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Insurance Company
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Aviva Life Insurance Company Ltd
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Plan Name
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Aviva SaveGuard
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Plan Nature
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ULIP
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Plan Category
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Protection Plan
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UIN No.
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122L028V02
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About Plan
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SaveGuardT is a simplified, Unit Linked endowment plan. It is specially designed to help you save for important milestones like your child's education and marriage, building a house or even creating a retirement fund. It also provides financial protection for your dependants in the unfortunate event of your death. SaveGuard offers an investment opportunity as well as life insurance without requiring you to undergo any medical examinations.
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Minimum Entry Age
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0
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Maximum Entry Age
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50 Years
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Minimum Policy Term
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10 Years
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Maximum Policy Term
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30 years
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Minimum Maturity Age
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18 Years
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Maximum Maturity Age
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70
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Minimum Premium
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RS 12000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On maturity, you can either take out the fund value in respect of regular premiums plus top-up premiums, if any and terminate the policy OR opt for a settlement option wherein all or part of maturity proceeds would be paid out to you as structured payouts in accordance with the settlement option then offered by the Company.
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Death Benefits
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In the unfortunate event of the life insureds' death the following payments would be made: In case the risk cover has not commenced, the value of units pertaining to regular premiums plus regular premium paid in the first year will be paid. In case death occurs in the first policy year, 50% of the Sum Assured will be paid as death benefit if risk cover has commenced. In all other cases, the higher of the Sum Assured or the value of units pertaining to regular premiums shall be payable. The value of units pertaining to the top-up premiums, if any, would also be payable.
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Switch Benefit
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You can switch your accumulated funds from one investment fund to another (either partly or fully). In case of a part switch, the minimum amount switched should be Rs. 5,000 and the fund value in the fund after the switch should be Rs. 5,000. However, if policyholder wishes to switch 100% of the fund to another fund, this condition will not apply. The first 4 switches in a policy year are free of charge.
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Additional Benefits
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Loyalty Additions During the policy termLoyalty Additions will be provided as an addition to the units pertaining to regular premiums at the end of each 5th policy year starting from the tenth policy year if all due premiums have been paid. The loyalty additions will be a percentage of the first year regular premium as given in the table below: Loyalty Additions If annual Regular Premium is If annual Regular Premium is less than or equal to Rs.20,000 greater than or equal to Rs.20,000 20% 25%
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Partial Withdrawal Benefit
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You have the flexibility of making partial withdrawals after the first 5 policy years from the regular premium unit account. Any partial withdrawal will first be made from the top-up premium account (if any and if eligible for withdrawal) followed by the regular premium account, if required. If the policy holder is less than 58 years of age then the total amount of partial withdrawals made from the regular premium account cannot exceed 25% of the value of units pertaining to regular premiums as at the start of the policy year in which the partial withdrawal is being made. If the policyholder is of 58 years of age or more then this restriction does not apply. 1) Partial withdrawals from top-up premium account can be made after 3 years from the allocation date of that top-up premium 2) Partial withdrawals from units pertaining to regular premiums can be made after the policy anniversary on which the life insured attains 18 years of age.3) Only 4 partial withdrawals are allowed in a policy year. 4) The minimum partial withdrawal is Rs. 5,000
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Surrender Benefit
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The Surrender Value shall be payable only after completion of first three policy years provided at least the first year's premium has been paid. The surrender value is equal to the higher of (10% of the first year regular premium or value of units pertaining to regular premium) plus the value of units pertaining to top-up premiums, if any.
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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You have the option to change the allocation proportion of your future premiums to different funds at anytime, up to 2 times in a policy year. The minimum allocation in each selected fund must be 10%.
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SaveGuard is a simplified, unit-linked endowment plan. It is specially designed to help you save for important milestones like your childÆs education and marriage, building a house or even creating a retirement fund. It also provides financial protection for your dependants in the unfortunate event of your demise. SaveGuard offers life an investment opportunity as well as insurance without requiring you to undergo any medical examinations.
