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Shriram Life Online Term Plan
What is Shriram Life Online Term Plan?
The Shriram Life Online Term Plan (UIN: 128N072V01) is a non-linked, non-participating pure term insurance plan with added protection and flexible payouts.
- Claim three base plan options
- Inbuilt additional coverage
- Optional coverage features for added protection
- Lower premiums for females
- Premium rebates for a higher guaranteed benefits plus tax exemptions
Policy Type
Protection Plans
Policy Term
Up to 57 years
Minimum Premium
₹1,695 per annum
Maturity Age
Lump Sum Option - 75 years
Monthly or Monthly + Lump sum Option - 65 years
Features and Benefits of Shriram Life Online Term Plan
Easy to Buy
Buy the Shriram Life Online Term Plan online in a few simple steps for instant coverage.
Three Plan Options
Three plan options with different benefit payouts to suit your financial needs.
Inbuilt Additional Coverage
Enjoy coverage against terminal illness and accidental death and disablements inbuilt under the plan.
Optional Add-ons
Choose from two optional coverage benefits for enhanced protection.
Longer Protection
Get coverage for a longer tenure for maximum financial protection against unforeseen contingencies.
Low Premiums
Affordable premiums help you enjoy coverage without any compromise.
How to Apply for Shriram Life Online Term Plan?
You can apply for the Shriram Life Online Term Plan in three 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 Online Term Plan?
You can submit death claims, disability claims, cancer care claims and critical Illness claims for your Shriram Life Online 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 Online Term Plan
| Criteria / Base Option | Lump Sum Option | Monthly income/ Lump Sum + Monthly income Option | |||
| Entry Age Limits | 18 years to 55 years (age last birthday) | 18 years to 45 years (age last birthday) | |||
| Maturity Age Limits | Minimum – 28 years Maximum – 75 years | Minimum – 38 years Maximum – 75 years | |||
| Policy Tenure | 10 years to 57 years | 20 years to 47 years | |||
| Premium Payment Tenure | Equal to the chosen policy tenure | ||||
| Minimum Premium Amount | ₹1,695 per annum | ||||
| Sum Assured | ₹25 lakhs to ₹10 crores (in multiples of ₹1 lakh) | ||||
What is Covered Under Shriram Life Online Term Plan?
Shriram Life Online Term Plan covers the risk of premature demise during the policy tenure. Moreover, there is inbuilt additional coverage for terminal illness and waiver of premium on total and permanent disability due to accident. The plan benefit is paid if the life insured suffers a terminal illness. Alternatively, if the life insured becomes totally and permanently disabled in an accident, the future premiums are waived and the coverage continues. You can also choose from two optional riders to enhance the scope of the policy.
Download Documents for Shriram Life Online Term Plan
It is easy to download the documents for Shriram Life Online Term Plan as the documents are available online on the website of Shriram Life. Visit www.shriramlife.com and open the plan page of Shriram Life Online Term Plan. On the page, you will be able to download the policy document, product brochure and presentation for your needs.
FAQs
What is Shriram Life Online Term Insurance?
Shriram Life Online Term Insurance is an online pure-protection term insurance policy providing comprehensive coverage at affordable premiums. The plan is available only online and has affordable premiums.
What will happen on the maturity of the Online Term Insurance Plan?
On maturity of the Online Term Insurance Plan, if the life insured survives, nothing would be payable as the plan is a pure-protection plan with no maturity benefits.
Does Shriram Life Online Term Plan cover terminal illness?
Terminal Illness is an inbuilt cover in all the base options under the Shriram Life Online Term Plan.
Can I get the death benefit under the Shriram Life Online Term Plan partly in a lump sum and partly as regular earnings?
Shriram Life Online Term Plan provides three base options to choose from at the time of buying the plan one of which includes receiving 50% of the sum assured in a lump sum and the remaining 50% of the sum assured as monthly earnings on the demise of life insured or diagnosis of a terminal illness.
Testimonials
What our customers say about us
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