Shriram Life Insurance Company Limited

Shriram Life Insurance Company Limited

Shriram Life Insurance Company (SLIC) started operations in the year 2006 as a joint venture between the Shriram Group and Sanlam, a leading financial services group based in Cape Town, South Africa. The company’s aim to offer life insurance plans and solutions for a comprehensive set of people adheres well to the Shriram group`s philosophy of financial inclusion.

Shriram Group started in 1974, is now a well-known name in the financial sector, offering a wide range of financial services from insurance, commercial vehicle finance, consumer and enterprise finance to wealth advisory services, along with domestic and overseas investment solutions. Founded in 1974 by Padma Bhushan R. Thyagarajan, the group is valued at 90,000 crores, has 3800 offices across the country, and employs 77,000 employees.

Important Facts about Shriram Life Insurance

• The Shriram Capital Group has Rs 1 Lakh Crore assets under management and actively serves more than one crore customers across India.
• The AUM of Shriram Life Insurance has touched a total of Rs 6261 crores for the previous financial year.
• The company has received the gold award for customer service handling from the Confederation of Indian Industry.
• Best Customer Experience in Financial Sector (2020) award, given to Shriram life insurance.

Why choose Shriram life insurance?

• Customer focus:
•  Shriram Life has always focussed on bringing inclusive growth and has put the ordinary person at the forefront when it comes to designing their policies.
• Trust:
•  The Shriram group has established trust in the financial sector for over 45 years and has touched the lives of millions of people. Sanlam, their partner in the life insurance business, is also a popular insurance player in South Africa.
• Wide choice of plans:
•  Shriram Life Insurance offers a complete gamut of insurance products that are not limited only to individual life insurance but also include group plans that provide coverage and protection. 

Types of Insurance products offered by Shriram Life Insurance

• Online Plans: Life insurance is a necessity nowadays, considering the uncertainties in today’s world. Shriram life provides insurance policies that can be purchased online from the comfort of your home to help you protect against such difficulties.
• Term Plans: Availing a term insurance policy assures financial security to your family in case anything untoward happens to you within the policy term. The low-cost premium is also another reason for experts to suggest getting this policy while you are young.
• Savings Plans: Saving for children’s higher education or buying a home, or purchasing jewels? Shriram life savings plans are designed in such a way that it helps to build savings for short- or long-term financial needs while still being insured.
• Investment Plans: These are also called unit-linked insurance plans (ULIP), which offer both life cover and savings through market-linked returns – in a single policy. Shriram life insurance provides multiple options for benefit payouts, too, under this plan.
• Retirement Plans: Having a regular income post-retirement income and life protection is the benefit of opting for retirement plans. Shriram life insurance assists individuals in building a sizeable corpus to meet their retirement goals through these policies.
• Microinsurance Plans: A microinsurance term plan is primarily designed for people belonging to the weaker section of society, providing them with an option to get life insurance at a low cost.
• Employee Benefit Plans:  These plans provide insurance benefits to employees over and above the extended facilities. Employers can take these plans from Shriram life insurance to manage the employee pension fund, fund gratuity liability, etc., of their employees too.

Visit iiflinsurance.com for more detailed information on the plans and policies offered by Shriram life insurance.