FAQs for Shriram Life Online Term Plan

You can buy one or both add-ons available with Shriram Life Online Term Plan. However, optional add-ons come at an additional premium cost. Buying one or both add-ons will proportionately increase your premiums. 

Shriram Life Online Term Plan does not cover critical illness. However, you can buy the optional critical illness rider with the plan to get coverage against 23 major critical illnesses. 

You will get 1% of the sum assured as fixed monthly earnings from the month of the demise of the life insured for 10 years or till the end of the term of the policy, whichever is later under the Shriram Life Online Term Plan. 

You can email Shriram Life at claimsupport@shriramlife.in for filing a claim for Shriram Life Online Term Plan through email.

The facility of loan is not available under the Shriram Life Online Term Plan. 

You can return the Shriram Life Online Term Plan after purchase within 30 days of receipt of the policy documents if you are not satisfied with the term and conditions of the plan. 

The death benefit is paid as monthly earnings as one of the base options Shriram Life Online Term Plan. It is calculated as 1% of the sum assured of the plan. So, if the sum assured is ₹25 lakhs, the monthly earning would be 1% of ₹25 lakhs = ₹25,000.

Shriram Life Online Term Plan provides a grace period of 15 days for the monthly premium payment mode and 30 days for other premium payment modes.

There is no surrender value under Shriram Life Online Term Plan.

If you fail to pay the due premiums of the Shriram Term Life Insurance even during the grace period, your policy will lapse and no life cover will be provided during the period when your policy is in the lapsed state.