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FAQ's related to Shriram My Spouse Term Plan
Why should I get the Shriram Life My Spouse Term Plan?
You should get the Shriram Life My Spouse Term Plan because it is a pure term insurance plan designed to protect both you and your spouse. It offers coverage of up to ₹1 crore per Life Assured at an affordable price.
How old should I be if I want to opt for the Shriram Life My Spouse Term Plan?
To opt for Shriram Life My Spouse Term Plan, you should be a minimum of 18 years and a maximum of 55 years.
What are the minimum and maximum policy terms I can get under the Shriram Life My Spouse Term Plan?
Under the Shriram Life My Spouse Term Plan, you can get a minimum policy term of 10 years and a maximum term of 57 years, with the premium paying term equal to the chosen policy term.
Which premium payment mode can I opt for under the Shriram Life My Spouse Term Plan?
You can pay the premium in four modes: yearly, half-yearly, quarterly, and monthly. The minimum annual premium is ₹3,060, and the maximum depends on age, medical history, and policy details selected under Shriram Life My Spouse Term Plan.
How much Sum Assured I can get as a Primary Life Assured under Shriram Life My Spouse Term Plan?
As the Primary Life Assured, your Sum Assured can range from ₹25 Lakh to ₹10 Crore (in multiples of 1 lakh), with the Secondary Life Sum Assured not exceeding the Primary Life Sum Assured under Shriram Life My Spouse Term Plan.
Will Shriram Life My Spouse Term Plan offer terminal illness and critical illness coverage to me?
Yes, terminal illness cover is available for both the Primary and Secondary Life Assured under Shriram Life My Spouse Term Plan. Critical illness cover is available for the primary life only, with a minimum of ₹5 lakhs and a maximum of 20% of the sum assured, subject to a limit of ₹20 lakhs.
Can I get an accidental death benefit under Shriram Life My Spouse Term Plan?
You can get an accidental death benefit only if you for the Primary Life Assured under Shriram Life My Spouse Term Plan, with a minimum of ₹10 lakhs and a maximum of 100% of the sum assured, subject to a limit of ₹1 crore.
Can I get maturity benefits under Shriram Life My Spouse Term Plan?
No. you cannot get a maturity benefit under Shriram Life My Spouse Term Plan.
Can I get a loan facility under Shriram Life My Spouse Term Plan?
No, you cannot get a loan facility under Shriram Life My Spouse Term Plan.
How can I determine my premium under Shriram Life My Spouse Term Plan?
Your premium depends on policy holder's age, medical history, coverage availed, and any optional covers chosen under Shriram Life My Spouse Term Plan.
What are the features I can get under Shriram Life My Spouse Term Plan?
Some of the features you can get under Shriram Life My Spouse Term Plan include a minimum premium of ₹3,060 per annum, longer protection up to age 75 years, lower premium rates for women, a high sum assured discount, enhanced protection with optional covers, and flexible premium payments.
What are the benefits I get to enjoy under Shriram Life My Spouse Term Plan?
You can enjoy the following benefits of Shriram Life My Spouse Term Plan: life coverage for both the Primary and Secondary Life Assured, death benefit, terminal illness benefit, critical illness benefit, income tax benefits, and options for enhanced protection.