Life Insurance

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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: 128N045V02) 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
  • Insurance cover at affordable rates.
  • Return of premiums at maturity.
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
MinimumMaximum
Age at Entry12 years50 years
Age at Maturity70 years
Policy Term10 years25 years
Sum AssuredRs. 200,000Rs. 2,000,000
Premium Paying Term5 years25 years
Premium Payment ModeYearlyYearly

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: 128N069V02), 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
MinimumMaximum
Age at Entry18 Years65 Years
Age at Maturity75 Years
Policy Term10 Years30 Years
Sum AssuredRs. 100,000Rs. 1,400,000
Premium Paying Term10 years30 years
Premium Payment ModeYearlyYearly