- About Coverfox
Incorporated in 2005, Shriram Life Insurance Company (SLIC) has a network of over 550 offices across India. Shriram Life Insurance Company is a joint venture between Sanlam, a leading financial services group based in Cape Town, South Africa and Primal Group, a global business conglomerate with operations in over 30 countries and Shriram Group.
Note: All information has been sourced from the official website of Shriram Life.
Shriram Life Online Term Plan
Shriram Life Online Term Plan is a Non Linked Non Participating Online Term Life Insurance Plan offered by Shriram Life Insurance Company, which comes with comprehensive coverage and affordable premiums.
The features of this plan are:
The benefits of this plan are:
Death benefit is defined as the highest of:
The eligibility criteria for this plan is:
|Criteria / Base Option||Lump Sum option||Monthly Income / Lump Sum + Monthly Income|
|Age at entry||18 – 55 years||18 – 45 years|
|Minimum Maturity Age||28 years||38 years|
|Maximum age at maturity||75 years||65 years|
|Sum Assured Range||Rs. 25 lakhs to Rs. 10 Crores (in multiples of Rs. 1 lakh)|
|Policy Term||10 to 57 years||20 to 47 years|
|Premium Payment Term||Equal to Policy Term|
|Minimum Premium||Rs. 1,695 per annum|
|Premium Mode||Yearly, Half Yearly, Quarterly, Monthly|
|Terminal Illness Cover||Equal to Sum Assured|
|Critical Illness Cover||
Minimum: Rs. 5 lakhs
Maximum: 20% of Sum Assured subject to a limit of Rs. 20 lakhs
|Accidental Death Benefit Cover||
Minimum: Rs 10 lakhs
Maximum: 100% of Sum Assured subject to a limit of Rs. 1 Crore
The documents required to buy Shriram Life Online Term Plan are-
Suicide Exclusion: In case of suicide within one year from the policy inception date, 80% of the premiums will be paid to the nominee as death benefit. In case of suicide within one year from the revival date of the policy, if revived, 80% of the premiums paid till the date of death, will be paid to the nominee as death benefit.
A term insurance plan is a specific type of life insurance policy that provides protection for a definite period of time or ‘term’. Any individual who has a family or dependents should purchase a term plan.
How to pay premium? What are the modes of payment available?
Premium can be paid via monthly/quarterly/half-yearly/yearly mode. The different modes of paying premium are: Credit/Debit Cards|Net/Online Banking|eWallets|Prepaid Cards|SIP|ECS|Cheque|Direct Deposit|Cash.
How can I check policy status for Shriram life term insurance plans?
You can check the status of your policy by simply logging into your account on the official website of Shriram Life Insurance Company. Once logged in, you can view all the details regarding your policy.
What is the policy renewal process for Shriram life term insurance plans?
You can renew the policy by logging into your account on the official website of Shriram Life Insurance Company. Once logged in, select the renewal option and make the premium payment online. You can also visit any of the branch offices of Shriram Life and pay the renewal premium to renew your term insurance plans.
What is the company's process to settle claim for Shriram life term insurance plans?
In the event of death of Life Assured, the Nominee/beneficiary under the policy may approach the nearest Branch Office and submit the following mandatory documents for registration of Death Claim.
What is the policy cancellation process for Shriram life term insurance plans?
In order to cancel the term plan, the policyholder is required to visit the branch physically and surrender the plan in writing and submitting the required dully filled forms and documents.