Shriram Group Term Life Insurance in lieu of EDLI(Discontinued / Withdrawn Plan)

What is Shriram Group Term Life Insurance in lieu of EDLI?

Shriram Group Term Life Insurance (UIN 128N040V01)is a better alternative to provide more life insurance benefit to all employees irrespective of their PF balances, salary level and service. In particular, premiums may be lower than the contributions made by the employer towards EDLI when the employee's salary is high and the group is young. A single Master Policy Issued to the employer provides Life Insurance Benefit for all employees.
The plan offers a uniform amount of coverage that can be chosen by the employer starting at a minimum level of Rs.1,32,000. The employer can also offer differential benefits. The basic Life cover can also be enhanced by adding Accident Benefit Rider.

Who should buy this plan?

Shriram Group Term Life Insurance in lieu of EDLI is an affordable, easy-to-obtain financial security net for you and your loved ones. It pays a lump sum payment in case of unfortunate death helping your family to reduce their debts.

Plan Key Features:

  • Insurance coverage under EDLI from EPFO is linked to an employee's Average Provident Fund balance & total service prior to death.
  • Maximum insurance benefit is capped at Rs.1,30,000 only.
  • Employer has to contribute @ 0.51% of the salary towards EDLI coverage.

We Call You Back

Submit the Enquiry Form or call us on our Toll Free:

CALL US :1800-3000-6116

Criteria Eligibility
Minimum age at entry 14 years age last birthday
Maximum age at entry 75 years age Last Birthday
Cover ceasing Age 76 years age Last Birthday
Minimum Sum Assured Rs.1,32,000/-
Maximum Sum Assured Rs.5,00,000/-
Term One Year(Renewable annually)
Nature of Scheme Statutory
Minimum Group Size 20 Members

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Now, Pay your Policy Premium Online through Credit / Debit Card or Netbanking.

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