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Product Information
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
    1. In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:
    2. Sum Assured less applicable partial withdrawals Fund value 105% of single premium paid by you
  • Maturity Benefit
    1. 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
    1. 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.
    1. Policy Year
    2. 5th onwards
    3. Loyalty Additions per month
    4. 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)