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Shriram Life Insurance FAQs

84 reviews Rate This
Claim Settlement Ratio95.12%
Customer Care24x7
Death Benefit Paid For2,816 Policies
Presence529 Branches
Total Death Benefit PaidRs. 77.88 Crore

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification


  • What do you mean by Shriram Life Insurance benefit illustration?

    Shriram life Insurance benefit illustration exhibits the product nature before the client, their benefits, and the circumstances under which the benefit shall be transferred. Furthermore, it shall also be distinguished on the grounds of guaranteed and non-guaranteed benefits.

  • What is the Death Benefit option in my Shriram Life Insurance policy?

    The Death benefit option in my Shriram Life Insurance Policy is at least 105% of all the premium paid. The death benefit is offered to the nominee and the policy is terminated.

  • Is there any partial withdrawal facility available with Shriram Life Insurance Company?

    Any fraction or portion withdrawal or encashed fund from Shriram Life Insurance by the policyholder during the contract period is known as the partial withdrawal. You are eligible for such withdrawals only after the fifth policy anniversary that is after the first five years of the start of your premium payment schedule.

  • Is there any lock-in period for Shriram Life Insurance Policy?

    For all the Shriram Life Insurance plans issued before 01st of September, 2010, the lock-in period is for a 5-year tenure while for all those plans issued after 01st of September, 2010, the lock-in period is for a 3-year tenure.

  • What is the benefit of buying Shriram Life Insurance other than the risk cover?

    Other than providing risk cover, the insurance also provides you relaxation in income tax. The policy also creates savings and it can be used as a guarantee when taking a loan.

Claim Settlement

  • How can I contact the Shriram Life Insurance Claim settlement process in case of any difficulty?

    You may either call Shriram Life Insurance on 1800-3000-6116 or write to

  • Are the Shriram Life Insurance Claim Forms available only in English?

    No. To facilitate all customers with the ease of the claim settlement process, Shriram Life Insurance has made available the death claim forms in 9 different vernacular languages – Hindi, Bengali, Gujarati, Tamil, Telugu, Oriya, Marathi, Kannada, and Malayalam. You may browse the forms in your native language under the Claims Form section page.

  • What about the Shriram Life Insurance claim amount if the nominee dies during the policy term?

    In case of the death of the nominee during the Shriram Life Insurance policy term, the insured is bound to nominate someone else under Insurance Act Section 39.

  • What will be the average period required to settle the Shriram Life Insurance claim raised?

    If you have the complete set of claim documents ready with you, your Shriram Life Insurance claim can be settled within 30 days. Some claims may require further investigation which may consume a bit of more time.

  • Can the claims be rejected by Shriram Life Insurance Company?

    Yes, your claims can be rejected on the grounds of Lapsation Status of Insurance Policy. This Shriram Life Insurance policy indicates a non-coverage of a particular loss of event which has not been qualified under the loss definition (either marginally or totally).


  • What is Survival Benefit in Shriram Life Insurance?

    Survival Benefit in Shriram Life Insurance is the sum assured in the policy which is paid in the predefined number of installments.

  • What is a rider in Shriram Life insurance plans?

    Riders are the additional insurance benefits that add to your Shriram LIfe insurance policies. It is a condition or a clause which adds across your basic plan in the form of extra premiums or add-on benefits.

  • Is nomination required for availing of Shriram Life Insurance Policy?

    The nomination is quite essential as the nominated person is entitled to claim the assured amount from Shriram Life Insurance Company in the event of the claimant's death.

  • How can you check the fund value of your Shriram Life Insurance Policy?

    The value of Policy is the “Fund Value”. To check your insurance policy's fund values, you first need to log in to your Policy Account. As soon as you log in, click on the tab highlighting fund details, and enter your policy number.

  • What do you mean by policy assignment in Shriram Life Insurance?

    Policy assignment in Shriram Life Insurance is defined as the transfer of the life cover and benefits of a particular policy to some other person or an institution.


  • What are the different types of riders available with the Shriram Life Insurance Company?

    Shriram Life Insurance Company offers four different rider types – accidental benefit rider, extra insurance cover, family income benefit, and critical illness cover.

  • Can I add or delete either of the riders from my selected Shriram Life Insurance Plan?

    You can add a rider to your selected policy at the time of its purchase and delete it any time throughout the policy term.

  • What is Benefit Illustration in Shriram Life Insurance Policies?

    Benefit Illustration in Shriram Life Insurance Policy basically tells the policyholder about the nature of the policy and its benefits. It also informs the policyholder about the specific conditions under which the benefits would be paid.

  • Can I update my Aadhaar or PAN number in my purchased Shriram Life Insurance Plan?

    Yes, you can update both your AADHAR and PAN details either by visiting Shriram’s Branch Office or through their official web portal.

  • How can I initiate changes in the nominee section of my Shriram Life Insurance Plan?

    Changes to the nominee section can be made anytime throughout the policy term by submitting a nominee change request form plus an application letter for the same.

Premium Calculator

  • What is the age group to apply for Shriram Life Insurance Coverage and how is it useful in premium calculators?

    You can apply for the Shriram life insurance coverage at any time between the age group of 12 to 60 years. The age group varies in accordance with the type of insurance plans you select. By clicking the Shriram Premium Calculator, you may quantitate your exact premium amount and the policy term according to your age and expected maturity sum.

  • Where can I find the Shriram Life Insurance Company online premium calculator?

    You may find the online premium quote calculator under the Online Premium Quote Calculator section on the official website of Shriram Life Insurance Company.

  • Can I calculate my minimum life cover online using the Shriram Life Insurance Company premium calculator?

    Yes, you can calculate your Minimum Life Cover Online for Shriram Life Insurance, by visiting the Minimum Life Cover Calculator section. You need to enter your current age, your estimated retirement age, productive years, and annual living expense to get the details of your Minimum Life Cover.

  • Can I calculate human life value online using the Shriram Life Insurance Company premium calculator?

    Yes, you can calculate the Human Life Value online for yourself by visiting the Human Life Calculator section on the Shriram Life Insurance website. Before you begin with the process, you need to keep a few details handy with you – your current age, your estimated retirement age, productive years, and your annual income to calculate the Human Life Value for you.

  • What is the sum assured for the Shriram Life Family Protection Plan?

    The minimum sum assured for Shriram Life Family Protection Plan is 15,00,000. However, you can calculate the maximum sum assured according to your wallet by entering a few of your personal details under the Online Premium Calculator section.

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Claim Process at Shriram Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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