Shriram Life Insurance Review – Forbes Advisor INDIA – Forbes

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Published: Sep 20, 2022, 11:00am
Shriram Life Insurance offers a wide range of cost-effective individual and group insurance policies in the form of term insurance, savings plans, wealth plans and micro insurance plans. Plans offered have wide policy terms and sum assured coverage along with few useful optional riders such as critical illness and accidental death rider. However, these policies do not offer whole life coverage up to 100 years.
95.82% (for FY 2021-22)

95.82% (for FY 2021-22)

Shriram Life Insurance provides a huge range of savings and endowment plans. These plans provide death, maturity and survival benefits along with optional riders. The policyholder also has an option to accumulate cash bonuses, which can be collected later at the time of maturity. These plans present multiple options of receiving benefits whether as lump sum or in installments, as per the choice of the policyholder.
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Shriram Life Insurance Investment plans are designed in a best way to provide the dual benefits of insurance and investment under the single plan. The policyholder has an option to invest in multiple funds as per their choice and also top-up the coverage amounts as per their requirement. These plans also provide you the life cover along with accidental death and critical illness riders. These investment plans provide an unlimited number of switches at zero cost.
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Shriram Retirement Insurance policies provides annuity or regular income for the lifetime along with life coverage. So, if something happens to the policyholder, then the nominee would be entitled to receive the death benefit payout as per the policy. However, there are no maturity benefits in these plans. The policyholder also has the option to cover their spouse under the same policy.
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Shriram Life Insurance offers both online and offline term plan insurance policies with the coverage up to INR 10 crore. These plans provide discounts on premium rates to women policyholders, non-smokers and policyholders who opt for higher sum assured. The policyholder also has the option to receive their paid premiums back at the time of maturity.
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Shriram Life Insurance Group plans are offered to employees by their company, which acts as a master policyholder, offers employment benefits and provides a fixed and uniform insurance cover, in the form of a group insurance policy. This is an easy, simple and affordable way to have insurance cover for you and your family through your company or employer.
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Step 1: Notify the company about the death of the policyholder, if you are their beneficiary.
Step 2: The beneficiary needs to download the form from the company’s website and fill in the claim application form with other required documents.
Step 3: Once the form is submitted, the insurance company will verify the documents to register the claims.
Step 4: After the successful verification of documents, the insurer provides the payouts as per the policy conditions.
For Forbes Advisor India ratings, we reviewed all the life insurance plans of Shriram Life Insurance on the basis of the following metrics:
Rashi Maheshwari is a Deputy Editor for Forbes Advisor India. She has more than a decade of experience working in news, public relations and communications. In the past, she has worked with CNBC Awaaz, CryptoWire, among others and has covered beats including insurance, personal investments and cryptocurrency. She is a travel enthusiast and would like to visit every country and try as many different culinary specialities as possible.

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