Shriram life Insurance

Your partner for prosperity

HISTORY
 Shriram Life Insurance Company, also known as (SLIC) was founded in the year 2005 and
commenced operations in the year 2006. SLIC is well known for their efficient use of capital and low
operational costs.

 Shriram Life Insurance Company is a joint venture between Shriram Group founded in 1974,
headquartered in Chennai and Sanlam, a leading financial services group based in Cape Town, South
Africa. Together, Sanlam and Shriram group aims to provide the best life insurance products to cater
different segments of Indian market.

 In 2016, Shriram Life Insurance Company received the Bizz Americas 2016 Awards. The company’s
objective aims in ‘reaching out to the common man with products and services that would be helpful
to him/her as they set out on the path to prosperity.’
Highlights of Shriram Life Insurance
 Shriram Life has 3800 branches with 77,000 employees.

 Shriram Life clocked Rs.2019 crore gross premium in 2020-2021.

 The company has a network of 609 offices and 75,000 agents across India.

 Shriram has an outstanding Underwriting Record and has awarded as ‘Underwriting Initiative of the

Year.’

 Shriram Life Insurance generates more than 40% business through providing insurance to rural area and

weaker segment individuals - ‘AAM AADMI’ of India.

 The Founder of Shriram Group, Mr R Thyagarajan, has been awarded with Padma Bhushan award.

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 Benefits of Shriram Life Insurance
 Financial Protection: Plans which provide financial protection to your family.

 Flexibility: Flexible premium and payout options.

 Online plans: Specifically designed online plans that costs lower

 Variety: Offers a variety of online as well as offline plans

 Customer Service: Offers good, hassle-free pre-sales and post-sales services.

 Tax benefits: Save tax on all premiums and payouts under the section 80C and 10(10D) of Income
Tax Act, 1961.
 Documentation needed to apply for a
Shriram Life Insurance Policy
The most common type of documentation comprises of the following, the information on the same is
available on the official website of SLIC shriramlife.com/download-forms.

Proposal Form: The form which is to be filled in by the insured in written or electronic or any other
format as approved by the authority, for furnishing all material information as required by the insurer
in respect of a risk, in order to enable the insurer to take informed decision in the context of
underwriting the risk, and in the event of acceptance of the risk, to determine the rates, advantages,
terms and conditions of the cover to be granted.

Know Your Customer (KYC): Identity, address, income and age proof.
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 Competitors of SLIC
 Bajaj Allianz Life Insurance Company Limited

 Birla Sun Life Insurance Co. Ltd

 HDFC Standard Life Insurance Co. Ltd

 ICICI Prudential Life Insurance Co. Ltd

 Life Insurance Corporation of India

 Kotak Mahindra Old Mutual Life Insurance Limited

 SBI Life Insurance Co. Ltd

 Reliance Life Insurance Company Limited.

 Sahara India Life Insurance Co, Ltd.

 Research Methodology
Research methodology help us to know the research methods along the logic behind the methods we
use in the context of our research study and explain why we are using a particular method or technique.

The present study needs to chalk out the investment perception and customer behaviour regarding
products of Shriram Life Insurance Company.

Type of research- Descriptive research

Data source- Primary data
Data collection tools- questionnaire
Sampling universe- Uttar Pradesh
Sample size- 70
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 Data analysis
Data collection

The data was collected through a structured questionnaire. 70 questionnaires distributed among
people in Uttar Pradesh and received back 55 questionnaires which were properly filled. 55
questionnaires are fairly attempted with 78% response.
 AGE GROUP FREQUENCY Demographic
18- 30 43 Characteristics
31-40 5 • AGE
41-50 4

Above 50 3

This indicates the age group of respondents to the study survey.

This shows that the 18 to 30 age group comprises the highest
percentage of the respondent of the study.
 GENDER GROUP FREQUENCY
• GENDER
MALE 35

FEMALE 20

This indicates the gender of respondents to the study

survey. This shows that the male candidate comprises the
highest percentage of the respondent of the study.

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 OCCUPATION FREQUENCY
• OCCUPATION
PRIVATE JOB 35

GOVERNMENT 5

ENTREPRENEUR 3

STUDENT 12

This indicates the occupation of respondents to the study

survey. This shows that students and private job
respondents comprises the highest percentage of the
respondent of the study.

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Thank
You
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