy your desired Shriram Life term insurance plan online from the comfort of your home in a few minutes by visiting the term insurance plan section.