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Balanced Fund (Before 30-June-2006)
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Balanced Fund (Post 31-July-2006)
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Balanced Fund II (Post 31-Dec-2009)
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Bond Fund II (Post 31-Dec-2009)
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Enhancer Fund (Post 31-July-2006)
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Enhancer Fund II (Post 31-Dec-2009)
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Growth Fund (Before 30-June-2006)
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Growth Fund (Post 31-July-2006)
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Growth Fund II (Post 31-Dec-2009)
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Index Fund (Post 31-July-2006)
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Index Fund II (Post 31-Dec-2009)
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Infrastructure Fund (Post 31-Dec-2009)
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Protector Fund (Post 31-July-2006)
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Protector Fund II (Post 31-Dec-2009)
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PSU Fund (Post 31-Dec-2009)
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Secure Fund (Before 30-June-2006)
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Secure Fund (Post 31-July-2006)
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UWP Fund (Post 31-July-2006)
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Particulars
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Range
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Balanced Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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50% - 90%
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Equity
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0% - 45%
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Cash & Money Market
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0% - 40%
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Balanced Fund (Post 31-July-2006)
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Government & Other Debt Securities
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50% - 90%
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Equity
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0% - 45%
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Cash & Money Market
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0% - 40%
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Balanced Fund II (Post 31-Dec-2009)
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Equity
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0% - 40%
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Debt & Money Market
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0% - 60%
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Bond Fund II (Post 31-Dec-2009)
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Debt & Money Market
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0% - 100%
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Enhancer Fund (Post 31-July-2006)
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Debt & Money Market
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0% - 40%
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Equities
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60% - 100%
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Enhancer Fund II (Post 31-Dec-2009)
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Debt & Money Market
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0% - 40%
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Equity
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60% - 100%
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Growth Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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0% - 50%
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Equity
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30% - 85%
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Cash & Money market
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0% - 40%
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Growth Fund (Post 31-July-2006)
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Government & Other Debt Securities
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0% - 50%
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Equity
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30% - 85%
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Cash & Money Market
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0% - 40%
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Growth Fund II (Post 31-Dec-2009)
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Equity
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0% - 30%
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Debt & Money Markey
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0% - 70%
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Index Fund (Post 31-July-2006)
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Debt & Money Market
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0% - 20%
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Equities
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80% - 100%
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Index Fund II (Post 31-Dec-2009)
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Dept & Money Market
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0% - 40%
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Infrastructure Fund (Post 31-Dec-2009)
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Cash & Money Market
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0% - 40%
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Equity
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0% - 60%
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Protector Fund (Post 31-July-2006)
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Government & Other Debt Securities
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60% - 100%
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Equity
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0% - 20%
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Cash & Money Market
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0% - 40%
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Secure Fund (Before 30-June-2006)
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Govt & Other Debt Securities
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60% - 100%
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Equity
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0% - 20%
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Cash & Money Market
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0% - 40%
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Secure Fund (Post 31-July-2006)
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Government & Other Debt Securities
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60% - 100%
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Equity
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0% - 20%
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Cash & Money Market
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0% - 40%
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UWP Fund (Post 31-July-2006)
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Government & Other Debt Securities
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70% - 100%
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Equity
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0% - 20%
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Cash & Money Market
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0% - 40%
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Balanced Fund (Before 30-June-2006)
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23-May-13
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42.992
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Balanced Fund (Post 31-July-2006)
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23-May-13
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42.992
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Enhancer Fund (Post 31-July-2006)
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23-May-13
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12.329
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Growth Fund (Before 30-June-2006)
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23-May-13
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33.531
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Growth Fund (Post 31-July-2006)
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23-May-13
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33.531
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Index Fund (Post 31-July-2006)
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23-May-13
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10.049
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Protector Fund (Post 31-July-2006)
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23-May-13
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16.551
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Secure Fund (Before 30-June-2006)
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23-May-13
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19.146
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Balanced Fund (Before 30-June-2006)
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Balanced Fund (Post 31-July-2006)
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Balanced Fund II (Post 31-Dec-2009)
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Bond Fund II (Post 31-Dec-2009)
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Enhancer Fund (Post 31-July-2006)
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Enhancer Fund II (Post 31-Dec-2009)
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Growth Fund (Before 30-June-2006)
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Growth Fund (Post 31-July-2006)
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Growth Fund II (Post 31-Dec-2009)
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Index Fund (Post 31-July-2006)
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Index Fund II (Post 31-Dec-2009)
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Infrastructure Fund (Post 31-Dec-2009)
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Protector Fund (Post 31-July-2006)
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Protector Fund II (Post 31-Dec-2009)
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PSU Fund (Post 31-Dec-2009)
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Secure Fund (Before 30-June-2006)
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Secure Fund (Post 31-July-2006)
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UWP Fund (Post 31-July-2006)
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06-Jul-09
09:12
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Aviva is keen on raising FDI to 49%
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06-Mar-09
12:12
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Aviva reaffirms India investment plans
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03-Mar-09
18:59
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Aviva launches LifeShield Plus
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13-Feb-09
11:00
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Capital infusion plan by middle of 2009 : Aviva CEO
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12-Feb-09
10:26
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Aviva life launches child plan Aviva Young Scholar
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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16-Dec-08
10:26
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Sales growth to be flat in December quarter: Aviva
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29-Sep-08
10:59
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TR Ramachandran as new CEO of Aviva India Life Insurance.
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24-Jul-08
17:29
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Aviva strengthens product portfolio for traditional plans
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14-Mar-08
15:10
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Aviva and BASIX together launch unique group term plan - Sangh Samruddhi
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