Life Insurance | Life Insurance Policy in India | STFC

One-stop-shop for all your Life Insurance needs

Life Insurance

We at Shriram Transport Finance Co. Ltd., strive to provide comprehensive financial solutions to our customers. Towards meeting this objective, we offer life insurance to our customers through customised products and process in tie up with Shriram Life Insurance Company.

Life insurance offers you risk coverage and takes care of monetary needs of the family in the event of death of the life assured.

Shriram Life Cash Back Term Plan (UIN: 128N045V01) is an affordable, easy-to-obtain financial security net for policy owners and their family. It has a lump sum payout in case of unfortunate death helping the family reduce their debts thereby protecting the financial security. At the same time, the premiums paid towards this policy will be returned on maturity.

KEY FEATURES
  • Enjoy insurance cover at affordable rates.
  • Get return of premiums at maturity.
  • Pay advance premiums and avail discounts.
  • Get additional protection through RIDERS.
KEY BENEFITS

Maturity Benefits

In case of survival of the Life Assured till the end of the policy term, all the premiums paid excluding any extras, rider premiums and taxes will be returned.

Death Benefits

In case of death of the Life Assured during the policy term, provided all the due premiums have been paid, till the date of death, Sum Assured on death will be paid. However the death benefit will be at least 105% of all premiums paid excluding any extra, rider premium and taxes.

Sum Assured on death shall be higher of:
  • 10 times annual premium if age is less than 45 years and 7 times annual premium if age is 45 years and above.
  • Basic sum assured.
Shriram Life Cash Back Term Plan – Key Features
Minimum Maximum
Age at Entry 12 years 50 years
Age at Maturity 70 years
Policy Term 10 years 25 years
Sum Assured Rs. 200,000 Rs. 2,000,000
Premium Paying Term 5 years 25 years
Premium Payment Mode Yearly Yearly

Shriram Life Secure Plus Plan (UIN: 128N059V01) is a non linked, non participating life insurance plan designed to ensure financial security of policy owners to meet uncertainties and make their family feel fully protected. It has a lump sum payout in case of unfortunate death helping their family reduce the debts and protecting financial security. At the same time the premiums paid towards this policy will be returned on maturity.

KEY FEATURES
  • Insurance cover at affordable rates.
  • Return of premiums at maturity.
KEY BENEFITS

Maturity Benefits

On survival of the Life Assured up to the end of the policy term, Maturity Sum Assured equal to “return
of total premiums paid”, excluding underwriting extra premium and loadings for modal premiums if any,
will be payable.

Death Benefits

In case of death of the life assured during the policy term, “death sum assured” will be paid to the nominee(s) / legal heir(s) of the Life assured.

Sum Assured on death shall be higher of:
  • 10 times Annualised Premium if age is less than 45 years and 7 times Annualised Premium if age is 45
    years and above.
  • Basic Sum assured.
  • Maturity sum assured – 105% of the premiums paid till the date of death.
Shriram Life Secure Plus Plan – Key Features
Minimum Maximum
Age at Entry 18 Years 50 Years
Age at Maturity 70 Years
Policy Term 10 Years 20 Years
Sum Assured Rs. 500,000 Rs. 2,000,000
Premium Paying Term 10 years 20 years
Premium Payment Mode Yearly Yearly

We share memorable moments with our family and our loved ones. We work hard to ensure
that we provide them with the best. While we enjoy and cherish those moments we also
need to ensure that we have secured our family from the uncertainties of life. To meet such
needs Shriram Life presents Smart Protection Plan (UIN: 128N069V01), a pure term plan
available at an affordable premium. It provides life cover along with optional Accidental
Cover or Critical Illness Cover.

KEY FEATURES
  • Get annual premium as low as Rs 2,000/Year.
  • Option to avail enhanced protection.
  • Long term cover of up to 30 years.
  • Silver Option: Life Cover.
  • Gold Option: Life Cover with in-built Accidental Death cover.
  • Diamond Option: Life Cover with in-built Critical Illness cover.
KEY BENEFITS

Death Benefits

In case of death of the life assured within the policy term, provided the policy is in force, Silver Option: “Death Sum Assured” is paid to the nominee and the policy terminates
Gold Option: “Death Sum Assured” is paid to the nominee and the policy terminates.

Diamond Option

If death occurs first: “Death Sum Assured” is paid to the nominee and the policy terminates.

If Critical Illness occurs first: On first diagnosis of any of the covered critical illnesses, a critical illness benefit of 25% of Sum Assured is paid and the policy continues for life cover only till the end of the policy term. On death of the life assured during the rest of the policy term “Death Sum Assured” less the critical illness benefit already paid will be paid and the policy terminates.

The future premiums after the incidence of the covered critical illness shall be waived.

Shriram Life Smart Protection Plan – Key Features
Minimum Maximum
Age at Entry 18 Years 65 Years
Age at Maturity 75 Years
Policy Term 10 Years 30 Years
Sum Assured Rs. 100,000 Rs. 1,400,000
Premium Paying Term 10 years 30 years
Premium Payment Mode Yearly Yearly