Compare Shriram Life Insurance Plans

Shriram Life Insurance Company

Shriram Life Insurance Company

Established in 2006, Shriram Life Insurance Company Ltd is a joint insurance company between Sanlam Group – a life insurance conglomerate operating in of South Africa, and the Shriram Group – the leading Indian brand with 25 companies in its cap. Shriram Life Insurance Company Limited is the only private sector insurance company which has made profits within the first 3 years of setting food in the market. It has been recognized as the country’s most profitable life insurance company.

Performance and growth!

Shriram Life Insurance Company Ltd has recorded tremendous growth within a few years. It has more than 630 branches all over the country, and about 75,000 insurance agents spread all across India. The company’s spectacular range of insurance policies makes sure that the needs of its customers are met. Shriram Life Insurance focuses mainly on the socially and economically weaker sections of the country. 40% of its business is generated by these sectors.

Key Advantages of Choosing Shriram Life Insurance:

Shriram Life Insurance Company Limited is one of the most reputable and progressive insurance providers in India. The policies are designed to provide financial security and protection to the policyholder’s family in case of his unfortunate demise. The agents working at the company cater to all your needs and help you select an insurance plan which is most suitable for you.

Different Types of Life Insurance Policies
Shriram Life Insurance Company Limited has an extensive range of life insurance policies. These policies are segregated under different schemes.

Shriram Life Insurance Child Plans:
New Shri Vidya
New Shri Vivah

Shriram Term Insurance Plans:
Cash Back Term
Group Term Life Insurance

Shriram Life Insurance Savings Plans:
New Shri Life
New Shri Vidya
New Shri Vivah

Shriram Life Unit Linked Insurance Plans:
Ujjwal Life
Ujjwal Life (sp)
Fortune Builder

Shriram Life Pension Plans:
Pension Plus
Immediate Annuity
Product Details

Shriram Life Insurance Child Plans:

  • New Shri Vidya: To help you save for your child’s future education, Shriram Life offers you a plan which provides you with both death and maturity benefits. It offers death benefits which make sure your family does not suffer financially. The death benefits, include the basic sum assured and monthly income.
  • New Shri Vivah: This plan is specifically designed for those customers who want to save up for their child's marriage. You can choose a basic sum to insure. This plan also provides a monthly income as death benefits and basic sum assured and bonuses as maturity benefits.
Plan Basic Sum Assured Policy Term
New Shri Vidya Rs.1,00,000 10 years, 15 years, 20 years, or 25 years
New Shri Vivah Rs.1,00,000 10 years, 15 years, or 20 years

Shriram Term Insurance Plans:

  1. Cash Back Term: It is a term insurance plan which provides a payout of the premiums paid towards the insurance sum. This return is paid as the maturity benefits. It also offers several rider plans that can be used to enhance your policy.
  2. Group Term Life Insurance: It is a renewable group term insurance plan. It offers all the benefits of a term insurance policy to a large group of people. The minimum group size has to be 20 members.
Plan Basic Sum Assured Policy Term
Cash Back Term Rs.2,00,000 10 years, 15 years, 20 years, or 25 years
Group Term Life Insurance Rs.5,000 per member (minimum group size is 20 for employer-employee groups and 50 for other groups) One year (renewable yearly)
Group Term Life Insurance in place of EDLI Rs.3,62,000 One year (renewable yearly)
Family Protection Plan Rs.15,00,000 10 years, 15 years, 20 years, or 25 years
Secure Plus Plan Rs.5,00,000 10 years, 15 years, or 20 years

Shriram Life Insurance Savings Plans:

  1. New Shri Life: This plan provides good rebates on the basic sum insured. It also gives you the option to choose between limited and regular premium payment options. It also offers tax benefits and reversionary bonuses to policyholders.
  2. New Shri Vidya: The plan offers survival and maturity benefits like terminal and reversionary bonuses to the customer. It also provides death benefits which include the basic sum insured and monthly income.
  3. New Shri Vivah: The speciality of this insurance policy is that there is no minimum limit on the basic sum to be insured. This plan can be enhanced using other rider plans. It also offers death and maturity benefits to the policyholders.
Plan Basic Sum Assured Policy Term
New Shri Life Rs.50,000 10 years, 15 years, 20 years, or 25 years
New Shri Vidya Rs.1,00,000 10 years, 15 years, 20 years, or 25 years
New Shri Vivah Rs.1,00,000 10 years, 15 years, or 20 years
New Shri Raksha Rs.1,50,000 10 years, 15 years, 20 years, 25 years
New Akshay Nidhi Rs.1,50,000 15 years, 20 years, or 25 years
Secure Investment Rs.49,600 for five-year policy term, and Rs.77,000 for 10-year policy term 5 years or 10 years
Ujjwal Life Annualised Premium for a person below 45 years X 10, and Annualised Premium for a person 45 years and over X 7 10 years

Shriram Life Unit Linked Insurance Plans:

  1. Ujjwal Life: It is a unit linked plan which gives you the option of paying in regular premiums. It also provides maturity benefits and death benefits.
  2. Ujjwal Life (sp): This is another unit-linked single premium plan. It gives you the dual benefit of fixed returns on premium along with insurance cover.  A portion of your premium paid is invested in the market shares, and you earn returns on them.
  3. Fortune Builder: It is a unit-linked single premium plan designed for customers who have irregular incomes. It gives you the privilege to invest in several assets at once. You can also make partial withdrawal in case of emergencies. 
Plan Basic Sum Assured Policy Term
Ujjwal Life 10 x the Annualised Premium for persons entering who are below 45 years, and 7 x the Annualised Premium in the case of a person who is 45 years and above at the time of entry. 10 years (fixed)
Ujjwal Life (sp) 125% of Single Premium in case the individual is under 45 years at the time of entry, and 110% of Single Premium in case the individual is 45 years or more. 10 years (fixed)
Fortune Builder 1.25 x Single Premium for individuals under 45 years at the time of entry, and 1.10 x Single Premium for individuals who are 45 years or older. 10 years, 15 years, or 20 years (fixed)

Shriram Life Pension Plans:

  • Pension Plus: The Pension Plus plan from Shriram Life Insurance Company Limited helps customers retire tension free by helping them save up a huge amount though investments.
  • Immediate Annuity: This is a traditional life insurance plan that provides regular income until the death of the policyholder. Under this participating plan, the purchase price is returned to the nominees in case of untimely death of the policyholder.
Plan Entry Age Policy Term
Pension Plus Minimum: 20 years last birthday; Maximum: 65 years last birthday 10 years, 15 years to 35 years
Immediate Annuity Minimum: 40 years last birthday; Maximum: 75 years last birthday n/a
Immediate Annuity Plus Minimum: 0 years; Maximum: 75 years last birthday Whole Age
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