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Insurance Company
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Reliance Life Insurance Co Ltd
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Plan Name
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Reliance Golden Year Plan Value
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Plan Nature
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ULIP
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Plan Category
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Retirement
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UIN No.
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121L023V01
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About Plan
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Reliance Golden Years Plan Value, as a retirement plan that allows you to save systematically to generate a much needed corpus to make your olden years look golden.
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Minimum Entry Age
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18 Years last birthday
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Maximum Entry Age
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59 Years last birthday
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Minimum Vesting Age
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45 Years last birthday
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Maximum Maturity Age
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64 Years last birthday
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Minimum Policy Term
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5 Years
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Minimum Sum Assured
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Rs. 25,000
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Maximum Sum Assured
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No Limit
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Minimum Premium
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Rs. 10,000 - Minimum Premium Yearly mondeRs. 5,000 - Minimum Premium Half-Yearly modeRs. 2,500 - Minimum Premium Quarterly modeRs. 1,000 - Minimum Premium Monthly mode
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Minimum Top Up premium
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Rs. 2,500
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Benefits
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| Particulars | Description |
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Death Benefits
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In the unfortunate event of your death during the Policy Term, the Beneficiary will get Sum Assured or Fund Value whichever is higher. This amount can be taken as a lump sum or an annuity can be purchased for the entire lump sum or portion of it. The Beneficiary will have the option to purchase an annuity either from Reliance Life Insurance Company Limited or from any other registered life insurance company.
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Vesting Benefit
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On vesting, you can purchase annuity plan for the full Fund Value. You can also commute up to one third of Account Value as tax free. lump sum and the balance can be used for the purchase of annuity. You can purchase an annuity either fromReliance Life Insurance Company Limited or from any otherregistered life insurance company.
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Surrender Benefit
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To purchase an annuity plan with the entire Fund Value or, To commute up to one third of Fund Value as tax free lump sum and to puchase an annuity plan with the balance Fund Value.
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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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Accidental death & Total & Permanent Disablement Rider [121C002V01]
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The Reliance Golden Years Plan Value gives you the right kind of solution. A retirement plan that allows you to save systematically to generate a much needed corpus to make your olden years look golden.
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You have the benefit of investment options. You can choose your investment option from four different funds.
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1. On vesting, you can purchase annuity plan for the full Fund Value 2. You can also commute up to one third of Account Value as tax free lump sum and the balance can be used for the purchase of annuity3. Open Market Option: you can purchase an annuity either from Reliance Life Insurance Company Limited or from any otherregistered life insurance company.
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In the unfortunate event of your death during the Policy Term, the Beneficiary will get Sum Assured or Fund Value whichever is higher. This amount can be taken as a lump sum or an annuity can be purchased for the entire lump sum or portion of it. The Beneficiary will have the option to purchase an annuity either from Reliance Life Insurance Company Limited or from any other registered life insurance company.
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In the unfortunate event of your death during the deferment period your Beneficiary will get the higher of Sum Assured or Fund Value. Your contribution towards the death cover keeps decreasing as the Fund Value increases due to investment performance. This leads to faster accumulation towards your pension fund and the death cover will be decreasing so that the total Death Benefit is atleast equal to the Sum Assured you have chosen during the plan period.
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You have the option to package Accidental Death & Accidental Total and Permanent Disablement Benefit rider with this product as per your needs.
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If you have received a bonus or some lump sum money you can use that as a top-up to increase your investments at any time in your Policy. The minimum Top-up amount is Rs 2,500. 95% of any amount paid as top-up is allocated to your funds. The Sum Assured is not affected due to top-ups.
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Depending upon the performance of your funds you can switch between them. There will be one free switch in a Policy Year and for additional switches, Switching Charge of 1% of amount switched will be levied, subject to a maximum of Rs 1000 on each such occasion.
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The Policyholder may also choose an earlier Vesting Date, after completion of five years of Policy Term or age 45 years whichever is later. The request for an earlier Vesting Date should be received at least one month before the proposed vesting date. On attainment of the new Vesting Date the Policyholder is eligible to purchase annuity for the full Fund Value or commute up to one third of the Fund Value as tax free lump sum and the balance can be used for the purchase of annuity.
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Pension Balanced Fund 1
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Pension Capital Secure Fund 1
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Pension Energy Fund 1
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Pension Equity Fund 1
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Pension Equity Fund 2
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Pension Growth Fund 1
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Pension Infrastructure Fund 1
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Pension Midcap Fund 1
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Pension Pure Equity Fund 1
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Particulars
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Range
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Pension Balanced Fund 1
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Corparate Debt
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0% - 80%
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Equity
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0% - 20%
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Pension Capital Secure Fund 1
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Money Market Instruments
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0% - 100%
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Pension Energy Fund 1
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Equity
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0% - 100%
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Pension Equity Fund 1
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Equity
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0% - 100%
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Pension Equity Fund 2
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Equity
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0% - 100%
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Pension Growth Fund 1
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Corporate Debt
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0% - 60%
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Equity
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0% - 40%
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Pension Infrastructure Fund 1
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Equity
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0% - 100%
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Pension Midcap Fund 1
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Equity
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0% - 100%
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Pension Pure Equity Fund 1
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Pure Equity
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0% - 100%
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Pension Balanced Fund 1
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23-May-13
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20.2775
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Pension Capital Secure Fund 1
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23-May-13
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17.5137
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Pension Energy Fund 1
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23-May-13
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9.2851
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Pension Equity Fund 1
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23-May-13
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15.2335
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Pension Equity Fund 2
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23-May-13
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13.1329
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Pension Growth Fund 1
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23-May-13
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17.4729
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Pension Infrastructure Fund 1
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23-May-13
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6.0101
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Pension Midcap Fund 1
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23-May-13
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11.3368
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Pension Pure Equity Fund 1
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23-May-13
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11.8578
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Pension Balanced Fund 1
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Pension Capital Secure Fund 1
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Pension Energy Fund 1
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Pension Equity Fund 1
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Pension Equity Fund 2
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Pension Growth Fund 1
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Pension Infrastructure Fund 1
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Pension Midcap Fund 1
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Pension Pure Equity Fund 1
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10-Jul-09
11:59
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Concerns over insurers' IPO listing
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06-Jun-09
10:21
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Reliance Life Insurance to mop up Rs 1,500-2,000 cr through IPO
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23-May-09
12:40
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Reliance Cap plans to sell 10 to 26% of its life insurance unit
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22-May-09
10:40
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Reliance Capital is planning to IPO of its insurance arm
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13-May-09
11:23
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Reliance Life Insurance reduced the number of agents
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30-Mar-09
15:56
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Seeking CEO for Insurance JV
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09-Feb-09
09:58
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Expanding operation beyond Indian shores: Reliance Life CEO
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05-Feb-09
09:50
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Reliance General Insurance launched claim survey 'Motoveys Claimlook'
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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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12-Jan-09
14:50
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Reliance ADAG is in talks to sell a minority stake in its insurance distribution business to THB
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12-Jan-09
13:50
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Reliance Life Insurance launched Group Savings Linked Plan
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22-Dec-08
14:56
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Reliance Life launches Guaranteed Return Plan Series I
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12-Dec-08
11:40
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Reliance Life launches Super InvestAssure Plan - Plus
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08-Dec-08
12:56
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Reliance Life expects the first premium income to cross $1 billion
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05-Dec-08
12:46
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Reliance Life to hire 2,500 managers, 90,000 advisers in 4 months
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