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Insurance Company
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HDFC Standard Life Insurance Company Ltd
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Plan Name
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HDFC Group Unit Linked - Gratuity Plan
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Plan Nature
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ULIP
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Plan Category
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Gratuity Plan
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UIN No.
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101L022V02
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About Plan
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Most employers have a statutory obligation to pay a gratuity to its employees on termination of employment. This gratuity is in the form of a one-off payment made on termination of employment. It depends on salary and number of years of service, so will therefore increase with time. The HDFC Group Unit Linked Gratuity Scheme is a new and innovative unit-linked plan, which offer employers and gratuity scheme trustees a flexible and cost effective way to fund this gratuity liability.
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| No data for Basic Details |
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Benefits
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| Particulars | Description |
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Death Benefits
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Death Benefit is available if investment is made in HDFC Group Unit Linked Plan for Leave Encashment and Gratuity needs. Death benefit of Rs. 1000 is built in the life cover per member, which comes at no additional cost. You also have option of providing additional life cover to your employees at a nominal cost by subscribing to the HDFC Group Term Insurance Plan.
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Tax Benefits
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| Section | Description |
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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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SEC 36 (I) V
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The employer may contribute up to 8.33% of annual wage bill and claim it as deductiable business expense under section 36 (i) V of the Income Tax Act, 1961.
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Absolute transparency, where unit prices are declared on a daily basis and all charges to the scheme are of an explicit nature. so the employer/trustees are aware of the exact value of the fund at any poimt of time.
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Flexible investment option that give you the key advantage of spreading your funds across a range of investment options, including funds that are equity oriented.
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flexible in payment of premium, where you get the flexibility of paying in your premiums at any time during the year.
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Flexibility through fund switches, where you get total control over your funds by way of liberally switching between funds, in proportions as desired by you.
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Flexibility through premium redirection, where you have the advantage of re-directing your future premium to funds that you had previously not opted for.
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Liquidity management, being unit-linked in nature, that allows investment of smaller ammount as opposed to larger values required to be invested, incase of investments made directly in the market by the employer/trust. It also allows for liquidation of smaller amounts, to meet benefit payament as and when they fall due. The trust is not required to keep idle cash to meet these liabilities.
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Death benefits is available if investment is made in HDFC group unit linked plan for leave Enchashment and gratuiry needs. death benefits of Rs.1000 is build in the life cover per member, whichcomes at no additional cost.You also have option of providing additional life cover to your employees at a nominal cost by subscribing to the HDFC group Term Insurence plan
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Balanced Managed Fund - Group
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Balanced Managed Fund - Life I
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Defensive Managed Fund - Group
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Defensive Managed Fund - Life I
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Equity Managed Fund - Life I
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Growth Fund - Group
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Growth Fund - Life I
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Liquid Fund - Group I
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Liquid Fund - Life I
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Secure Managed Fund - Group
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Secure Managed Fund - Life I
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Sovereign Fund - Group
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Sovereign Fund - Group Non SuperAnn-Life I
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Stable Managed Fund - Group
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Stable Managed Fund - Life I
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Particulars
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Range
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Balanced Managed Fund - Group
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Money Market
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0% - 5%
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Bank Deposits
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0% - 15%
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Govt Securities & Bons
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20% - 70%
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Equity
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30% - 60%
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Balanced Managed Fund - Life I
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Money Market
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0% - 5%
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Bank Deposits
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0% - 15%
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Govt. Securities & Bonds
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20% - 70%
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Equity
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30% - 60%
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Defensive Managed Fund - Group
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Money Market
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0% - 5%
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Bank Deposis
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0% - 15%
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Eqitiy
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15% - 30%
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Defensive Managed Fund - Life I
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Money Market
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0% - 5%
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Bank Deposits
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0% - 15%
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Govt. Securities & Bonds
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50% - 85%
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Equity
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15% - 30%
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Equity Managed Fund - Life I
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Money Market
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0% - 5%
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Bank Deposits
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0% - 10%
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Govt. Securities & Bonds
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0% - 40%
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Equity
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60% - 100%
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Growth Fund - Group
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Money Market
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0% - 5%
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Equity
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95% - 100%
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Growth Fund - Life I
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Money Market
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0% - 5%
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Equity
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95% - 100%
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Liquid Fund - Group I
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Money Market
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0% - 100%
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Liquid Fund - Life I
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Money Market and Bank Deposits
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0% - 100%
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Secure Managed Fund - Group
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Money Market
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0% - 5%
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Bank Deposits
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0% - 20%
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Govt Securities & Bonds
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75% - 100%
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Secure Managed Fund - Life I
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Money Market
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0% - 5%
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Bank Deposits
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0% - 20%
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Govt. Securities & Bonds
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75% - 100%
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Sovereign Fund - Group
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Money Market
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0% - 5%
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Bank of Deposits
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0% - 20%
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Govt Securities & Bonds
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75% - 100%
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Sovereign Fund - Group Non SuperAnn-Life I
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Money Market
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0% - 5%
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Bank Deposits
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0% - 20%
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Govt Securities & Bonds
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75% - 100%
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Stable Managed Fund - Group
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Money Markt
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0% - 30%
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Bank Deposits, Govt Securities & Bonds
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70% - 100%
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Stable Managed Fund - Life I
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Money Market
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0% - 30%
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Bank Deposits, Govt Securiies and bonds
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70% - 100%
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Balanced Managed Fund - Group
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23-May-13
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78.4748
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Defensive Managed Fund - Group
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23-May-13
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55.5156
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Growth Fund - Group
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23-May-13
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204.916
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Liquid Fund - Group I
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23-May-13
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40.5317
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Secure Managed Fund - Group
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23-May-13
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39.0355
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Sovereign Fund - Group
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23-May-13
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34.2626
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Stable Managed Fund - Group
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23-May-13
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38.2772
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Balanced Managed Fund - Group
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Balanced Managed Fund - Life I
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Defensive Managed Fund - Group
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Defensive Managed Fund - Life I
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Equity Managed Fund - Life I
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Growth Fund - Group
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Growth Fund - Life I
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Liquid Fund - Group I
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Liquid Fund - Life I
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Secure Managed Fund - Group
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Secure Managed Fund - Life I
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Sovereign Fund - Group
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Sovereign Fund - Group Non SuperAnn-Life I
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Stable Managed Fund - Group
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Stable Managed Fund - Life I
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04-Aug-09
11:26
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Life insurers asks IRDA to exclude mortality charges from the overall cap on ULIP
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03-Jun-09
12:01
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HDFC Standard Life launches ULIP 'wealth multiplier'
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21-May-09
12:35
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LIC & HDFC Std Life top in fin sector TV advertisers
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08-May-09
10:42
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Capital infusion of Rs 350 cr in FY10 : HDFC Standard Life
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07-May-09
13:11
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Focusing more on business than expansion : HDFC Standard Life
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06-May-09
08:41
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Total Premium Income Grows by 15% : HDFC Standard Life
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05-May-09
10:42
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HDFC Standard Life is expected to be listed by March 2011
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13-Mar-09
12:00
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Certified Programme in Insurance by HDFC Standard Life
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03-Mar-09
12:40
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HDFC Standard Life offers health savings plan
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28-Feb-09
12:40
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HDFC Standard Life launches SurgiCare - a Health Product
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18-Dec-08
10:43
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HDFC life launches ULIP policy 'HDFC Unit Linked Endowment Winner'
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08-Dec-08
19:13
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HDFC Life unveils Life Insurance Campaign
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28-Oct-08
11:46
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HDFC Standard takes musical route to brand
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