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Shriram Life Group Life Protector SP Eligibility and Documents Required
To buy Shriram Life Group Life Protector SP, you will need to fulfil the following life protector plan eligibility criteria:
| Eligible groups | Institutions, societies and associations exposed to the risk of default on loan repayment as a result of death. This includes: Non -Government Organisations (NGOs), Self-Help Groups (SHG),Micro Finance Institution (MFI),RBI regulated NBFC-MFIs, District Cooperative Banks licensed by Reserve bank of India, Regional Rural Banks, Urban Co-operative Banks, RBI regulated Scheduled Banks- PSU and Private Banks, Small Finance Banks, Housing Finance Companies regulated by NHB, State Co-operative Banks, Primary agricultural Cooperative Societies, Other Co-operative Societies registered under Co-operative Societies Acts, Any other Credit Societies offering loans to unorganised groups, Any other Lender borrower groups offering loans to unorganised groups. |
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| Age criteria |
Entry Minimum: 18 years Entry Maximum: 69 years |
| Maximum maturity | 70 years |
| Policy term | 1 year to 30 years |
| Premium paying term | Single premium |
| Premium mode | Single premium |
| Minimum cover | ₹5,000 per member |
| Minimum group size | 50 members |
| Maximum Cover | ₹100 crores per member subject to the Board approved underwriting policy |