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Shriram Life My Spouse Term Plan
What is Shriram Life My Spouse Term Plan?
Shriram Life My Spouse Term Plan (UIN: 128N085V01) is a pure term insurance plan that provides protection to you and your spouse.
- It is the best term plan for husband and wife that can be purchased online in four simple steps.
- Pay premiums as low as ₹7,343^ a year for the primary life assured and ₹7,065^ a year for the secondary life assured
- This plan provides up to ₹1 crore insured coverage at an affordable price.
- Shriram Life My Spouse Term Plan is also eligible for tax benefits.
- Buy Shriram Life My Spouse Term Plan today and secure the future of you and your loved one.
Policy Type
Protection Plans
Policy Term
10 to 57 years
Minimum Premium
₹3,060 Per annum(Cumulative Premium)
Maturity Age
28-75 years
Features and Benefits of the Shriram Life My Spouse Term Plan
Long-Term Protection
Enjoy life insurance coverage up to the age of 75 years with Shriram Life My Spouse Term Plan.
Affordable Premiums
Women receive lower premium rates with a 3-year age setback. Therefore, they are eligible to pay lower premiums than their male counterparts.
High Sum Assured Discount
Get a discount on the premium rate when you opt for a higher sum assured.
Enhanced Protection
You can also get optional coverages that protect your spouse from the financial risks of accidental death and critical illnesses.
Death Benefits
Receive the highest of 10 times the annualised premium, the basic sum assured, or 105% of all premiums paid upon demise.
Flexible Nomination Options
Choose to nominate a Primary Life Assured, a Secondary Life Assured, or both spouses as the recipient of the benefits under the claim. The policy holder may change the nomination at any time.
How to Apply for Shriram Life My Spouse Term Plan ?
You can apply for the Shriram Life My Spouse Term Plan in four easy steps:
Step 01
Register using your Mobile Number
Step 02
Verify and Proceed using OTP
Step 03
Receive a Call from our representative
How to Claim for Shriram Life My Spouse Term Plan?
You can submit death claims, disability claims, cancer care claims and critical Illness claims for your Shriram Life My Spouse Term Plan 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 My Spouse Term Plan
| Eligibility Criteria | Limits |
| Age Criteria |
Entry Minimum: 18 years Maximum: 55 years |
| Age at Maturity |
Minimum: 28 years Maximum: Age 75 years |
| Policy Term |
Minimum:10 years Maximum: 57 years |
| Premium Paying Term | Equal to the chosen policy term |
| Premium Mode | Yearly, Half-yearly, Quarterly, Monthly |
What does the Shriram Life My Spouse Term Plan cover?
Shriram Life My Spouse Term Plan covers two lives - the primary and secondary life assured. The policy provides a lump sum payout in case of demise or terminal illness of either of the two lives. If the Primary Life Assured is disabled due to an accident, the premiums for both lives will be waived.
The policy also offers optional covers for accidental demise and critical illnesses for the primary life assured. In case of accidental demise, the accidental death sum chosen will be paid along with the death sum assured. In case of critical illness, the critical illness sum chosen will be paid immediately, and the premiums for the critical illness cover will cease. The policy has a waiting period of 90 days and a survival period of 30 days for the critical illness benefit.
Downloads
Accessing policy-related information has been made convenient for our customers through the online mode. You can visit Shriram Life Insurance's official website, www.shriramlife.com, navigate to the "Downloads" section on the policy page and effortlessly download the policy document, brochure and presentation.
FAQ's
How do I find out if I am eligible for Shriram Life My Spouse Term Plan?
You are eligible to buy the Shriram Life My Spouse Term plan if you are between 18 and 55 years of age and have a spouse.
Which policy term should I choose under Shriram Life My Spouse Term Plan?
You can choose the policy term based on your preferences. The minimum term under Shriram Life My Spouse Term Plan is 10 years and the maximum is 57 years. The premium paying term is equal to the chosen policy term.
What is the annual premium I can choose under Shriram Life My Spouse Term Plan?
Under Shriram Life My Spouse Term Plan, you can choose a minimum annual premium of ₹3,060. The maximum premium depends on your age, medical history, and policy details.
How much sum assured can I opt for under Shriram Life My Spouse Term Plan?
As the Primary Life under Shriram Life My Spouse TermPlan, your term cover will be ₹25 lakhs to ₹10 crores (in multiples of ₹1 lakh). The sum assured for the Secondary Life shall not exceed the sum assured for the Primary Life.
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