Other Plans
Shubh Labh (ULIP)
Synopsis:
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Shubh Labh is a unit linked insurance plan. it helps you meet your protection and investment needs, provides you the right channel to invest your hard-earned money by providing you a choice of 5 investment funds along with providing Life Cover.
Benefits:
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- Death Benefits
-
- In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:
- Sum Assured less applicable partial withdrawals Fund value 105% of single premium paid by you
- Maturity Benefit
- Your policy will mature at the end of the policy term as chosen by you at inception. You will receive the Fund Value based on the prevailing NAVs at maturity.
- Loyalty Addition
- Loyalty Additions will be added at the end of each policy month, starting from 49th policy month till the end of the policy term and will be a percentage of fund value.
- Policy Year
- 5th onwards
- Loyalty Additions per month
- 0.06% of Fund Value
Highlights:
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- Single Premium Payment Option: This plan gives you the flexibility to pay only once, that is, a single premium at the beginning of your policy and provides you Life Cover throughout the policy term as chosen by you.
- Unlimited Free Switching: You can switch some or all of your investments from one fund to another, any number of times at zero charges.
- Partial Withdrawals: You can easily withdraw money from your fund in case of financial emergency through partial withdrawals from 6th policy year onwards.
- Increase/Decrease of Sum Assured: Change in Sum Assured: You can increase or decrease your sum assured, depending on your changing needs, from the 6th policy year onwards.
- Auto Funds Rebalancing: This option helps you maintain your investments in your preferred proportion across funds irrespective of market movements.
- Safety Switch Option: This option enables you to potentially lock in your gains by moving your funds systematically to a relatively low risk Liquid Fund in the last 4 years.
Eligibility:
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Eligibility Criteria |
Minimum |
Maximum |
Entry age (Life Assured) |
7 years |
70 years |
Policy Term |
5 years |
40 years |
Premium Payment Term |
Single premium only |
|
Annual Premium |
300,000 |
No Limit, subject to underwriting |
Sum Assured |
125% x single premium
(for age below 45 years)
110% x single premium
(for age 45 years and above)
10 x Single Premium
(subject to underwriting) |
|