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| Event |
Maturity/death benefits payable |
Death Benefit
|
Sum Assured or the value of the units
in life assured's account whichever is higher, is payable
to the nominee. Further the nominee has an option to
utilize the benefit amount to purchase Immediate Annuity
Plan from Shriram Life Insurance Company. |
Maturity Benefit
|
On surviving up to the end of the term,
value of the units to the credit will be payable. Further
the policyholder has an option to utilize the benefit
amount to purchase Immediate Annuity Plan from Shriram
Life Insurance Company. |
Settlement Option
|
On surviving up to the end of the policy
term, instead of the maturity
value, the Policyholder can opt to withdraw the units
in his credit in not
more than 5 installments, within a period of five years
from the date of
maturity, at the prevailing Net Asset Value at the time
of each
installment. |
|
| Condition |
Limit |
| Minimum age at entry |
12 |
| Maximum age at entry |
65 |
| Minimum Annualized Premium |
Rs 12,000 |
| Duration of the Plan |
5 to 40 years |
| Minimum sum assured |
0.5*t*Annual Premium
or Rs.60,000/- whichever is higher, where t is the policy
term. |
| Maximum sum assured |
Subject to underwriting
considerations. |
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