Shriram Group Term Life Insurance (UIN-128N042V01)

Lump sum benefit option:

Monthly income benefit option:

• The sum assured chosen by the member of the group policy at policy issue / renewal / during the policy term will be paid as lump sum to the nominee / legal heir as applicable. in the event of the death of the member. The master policy holder will facilitate the claim process. The cover can be uniform for all the members of the group or graded for different classes of the membership. For example, employer and employee groups can choose this benefit as a multiple of monthly salary of the member.
• The sum assured chosen by the member of the group policy at policy issue / renewal will be equal to the level monthly instalment at the time of commencement / renewal of the scheme multiplied by the payment period in months. The sum assured and the monthly income benefit can be uniform for all members of the group or graded sum assured and monthly income benefit for different classes of the membership. Monthly income benefits in payment will continue irrespective of whether the scheme is renewed.

Lump sum benefit option: If the member dies, the sum assured will be paid to the nominee / legal heir as applicable.

Monthly income benefit option: if the member dies, the monthly income benefits will be paid to the nominee / legal heir as applicable from the 1st of the month following the month of death till the end of benefit payment period / retirement age whichever is applicable.

In case of death of the nominee while the monthly benefits are being paid, the remaining monthly installments will be paid to the legal heir. No further benefits will be paid after the retirement age or after the end of the benefit payment period whichever is applicable.

• Sense of security to their families and increase in productivity at work.
• Tax benefits and benefit proceeds may be available as per prevailing Income Tax laws.

The benefits not available under this policy are Surrender Benefit, Loans and Maturity Benefits.