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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 Secure Child Plan
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Plan Nature
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ULIP
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Plan Category
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Unit Linked
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UIN No.
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121L026V01
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About Plan
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Reliance Secure Child Plan, a unit-linked Insurance Plan, that gives you the freedom to enjoy today with your child, because his tomorrow is in safe hands.
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Minimum Entry Age
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30 days
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Maximum Entry Age
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15 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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25 Years
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Minimum Premium
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Rs 10000
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Minimum Premium
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Rs 25000
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Benefits
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| Particulars | Description |
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Maturity Benefits
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Payable on survival of the child up to the end of the policy term, provided the policy is in full force. Maximum ofFund value (including fund value under Return Shield Fund and e-Account) as on the date of maturity relating to the basic policy or 95% of total Premiums paid under the basic plan less extra or additional premiums if any provided no partial withdrawals were from any of the funds except redemption of points from e-Account for availing of services of web based community and that Equity fund was not selected at any time during the policy term. Plus Fund Value (including fund value under Return Shield Fund and e-Account) under top-up contributions (if any), as on the date of maturity, and95% of total Top-up amount paid provided no partial withdrawal was made from the top up fund except redemption of points from e-Account for availing of services of web based community and that the top up was paid ten years before the date of maturity and that Equity fund was not selected at any time in respect of the top up and that the capital guaranteeis applicable under basic plan.
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Death Benefits
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I) If death of the child occurs after commencement of risk cover the death benefit will be Maximum of Sum assured or Fund value ( including fund value under Return Shield Fund and e-Account) as on the date of intimation of death relating to the basic policy, or 95% of total Premiums paid under the basic plan less extra or additional premiums if any provided no partial withdrawals were made from any of the funds except redemption of points from e-Account for availing of services of web based community and that the Equity fund was never selected up to the date of death. Plus Maximum of Fund Value (including fund value under Return Shield and e-Account)under top-ups (if any), as on the date of intimation of death95% of total Top-up amount paid provided no partial withdrawal was made from the top up fund except redemption of points from e-Account for availing of services of web based community and that the Capital Guarantee is applicable for the basic plan, and that Equity fund option was never selected.II) If death of the child occurs before commencement of risk cover, the death benefit will be Fund value (including fund value under Return Shield and e-Account) as on the date of intimation of death relating to the basic policy Plus Fund Value (including fund value under Return Shield and e-Account) under top-up contributions (if any), as on the date of intimation of deathBoth under Case I and Case II, the claim amount is payable to the parent or, to the child's estate, in case the parent had pre-deceased the child. The policy terminates on payment of the death benefit for the child.
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Death Benefits
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In the event of the death of the parent provided the policy is in full force all future premiums are waived thereafter for the remaining policy term. The policy continues and the Company will continue to pay the original Premiums as chosen by the policyholder on due dates.
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Loan against policy
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Loans will not be available under this plan.
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Partial Withdrawal Benefit
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You can make partial withdrawals after three years from the date of commencement, of the policy or on attainment of age 18 by the child whichever is later. Partial withdrawals can be made from all the funds except the e-Account how ever during the tenure of the policy, redemption of points from e-Account for availing the services of web based communityis allowed.
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Surrender Benefit
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Surrender your policy at any time after three years from commencement.
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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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Critical Conditions Rider [121B003V01]
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Term Life Insurance Benefit Rider [121C009V01]
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Reliance Secure Child is unit-linked Insurance Plan gives you the freedom to enjoy today with your child, because his tomorrow is in safe hands.
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Capital guarantee under Regular premium basics policy comprises payment of 95% of total Premiums paid under the basic plan less extra or additional premiums if any provided no partial withdrawals were made any fund except redemption of points from e-Account for availing of services of web based community and that the Equity, Mid-Cap, Infrastructure, Energy and Pure Equity fund was never selected up to the date of death. Capital Guarantee will not be available under Single Premium, Limited Premium policy and on Top up premiums paid under Single premium, Limited premium and Regular premium policy.
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A. Death of Child Case 1: If death of the child occurs after commencement of risk cover, the death benefit will bea) If mode of premium payment is Regular,Maximum ofi) Sum assuredii) Fund value (including fund value under Return Shield Fund and e - Account) as on the date of intimation of death relating to the basic policy.iii) 95% of total Regular Premiums paid under the Regular premium basic Policy less extra or additional premiums if any provided no partial withdrawals were made any fund except redemption of points from e-Account for availing of services of web based community and that the Equity, Mid-Cap, Infrastructure, Energy and Pure Equity fund was not selected at any time during the policy term. PlusFund Value (including fund value under Return Shield and e - Account) under top-ups (if any), as on the date of intimation of death.b) If the mode of premium payment is Limited or SingleMaximum ofi) Sum assuredii) Total Fund value ( including fund value under Return Shield Fund and e- Account) under Basic Plan as on the date of intimation of death.PlusFund Value (including fund value under Return Shield Fund and e- Account) under top-ups (if any), as on the date of intimation of death.Case 2: If death of the child occurs before commencement of risk cover, the death benefit will be:Fund value (including fund value under Return Shield and e - Account) as on the date of intimation of death relating to the basic policyPlusFund Value (including fund value under Return Shield and e - Account) under top-up contributions (if any), as on the date of intimation of death,,Both under Case 1 and Case 2, the claim amount is payable to the parent or, to the childÆs estate, in case the parent had pre-deceased the child. The policy terminates on payment of the death benefit for the child.
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In the event of the death of the parent provided the policy is in full force all future premiums are waived thereafter for the remaining policy term. The policy continues and the Company will continue to pay the original premiums as chosen by the policyholder on due dates.
