Shriram Ujjwal Life Plan

Features:

1. In case of fraud, the policy will be cancelled directly by paying the surrender value.
2. 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.
3. Provides free look period of 15 days.
4. This is a unit linked insurance policy.
5. The policy tenure is for 10 years which is fixed.
6. Minimum annual premium payable is Rs.30, 000.
7. You need to pay premiums at yearly basis for a fixed policy tenure of 10 years.
8. Minimum sum assured for people belonging to the age of 45 years or below is 10 times of annual premium.
9. Minimum sum assured for people belonging to the age of 45 or above is 7 times of annual premium.
10. Maximum sum assured is subject to underwriting considerations.
11. The plan offers Auto Transfer Option (ATO) to reduce your equity related risks.
12. The sum assured can be reduced during the policy period.
13. 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.
14. The policy permits partial withdrawal after completion of 5 policy years. However, each partial withdrawal is charged Rs.100.
15. A grace period of 30 days is offered for premium payments.
16. The policy can be surrendered at any time during the policy tenure.
17. The policy permits switching. You can switch your funds from one fund to another during the policy tenure.

Benefits: