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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
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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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121L020V01
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About Plan
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Retirement means different things to different people, while some want to relax and take a trip around the world, some want to start up a venture of their own, and pursue a dream harnessed for years. The power to make your autumn years special lies only with you. The Reliance Golden Years Plan gives you the power and the right kind of solution - A retirement plan that allows you to save systematically and generate the much-needed corpus to make your olden years look golden.
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Minimum Entry Age
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18 Years
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Maximum Entry Age
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65 Years
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Minimum Policy Term
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5 Years
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Minimum Vesting Age
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45 Years
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Maximum Vesting Age
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70 Years
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Minimum Premium (Single)
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Rs. 10,000
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Minimum Premium (Regular)
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Rs. 10,000 - Minimum Premium Yearly modeRs. 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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Maturity Benefits
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The benefit payable on maturity will be equal to the value of your units.
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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 the Fund Value. 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 puchase 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 may commute up to one third of Fund Value as tax free lump sum and the balance can be used for the purchase of annuity. You can purchase an annuity either from Reliance Life Insurance Company Limited or from any other registered life insurance company.
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Surrender Benefit
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You may surrender your Policy after three years from commencement. The minimum Surrender Value is 90% of the Fund Value from the fourth Policy Year onwards.
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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 gives you the power and the right kind of solution û A retirement plan that allows you to save systematically and generate the much-needed corpus to make your olden years look golden.
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Invest systematically and secure your golden yearsA flexible unit-linked pension product that is different from traditional life insurance products with Vesting Age between 45 and 70 years Four different investment funds to choose fromFlexibility to switch between fundsOption to pay Regular, Single as well as Top-up PremiumsFlexibility to advance/extend your Vesting AgeTax free commutation up to one third of Fund Value at Vesting Age
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If you have received a bonus or some lumpsum 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.
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If you do not want to pay premium regularly, you can choose to opt for Single Premium. The minimum Single Premium amount is Rs 10,000.
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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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You may choose to extend the Vesting Date to any later Policy Anniversary, provided the Policy vests before the attainment of age 70 years. The request for extending the Vesting Date must be made at least one month before the original Vesting Date. After the Vesting Date, the benefit payable at any time will be the Fund Value.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. The annuity can also be purchased from us or from any other registered Life Insurance Company.
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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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17-May-13
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20.45
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Pension Capital Secure Fund 1
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17-May-13
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17.4921
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Pension Energy Fund 1
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17-May-13
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9.8153
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Pension Equity Fund 1
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17-May-13
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15.9814
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Pension Equity Fund 2
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17-May-13
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13.7077
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Pension Growth Fund 1
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17-May-13
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17.7921
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Pension Infrastructure Fund 1
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17-May-13
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6.3896
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Pension Midcap Fund 1
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17-May-13
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11.7414
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Pension Pure Equity Fund 1
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17-May-13
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12.2458
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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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