Shriram Life vs Hdfc Pension Plans Life Insurance 2026 | PolicyX
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Overview

Shriram Life Insurance: Overview

Shriram Life Insurance commenced operations in 2006. Synonymous with its efficient use of capital and low operational costs, SLIC has remained true to the Group's philosophy of financial inclusion. A joint venture 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 company is among the largest financial services conglomerates, managing assets worth Rs 2.08 lakh crore (As of December 2023).

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

  • Financial Stability
  • Accumulation of assets
  • Structured Investing
  • Retirement planning
COMPANY DETAILS ✎ Edit

Shriram Life

 ✎ Edit

Hdfc Pension Plans
Rating
Number of life insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

₹ 38 crores

Annual Premiums Collected (2024-25)

₹ Rs 1 lakh to No limit
Payout Options

Payout Options

Lump sum, regular frequencies or a combination of both

Payout Options

-
Claim ratio

Payout Options

98.31%%

Payout Options

Minimum Age- 30 year%
Solvency Ratio

Solvency Ratio

2.62

Solvency Ratio

85 years
Pan India Presence

Pan India Presence

537

Pan India Presence

Annual, half-yearly,
Riders Available

Riders Available

Critical Illness Plus Rider, Accident Benefit Rider, Family Income Benefit Rider, Shriram Extra Insurance Cover Rider, Premium Waiver Riders, Term Conversion Rider, Long-Term Care Rider

Riders Available

10 to 30 years
Policy Term

Policy Term

6 to 57 years

Policy Term

10 to 40 years
Inception year

Inception year

-

Inception year

-
Complaint ratio per ₹1 crore of premium collected

Complaint ratio per ₹1 crore of premium collected

-

Complaint ratio per ₹1 crore of premium collected

-
Average claim settlement time

Average claim settlement time

-

Average claim settlement time

-
IRDAI registration number

IRDAI registration number

-

IRDAI registration number

-
Awards and recognitions

Awards and recognitions

-

Awards and recognitions

-

Riders

Riders Available with Shriram Life Insurance Plans

Name of the Rider Benefits
Shriram Life Critical Illness Plus Rider This rider provides coverage against 24 critical illnesses mentioned in the policy brochure.
Shriram Long-Term Care Rider This rider provides some part of the policy’s death benefit each month to use for long-term expenses.
Shriram Accident Benefit Rider Offers benefits in case of the policyholder's death due to an accident.
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Expert Reviewed

Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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