FAQ's related to Shriram Life Smart Protection Plan

If you miss paying the premium for the Shriram Protection Plan, the policy will lapse.

You will get additional time to pay missed premiums. We allow a grace period of 15 days for the monthly mode of premium payment and 30 days for all other modes. 

You cannot take out a loan against the Smart Protection Plan. 

The death benefit is always tax-free under the protection plan.

You will get a period of five years to revive a lapsed policy. You can pay the outstanding premium with interest (if applicable) and revive the policy to restore the coverage. 

The Shriram Protection Plan offers coverage against premature demise, accidental demise and critical illnesses. Moreover, you can buy this coverage at affordable premiums.

Optional riders are not available with the smart plan. However, the Gold and Diamond options do allow inbuilt riders that you can choose to claim extended coverage. 

The premium amount for the smart plan depends on your age, medical history, the coverage selected, policy term and more. While the smart plan premium starts at ₹2,000, the actual premium will be calculated considering your mortality risk and the policy details you choose.

You can buy more than one policy to add to your coverage.