FAQ's related to Shriram Life New Shri Life

You can download the policy documents of Shriram Life New Shri Life on the website  https://www.shriramlife.com/ under the specific product.

You can download the claim forms online at the  download centre of the Shriram website. These forms will be also available in Shriram branches.

Your Shriram Life New Shri Life plan will lapse If you don’t make two full annualised premium payments.

The policy document contains an outline of the Shriram Life New Shri Life policy, the risk it covers, premium payments, tenure, and the sum assured.

The term annualised premium in Shriram Life New Shri Life means the total premium payment that you will make in a year except for taxes, extra premiums, rider premiums, and loading for modal premiums.

Terminal bonus is a one-time bonus that’s decided at the maturity or death claim of Shriram Life New Shri Life depending on the performance of the company’s investments. reversionary benefits mean compounded bonuses that get added every year and are released at the time of maturity or a death claim.

To do the Shriram Life New Shri Life insurance policy document download, you can visit the  website and the policy page and download it from there.

If you are paying in any mode other than the annual premium payment under Shriram Life Assured New Shri life, then your annual premium will be multiplied by a modal factor. For example, the modal factor of a half-yearly mode = annual premium * 0.5089.

The grace period given for monthly payments is 15 days from the date of your payment. For other modes, it is 30 days in Shriram Life New Shri Life Policy. The grace period is a relaxation given to help you make the payment.

Loan facilities are available under Shriram Life New Shri Life policy where you can get 80% of the surrender value as the loan amount. This loan is subject to interest rates as per IRDA and will be accrued from the outstanding loan balance.

You can revive your lapsed Shriram Life New Shri Life policy within a period of five years from the date of your first missed premium payment. You should pay the entire missed premium payment within this period along with varying interest.

The highest sum assured rebate available with Shriram Life New Shri Life is 5% which is for a sum assured band of ₹10,00,000 and above.

The paid-up sum assured on the demise in the Shriram new Shri life Assured Benefit Plan depends on the paid premiums till the date of demise. The formula to determine this is as follows, (Total premiums paid/premiums payable) * sum assured on demise.

The Shriram Life New Shri Life policy enhances savings through reversionary and terminal bonuses while providing maturity and death benefits. These attractive bonuses increase the sum assured that you claim during the maturity or demise while the policy is active.