Shriram Life Insurance has launched Shriram Life Flexi Shield, a non-linked, non-participating term insurance plan designed to provide protection that adapts to every life stage. Built around the concept of “Your Term. On Your Terms.”, Flexi Shield gives policyholders the freedom to personalise their protection.

Key features of the plan include:

• 50% payout on terminal illness with premium waiver – Upon acceptance of a valid Terminal Illness claim, 50% of the Sum Assured is paid as a lump sum, and all future premiums, including rider premiums, are waived until maturity.
• Premium Holiday for up to 12 months – Policyholders can pause premium payments during periods of financial stress while maintaining full coverage.
• Lower premiums and tailored protection for women – The plan offers lower premiums and flexible coverage options to support women in managing evolving life responsibilities.
•  Flexible coverage with instant support – Customers can choose any plan variant and adjust their Sum Assured as needed and may receive a quick claim support payout of up to ₹2 lakh within one working day for eligible claims, subject to submission of required documents and verification.

Plan Variants

• Shield – Pure Term Option
• Life Stage Shield – Dynamic coverage aligned with evolving life responsibilities
• Smart Shield – Life and Accidental Death Rebalancing Option

Shriram Life Flexi Shield provides coverage for up to 100 years and allows policyholders to align their protection with long-term financial planning. It is ideal for retirement planning, children’s education, family protection, or creating a long-term financial safety net.

Consider a 30-year-old policyholder planning their long-term financial future. To protect loved ones from financial hardship, they choose the Shield variant with a Sum Assured of ₹40 lakhs over a 30-year term. In the event of an untimely passing, the nominees receive the full ₹40 lakhs, ensuring financial stability. If diagnosed with a terminal illness during the term, 50% of the Sum Assured is paid immediately, providing crucial financial support during a challenging period.

“With Shriram Life Flexi Shield, we are redefining term insurance to be more adaptive and empowering for our customers. The plan’s flexibility, coupled with unique benefits like Premium Holiday and early terminal illness payout, ensures that protection keeps pace with life’s changing needs,” said Casparus J.H. Kromhout, MD and CEO, Shriram Life Insurance.

Key Highlights

50% Terminal Illness Payout with Premium Waiver

On diagnosis and acceptance of a valid Terminal Illness (TI) claim, 50% of the Sum Assured is paid immediately. All future premiums, including rider premiums (if any), are waived until the end of the policy term.

Premium Holiday

Policyholders can pause premium payments for up to 12 months during financial stress, while maintaining full coverage throughout the deferment period.

Flexible Coverage Options

  Choose from the below plan variants:

• Shield – Pure Term Option

• Life Stage Shield – Dynamic coverage aligned with evolving life responsibilities

• Smart Shield – Life & Accidental Death Rebalancing Option

Lower Premiums and Women-Friendly Design

Offers lower premiums for women, supporting financial security for women managing family, career, and personal goals.

Adjustable sum assured and instant payout

Policyholders can increase or decrease the sum assured as per evolving needs. Instant claim payout of up to ₹2 lakh within one working day ensures timely financial support.

Special Exit Benefit**

Life assured will have an option to exit the policy and receive Special Exit Benefit, equal to the total premiums paid under the Policy

This press release contains features as per approved product terms and conditions. All benefits are subject to policy provisions. Terms and conditions apply. Product available on all Shriram Life channels, including the website and customer care.

This option can be exercised in any policy year after the 25th year but not during the last 5 policy years. The life assured must be 60 years or older at the time of exercising this option.