Secure Your Family’s Future with
Flexible Term Life Cover
Protect what matters most with Shriram Life Flexi Shield Plan. Calculate your premium and get instant quotes for comprehensive term insurance.
Shriram Flexi Shield Term Insurance
Shriram Life Flexi Shield Plan is a non-linked, non-participating individual term insurance policy . It offers pure protection with multiple coverage options, built-in benefits, and flexible premium payment modes. This plan is designed to secure your family’s financial future with affordable premiums and customisable features.
What is Term Insurance?
Term insurance is a simple, pure protection plan that pays a lump sum or regular income to your nominee if you pass away during the policy term. It ensures your loved ones can meet their financial goals and maintain their lifestyle, even in your absence.
Why Choose Shriram Life Flexi Shield Plan
Shriram Life Flexi Shield Plan is a term plan from Shriram Life, offering a wide range of benefits, as listed below:
- Multiple plan options: Level, Increasing, Decreasing, Life Stage, and Smart Shield.
- Inbuilt terminal illness and accidental death benefits.
- Flexible payouts: lump sum, monthly income, or both.
- Special incentives for women and auto-debit payments.
- Wide entry age (18–65 years) and maturity up to 85 years.
- Easy online purchase and seamless claim process.
Features of Shriram Life Flexi Shield Plan
Choose from Level, Increasing, Decreasing, Life Stage, or Smart Shield options to match your financial goals.
Opt for a lump sum, monthly income, or a combination payout for your nominee.
Some of the key benefits of Shriram Life Flexi Shield Term Insurance include terminal illness (50% of sum assured on diagnosis), accidental death, and instant claim payouts after 3 years.
Women policy holders enjoy a 3-year age rate-down for premium calculation.
Premiums are eligible for Section 80C deductions; claim proceeds under Section 10(10D).
Riders Available
Shriram Flexi Shield Term Insurance provides you with riders, which can be availed additionally, to enhance the benefits provided under your existing cover. The following optional riders can be:
Get an additional lump sum if the insured suffers accidental death or total and permanent disability, providing extra financial support for your family.
This rider ensures a regular monthly income for your family in case of your unfortunate demise or total and permanent disability.
The Shriram Critical Illness Plus Rider enables you to receive a lump sum payout on diagnosis of any covered major critical illness, helping you manage medical expenses and recovery.
Women’s Benefit
Specially designed for women, this term insurance rider from Shriram offers a lump sum benefit on diagnosis of specified female-specific critical illnesses and maternity complications.
Steps to Apply
- Step 01Use the online calculator to estimate your premium.
- Step 02Fill in your details and select the desired plan option.
- Step 03Upload required documents for verification.
- Step 04Make a secure online payment.
- Step 05Receive instant policy confirmation and digital documentation.
Beneficiary Support & Claims Services
- Step 01Claim Reporting
Claims can be reported via the Shriram Finance online portal, customer care, or the nearest branch.
- Step 02Required documents
Claim form, policy document, death certificate, nominee’s ID proof.
- Step 03Claim Processing
Claims are reviewed with document and medical verification (if required).
- Step 04Average processing time
7–10 working days.
- Step 05Claim Settlement
Approved claims are credited directly to the nominee’s bank account via NEFT or cheque. No follow-up is required unless additional documents are needed.
- Step 06Nominee Assistance
Dedicated claim support is available via phone, email, and in-branch guidance.
- Step 07Online Claim Process
Log in to the claims portal, upload documents, and track claim status in real time.
Who is eligible?
| Criteria | Details |
|---|---|
| Entry Age | 18–65 years |
| Maximum Maturity | Up to 85 years |
| Policy Term | 1–67 years |
| Premium Payment | Annual, semi-annual, quarterly, monthly |
Shriram Life Flexi Shield Plan Coverages
What is Covered?
- Death benefit (lump sum, monthly, or both)
- Terminal illness benefit (50% of sum assured on diagnosis)
- Accidental death benefit (inbuilt for Smart Shield)
- Staggered death benefit (optional)
- Smart exit (refund of premiums after 20/25 years for eligible options)
What is Not Covered
- Suicide within 12 months (80% of premiums or surrender value, whichever is higher)
- Death due to policy exclusions (as per terms)
Right Duration for Your Plan
Choose a policy term that matches your age and financial responsibilities. Young professionals may opt for longer terms, while those nearing retirement can select shorter durations. Use our decision tool to find the ideal term life cover for your stage of life.
Move the slider below to select your age and see the recommended policy term for maximum protection.
Adjust the slider to see how your age influences the suggested term. Choose a policy duration that matches your family's financial needs and future goals.
- Choose Your Age
65
- Choose Your Age
60
- Choose Your Age
55
- Choose Your Age
50
- Choose Your Age
45
- Choose Your Age
40
- Choose Your Age
35
- Choose Your Age
30
- Choose Your Age
25
- Choose Your Age
20
- Choose Your Age
18
A 20-year policy term helps cover remaining financial responsibilities comfortably.
Download Documents
FAQs
How can I purchase Shriram Life Flexi Shield policy online?
Use our website’s calculator, fill in your details, upload documents, and pay online for instant policy issuance.
What is the process after payment is done?
You’ll receive a confirmation email and e-policy. Our team may contact you for any additional documents or medical checks.
Does Shriram Life Flexi Shield plan have waiver of premium?
Yes, the Waiver of Premium Rider is available as an add-on for enhanced protection.
Does Shriram Life Flexi Shield plan provide tax benefits?
Premiums paid are eligible for tax deductions under Section 80C, and claim proceeds are tax-free under Section 10(10D), subject to prevailing laws.
Can I buy this plan under the Married Women's Property (MWP) Act?
Yes, you can opt for MWP Act coverage to secure the policy benefits exclusively for your wife and children.
Is death due to suicide included in Shriram Life Flexi Shield plan?
Death due to suicide within 12 months is excluded; after that, standard policy terms apply.
At what age can I start Shriram Life Flexi Shield plan?
The minimum entry age is 18 years, and the maximum is 65 years.
How much premium do I have to pay for Shriram Life Flexi Shield plan
Premium depends on age, sum assured, policy term, and chosen riders. Use our calculator for a personalised quote.
How much money will my family receive in case of death due to an accident?
The nominee receives the sum assured plus any applicable accidental death benefit if the rider is chosen.
How much Critical Illness Benefit can I choose?
Critical Illness Benefit amount depends on the rider sum assured selected at purchase.
When do I receive Critical Illness pay-out?
On diagnosis of a covered critical illness, the benefit is paid as a lump sum.
Does my Life Cover or Premium change after I receive the critical illness benefit?
After a critical illness claims, the life cover and premium may reduce as per rider terms. Refer to policy documents for details.
What are the protection benefits available in Shriram Life Flexi Shield plan?
The plan offers death benefit, terminal illness cover, accidental death benefit, and optional riders for enhanced protection.
Disclaimer
Standard IRDAI and regulatory disclaimers apply.