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If the child who gets totally & permanently disabled as a result of an accident during the policy term, fixed income at a rate of 10% of the sum assured under the policy, per annum will be paid to the child throughout his/her life. The policy contract will continue with all other benefits. total and permanent disablement means that the life assured has solely and directly as a result of an accident caused by outward, violent and visible means suffered for at least six months from any of the disability as follows:- Total and irrecoverable loss of the sight of both eyes, orLoss by severance of two limbs at or above wrist or ankle, orTotal and irrecoverable loss of the sight of one eye and loss by severance of one limb at or above wrist or ankle, and totally and permanently disabled has a corresponding meaning.
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Payable on survival of the child up to the end of the policy term, provided the policy is in full force I) If the mode of premium payment is Regular:Maximum ofi) Fund value( including fund value under Return Shield Fund and e - point Account) as on the date maturity relating to the basic policy ii) ii) 95% of total Regular Premiums paid under the Regular Premium basic Policy less extra or additional premiums if any provided no partial withdrawals were from any fund except redemption of points from e-Account for availing of services of web based community and that Equity, Mid-Cap, Infrastructure, Energy and Pure Equity fund was not selected at any time during the policy term.Plus-i) Fund Value (including fund value under Return Shield Fund and e - point Account) under top-up contributions (if any), as on the date of maturity.II) If the mode of premium payment is Limited or Single:Fund value ( including fund value under Return Shield Fund and e- Account) as on the date of maturity relating to the basic policy. PlusFund Value ( including fund value under Return Shield Fund and e- Account) under top-ups (if any), as on the date of maturity.
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The sum assured under the policy is fixed under regular & limited premium payment policies. The fixed sum assured is annualized premium multiplied by half the policy term. For single premium payment option, the minimum sum assured is 125% of the single premium amount and the maximum sum assured is 5 times the single premium paid.
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The riders are available under regular premium policies. You can addAccidental Death & Accidental Total & Permanent Disablement Rider, Critical Conditions Rider and Term Life Insurance Benefit Rider at any time during the policy term on the life of Child after attainment of age 18.
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You can make partial withdrawals after three years from the date of commencement, of the policy or on attainment of age 18 by the child whichever is later. Partial withdrawals can be made from all the funds except the e - Account. However during the tenure of the policy, redemption of points from e-Account for availing the services of web based community is allowed.If the partial withdrawal is made from a fund, the capital guarantee under the Regular Premium basic policy (if any) on death of the child and on maturity of the policy will cease immediately. However, The partial withdrawals will not affect the risk cover.
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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 the investments component in your Policy. Top-ups are allowed only if all basic premiums due till date are paid. At any time, the maximum amount of all top-up premiums allowed is restricted to 25% of the total basic regular/limited/single premium paid till date. The minimum top-up premium amount is Rs. 2,500. Capital Guarantee will not be available for Top ups paid under Single Premium, Regular Premium and Limited Premium policies.
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At any time, the policyholder may instruct the Company, in writing, to switch some or all of the units from one unit linked fund to another. However, switching in to and out of Return Shield Fund and e-Account is not permissible.The company will give effect to the switch by canceling 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 losing unit price of the next business day shall be applicable. The policyholder is entitled to four free switches each policy year. Unused free switches cannot be carried forward to a following year.Once a switch is made in to Equity or Mid-Cap or Infrastructure or Energy or Pure Equity Fund, the capital guarantee under the Regular premium basic policy will cease immediately. The capital guarantee can not be re-established by switching out of Equity fund.
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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. However, premium redirection in to Return Shield Fund and e-Account is not permissible.The premium redirection will not affect the allocation of premium(s) paid prior to the request. If Equity fund or Mid-Cap or Infrastructure or Energy or Pure Equity fund is selected aftIf Equity fund is selected after redirection, the capital guarantee under the Regular premium basic policy if any will cease immediately. Once the capital guarantee ceases, it can not be re-established.
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The rights and interests under the policy shall automatically vest with the life of the child upon the child attaining the age of 18 years.
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Nomination is allowed after the child attains age 18.Nomination is not allowed under this plan until the child attains age 18.However, parent may appoint an Appointee on inception of the policy.Appointee shall be the custodian of the policy benefits if the event of death of the parent until the child attains the majority.
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Life Balanced Fund 1
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Life Energy Fund 1
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Life Equity Fund 2
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Life Growth Fund 2
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Life Infrastructure Fund 1
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Life Midcap Fund 1
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Life Pure Debt Fund 1
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Life Pure Equity Fund 1
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Particulars
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Range
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Life Balanced Fund 1
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Debt Securities
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0% - 100%
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Equities
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0% - 20%
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Money Market Instruments Incl. Liquid Mutual Fundsand bank deposits
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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 Growth Fund 2
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Debt Securities
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0% - 60%
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Equities
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0% - 40%
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Money Market Instruments Incl. Liquid Mutual Funds and bank deposits
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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 Pure Debt Fund 1
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Debt 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 Balanced Fund 1
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17-May-13
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20.4622
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Life Energy Fund 1
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17-May-13
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10.4117
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Life Equity Fund 2
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17-May-13
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14.0875
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Life Growth Fund 2
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17-May-13
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13.2543
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Life Infrastructure Fund 1
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17-May-13
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6.6802
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Life Midcap Fund 1
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17-May-13
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11.2675
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Life Pure Debt Fund 1
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17-May-13
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16.518
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Life Pure Equity Fund 1
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17-May-13
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13.5962
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Life Balanced Fund 1
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Life Energy Fund 1
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Life Equity Fund 2
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Life Growth Fund 2
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Life Infrastructure Fund 1
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Life Midcap Fund 1
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Life Pure Debt Fund 1
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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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