Special Plan for your Better Future!
Shriram Life Special Plan - Group Term Insurance starting from ₹330 onwards per member annually
Easy Claim Process
Quick Disbursals
Hassle-Free Purchase
Shriram Life Special Plan
What are Shriram Life Special Plan?
Shriram Life Special Plan is a non-linked and non-participating one-year renewable group term insurance plan that is initiated by the Indian government to help socially backward classes.
- Buy Shriram Life Special Plan affordable premiums for all sections of society
- Lifelong protection and coverage
- Annual renewal plans with one-time payments
- Get assured death benefits
Policy Type
Shriram Life Special Plans
Premium
Starting from ₹330 per annum for each member
Death Benefit
Minimum ₹2,00,000 up to Maximum ₹2,00,000 Per Member
Minimum Group Size
50 Members
Features and Benefits of Shriram Life Special Plan
The features of the Shriram Life Special Plan are as follows-
Group Term Insurance
The policy offers life insurance cover to individuals with savings bank accounts with any bank.
Low premium payments
Shriram Life Special Plan premiums are as low as ₹330 per annum for each member.
Free Look Period
After enrolment, if you are not satisfied with the ‘Terms & Conditions’ of the policy the policy can be returned to the company with reasons for cancellation within 15 days/ 30 days if the plan is sold through distance marketing, of receipt of the policy document.
Simple Eligibility Criteria
You need a savings bank account with any bank and Aadhaar card to be eligible for this Shriram Life Special Plan apart from all other criteria for eligibility.
Death Benefit
The Shriram Life Special Plan policy guarantees a fixed sum assured of Minimum* ₹2,00,000 up to Maximum* ₹2,00,000 (*Per Member)
Policy Renewal
The policy renews annually, with premium payments due once a year.
Eligibility and Documents Required for Shriram Life Special Plan
| Enter Age (Age last birthday) | Minimum 18 years Maximum 50 years |
|---|---|
| Maturity Age (Age last birthday) | Maximum 55 years |
| Policy Tenure | 1 year (renewable) |
| Premium Paying Term | Single payment |
| Sum Assured | Minimum* ₹2,00,000 up to Maximum* ₹2,00,000 *Per Member |
What Is Covered Under Shriram Life Special Plan?
The main coverage offered under this plan Shriram Life Special Plan is the group term insurance. This plan provides life protection to a minimum group size of 50 members. If any member dies, the sum assured will be paid to the nominee/ legal heir as applicable.
Factors to Consider While Choosing Shriram Life Special Plan
A group term insurance is the easiest way to protect multiple lives together at lower costs. Consider the following factors before you buy the Shriram Life Special Plan-
Premium Affordability
Before you enrol for a Shriram Life Special Plan we request you to please check if the monthly/annual premiums are affordable and in your range.
Health Conditions
Your health conditions shall be evaluated during the policy enrolment process. Please check if your health is in optimal condition.
Premium Payments through Auto-Debit
The policy premium payments of the Shriram Life Special Plan shall be auto-debited from your account. Hence, we request you to maintain sufficient balance.
Policy Tenure
The policy tenure in Shriram Life Special Plan is for one year and renewable every year.
Sum Assured
The sum assured is fixed for the plan included under Shriram Life Special Plan.
FAQs
What are the maturity benefits provided by Shriram Life Special Plan?
There are no maturity benefits provided by Shriram Life Special Plan.
How can I surrender the Shriram Life Special Plan?
You won’t be able to surrender the Shriram Life Special Plan. This is a short-term policy that’s renewable every year.
What are the payment frequency modes available to make the premium payment?
There is only a single payment mode available to make the premium payments. The premium will be directly debited from your savings account once every year, in case of renewal.
How long is the life coverage active in Shriram Life Special Plan?
The life coverage in Shriram Life Special Plan is active as long as your policy is active.
Can I buy the Shriram Life Special Plan for my child?
You can buy the Shriram Life Special Plan for your child once the child is 18 years of age, as per the policy’s eligibility criteria for entry age.
Testimonials
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