Shriram Life Insurance 2025 Comprehensive Buyer’s Guide
October 19, 2025
Introduction
Locating an affordable life insurance provider is one of the most essential decisions for protecting the financial future of your family. In India’s private life insurer market, Shriram Life Insurance stands out with affordable solutions and customer-centric care that are inclusive and accessible across rural India.
Through financial inclusion efforts and deep rural reach initiatives, this insurer focuses on making life insurance available to every household in India.
This content aims to help both users and search engines better comprehend this insurer’s offerings.
About Shriram Life Insurance Company Limited
Shriram Life Insurance Company Limited was formed as a joint venture by the Shriram Group (India) and Sanlam Group (South Africa) in 2005 to offer protection and financial security to every household, particularly in semi-urban and rural regions of India.
Its primary aim is providing these benefits.
| Parameter | Details |
|---|---|
| Established | 2005 |
| Headquarters | Hyderabad, Telangana |
| Parent Groups | Shriram Group (India) & Sanlam Group (South Africa) |
| Claim Settlement Ratio (FY 2022-23) | 98.09% |
| Solvency Ratio | Above IRDAI requirement |
| Branch Network | 400+ branches across India |
| Official Website | shriramlife.com |
Shriram Life stands out as an accessible and affordable insurance provider, serving low and middle-income groups by offering affordable protection and long-term investment opportunities.
Why Select Shriram Life Insurance?
Shriram Life Insurance stands out with an inclusive business model that prioritizes affordability and protection over market-linked products.
Key Reasons to Opt for Shriram Life Insurance
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Strong Claim Record: With an overall claim settlement ratio exceeding 98%, policyholders can enjoy peace of mind.
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Affordable Premiums: Created for all income groups, particularly middle and lower-income segments.
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Wide Reach: Presence in urban and rural India ensures easy access to services.
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Partnership with Sanlam: Provides global expertise in insurance and risk management.
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Tax Benefits: Eligible under Section 80C and Section 10(10D) of the Income Tax Act.
Shriram Life Insurance Plans Come in Many Different Varieties
Shriram Life Insurance provides a range of plans designed to fit different life stages and financial needs.
| Plan Type | Description & Target Audience |
|---|---|
| Protection Plans (Term Plans) | Affordable life policies offering pure life cover at low cost for young earners looking to secure their families’ future. Ideal for protecting families in case of tragedy. |
| Individual Savings Plans | Provide life cover with savings and guaranteed maturity benefits – perfect for individuals seeking multiple advantages. |
| Unit Linked Insurance Plans (ULIPs) | Combine investment growth potential with life protection – ideal for risk-tolerant investors. |
| Retirement Plans | Build a pension corpus for post-retirement life. Ideal for individuals planning long-term income. |
| Child Plans | Ensure your children’s education and financial goals even in your absence – ideal for parents of growing children. |
Top Shriram Life Insurance Plans (2025)
| Plan Name | Plan Type | Key Features | Age Range (Min–Max) |
|---|---|---|---|
| Shriram Life Smart Protection Plan | Term Plan | Low-cost life cover with rider options | 18–75 years |
| Shriram Life Wealth Plus Plan | ULIP | Market-linked growth with flexible premium payments | 7–65 years |
| Shriram Life New Shri Vidya Plan | Child Plan | Secures child’s education and builds future corpus | 18–70 years |
| Assured Income Plan / Guaranteed Income Savings Plan | Savings Plan | Guaranteed annual income + life cover | 3–60 years |
| Shriram Life Pension Plus Plan | Retirement Plan | Provides regular income during retirement | 30–75 years |
Each plan offers optional riders such as accidental death, critical illness, and disability coverage to strengthen overall protection.
Main Benefits of Shriram Life Insurance
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Affordable Premiums: Tailored to suit every budget with flexible payment options (monthly, quarterly, or annually).
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High Coverage: Provides substantial life coverage at competitive rates.
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Guaranteed Returns: Endowment and savings plans offer guaranteed maturity benefits.
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Digital Access: Enables online premium payment, policy renewal, and tracking.
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Customer-Centric Claim Process: Fast and straightforward claim settlement procedure.
Claim Settlement Process
Shriram Life Insurance utilizes a four-step claim process designed to ensure transparency and efficiency.
| Step | Description | Time Frame |
|---|---|---|
| 1. Initiate an Incident | Inform the company within 24 hours of an incident. | Within 24 hours |
| 2. Document Submission | Submit necessary claim forms, ID proof, and policy documents. | Within 7 working days |
| 3. Claim Verification | Company verifies submitted documents and claim details. | 5–10 working days |
| 4. Claim Settlement | Approved claim amount transferred directly to nominee’s bank account. | Within 30 days (IRDAI norms) |
Customer Care Support:
📞 1800 103 6116
📧 afe61@d*5.com
Tax Benefits with Shriram Life Insurance
Shriram Life Insurance policies provide tax advantages under Indian tax regulations.
| Section | Benefit |
|---|---|
| Section 80C | Premiums eligible for deductions up to ₹1.5 lakh annually. |
| Section 10(10D) | Maturity proceeds and death benefits are tax-free under certain conditions. |
| Section 80CCC | Additional benefits for pension plan contributions. |
Tip: Always consult a tax advisor to maximize benefits according to current Income Tax regulations.
How to Purchase Shriram Life Insurance Cover
Step 1: Visit the Official Website
Go to 👉 https://shriramlife.com
Step 2: Select a Plan
Choose based on your financial goals — protection, savings, or investment.
Step 3: Access a Quote
Enter basic details such as age, income, and coverage needs to generate an instant quote.
Step 4: Submit Documents
Upload ID proof, address proof, and income documents.
Step 5: Make Secure Payment
Pay online securely through net banking, credit/debit cards, or UPI.
Step 6: Receive Your Policy
Download your policy instantly via email or online account access.
You can also visit any of 400+ Shriram Life branches across India for in-person support.
Advantages Over Competitors
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High levels of reliability and trustworthiness
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Affordable and accessible to all income groups
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Simple product structure with clear terms
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Excellent after-sales support and digital renewal options
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Global expertise through partnership with Sanlam Group
Conclusion
Shriram Life Insurance has quickly established itself as one of India’s premier insurers by prioritizing affordability, transparency, and inclusivity.
Whether for family protection, guaranteed returns, or retirement planning, Shriram offers customer-friendly plans backed by a high claim settlement ratio and strong financial foundation.
With trusted customer care and simple policies, Shriram Life Insurance is an ideal choice for policyholders in 2025 and beyond.
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