Group Life Protector SP

Get Affordable, Extensive
Coverage with the
Shriram Life Group Life
Protector Plan SP

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Shriram Life Group Life Protector SP Eligibility and Documents Required

To buy Shriram Life Group Life Protector SP, you will need to fulfil the following life protector plan eligibility criteria:

Eligible groups Institutions, societies and associations exposed to the risk of default on loan repayment as a result of death. This includes: Non -Government Organisations (NGOs), Self-Help Groups (SHG),Micro Finance Institution (MFI),RBI regulated NBFC-MFIs, District Cooperative Banks licensed by Reserve bank of India, Regional Rural Banks, Urban Co-operative Banks, RBI regulated Scheduled Banks- PSU and Private Banks, Small Finance Banks, Housing Finance Companies regulated by NHB, State Co-operative Banks, Primary agricultural Cooperative Societies, Other Co-operative Societies registered under Co-operative Societies Acts, Any other Credit Societies offering loans to unorganised groups, Any other Lender borrower groups offering loans to unorganised groups.
Age criteria

Entry Minimum: 18 years

Entry Maximum: 69 years

Maximum maturity 70 years
Policy term 1 year to 30 years
Premium paying term Single premium
Premium mode Single premium
Minimum cover ₹5,000 per member
Minimum group size 50 members
Maximum Cover ₹100 crores per member subject to the Board approved underwriting policy


For more details on risk factors, terms, and conditions please read the sales brochure carefully before concluding a sale.  

*Tax Benefits:  
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.  
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time.

IRDAI Regn No: 128  
CIN No : U66010TG2005PLC045616 of the Company

The Trade Logo displayed above belongs to Shriram Value Services Limited (“SVS”) and used by Shriram Life Insurance Company Limited under a License agreement.”


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