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Online Term Plan

Better Coverage, Flexible Payouts and Easy Purchase with Shriram Life Online Term Plan

Better Coverage, Flexible Payouts and Easy Purchase with Shriram Life Online Term Plan

  • Self
  • Spouse
  • Child
  • Grand Child
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FAQs for Shriram Life Online Term Plan

How many add-ons can I buy with Shriram Life Online Term Plan?

You can buy one or both add-ons available with Shriram Life Online Term Plan. However, optional add-ons come at an additional premium cost. Buying one or both add-ons will proportionately increase your premiums. 

Does Shriram Life Online Term Plan cover critical illness? 

Shriram Life Online Term Plan does not cover critical illness. However, you can buy the optional critical illness rider with the plan to get coverage against 23 major critical illnesses. 

How much monthly earnings would I get if I select the monthly earning base option under Shriram Life Online Term Plan? 

You will get 1% of the sum assured as fixed monthly earnings from the month of the demise of the life insured for 10 years or till the end of the term of the policy, whichever is later under the Shriram Life Online Term Plan

How can I file a claim for Shriram Life Online Term Plan through email? 

You can email Shriram Life at claimsupport@shriramlife.in for filing a claim for Shriram Life Online Term Plan through email.

Is a loan facility available under the Shriram Life Online Term Plan?

The facility of loan is not available under the Shriram Life Online Term Plan

Can I return the Shriram Life Online Term Plan after I have brought it and paid the premium? 

You can return the Shriram Life Online Term Plan after purchase within 30 days of receipt of the policy documents if you are not satisfied with the term and conditions of the plan. 

What will be the monthly earning as a death benefit under the online term insurance policy if the sum assured is ₹25 lakhs? 

The death benefit is paid as monthly earnings as one of the base options Shriram Life Online Term Plan. It is calculated as 1% of the sum assured of the plan. So, if the sum assured is ₹25 lakhs, the monthly earning would be 1% of ₹25 lakhs = ₹25,000.

What is the grace period in Shriram Life Online Term Plan?

Shriram Life Online Term Plan provides a grace period of 15 days for the monthly premium payment mode and 30 days for other premium payment modes.

What is the surrender value under Shriram Life Online Term Plan?

There is no surrender value under Shriram Life Online Term Plan.

What will happen if I fail to pay the due premiums of the Shriram Term Life Insurance even during the grace period?

If you fail to pay the due premiums of the Shriram Term Life Insurance even during the grace period, your policy will lapse and no life cover will be provided during the period when your policy is in the lapsed state.

Disclaimer

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

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