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FAQ's related to Shriram New Shri Life
Where can I download the policy documents of Shriram New Shri Life online?
You can download the policy documents of Shriram New Shri Life on the website https://www.shriramlife.com/ under the specific product.
Where can I submit the claim for Shriram New Shri Life?
You can download the claim forms online at the download centre of the Shriram website. These forms will be also available in Shriram branches.
When will the Shriram New Shri Life plan go lapse?
Your Shriram New Shri Life will lapse If you don’t make two full annualised premium payments.
What does a policy document of the Shriram New Shri Life plan contain?
The policy document contains an outline of the Shriram New Shri Life policy, the risk it covers, premium payments, tenure, and the sum assured.
What does the annualised premium in Shriram New Shri Life mean?
The term annualised premium in Shriram 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.
What is the difference between a reversionary bonus and a terminal bonus in Shriram New Shri Life?
Terminal bonus is a one-time bonus that’s decided at the maturity or death claim of Shriram 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.
How to download Shriram New Shri Life Insurance Policy documents?
To do the Shriram New Shri Life insurance policy document download, you can visit the website and the policy page and download it from there.
How is the monthly, quarterly, and half-yearly premium payment calculated in Shriram New Shri Life?
If you are paying in any mode other than the annual premium payment under Shriram 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.
What is the grace period given for monthly and other premium payment modes in Shriram New Shri Life?
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 New Shri Life Policy. The grace period is a relaxation given to help you make the payment.
What are the loan facilities available under the Shriram New Shri Life Policy?
Loan facilities are available under Shriram 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.
How can I revive a lapsed Shriram New Shri Life Policy?
You can revive your lapsed Shriram 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.
What is the highest sum assured rebates available with Shriram New Shri Life?
The highest sum assured rebate available with Shriram New Shri Life is 5% which is for a sum assured band of ₹10,00,000 and above.
What is the paid-up sum assured on the demise of the life assured in the Shriram New Shri Life Plan?
The paid-up sum assured on the demise in the Shriram New Shri Life 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.
How does the Shriram New Shri Life Policy enhance savings amount?
The Shriram 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.