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Shriram Life Group Term Life Insurance in Lieu of EDLI
What is Shriram Life Group Term Life Insurance in Lieu of EDLI?
Shriram Life Group Term Life Insurance in Lieu Of EDLI (UIN: 128N040V02) is a one year renewable Group Term Assurance plan which provides a lump sum death benefit in case of the demise of a member.
- Buy Shriram Life Group Term Life Insurance in Lieu of EDLI in few simple steps
- Claim additional protection via riders
- Get assured savings plus tax benefits with Shriram Life Group Term Life Insurance in Lieu Of EDLI
- Get a minimum of ₹5,000 per member
Policy Type
Employee Benefits Plans
Policy Term
1 year (annually renewable)
Minimum Sum Assured
₹5,000 per member
Maturity Age
80 years
Features and Benefits of the Shriram Life Group Term Life Insurance in Lieu Of EDLI
The Shriram Life Group Term Life Insurance in Lieu Of EDLI Benefits and features are:
Tax-Free Claim Payment
The claim payments are free of taxes.
Rider Benefit
If the insured member were to pass away or suffer a permanent and total disability as a result of an accident, the Sum Assured under the Rider would be paid out.
Assured Earnings
In the event of the demise of the life assured, the sum assured will be paid to the legal heir or nominee, based on the choices made at the time of policy issue, renewal, or term.
Low-cost Premiums
You can make the premium payments affordable by paying them flexibly on a monthly, quarterly, half-yearly or yearly basis.
Higher Insurance Cover
Able to offer a higher insurance coverage than EDLI does, regardless of an employee's salary and duration of service.
Simple Insurability Condition
The insurability condition is for the individual to be an employee at the company and a member of the Employee Provident Fund Scheme.
How to Claim for Shriram Life Group Term Life Insurance in Lieu Of EDLI
You can submit death claims, disability claims, cancer care claims and critical Illness claims for your Shriram Life Group Term Life Insurance in Lieu Of EDLI online on our website by following simple steps provided below.
Step 01
Come to the claim center, select intimate claim Button
Step 02
Choose in the dropdown Request Type - death
Step 03
Fill the details of insurer, death event, details of doctor who declared death (Doctor -Non mandatory)
Step 04
Fill the personal and bank details of claimants and upload the documents
Documents to be uploaded
- Death certificate issued by Local Body/Municipal Body
- Nominee bank passbook
- Postmortem report
- Claim form B
- Claim form A
- Policy Document
- Hospital Summary/Hospital records
- Nominee ID proof (ID proof /address Proof)
- FIR/ Panchnama/ Inquest Report and final investigation report
- Upload Signature of claimant
- Copy of driving license if Life Assured was driving the vehicle at the time of accident (applicable if Rider is opted)
- NEFT mandate form
- Claims form C and E wherever applicable
Eligibility and Documents Required for Shriram Life Group Term Life Insurance in Lieu Of EDLI
| Minimum Age Entry | 14 Years |
|---|---|
| Maximum Age Entry | 74 Years (at last birthday) |
| Cover Ceasing Age | 75 Years |
| Minimum Sum Assured | ₹3,62,000 |
| Maximum Sum Assured | ₹15,00,000 |
| Policy Term | One Year (Annually Renewable) |
| Nature of Scheme | Statutory |
| Premium Pay Mode | Yearly, Half-Yearly, Quarterly or Monthly |
| Minimum Group Size | 20 |
| Minimum group size is subject to change as per Employee’s Provident Fund & Miscellaneous Provisions Act (1952) for establishments to become EPFO Member | |
What does the Shriram Life Group Term Life Insurance in Lieu Of EDLI cover?
The Shriram Life Group Term Life Insurance in Lieu Of EDLI allows coverage in case of demise of the life assured in case of an accident which results in permanent disability (if the rider is selected), in case the member commits suicide within one year from the joining date (for non-employer-employee schemes).
Download Documents for Shriram Life Group Term Life Insurance in Lieu Of EDLI
For the convenience of all of our customers, all policy-related documents are readily available online on the website. Simply go to www.shriramlife.com to access them.
FAQS
What is the free lock-in period for the master policyholder under Shriram Life Group Term Life Insurance in Lieu Of EDLI?
The free lock-in period is of 15 days for the master policyholder under Shriram Life Group Term Life Insurance in Lieu Of EDLI policy.
Will my Shriram Life Group Term Life Insurance in Lieu Of EDLI policy lapse?
The Shriram Life Group Term Life Insurance in Lieu Of EDLI policy will lapse if you do not pay the renewal premium before the grace period expires.
How can I revive my Shriram Life Group Term Life Insurance in Lieu Of EDLI?
By the Company's Board-approved underwriting policy, the lapsed Shriram Life Group Term Life Insurance in Lieu Of EDLI policy may be renewed by premium payments during the policy's one-year term, along with any additional criteria.
Can I surrender or terminate my Shriram Life Group Term Life Insurance in Lieu Of EDLI policy?
The Shriram Life Group Term Life Insurance in Lieu Of EDLI policy does not have a termination or surrender benefit.
How do I submit a claim for the Shriram Life Group Term Life Insurance in Lieu Of EDLI?
You can submit a claim for Shriram Life Group Term Life Insurance in Lieu Of EDLI quite easily and you will get your benefits quickly. As a result, policy holders favour it as one of their recommended plans.
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