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Insurance Company
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Shriram Life Insurance Company Ltd
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Plan Name
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Shriram Vivah
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Plan Nature
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TRADITIONAL
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Plan Category
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Special Plan
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UIN No.
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128N007V01
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About Plan
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SHRI VIVAH is a life Insurance plan that provides financial support at the time of marriage of one's children. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
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Minimum Entry Age
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18 Years
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Maximum Entry Age
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50 Years
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Minimum Maturity Age
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75 Years
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Minimum Policy Term
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7 Years
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Maximum Policy Term
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25 Years
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Minimum Sum Assured
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Rs 50000
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Minimum Top Up Premium
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Rs.5000/-
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On survival up to the end of the policy term Sum Assured and vested bonuses will be paid at the end of the policy term.
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Death Benefits
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On death during the policy term Sum Assured and vested bonuses, will be paid and 1% of the Sum Assured will be payable monthly till the end of the policy term. Further one Sum Assured will be payable at the end of the policy term.
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Loan against policy
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Loan will be available up to 90% of the surrender value of policy. The company will determine the rate of interest to be charged on such loan amount from time to time.
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Surrender Benefit
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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 and premiums paid for all extras and riders if any, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy.
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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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Family Income Benefit Rider [128C002V01]
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Accident Benefit Rider [128B001V01]
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SHRI VIVAH is a life Insurance plan that provides financial support at the time of marriage of one's children. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.On death during the policy term --- Sum Assured and vested bonuses, will be paid and 1% of the Sum Assured will be payable monthly till the end of the policy term. Further one Sum Assured will be payable at the end of the policy term On survival up to the end of the policy term ---- Sum Assured and vested bonuses will be paid at the end of the policy term
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SHRI VIVAH is a life Insurance plan that provides financial support at the time of marriage of one's children. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policyterm.
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If the payment of premium is discontinued after a minimum of three years, premiums are paid and three years have elapsed from the date of commencement, the policy will not be fully void, but will acquire a paid up value and the life insurance protection will continue to the extent of the paid up value until the end of the policy term.The paid-up value will be equal to, the sum assured (amount of premiums paid / total amount of premiums payable).A policy that becomes paid up will not participate in future profits, but any Bonuses already vested will be added in full to the paid up value determined as above. The paid up value shall be paid at the end of the policy term or death of the life assured whichever is earlier.
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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 and premiums paid for all extras and riders if any, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy.
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Loan will be available up to 90% of the surrender value of policy. The company will determine the rate of interest to be charged on such loan amount from time to time.
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ACCIDENT BENEFIT RIDER
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10-Jun-09
14:26
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Increasing stake in Shriram Life Insurance : Sanlam
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29-Jan-09
16:51
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Insurers to inform consumer on bouncing of cheque
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29-Oct-08
12:05
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IRDA asks ULIP performance report
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