Shriram Life Launches Term Plan with Maturity Benefits

• Shriram Secure Plus offers Insurance cover at affordable premium during the term of the policy and return of premiums at maturity.

• On survival of the life assured up to the end of the policy term, maturity sum assured which is equal to “total premiums paid”, excluding underwriting extra premium and loadings for modal premiums if any, will be payable.

• Tax Benefit is applicable as per Tax Laws, and rebates on Higher Sum Assured is available.

Shriram Life, known for its initiatives towards financial inclusion which are in line with Shriram Group philosophy, launched Shriram Life Secure Plus, a non linked non participating term plan with return of premiums at maturity. It is aimed at providing life insurance cover at lower premiums. It is suitable for customers looking for life cover at reasonable premium and also, return of premium on maturity in the event of survival of policyholder till maturity.

Commenting on the launch, Mr. Manoj Jain, CEO and Whole Time Director, Shriram Life said, “Shriram Life Secure Plus is an enhanced product to bring to our customers new & improved options like greater Sum assured at affordable premium rates and higher surrender values. This will empower AAM AADMI with life insurance covers which is easy on pocket. “Last fiscal, more than 50% of sale for the company, was recorded from rural and semi-urban area through retail. The addition of Shriram Secure Plus to the product portfolio shall facilitate Shriram Life to grow by 20-25% this fiscal, he said.

At Shriram Life, we understand AAM AADMI’s foremost responsibility is towards financial security of his family. Thus, addition of Shriram Secure Plus plan to our product portfolio is another initiative taken to strive to provide our customers with well-designed solutions tailored to individual needs.

Shriram Life Secure Plus pays a lump sum payment in case of unfortunate demise of the life assured, which shall help the affected family to reduce their debts and ensure their financial security. Else, the premiums paid towards this policy will be returned on maturity to the policy holder.

In addition to commemorate our 10th year of operations, as a goodwill gesture, Shriram Life has awarded an additional Onetime bonus of Rs. 10 per thousand sum assured for all the participating products.

Earlier this year, Shriram Life won the prestigious MMA award for Management Excellence in Services Sector. Shriram Life also bagged Indian Insurance Award for Best Insurance Company for Non-Urban Coverage - Life Insurance. These awards are a testimony to Shriram Life’s quality and commitment towards customer centricity and professional excellence.

About Shriram Life Insurance

Shriram Life Insurance Co. Ltd. (SLIC) commenced its operations in 2006, and the Company has already insured more than 1 Crore lives. The cumulative new business premium crossed INR 3600 Crores. We have been able to achieve these landmarks at modest operating expenses & and in the process, as we are one of the few profit making private life insurance companies. In fact, Shriram Life Insurance is the only private life insurer to have made profits in the very first year of operations and also in the eight out of nine years of operations. Shriram Life Insurance offers a bouquet of products in both the individual and group lines which include Traditional Plans, ULIPs, Single and Regular Premium Products, Group Term Plan, Group Gratuity, EDLI and Micro Insurance plans. Shriram’s forte has been lending / supporting to SME segment and has played a catalytic role in the overall development of society. SLIC hopes to take this forward through group plans aimed at SME segment.