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Shriram Life Term Insurance is designed to offer affordable and reliable financial protection to families across India. With a strong focus on serving every income segment, especially the low-income individuals, Shriram Life provides term plans that ensure your loved ones remain financially secure even in your absence.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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Backed by trust, simplicity, and accessibility, these plans offer comprehensive coverage with features tailored to meet real-life needs. Whether you're safeguarding your family's future or planning long-term responsibilities, Shriram Life Term Insurance makes protection both practical and meaningful.
Term Plans
Shriram term life insurance plans allow customers to ensure the financial protection of their loved ones in the event of their unfortunate demise during the policy tenure. Let us take a look at the eligibility conditions and benefits of the various Shriram life term insurance offered by the company in India:
| Shriram Term Insurance Plans | Entry Age | Max. Maturity Age | Policy Term | |
| Shriram Life Online Term Plan | 18 – 55 years | 75 years | 10 – 57 years | |
| Shriram Life Cash Back Term Plan | 12 – 50 years | 70 years | 10/15/20/25 years | |
| Shriram Life Family Protection Plan | 18 – 60 years | 75 years | 10 – 25 years | |
| Shriram Life Smart Protection Plan | 18 – 65 years | 75 years | 10 – 30 years | |
| Shriram Life Smart Protection Plan SP | 18 – 65 years | 75 years | 6 – 10 years |
Shriram Life Online Term Plan
Choose from Lump sum, Monthly income, or Lumpsum+ monthly income plan options
Add any of the following Accident Benefit Rider and Shriram Life Critical Illness Plus Rider
Get Minimum 25 lakhs sum assured and Maximum 10 crores sum assured with this plan
Shriram Life Cash Back Term Plan
Choose the right premium pay tenures as per your convenience and pay in monthly, quarterly, half-yearly, or yearly modes
Add the Accident Benefit Rider, the Shriram Life Critical Illness Plus Rider, or the Family Income Benefit Rider to the base plan
The sum assured ranges from 2 to 20 Lakhs with this Shriram term insurance plan
Shriram Life Family Protection Plan
You can choose from 2 benefit payout options: Lump sum benefits and Installments
Pay the premiums in single, regular, or limited (5, 10 years) premium pay tenures in monthly or yearly modes
The minimum or maximum sum assured offered are 10 Lakhs and 5 Crores respectively
Shriram Life Smart Protection Plan
You can choose from Silver, Gold, or Diamond plan options
Get minimum 1 Lakh and maximum 14 Lakh sum assured
Pay the premiums in monthly, quarterly, semi-annual, or annual modes
Shriram Life Smart Protection Plan SP
Choose from Silver option, Gold option, and Diamond option
Minimum 3 Lakh sum assured and maximum 14 Lakhs sum assured is offered under the plan
The minimum premium applicable under the policy is Rs. 6000
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The following are the ways in which buying a Shriram life insurance term plan can benefit you:
Financial Security for Family’s Future
In the event of your untimely demise, your family receives a lump sum or income benefit, helping them manage loans, daily expenses, and future goals.
High Claim Settlement Ratio
With a strong track record of settling term insurance claims efficiently, Shriram Life provides peace of mind that your family will receive timely financial support when needed most.
Affordable Premiums for Comprehensive Cover
Shriram Life term insurance plans have affordable premium rates, making life cover accessible even to customers from low- and middle-income groups.
Flexible Policy Options with Rider Add-ons
Shriram Life term plans offer additional term insurance riders like Accidental Death Benefit and Critical Illness cover, enabling you to customise protection as per your specific needs.
Tax Benefits Under Sections 80C & 10(10D)
Premiums paid and the death benefit received are eligible for term insurance tax benefits as per prevailing laws, making it a smart financial planning tool.
Young Earning Individuals: If you are in your 20s or 30s, buying a term plan early locks in lower premiums and ensures long-term financial protection for your family.
Parents with Young Dependents:If you have children or aging parents relying on your income, a term plan for parents ensures their lifestyle and education won’t be disrupted in your absence.
Married Couples: Married individuals with dependent spouse can buy Shriram term life insurance plans to ensure the financial protection of their loved ones.
Primary Breadwinners: Shriram Life is well-suited for individuals who support their families and want cost-effective protection without compromising on coverage.
Self-Employed Professionals: Those with irregular income or business liabilities can benefit from buying Shriram term insurance for self-employed that provide financial backup and loan protection.
| Document Category | Accepted Documents |
| Identity Proof | Aadhaar Card, Passport, Voter’s ID Card, Driving Licence, PAN Card |
| Age Proof | Birth Certificate, Aadhaar Card, Voter’s ID Card, School Leaving Certificate, Driving Licence, Passport |
| Address Proof | Rent Agreement, Property Deed, Utility Bills (electricity, water, etc.), Aadhaar Card, Voter’s ID Card, Passport |
| Salary/Income Proof | Salary Slip, Form 16, Income Tax Return (ITR), Audited Financial Statements (for self-employed) |
| KYC Documents | Aadhaar Card, PAN Card, Bank Account Details (Cancelled Cheque/Passbook Copy) |
| Additional Documents | Medical Reports, Employment Proof, or any other documents requested by the insurer |
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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