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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 Savings Linked Insurance Plan
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Plan Nature
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ULIP
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Plan Category
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NA
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UIN No.
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NA
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About Plan
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Reliance Savings Linked Insurance Plan is a unit linked savings plan, with an inbuilt life cover offered to groups such as employer û employee, associations etc. A part of the Contribution/premium paid would be used to provide for the insurance cover and the remaining would be utilized for savings, by investing in market linked securities.
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Minimum Entry Age
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18Years
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Maximum Entry Age
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65Years
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Minimum Premium
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Rs.6000
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Minimum Policy Term
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5years
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Maximum Policy Term
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30years
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Benefits
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| Particulars | Description |
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Maturity Benefits
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Fund Value as on date of maturity / retirement.
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Death Benefits
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Sum Assured plus Fund Value as on date of intimation of death.
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Surrender Benefit
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The surrender Value under the basic plan will be the Fund value under all members' unit accounts including fund value in respect of additional contributions/premiums less surrender charge, 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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This is a regular premium, unit linked savings plan. The plan offers the twin benefit of insurance cover along with savings, by investing in market linked securities.
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Choice of eight different funds to choose from, including a Pure Equity Fund & Sectoral Funds.Liquidity through partial withdrawals.Unmatched flexibility through switching, top-up's & premium redirection.
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Sum Assured plus Fund Value as on date of intimation of death.
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Fund Value as on date of maturity
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Switching gives you the flexibility to alter the allocation of your investments among the funds to suit your changing investment needs. At any time during the policy term, you may instruct the Company, in writing, to switch some or all of the units from one unit linked fund to another. The company will give effect to this switch by cancelling units in the old fund and allocating units in the new fund. In respect of switching requisition received up to 3.00 p.m. by the company, the closing unit price of the day shall be applicable. In respect of switching requisition received after 3.00 p.m. by the company, the closing unit price of the next business day shall be applicable. You are entitled to 52 free switches in any policy year. Unused free switches cannot be carried forward to the following year.
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You can use your bonus or some lump sum money to increase investments component. The minimum Topup is Rs.2, 500. The total Top-up premiums at all times should not exceed 25% of the total regular premiums paid till that time. Top-up are accepted only when due basic premiums are paid up to date.
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You may instruct us in writing to redirect all the future premiums under a policy in an alternative proportion to the various unit funds available. Redirection will not affect the allocation of premium(s) paid prior to the request.
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Partial withdrawals are available after a period of 3 years from the date of commencement of the policy. There would be a 3-years lock-in period on the Top-up premium(s) from the date of payment of each Top-up premium(s). This condition will not apply if Top-up premium(s) are paid during the last 3 years before the maturity. The minimum amount of partial withdrawal is Rs. 5000 and the maximum amount should not exceed 20% of the policy fund value in that policy year. However, at any point of time during the policy term, the minimum fund balance after the partial withdrawal should be at least equal to 125% of the annualized premium. On a partial withdrawal while the Life Assured's age is less than 60 years last birthday, the Sum Assured under the basic Plan will be reduced by the amount of partial withdrawals made in the preceding 24 months of the date of partial withdrawal. On a partial withdrawal while the Life Assured's age is equal to or greater than 60 years last birthday, the Sum Assured under the basic Plan will be reduced by the amount of partial withdrawals made in the 24 months preceding the 60th birthday of the policyholder and all partial withdrawals after the 60th birthday. If at any point of time the fund value is less than the mortality and policy administration charge for the next month, the policy will be foreclosed by paying the fund value. Partial withdrawal charges applicable. Refer the section on charges.
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Life Corporate Bond Fund 2
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Life Energy Fund 1
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Life Equity Fund 2
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Life Gilt Fund 2
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Life Infrastructure Fund 1
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Life Midcap Fund 1
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Life Money Market Fund 2
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Life Pure Equity Fund 1
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Particulars
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Range
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Life Corporate Bond Fund 2
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Bond Instrument
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0% - 100%
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Life Energy Fund 1
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Equity
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0%-100%
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Life Equity Fund 2
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Equity
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0% - 100%
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Life Gilt Fund 2
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Government Securities.
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0% - 100%
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Life Infrastructure Fund 1
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Equit
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0% - 100%
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Life Midcap Fund 1
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Equity
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0% - 100%
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Life Money Market Fund 2
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Money Market Instruments
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0% - 100%
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Life Pure Equity Fund 1
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Equities in sectors other than banks and non-banking financial companies, breweries, distilleries, alcohol based chemicals, cigarettes, tobacco, entertainment, leather, suger and hatcheries.
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60% - 100%
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Corporate bonds and other debt instruments/ Bank deposits/ Money Market Instruments
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0% - 40%
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Life Corporate Bond Fund 2
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18-Jun-13
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14.9999
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Life Energy Fund 1
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18-Jun-13
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9.6254
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Life Equity Fund 2
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18-Jun-13
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13.1428
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Life Gilt Fund 2
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18-Jun-13
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13.544
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Life Infrastructure Fund 1
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18-Jun-13
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6.0758
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Life Midcap Fund 1
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18-Jun-13
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10.4648
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Life Money Market Fund 2
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18-Jun-13
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14.2302
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Life Pure Equity Fund 1
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18-Jun-13
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12.8915
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Life Corporate Bond Fund 2
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Life Energy Fund 1
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Life Equity Fund 2
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Life Gilt Fund 2
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Life Infrastructure Fund 1
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Life Midcap Fund 1
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Life Money Market Fund 2
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Life 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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