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SHRIRAM LIFE GROUP TERM LIFE INSURANCE PLAN

Shriram Group Term Life Insurance (UIN: 128N042V04) is a one-year renewable group term assurance plan that offers the options of lump sum death benefit in the event of death of a member.

KEY FEATURES

  • Easy to set up and administer the scheme at low cost.
  • Minimal underwriting based on simple insurability conditions.
  • Insurance cover for all members of the scheme with one policy document issued to the master policy holder.
  • Additional protection through Accidental Death and Disability Rider on payment of additional premium.

KEY BENEFITS

Maturity Benefits

Not Applicable

Death Benefits

  • If the member dies, the sum assured will be paid to the nominee / legal heir as applicable
  • Sense of security to their families and increase in productivity at work
  • Tax benefits on benefit proceeds may be available as per prevailing Income Tax laws

Eligibility

ENTRY AGE

Minimum

14 Yrs

Maximum

79 Yrs

(As on last birthday)

MATURITY AGE

Maximum

80 Yrs

(As on last birthday)

SUM ASSURED

Minimum

Rs.5000
Per Member

Maximum

As per policy

MINIMUM GROUP SIZE

  • 20 for employer employee groups
  • 50 for other groups

POLICY TERM

1 Yr

(Annually Renewable)

RIDERS (Add Ons)

Shriram Group Accidental death and Disability Rider

Provides assistance to Life Assured, in the event of permanent / total disability due to an accident.

more

Disclaimers:

  • For more details on the risk factors, terms and conditions please read the sales brochure and/or sample policy document on our website carefully and/or consult our advisor.

  • Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits.