FAQ's Related to Shriram Life Microinsurance Plan

The maximum age at maturity for the Shriram Grameena Suraksha plan is 65 years. Hence, if your father is 55 years old, it is not possible to buy the Shriram Grameena Suraksha policy for a term of 15 years since it would exceed the maximum maturity age of the plan. However, you can choose a policy term of 10 years. 

Both the death benefit and maturity benefit are not paid in Shriram Life Micro Insurance Plans. The death benefit is paid on the premature demise of the policy holder. On the other hand, the maturity benefit is not paid applicable to all the plans included in Shriram Life Micro Insurance Plans. 

Surrender value is the value that the policy holder receives from the insurance company. If they surrender or terminate their policy before it matures. The surrender value is available only if the policy holder has made the premium payments for at least two years.  

Shriram Life Micro Insurance Plans allow a grace period of 15 days for monthly premiums and 30 days for other premium modes.

A lapsed micro insurance plan can be reinstated or revived based on your policy terms and conditions mentioned in the policy documents. 

Under Shriram Life Micro Insurance Plans, the nominee will receive the death benefit. For more details, please refer to your policy documents.

Yes, you can change the nominee under the Shriram Life Micro Insurance Plans depending upon your policy offerings. 

Please refer to your policy documents or policy brochure for the free look period.

Submitting any earning proof to buy the Shriram Life Micro Insurance Policy is not required.

It is possible to renew your Shriram Life Micro Insurance Plan.