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SHRINIDHI is a with-profits savings product offering liquidity along with life cover. The premiums are payable at regular intervals during the term of the policy and the policy term will always be a multiple of three years.
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The premiums paid under this policy will be eligible for rebate as per sec. 80 C of the Income Tax Act, 1961. Benefits received from the life insurance policy are exempt from Income Tax under Sec 10 (10 D) of the Income Tax Act, 1961. However, it is advised that the proposer may consult his tax advisor for further details.
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Accident Benefit and Permanent Disability Benefit RiderFamily Income Benefit Rider
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The guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year, less the amount of survival benefits already paid, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy. The policy will not have any surrender value after the policy term.
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Sum assured along with vested bonuses will be paid and the policy comes to an end.
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On survival up to the end of every 3rd year from date of commencement of policy but before the end of policy term Periodic lump sum payments (known as survival benefits) will be paid.
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Remaining sum assured (sum assured less the total amount of survival benefits already paid) along with vested bonuses, will be paid
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