Shriram Life Term Insurance Calculator

Shriram Life Term Insurance Calculator

A joint venture between Shriram Capital and Sanlam, Shriram Life Insurance is a private insurance company with 529 branches across the country. It aims at providing 100% customer satisfaction through a range of quality insurance products and excellent customer service. The policyholders can access the products and services like paying premiums, request changes in policy, request policy status, and more through its mobile application ‘ShriMithra,’ launched in September 2019.

Shriram Life Insurance offers an array of affordable life insurance plans, including term plans, savings, and investment plans, retirement plans, microinsurance, and many more. In addition, it also offers rider benefits at a nominal premium cost.

The Term Insurance Premium Calculator by Shriram Life Insurance is a useful financial tool to calculate the premium payable for a coverage amount. This free-of-cost online tool is easy to use and gives accurate results while assisting you in making the right buying decision.

Benefits of Shriram Life Term Insurance Calculator

• Right buying decision: Shriram Life Term Insurance Calculator calculates the exact premium amount to pay towards the required assured sum. It helps in analyzing the right term insurance plan based on the provided inputs.
• Saves time: The term insurance calculator provides the results in less than a minute, saving a lot of time compared to manual calculation.

Shriram Life Term Insurance Plans

• Shriram Life Smart Protection Plan
• Shriram Life Smart Protection Plan SP
• Shriram Life Online Term Plan
• Shriram Life Family Protection
• Shriram Life Cash Back Term Plan
• Shriram Life My Spouse Term Plan
• Corona Rakshak Policy
• Shriram Life Saral Jeevan Bima

Below are the details about term insurance plans offered by Shriram Life Insurance:

1. Shriram Life Smart Protection Plan: Shriram Life Smart Protection term insurance plan offers a long-term cover up to 30 years with a yearly premium as low as Rs 2,000. Its main feature includes comprehensive death benefits along with other optional covers to enhance the existing protection.

2. Shriram Life Smart Protection Plan SP: Shriram Life Smart Protection Plan SP requires a single premium payment while offering life-long cover with an additional accidental cover or critical illness cover option. The main features of this plan include a death benefit and maturity benefit.

3. Shriram Life Online Term Plan: This term insurance plan comes with a minimum tenure of 10 years and a maximum of 57 years and offers coverage till the age of 75 years. Women policy buyers get the benefit of low premium rates for buying the policy.

4. Shriram Life Family Protection Plan: Shriram Life Family Protection Plan is a non-linked, non-participating term insurance plan, useful for those who want to secure their families against untimely death. It offers comprehensive life cover at affordable rates.

5. Shriram Life Cash Back Term Plan: Shriram Life Cash Back Term Plan offers the flexibility to choose policy term from 10/15/20/25 years as per your preference and requirement. It comes with a maturity benefit wherein it returns all the premiums paid on policy maturity along with a lump-sum death benefit amount in case of your sudden demise within the policy tenure.

6. Shriram Life My Spouse Term Plan: Shriram Life My Spouse Term Plan is a pure protection plan designed to offer life cover for your spouse against unfortunate circumstances of life. The policy term ranges between 10 to 57 years and provides a death benefit, terminal illness, and critical illness cover.

7. Corona Rakshak Policy: As the name suggests, Corona Rakshak Policy by Shriram Life Insurance offers lump sum benefit if diagnosed with COVID-19 and hospitalization due to the same. The plan pays 100% of the sum insured, but it does not provide death and maturity benefits.

8. Shriram Life Saral Jeevan Bima: Shriram Life Saral Jeevan Bima offers financial security to the insured’s family in their absence. The plan comes with standard terms and guidelines, which makes it easily understandable by everyone. It offers policyholders flexible premium payment terms and policy terms to choose from as per their requirements. This plan also provides an accident benefit rider option to add to the base policy.

Benefits of Shriram Life Term Insurance Plans

Term insurance plans at Shriram Life Insurance Company are carefully designed to provide optimum financial security to the policyholders catering to their different requirements. The primary benefits of these term plans are they give comprehensive protection at affordable premium rates.

• Maturity benefit: the Cash Back Term Insurance Policy by Shriram Life Insurance offers a 105% return of premium amount on policy maturity. Therefore, along with death benefits, it promises to offer higher financial security of policy survival.
• Rider benefits: Shriram Life Insurance term plans come with four-rider benefits – Shriram Critical Illness Cover, Family Income Benefit Rider, Accident benefit rider, and Shriram Extra Insurance Cover Rider. These riders are the add-on benefits that enhance the scope of the base cover.
• Tax Benefits: Shriram Life term plans are eligible for tax exemptions under the prevailing laws of the Income Tax Act 1961.