• Shriram Life Group Plans

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Group plans are the best option for companies or individuals looking to protect the financial interests of their families or their employees. In today’s times of economic uncertainty, it is imperative to ensure that customers protect their finances in the long run and procuring insurance plans is one sure shot way for this. There are a number of insurance plans available in the market, hence customers should choose a plan that is most beneficial for them. Shriram Life offers a plethora of insurance plans with a number of unique benefits and features.

    Why Shriram Life?

    First established in 2005, Shriram Life started business operations in the year 2006 and became the first private life insurance provider to make profits in the first three years. Shriram Life boasts of a fantastic Underwriting Record and was also awarded ‘Underwriting Initiative of the year’ for relaxing standards to suit the needs of customers. The company offers insurance plans that are economical and advantageous at reduced premiums and additional benefits.

    1. Shri Sahay (AP)

      This is a yearly premium group insurance option that provides cover for life for those who come from socially weaker backgrounds.

      Benefits

      • Premium is to be paid annually.
      • Life cover is available throughout the policy tenure.
      • The plan is economical and obtaining the plan is hassle-free.
      • In case of death of insured, his/her family receives a lump sum payment.
      • Customers can also procure an accidental benefit rider wherein the nominee of the insured will receive an additional assured sum upon death or permanent disability of the insured due to an accident.
    2. Shri Sahay (SP)

      This micro insurance plan focuses on providing insurance cover for socially weak sections of society.

      Benefits

      • Customers will have to pay a single premium and can avail cover throughout the policy tenure.
      • In case of death of insured, his/her nominee will receive an assured lump sum amount.
      • Policyholders can acquire an accidental benefit rider wherein the nominee of the insured will receive an additional assured sum upon the insured’s death or permanent disability due to an accident.
      • A free look period of 15 days is also available.
    3. Group Term Life Insurance Plan

      This plan by Shriram Life is a single year group term assurance plan that is renewable.

      Benefits

      • In case of untimely demise of insured, his/her nominee will receive an assured lump sum benefit.
      • Customers will also receive tax benefits.
      • In case of death or permanent disability of insured due to an accident, nominee(s) will receive additional assured sum.
      • A free look period of 15 days is available with this policy.
    4. Group Life Protector (SP)

      This is a non-participating, non-linked group plan that assures protection in case of untimely demise of the insured in the group.

      Benefits

      • Customers will have to make a single premium payment.
      • Policyholders can avail tax benefits when they avail this plan.
      • Based on the needs of the group, the cover can be decided for either level cover, monthly reducing cover or annual reducing cover.
      • Customers can procure a free look period when they avail this plan.
    5. New Group Gratuity

      The New Group Gratuity Plan is a non-participating, unit linked plan that offers solutions to provide funds to gratuity liability in an economical manner.

      Benefits

      • This plan offers complete transparency and also flexibility to switch between various fund options.
      • Customers have a choice of unit linked funds and also an optional insurance cover.
      • In case of untimely death of the insured, his/her nominee will receive an assured death benefit.
      • Customers will also receive assistance with the yearly actuarial valuation of all gratuity liabilities.
    6. Term Life Insurance in lieu of EDLI

      Regardless of the salary level, PF balances and services, this plan provides life insurance for all employees of a company. One Master Policy is assigned to the employer and provides insurance benefits for all its employees.

      Benefits

      • The employer has to provide @0.51 percent of the salary towards EDLI.
      • In case of untimely demise of the insured, his/her nominee will receive a lump sum payment.
      • All claim payments are free from taxes.
      • Employer’s premium payment will not be treated as a perquisite to employees.
      • Employer’s premium payment may be looked as a business related expense.
      • The account is quick and hassle free to set up and administer.

    Tips

    Procuring an insurance plan may not be an easy task but it is worth all the effort that has been put into it. Life insurance ensures that a financial protection is provided in cases of unfortunate events. While buying an insurance plan, customers must not opt for the first option that they find but must research and look around as much as possible. This is because every plan comes with different benefits and features. Customers must keep in mind their financial requirements and abilities before opting for a particular plan.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Shriram Life Group Plans Reviews

