Shriram Life Insurance launches ‘Money Back Term Plan’

Private insurer Shriram Life Insurance Company recently launched a new ‘Money Back Term Plan’, a ‘non-linked, non-participating’ assurance life cover.

“The minimum annualised premium is kept as low as Rs 3,000 in line with our philosophy of bringing financial products within the means of the customers,” Shriram Life CEO Manoj Jain said in a release.

The New Money Back Term plan offers to pay a lump sum payment in case of death of the life assured during the policy term while on survival, all basic premiums paid during the policy term would be returned.