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Shriram Life vs Hdfc Life

Shriram Life

Shriram Life Insurance commenced operations in 2006. A joint venture between Sanlam and Shriram Group, SLIC& 039;s aim is to offer life insurance plans and solutions that cater to a wider demographic.

Hdfc Life

HDFC Life is a joint venture between HDFC Ltd., India& 039;s leading housing finance institution, and Aberdeen PLC. It is present in around 980+ towns and cities in India.

COMPANY DETAILS

Shriram Life

Hdfc Life

Rating	Rating 4.6	Rating 4.6
Number of life insurance plans and add-ons	No. of Plans -	No. of Plans -
Annual Premiums Collected (2023-24)	Annual Premiums Collected (2023-24) 349.60 Crores.	Annual Premiums Collected (2023-24) 962.83 Cr.
Payout Options	Payout Options Lump sum, regular frequencies or a combination of both	Payout Options Lump sum, fixed payouts, or a combination of both
Claim ratio	Claim ratio 82.39%	Claim ratio 99.3%
Solvency Ratio	Solvency Ratio 2.2	Solvency Ratio 2
Branches	Branches 400+	Branches 372 branches
Riders Available	Riders Available Long-Term Care Rider, Term Conversion Rider, Premium Waiver Rider, Accident Benefit Rider, Critical Illness Plus Rider	Riders Available Income Benefit on Accidental Disability Rider, Critical Illness Plus Rider, Protect Plus Rider, Health Plus Rider
Policy Term	Policy Term 10 to 25 years	Policy Term 10 to 40 years

Know More About Companies

Overview

Shri Ram Life Insurance: Overview

Shriram Life Insurance commenced operations in 2006. Synonymous with its efficient use of capital and low operational costs, SLIC has been true to the Group's philosophy of financial inclusion. A JV between Sanlam and Shriram Group, SLIC aims to offer life insurance plans and solutions that cater to a wider demographic. Shriram Life Insurance Company has a strong network of 4050 branches across India. Shriram Life Insurance Company offers a diverse basket of financial products and solutions targeted mainly at the underbanked and unbanked segments of India’s population. The insurers are among the largest financial services conglomerates managing assets worth Rs 2.08 lakh crore (As of December 2023).

Shri Ram Life Insurance ensures to look after your insurance needs by offering:

Financial Stability
Accumulation of assets
Structured Investing

Retirement planning

Riders

Riders You Can Avail With HDFC Life Insurance Plans

Name of the Rider	Benefits
HDFC Life Income Benefit on Accidental Disability Rider	Offers additional income benefits in case of the policyholder’s demise due to an accident.
HDFC Life Critical Illness Plus Rider	A lump sum amount is offered in case the policyholder is diagnosed with any of the 19 critical illnesses.
HDFC Life Protect Plus Rider	Additional benefits are offered in case the policyholder is diagnosed with any of 19 critical illnesses or disability due to the accident.
HDFC Life Health Plus Rider	A lump sum amount is offered in case the policyholder is diagnosed with any of 60 critical illnesses.

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