Introduction/Overview
Shriram Ujjwal Life Plan is a Unit Linked Plan designed to maximize investments and also provide life insurance coverage.
Guaranteed Tax Savings
Under sec 80C & 10(10D)₹1 Crore
Invest ₹10k Per Month*Zero LTCG Tax
Unlike 10% in Mutual FundsThere are 6 funds available for premium investment:
|
Minimum |
Maximum |
Entry Age (Last Birthday) |
7 years |
65 years |
Maturity Age (Last Birthday) |
- |
75 years |
Policy Term (PT) in years |
10 |
|
Premium Paying Term (PPT) in years |
Equal to policy term |
|
Premium Paying Frequency |
Yearly |
|
Yearly Premium |
30,000 |
No limit |
Sum Assured |
10 * Annual Premium for ages<45 yrs. 7 * Annual Premium for ages>=45 yrs. |
No limit
|
Grace Period: 30 days grace period is allowed for payment of premium. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
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