Punjab National Bank Fixed Deposit Plan
Shriram Lifehas a strong focus to fulfil the insurance requirements of the lower segment of the society and to benefit them. The company is formed between the Shriram Group who has its headquarters in Chennai and Sanlam headquartered in Cape Town, South Africa. Shriram and Sanlam have a stake holding of 74% and of 26% respectively and the company was founded in 2005 while its operations started from 2006. The company made a record of registering a profit in the first 3 years of its operation intself. The products designed and offered by the company are of high quality at affordable rates to meet the pocket and the requirement of the common man.
Applying for a Traditional / Investment Plan from the company:
The company offers specific plans which are available online only. The customer only needs to log into the companys website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued
Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.
Applying For Traditional Insurance through PolicyBazaar
On the PolicyBazaar homepage, click on Traditional Insurance under the Personal tab.
Click New Quotes to compare and choose from top insurance providers.
Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
Fill in your name, email address, city, country code, and mobile number. Click Continue.
You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.
This will take you to the insurers website. Fill in the necessary details to buy the plan.
Can I use an endowment plan as a security to avail a loan?
Yes, you can use your endowment plan to get a loan. Endowment plans are usually long term, high value plans. As a result, you get loans easily.
What are the best available endowment plans in India?
Since endowment plans are pretty popular in India, most of the leading insurance companies have endowment plans. The endowment plans from LIC, AEGON Religare, HDFC Life and Birla Sun Life Insurance are among the best.
Who needs which Endowment Plan?
Endowment insurance is the most common type of insurance where you invest in an insurance fund and receive the sum assured at the end of the policy period. If you die within the tenure of the policy, your nominee receives the death benefit. This makes an endowment plan a very good insurance tool with many people opting for it. There are however different kinds of endowment plans and you need to know which plan would work best for you. Read on to know more.
Shriram Life Traditional Plans- FAQ
1. How to pay a premium? What are the modes of payment available?
Shriram Life Insurance Company offers 6 modes of premium payment namely:
Cash payment at the branch
Payment at the Axis Bank
Pay Via Mobile
For the online payment mode, the policyholder can pay via;
2. How can I check policy status for Shriram Life traditional plans?
To check policy status you can log into the e-portal with your valid credentials.
3. What is the policy renewal process for Shriram Life traditional plans?
The Shriram Life Insurance company provides facility to renew the policy online.
Step 1: Sign into the e-Portal with policy details
Step 2: Select payment option (Bank, Debit/credit Card) to pay
Step 3: Save/print e-receipt
You can renew your policy via Mobile, please visit e-portal
4. What is the companys process to settle claim for Shriram Life traditional plans?
For the claim, the nominee must submit the valid documents along with the claims form at the nearest branch. Upon successful validation of documents the claim is fully settlled within a few days.
5. What is the policy cancellation process for Shriram Life traditional plans?
Walk into the nearest branch of the Shriram Life insurance company with the policy documents. Surrender them and within a couple of days the refund will be directly credited into your bank.
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