Shriram Ujjwal Life Plan

Introduction/Overview
Shriram Ujjwal Life Plan is a Unit Linked Plan designed to maximize investments and also provide life insurance coverage.

Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • ₹ 1 Crore

    Invest 10k Per Month*
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*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
Grow Your Wealth !
Best Plans with High Returns available on one platform
+91
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

Key Features

  • It is a linked Insurance plan with Regular Premium payment option

There are 6  funds available for premium investment:

  • Preserver
  • Defender
  • Balancer
  • Maximus
  • Accelerator
  • Tyaseer

Benefits

  • The total Fund Value + Top-up Fund Value (if any) is payable on Maturity
  • Alternatively, the maturity benefit can be availed in instalments over 5 years post maturity
  • On death, Sum Assured + Fund Value + Top-up Sum Assured + Top-up Fund Value (if any) is payable subject to 105% of all premiums paid
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Product Specification:

 

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

 

Policy Details

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.

Inclusions

  • The policy provides for top-up premiums whereby the Fund Value and the corresponding Sum Assured can be increased through investing additional premium   
  • Partial Withdrawals are allowed from 6th policy year subject to a minimum of Rs.10,000
  • 2 free switches are allowed per policy year

Additional Features or Riders

  • The policyholder can chose Auto Transfer Option under which the premium once invested under the low risk fund is gradually transferred to a high risk fund so that risk exposure is systematically managed
  • The above option can be chosen at inception and cancelled any time during the term

Exclusions

  • The benefit paid in case of suicide within 12 months of policy inception is the fund value as on that date.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Documents Required

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.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about health plans.

Ulip plans articles

Recent Articles
Popular Articles
How To Select The Best ULIP For Your Portfolio?

08 Sep 2021

ULIPs provide financial protection to the policyholder’s...
How to Choose The Right ULIP Plan In 5 Easy Steps

08 Sep 2021

Unit Linked Insurance Plans or ULIPs as known popularly, are one...
ULIP Calculator

08 Oct 2018

A ULIP calculator is a specifically developed tool which helps...
ULIP Fund Returns

08 Feb 2017

ULIP or Unit Linked Insurance plan  provides a combined benefit...
SBI Life Smart Privilege Plan - All You Need to Know About Benefits & Features

11 Jan 2017

SBI Life Insurance is one of the most trusted life insurance...
ULIP Calculator
A ULIP calculator is a specifically developed tool which helps the insurance buyers to calculate the premium...
ULIP Fund Returns
ULIP or Unit Linked Insurance plan  provides a combined benefit of investment and life cover. According to the...
SBI Life Smart Privilege Plan - All You Need to Know About Benefits & Features
SBI Life Insurance is one of the most trusted life insurance companies in India. Keeping the requirements of...
11 ULIP Charges You Should Know About
Unit-Linked Insurance plan (ULIP) offers dual benefits of insurance and investment. Unlike traditional insurance...
Everything You Need to Know about LIC Market Plus Plan
Life Insurance Corporation, one of the largest insurance providers in India, offers a variety of plan to meet the...
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL