Life comes with no guarantees, we do..
We all spend time and money to plan for our future starting with securing our loved ones. Whether we are still an individual or married or have children, the need for security remains. Planning for financial security is a very important decision we all should avail to safeguard our family against uncertainties of life. We at Shriram Life understand your responsibilities towards your family and present you Shriram Life Online Term Plan. We have thoughtfully designed this product to suit your requirements of comprehensive coverage with at affordable premiums.
Longer Protection: Provides life cover up to the age of 75 years
Complete Protection: Enhance your protection with Optional Coverage for a complete peace of mind
High Sum Assured Discount: Discount in premium rate in case you opt for a Higher Sum Assured
Lower Premium Rates For Women: 3 years setback on rates for women
The premium would vary based on choice of the benefit Options.
₹ 25 Lakhs
₹ 10 Crore
₹ 5 Lakhs
₹ 10 Lakhs
₹ 25 Lakhs
₹ 10 Crore
₹ 5 Lakhs
₹ 10 Lakhs
Our Term Insurance Plan
|Claim Type||What you get||Policy Status|
|Death claim||Base option benefits||Plan terminates|
|Death due to accident (if opted for accidental death benefit cover)||Base option benefits and accidental death benefit||Plan terminates|
|Terminal illness||Base option benefits||Plan terminates|
|Total & permanent disability due to accident||All future premiums including premium for optional benefits are waived off||Plan continues for the remaining policy term.|
|Total & permanent disability due to accident||Sum assured under critical illness is paid and corresponding future premium ceases.||Plan continues for the remaining policy term and customer continues to pay reduced premium.|
NOTE: Benefits are paid provided the policy is in force
Select the Base Option as per your requirement
Select the Optional Cover as per your needs
Calculate your premium and select the mode of premium payment
Fill the proposal form online and make the payment online
Undergo medical tests only if required
Term Insurance Plans and what you need to know before buying
A term insurance plan is a specific type of life insurance policy that provides protection for a definite period of time or ‘term’. In the event of the unfortunate demise of the insured person during the specified term, the insurance company pays the beneficiaries of the insured a pre-determined sum of money. Term plans are the most economical plans of all life insurance policies as they provide life cover at cheaper premiums. These however do not provide any maturity benefits.
Level Term Insurance: Most common type where the premium amount and life cover remain constant throughout the term of the policy.
Increasing Term Insurance: The sum assured increases over time; as the life cover increases, it adjusts for inflation, so that the insured person is never underinsured.
Decreasing Term Insurance: The life cover decreases over time at a predetermined rate, with reductions in policy payout typically occurring monthly or annually.
Term Plans with Return of Premium: In this case the total premium amount, after applicable tax deductions, is refunded to the policyholder, if he/she outlives the term of the policy.
Research shows that Online term plans, on an average, are approximately 30% – 40% cheaper than offline term policies bought from an agent or through a broker. This is probably because of zero involvement of intermediaries in the process.
Added perks such as coverage of terminal illnesses and monthly income benefits
Benefits of riders over and above the optional covers available
Cheaper than offline term plans
Availability of longer term periods of upto 75 years of age
Easy & speedy purchase and renewals
Don’t go in for meagre policies –
Your sum assured must be at least 20-30% higher than the sum of all your potential expenses. Time value of money also needs to be accounted for. As the premium difference is not much, there is not point in being penny wise and pound foolish.
Increase in your Premium is not a bad sign –
An increase in premium indicates that you have moved to a high risk category. This is a not a bad thing because it means that the company anticipates a future outflow and is still offering to cover you.
Sooner the better –
A good insurance policy and an affordable premium; both are largely influenced by your age and general health.
Not past your retirement age –
Essentially, a term life insurance plan is for your family and the probability that they depend on you financially past this age is low. Since this is not exactly an investment, you need not spend on a term plan longer than absolutely necessary.
Be honest –
The worst thing you can do while buying an insurance is lying about your health, lifestyle or family history. Even if you are not caught in the beginning it will definitely surface when your family decides to claim, which means your family was under a misconception that they were protected.
Benefits are paid provided all the premiums are paid and the policy is in force.
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
IRDAI Regn No. 128
BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRADULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
The Trade Logo displayed above belongs to Shriram Value Services Limited (“SVS”) and used by Shriram Life Insurance Company Limited under a License agreement.”
ARN – SLIC/Elec/Jan 2021/65