Term Insurance 2897 views November 28, 2019

Shriram Term Insurance

About Shriram Term Insurance

Shriram Life Insurance Term Plan is considered to be India’s best term insurance policy in India. With impressive sum insured, attractive premium rates and enhanced add-ons, Shriram Term Insurance is gaining traction from customers across India. Let’s read further to know more about Shriram Term Insurance Plans.

Term Insurance

To know the right life insurance cover, please fill the details below and our policy experts will get in touch with you


Why Choose Shriram Term Insurance Plans?

Shriram Life Insurance company of India provides various Life Insurance plans namely, Endowment Plans, Unit Linked Plans (ULIPs), Pension Plans, Money Back Plan, however, when we talk about Terms Insurance Plans, Shriram life Terms Insurance plans stand out amongst all the types of term insurance plans currently available in India. Let’s see how.

Low and Affordable Premiums

Shriram provides term insurance plans with the least premium, ensuring a greater degree of affordability amongst people.

Various Plans Available

The company understands the need to have a wide range of choices for you. And hence, the below types of Term Insurance Plans that the company offers are the best term insurance plans in India.

  1. Shriram Life Level Term Insurance Plan: The name itself implies a fixed premium amount and life coverage during the policy term.
  2. Shriram Life Increasing Term Insurance Plan: To fight against inflation and to keep the insured amount safe and protected, the increasing term insurance cover increases the sum assured amount.
  3. Shriram Life Decreasing Term Insurance Plan: Here, the life cover comes down over a period of time.
  4. Shriram Life Term Plans with Return of Premium: Post the relevant tax deductions, the total premium amount is being reimbursed to the policyholder if the person outlasts the policy term.
  5. Shriram Life My Spouse Term Plan: The Plan offers a much lesser premium rate to women. It provides a life coverage till 75 years with the much-advanced protection. The company offers a privileged rate of premium for maintaining a good and healthy life.

Shriram Online Term Insurance Plan

Shriram Life Online Term Plan helps avoid the brokerage and charges of an agent. These plans come with a very low-priced premium amount. For example: A plan with a premium of INR 7343 annually to get a cover of INR  1 Crore. The plan offers a life cover till 75 years. Improved and advanced protection with the options for a complete and all-inclusive cover. With a higher sum assured, you could get a good discount from the company too.

The minimum and maximum sum assured amounts to INR 25 lakh and INR 10 crore, respectively. Rider sum assured varies according to the type of rider. For the critical illness rider, you will have a minimum sum assured of INR 5 lakh. The maximum sum assured is 20% of the policy sum assured. However, the maximum limit won’t exceed INR 20 lakh. The minimum accidental death cover amount is INR 10 lakh, while the maximum is a 100% of the sum assured amount. The maximum benefit won’t exceed INR 10 lakh though.

Critical Illness Rider

The company provides critical illness rider at a much cheaper rate which helps cover the additional expenses with respect to medicines  and rehabilitation which are there in case of critical illnesses.

Things to Know About Shriram Online Term Insurance Plan

  1. A very Simple Claim Process: The company provides a very simple and hassle-free term insurance claim process which makes the life of a nominee easier in handling the claims, thereby providing faster financial security to self and family.
  2. Trained Professionals: The company has highly trained professionals who help the insured in the best possible way with their expert advice.
  3. Freelook period: A definite period offered by the company to refund the amount; in case the insured person is not happy with the policy after purchasing the same.
  4. Entry Age – The minimum age at the time of entering into the policy is 18 years, with the maximum being 55 years.
  5. Maturity Age – The minimum age allowed at the time of policy maturity is 28 years, while the maximum age of the applicant should not be more than 75 years
  6. Policy Term  -The minimum policy term is 10 years, with the maximum being 57 years. The premium paying term remains the same as the policy term chosen by the insured.

How to Buy Shriram Term Insurance Online?

You can buy Shriram Term Insurance online by following the below-mentioned steps –

  • Choose the base option and optional cover as per your needs
  • Compute your premium and choose the premium payment mode
  • Fill the proposal form online and pay the premium online
  • If required, the company will ask you to undergo medical tests


From the above article, we can conclude that a good insurer Like Shriram Life Insurance Company not only provides financial security but also keeps in mind the requirements of people at every stage of an insurance plan. This makes life much easier and the fear of unforeseen incidents is reduced to lead a happy and stress-free life.


What are the documents needed to buy term insurance plans?

The documents needed to term insurance plans from Shriram Life Insurance are:

  1. Proof of Identity
  2. Proof of Address
  3. Proof of Income
  4. Other Documents (if required by the insurer)

Do term insurance plans also offer joint policies for spouses?

Yes, the top insurance companies do provide the joint policies for spouses and so does Shriram Life.

Do I need to buy term insurance even if I am not married?

It would definitely be an added advantage to buy term insurance even if you are not married, as the coverage will help in future.

People Also Read