Here is brief profile of Shriram Life Insurance.
Shriram Life Insurance
Shriram Life Insurance is a joint venture of the Shriram Group of India and SANLAM of South Africa. The group offers several policies catering to various needs of the policy holders. Along with life insurance, distinct policies cover subjects like child education, retirement funds, marriage of children, expectation of high returns etc. The Group has a customer base of 30 lakhs chit subscribers and investors and operates through a network of 630 offices all over the country. The Group has the largest agency force in the private sector consisting of more than 75,000 loyal and dedicated agents. Efficiency in operations, integrity and a strong focus on catering to the needs of the common man, by offering high quality and cost-effective products and services, are the values driving the organization. Each product or service is tailor-made to perfectly suit the needs of the customer. It is this guiding philosophy of putting people first that has brought the company closer to its clientele and has made it the preferred choice amongst the customers.
New ULIP Plans
- Shriram Ujjwal Life – Shriram Ujjwal Life is a regular premium unit linked insurance plan that protects your family against uncertain events in future
- Shriram Ujjwal Life (SP) – This is a single premium unit linked insurance plan which helps people accomplish all their long-term financial goals.
- Shriram Wealth Plus – Another plan that not only covers life but also helps you save enough for your goals. Sum assured is eiter payable to the insurer at term’s end or to the family, in the event of the insurer’s family.
Shrlife combines security and savings. Premium is payable at regular intervals and life cover is available throughout the policy term. Sum assured along with vested bonuses is paid when the policy comes to an end. The premium paying frequency is yearly, half yearly or quarterly.
This plan combines security with savings. Benefits payable to any policyholder during the policy term are twice the sum assured along with accrued bonuses. Sum assured is paid when the policy comes to an end. Simple reversionary bonus accrues during the premium paying term.
It provides security for the child's education. Life cover for the child is also available throughout the policy term. Sum Assured and vested bonuses are paid at the maturity of the policy. The policy holder gets a grace of one month for paying premiums. If premium is not paid before the end of the grace period, the policy lapses. However, it can be revived.
The premium is payable only once but life cover is available. In the event of insurer's death during the policy term, twice the sum assured along with vested bonuses is paid to the immediate family. On survival up to the end of the policy term, sum assured along with vested bonuses is paid.
This plan helps in planning marriages of one's children. Sum assured and vested bonuses are payable both at term end or in the event of insurer's death however, in the event of death, an additional 1% of the sum assured is also payable monthly to the immediate family till maturity.
This plan provides life cover for individuals. The premium is payable annually and life cover is available after one year from the date of acceptance of the policy up to the end of the term.
It is a single premium annuity plan that provides a series of payments at regular intervals as long as the policyholder survives and returns the purchase price, upon death, to the nominee.
Shriram Akshay Nidhi
This is a regular premium money back policy with participation in profits. Premiums are payable at regular intervals during the term of the policy. This plan comes with full insurance protection throughout the term of the policy, irrespective of survival benefits paid.
- Shriram JanaSuraksha – It is a one year, renewable group term assurance plan that assures payment of principle amount to the employee’s immediate family, upon an employee’s sudden demise.
- Shriram Credit Shield – Shriram credit shield group insurance product is basically for loan providers, to protect against default of payment of loan by their customers in case of their untimely death.
- Shri Sahay (AP) – Shri Sahay‐AP is an Annual Premium Group Insurance plan that provides life cover for socially weaker sections of population.
- Shri Sahay (SP) – Shri Sahay is a Micro Insurance plan that provides a life cover for the socially weaker sections of the society.
- Star Shri Individual Care – This policy offers both Life and Health covers. It provides for regular hospitalization benefits and also provides for payment of a lump-sum amount in the event of an unfortunate death.
- Star Shri Family Care – This policy includes all the benefits on Star Shri Individual Care and extends the same benefits to children above 5 months if any of the parents are insured. It takes care of surgical, nursing, hospitalisation expenses along with drug expenses.
Shriram Life Insurance Company Limited
3-6-478, 3rd Floor, Anand Estates,
Liberty Road, Himayat Nagar,
Hyderabad - 500 029, India
Phone - +91 - 40 - 2343 4466