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Shriram Life Jana Sahay
What is Shriram Life Jana Sahay?
Shriram Life Jana Sahay policy (UIN: 128N062V01) is a group term micro insurance product that provides financial security to families of unorganised or affinity groups.
- Yearly renewable: The policy can be renewed every year at your convenience.
- Great coverage: The master policy holder can enroll eligible members by providing their details and paying premiums.
- Affordable protection: New members can be covered from entry, and premium refunds of 85% are available for withdrawals.
- Receive tax benefits.
- Secure your loved ones' future: Ensure your loved ones are taken care of with the Shriram Life Jana Sahay policy.
Policy Type
Microinsurance Plans
Policy Tenure
1 year
Maturity Age
18-65 years
Maximum Sum Assured
₹ 2,00,000
Features and Benefits of the Shriram Life Jana Sahay
Flexible-Premium Payment Options
Premiums can be paid on a yearly, half-yearly, quarterly or monthly basis, offering flexibility to policy holders to select the mode that suits them best.
Death Benefit
In the event of the demise of a policy holder, the sum assured will be paid to the designated nominee(s) or beneficiary (ies), providing financial protection to the policy holder's loved ones.
New Members and Exits
New members are covered from the entry date. Existing members can leave the group with a refund of 85% of the proportionate premium for the remaining coverage period.
Lender-Borrower Schemes
Shriram Life Insurance offers a convenient option for lender-borrower schemes, allowing the outstanding loan balance to be paid directly from the claim proceeds.
Policy Revival
If the renewal premium is not paid before the end of the grace period, the policy can be revived within one year by paying the due premiums and interest of 9% per annum.
Wide Coverage
Members aged 18 to 65 years are eligible to enroll in this plan with a group size of at least five members. Coverage ranging from ₹5,000 to ₹2,00,000 can be obtained under this plan.
How to Claim for Shriram Life Jana Sahay
You can submit death claims, disability claims, cancer care claims and critical Illness claims for your Shriram Life Jana Sahay 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 Jana Sahay
| Age Criteria (age last birthday) | Entry Minimum: 18 years Maximum: 65 years |
|---|---|
| Policy Tenure | 1 year |
| Premium Paying Term | Same as the selected policy tenure |
| Premium Mode | Yearly, Half-yearly, Quarterly, Monthly |
| Annual Premium | Depends on the size of the group |
| Sum Assured Range (Primary) | ₹5,000 to ₹2 lakhs per member |
| Group Size | Minimum: 5 members required Maximum: No limit |
| Maturity Benefit | Not available under this plan |
| Loan Facility | Not available under this plan |
What does Shriram Life Jana Sahay cover?
Shriram Life Jana Sahay policy is a group life insurance policy designed to provide financial protection to members of a group in the event of the master policy holder's demise. The policy provides death benefits to the nominee or beneficiary of the deceased member in the form of a sum assured. The sum assured remains constant for the entire policy tenure of one year.
In the case of lender-borrower schemes administered by any of the specified entities such as banks, housing finance companies, or microfinance companies, the outstanding loan balance amount can be paid to the master policy holder by deducting from the claim amount and the balance, if any, will be paid to the nominee/legal heir. If any of these entities does not administer the lender-borrower scheme, the entire claim amount will be settled in favour of the insured member/nominee/beneficiary.
Download Documents for Shriram Life Jana Sahay
Shriram Life Insurance has made it easy for customers to access policy-related information. You can effortlessly download the policy document, brochure, and presentation by simply visiting the official website: www.shriramlife.com. Navigate to the 'Downloads' section on the 'Policy' page to obtain a digital copy of your policy.
Frequently asked questions
Why should I get the Shriram Life Jana Sahay policy?
You should get the Shriram Life Jana Sahay policy because it is a group life insurance policy designed to offer financial protection against the risk of the policy holder's group member's demise. The policy premium depends on factors such as the policy holder's age, medical history, and coverage amount.
How old do I have to be to get the Shriram Life Jana Sahay policy?
If you are between the ages of 18 and 65, you can get the Shriram Life Jana Sahay policy.
How can I pay the premiums for the Shriram Life Jana Sahay policy?
You can pay the policy premium for the Shriram Life Jana Sahay policy on a yearly, half-yearly, quarterly, or monthly basis.
How much sum assured can I get under the Shriram Life Jana Sahay policy?
Under the Shriram Life Jana Sahay policy, you can get a sum assured of ₹5,000 to ₹2 lakhs per member.
How can I check my Shriram Life Jana Sahay policy status?
You can check your Shriram Life Jana Sahay policy status online, by visiting the official website: www.shriramlife.com.
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