Published Oct 15, 2025 4 Min Read

Everything about Shriram Life Insurance Payment Support

Shriram Life Insurance Payment Support & Issues: Bajaj Finserv Complete Guide

Shriram Life Insurance is a trusted name when it comes to securing your financial future. Yet, payment-related concerns can arise, such as failed transactions, double deductions, or delays in refunds. These issues can be frustrating and, if unresolved, may lead to lapses in policy coverage.

Bajaj Finserv simplifies the process of addressing these concerns with its secure BBPS platform. The platform is designed to handle payment-related challenges with ease, offering a seamless interface and dedicated tools for troubleshooting. Whether you are dealing with a payment gateway error or need to track a refund status, Bajaj Finserv ensures that your concerns are resolved quickly and securely.

By choosing Bajaj Finserv, you gain access to:

  • A secure BBPS platform for all your insurance payment needs.
  • An intuitive interface that simplifies the process of raising and resolving payment issues.
  • Reliable customer support to guide you every step of the way.

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Double Deduction During Shriram Life Insurance Payment – How to Resolve

One of the most common concerns users face is a double deduction during premium payments or policy renewals. This occurs when the payment is debited twice from your account, leaving you worried about the additional charge.

Here is a step-by-step guide to resolving double deduction issues with Bajaj Finserv:

  1. Verify your bank account statement: Check your account statement or transaction history to confirm that the payment was deducted twice.
  2. Log in to the Bajaj Finserv portal: Use your registered mobile number and OTP to access your account.
  3. Navigate to the ‘Services’ tab: Click on the ‘Raise a Request’ option.
  4. Select the relevant issue: Choose “Payment Issue” and then “Double Deduction” from the dropdown menu.
  5. Submit supporting documents: Attach proof of payment, such as screenshots of your bank statement or the UTR (Unique Transaction Reference) number.
  6. Await updates: Bajaj Finserv will investigate your request and provide updates on the resolution timeline.

Taking swift action is crucial to prevent delays in policy renewals. For more details on payment reversal timelines, visit the Bajaj Finserv Fees and Charges page.

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Incorrect Shriram Life Insurance Account Details or Number Entry Issues

Another common issue is entering incorrect details, such as the wrong policy number or customer ID, during payment. This can lead to failed transactions or misallocated payments.

Here is how Bajaj Finserv helps you rectify such errors:

  1. Log in to your Bajaj Finserv account: Use OTP-based authentication to access your account securely.
  2. Check your transaction history: Navigate to the ‘Payments’ section to locate the transaction in question.
  3. Report the issue: Use the “Report Issue” tool to flag the error. Attach evidence, such as the payment receipt, to support your claim.
  4. Resolution timeline: Bajaj Finserv will review your request and notify you of the standard processing time for corrections.

With Bajaj Finserv’s secure platform, you can rest assured that your sensitive transactional data is protected at all times.

Conclusion

Payment-related issues with Shriram Life Insurance, such as failed transactions, double deductions, or incorrect account details, can be stressful. However, Bajaj Finserv offers a comprehensive solution through its secure BBPS platform. With a user-friendly interface, reliable customer support, and robust tools for resolving payment challenges, Bajaj Finserv ensures that you can manage your insurance payments with ease.

Take control of your Shriram Life Insurance payments today. Visit the Bajaj Finserv portal to resolve your payment issues and ensure uninterrupted policy coverage.

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Frequently Asked Questions

How long does it take for failed Shriram Life insurance payments to be refunded to my account?

Failed payment refunds typically take 5–7 business days to reflect in your account. However, in rare cases, this timeframe may be extended due to bank processing delays. If a refund is not received after this period, customers should contact Bajaj Finserv customer care for status updates.

Can I schedule automatic Shriram Life Insurance payments through Bajaj Finserv?

Yes, Bajaj Finserv allows customers to schedule automatic payments for Shriram Life Insurance premiums using their BBPS platform. Log in to your account, register your policy details, and opt for the “Auto-Payment” feature, which ensures you never miss a due date.

What payment methods are available for Shriram Life payments on Bajaj Finserv?

Bajaj Finserv supports a wide range of payment methods, including UPI, net banking, major credit/debit cards, wallets, and the Bajaj Finserv EMI Network Card.

What should I do if I enter an incorrect Shriram Life customer ID during payment?

If an incorrect customer ID is entered, log in to the Bajaj Finserv portal and navigate to the ‘Raise a Request’ tab under Payments. Provide details about the transaction, attach supporting documents like payment receipts, and request correction. Bajaj Finserv will guide you on the next steps for resolution.

What makes Bajaj Finserv more reliable than other payment platforms for Shriram Life payments?

Bajaj Finserv stands out for its secure BBPS platform, intuitive user interface, and 24/7 customer support. Additionally, its robust error-resolution mechanisms ensure that payment issues are resolved quickly without compromising on data security.

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Bajaj Finserv App for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.

  • Explore and apply for co-branded credit cards online.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements, and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Disclaimer

While care is taken to update the information, products, and services included in or available on our website and related platforms/websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/service document and applicable terms and conditions. In case any inconsistencies observed, please click on reach us.

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