Shriram Life Ujjwal Life Plan, Policy, Premium and Maturity Calculator - This is a regular premium unit linked life insurance plan offered by Shriram Life Insurance Company. The plan is designed to meet your financial goal.
Features - Shriram Ujjwal Life Plan and Policy
- No loan will be granted under this policy.
- In case of fraud, the policy will be cancelled directly by paying the surrender value.
- The policy offers cooling off period. If you are not happy with your policy, you can return it to the company within 15 to 30 days.
- Provides free look period of 15 days.
- This is a unit linked insurance policy.
- The policy tenure is for 10 years which is fixed.
- Minimum annual premium payable is Rs.30, 000.
- You need to pay premiums at yearly basis for a fixed policy tenure of 10 years.
- Minimum sum assured for people belonging to the age of 45 years or below is 10 times of annual premium.
- Minimum sum assured for people belonging to the age of 45 or above is 7 times of annual premium.
- Maximum sum assured is subject to underwriting considerations.
- The plan offers Auto Transfer Option (ATO) to reduce your equity related risks.
- The sum assured can be reduced during the policy period.
Premium rate is affordable and low. However, you need to pay a premium allocation charge of 9% for the 1st year, 6% for the 2nd to 6th year and 5% from 6th year onwards. The charges will be deducted from your basic annual premium at the beginning of your policy.
- The policy permits partial withdrawal after completion of 5 policy years. However, each partial withdrawal is charged Rs.100.
- A grace period of 30 days is offered for premium payments.
- The policy can be surrendered at any time during the policy tenure.
- The policy permits switching. You can switch your funds from one fund to another during the policy tenure.
Benefits - Shriram Ujjwal Life Plan and Policy
- The plan offers tax benefits. Premium paid under this policy is eligible for tax benefit under section 80C of India Income tax act.
The plan offers six flexible investment funds and the policyholder has the liberty to choose among these funds as per his/her risk appetite.
Get death benefits with this life insurance policy. In the event of death of the life assured, death benefits will be offered to the nominee provided the policy is active. The death benefits will include - sum assured, fund value of the policy and top up fund value, if any.
The policy offers maturity benefits. If the policyholder survives till the end of policy tenure, he/she will receive the fund value and top up fund value, if any.
Eligibility - Shriram Ujjwal Life Plan and Policy
- Minimum entry age for this policy is 7 years.
- Maximum entry age is 65 years.
- Maximum age of maturity is 75 years.
Apart from providing many attractive benefits, the Shriram Ujjwal Life Insurance plan also offers a number of flexibilities such as grace period, free look period, cooling off period etc.
Shriram Life Savings Insurance Plans and Policy