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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 laabh Plus
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Plan Nature
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ULIP
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Plan Category
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Protection Plan
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UIN No.
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128L017V01
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About Plan
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SHRILAABH PLUS is a Single Premium unit linked plan which makes large savings to meet specific needs of an individual, besides getting adequate insurance cover, through investment in different types of unit funds. Units in the chosen unit fund will be allotted, and defined charges will be deducted by cancellation of units each year till the policy becomes a claim.
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Minimum Entry Age
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7 Years age last birthday.
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Maximum Entry Age
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50 years age last birthday.
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Minimum Premium
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Rs.300000
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Minimum Policy Term
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15 years (Fixed)
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Minimum Sum Assured
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Rs.150000(5 times the single premium)
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Maximum Sum Assured
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Subject to underwriting consideration
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Benefits
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| Particulars | Description |
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Maturity Benefits
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On surviving up to the end of the term, value of the units to the credit will be payable.
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Death Benefits
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Sum assured and the value of the units in the life assured's account, is payable to the nominee.
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Loan against policy
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No loans will be granted under the policy.
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Switch Benefit
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The Policyholder can switch from one fund to another fund during the policy term, after the first year. The policyholder can switch two times in a year without any charge.
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Switch Benefit
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The Policyholder can switch from one fund to another fund out of the funds mentioned above, during the policy term, after the first year. The policyholder can switch two times in a year without any charge.
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Partial Withdrawal Benefit
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Partial withdrawal of units, to the credit, will be allowed after three years have elapsed from the date of commencement.
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Surrender Benefit
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Partial withdrawal of units, to the credit, will be allowed after three years have elapsed from the date of 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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Family Income Benefit Rider [128C002V01]
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Accident Shield [128A003V01]
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Two Investment Fund options: Conservator Gold and Maximus Gold.- Option to choose any of the above funds or a combination of the above funds in a fixed percentage.
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Partial withdrawal of units, to the credit, will be allowed after three years have elapsed from the date of commencement. The minimum value of the units withdrawn should be at least Rs.10000/- and this facility is available twice in a year at free of cost. For further withdrawals, a withdrawal charge of Rs.100/- will be levied. At the time of partial withdrawal, the balance fund value after the withdrawal should not fall below Rs.10,000/-.
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The Policyholder can switch from one fund to another fund out of the funds mentioned , during the policy term, after the first year. The application for switch should come to the office of the Company where the policy is being serviced, before at least one year from the end of the term of the policy. The policyholder can switch two times in a year without any charge.
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ACCIDENT SHIELD RIDERFAMILY INCOME BENEFIT RIDER
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This is a Single Premium unit linked plan which makes large savings to meet specific needs of an individual, besides getting adequate insurance cover, through investment in different types of unit funds. Units in the chosen unit fund will be allotted, and defined charges will be deducted by cancellation of units each year till the policy becomes a claim.
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Sum assured and the value of the units in the life assured's account, is payable to the nominee.
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On surviving up to the end of the term, value of the units to the credit will be payable.
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On surviving up to the end of the policy term, instead of the maturity value, the Policyholder can opt to withdraw the units in his credit in not more than 5 installments, within a period of five years from the date of maturity, at the prevailing Net Asset Value at the time of each installment.
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Conservator Gold
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Maximus Gold
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Particulars
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Range
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Conservator Gold
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Debt
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97.5% - 100%
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Short term liquid assets
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0% - 2.5%
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Maximus Gold
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Equity
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97.5% - 100%
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Short term liquid assets
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0% - 2.5%
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Conservator Gold Fund
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20-May-13
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13.79
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Maximus Gold Fund
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20-May-13
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13.99
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Conservator Gold
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Maximus Gold
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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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