Prices Increasing Soon

Shriram Group Term Life Insurance Plan

Shriram Group Term Life Insurance Plan is a pure term plan designed specifically for groups providing insurance benefits to its members at a minimal cost. This is a one-year renewable group term insurance plan that provides the option of lump-sum death benefit option in case of death of the member of the group.

Gets ₹1 Cr. Life Cover at just

COVID-19 Covered

The Policybazaar Advantage

Dedicated claim support for family FREE

Upto 10% discount^# for buying online

Only certified experts will call you on 100% recorded lines

We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future

Get ₹1 Crore Life cover starting from /month⁺

Male

Female

+91

We don’t spam

Check Your Premium Now

Get Updates on WhatsApp

Key Features

It is a yearly renewable pure term insurance plan
The plan can be availed by groups like employer-employee, associations, and social sector groups
A Master Policy held by the group’s head is issued covering the members for a pre-determined amount.
Members are classified into different groups as per their occupations
Any member can be covered if he/she is in good health and has not availed a sick leave of more than 7 days in the 6 months preceding application
Profit-sharing is allowed which lowers subsequent premiums in case of good claim experience

Benefits

The nominee gets the Sum Assured on the death of the policyholder during the term of the plan
Alternatively, monthly income for a predetermined period can also be paid to the nominee in case of death if it is chosen by the member on policy inception
Income tax benefit on the premium paid by the members as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	14 years	79 years
Maturity Age (Last Birthday)	-	80 years
Size of the group	20 members for employer-employee groups otherwise 50 members	No limit
Premium Payment Frequency	Annual, half-yearly, quarterly, monthly
Sum Assured	5000 per member in a lump sum 500 per member per month in monthly benefit option	Depends on the insurer's underwriting principles

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @

Get an online discount of upto 10%^#

Compare 40+ plans from 15 Insurers

⁺Standard T&C Applied

Policy Details

Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days in other modes.
Policy Termination or Surrender Benefit: The policy cannot be surrendered.
Free Look Period: If you would not be pleased with the coverage and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

This group insurance plan offers additional protection through the below-mentioned riders upon payment of additional premium:

Accidental Death and Disability Rider: The sum assured under this rider is paid in case of disability or death of the insured because of an accident. Here, total and permanent disabilities are considered.

Exclusions

In the case of a non-employer employee association, if the policyholder commits suicide within one year of policy inception, 80% of the premium paid is refunded. However, in the case of employee-employer schemes, the suicide exclusion is not applied.