  • Page 1 of 2 1 2
    • Shriram Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the SHRIRAM LIFE. I pay a premium of 20000 per year, I make payments online and sometimes as cheque. I never had any issues with their services and the features of the policy are equally good. Overall it is a recommendable policy to have.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2018
    • Shriram Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I bought the SHRI RAKSHA POLICY from the Shirarm life and I am using this policy for the past 6 years. This policy has the premium amount of Rs,10500. The customer support service and the response is good with the Shiriram life and their executives will come and collects the payments before the due date.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 02, 2018
    • Shriram Life Life Insurance
      "Better policy to use"
      0.5 4.0/5 "Great!"
      I hold the Shriarm life insurance policy for the past 6 years. This policy is called as tension plan policy and here it has very good policy benefits and the coverage. I pay the premium of Rs,10640 to this policy in every year once. This policy has the tenure of 10years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 02, 2018
    • Shriram Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      Using the life insurance policy from the Shriram life and I have got the Pension plan from Shriram. I am holding 2 pension plan policies from the Shriram. The coverage and the plan benefits are good with this policy. The tenure of 15years is available in the Shriram pension plan policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 02, 2018
    • Shriram Life Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the shriram life insurance policy and the coverage value is fine one for me. I have not done any claims with them till now. Everything is fine one with the Shriram life insurance company.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 13, 2017
    • Shriram Life Life Insurance
      "Best service"
      0.5 5.0/5 "Blown Away!"
      Shriram is the best compare to LIC. They are good in claim experience. Shriram is doing a best service for the customers. I have taken Shriraksha policy which has a tenure of 23 years. I pay premium of 7k yearly through cheque. They are providing double time sum assured.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • Shriram Life Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I haven't pay the premium with the life insurance for past 3 years. I have to go meet the Shriram life office to do the payment, Because of lack of time I couldn't pay the premium on time. I got the life insurance policy around 7 years ago, but I have paid the premium for 3 years of Rs,10,000 annually. The policy coverage and the plan benefits are good with this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 19, 2017
    • Shriram Life Life Insurance
      "Should increase the benefits"
      0.5 4.0/5 "Great!"
      Yearly I used to pay the amount of Rs. 20,000, with the period of ten years. After the period I would be getting only 1.95,000 + interest. I make payment by cheuqe, it the basic benefits of accidental coverage and tax coverage but I am not satisfied with this policy, My cousin is working there, he have refereed it.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 05, 2017
    • Shriram Life Life Insurance
      "Ontime delivery"
      0.5 3.5/5 "Pretty good"
      I have life insurance policy with the Shriram life insurance company and it been referred by my friend and the coverage value is around 35 lakh Rupees after 20 years of time. Premium is around 10948 Rupees per annum. Customer service is fine one with them and I used to dealt with them through their agent. Its a kind of hassle free policy.
      Was this review helpful? 0
      , salem
      Reviewed on Mar 18, 2017
    • Shriram Life Life Insurance
      "Life insurance"
      0.5 5.0/5 "Blown Away!"
      I have opted for the life insurance of SHIRRAM through online. The best part about their customer support is they are calling at the scheduled time and followup was done appropriately,. I am holding this policy since 2015 and they are basically customer satisfactory,
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 15, 2016
    • Shriram Life Life Insurance
      "Need to explore"
      0.5 4.0/5 "Great!"
      I have life insurance policy with Shriram life insurance company and am paying around 9000 Rupees per annum. The returns would be around 3.5 lakh Rupees and I dealt with them through my brother, who is an employee over there. I dint seen any drawback with them.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 06, 2016
    • Shriram Life Life Insurance
      "Very poor "
      0.5 3.0/5 "Satisfactory"
      The service provided was not with Shriram service.I am not having any satisfaction in the service.They have not intimated about the Insurance process with the customer.The plan benefits are less with shriram.The tenure period of the Insurance is around 10years
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 13, 2016
    • Shriram Life Life Insurance
      "Life time coverage."
      0.5 5.0/5 "Blown Away!"
      The service provided was good and I have not faced any drawbacks in the service.They provide 3times of the assured at time of maturity.I make the payments in yearly manner.The tenure period of the plan is for 12years with shriram Life coverage services.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 06, 2016
    • Shriram Life Life Insurance
      "Better"
      0.5 5.0/5 "Blown Away!"
      I have taken the life insurance policy with Shriram life insurance company and I been with them from the last eleven years of time. Customer service is good with them, also I am paying around 3360 Rupees for every quarter of the year. Policy coverage value is around 18 lakh Rupees.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Mar 28, 2016
    • Shriram Life Life Insurance
      "Satisfied"
      0.5 1.5/5 "Bad"
      I have got the life insurance policy with the Shriram insurance company, also it will provide the coverage for health too, also the premium is around 3500 Rupees per annum. I can say its a smooth process and I need to pay the premium for ten years of time. Policy coverage value is around 50 lakh Rupees.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Mar 28, 2016
    • Shriram Life Life Insurance
      "Not satisfied..."
      0.5 1.0/5 "Really Bad"
      Representative is not fine. I open the life insurance at one of the branches and first time the service was better. Later I have not got better response. When I went second time to renew the plan, no one was there to help me. Customer service is not appreciable. Policy benefits are very good at Shriram Life.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 29, 2016
    • Shriram Life Life Insurance
      "Service is not up to the mark "
      0.5 4.0/5 "Great!"
      Shiram is good in the life insurance plan but the customer service is very bad because the response is not up to the mark. I have taken a life plan for the tenure of 10 years after the maturity will get the lump sum amount. Accidental and natural death coverage is given. Payment options is flexible.
      Was this review helpful? 0
      , dindigul
      Reviewed on Jan 05, 2016
    • Shriram Life Life Insurance
      "Super"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Shriram life insurance company and am paying the premium as 15000 Rupees per year of time. I need to pay it for ten years of time and its I will get the returns on specified term period.
      Was this review helpful? 1
      , salem
      Reviewed on Dec 31, 2015
    • Shriram Life Life Insurance
      "Best plan "
      0.5 3.5/5 "Pretty good"
      Shriram life is giving different plans and more offers comparing with lic. I have taken life insurance with the tenure of 15 yeas. Premium is use to be paid every year. In case any unfortunate take place to the insure the plan will be continued and double the maturity will be given to the family members.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 16, 2015
    • Shriram Life Life Insurance
      "Good Company "
      0.5 3.0/5 "Satisfactory"
      From shriam life insurance i have taken two life insurance policies for the tenure of 15 years. Policy coverage offered is double the sum assured in case of unfortunate take place . We have to pay the payment in the service center were as now they have improve the best by connecting with axis bank. My friend is the agent so he gives the best service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 30, 2015
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