Shri Ram Life Fortune Builder

Recommendations :No

Name of the policy :
Shri Ram Life Fortune Builder

A brief desciption :

Shri Ram Life Fortune Builder is a regular Single Premium ULIP providing fund value at maturity and both fund value plus sum assured as death benefit subject to minimum of 105% of total premiums paid. However returns are restricted due to high charges levied. Moreover Sum assured is miniscule which is not sufficient to cover an earning member of the family having dependents. So it is advisable to to go for a simple term plan and invest the extra money elsewhere and earn higher returns.

Started date :
12/5/2011

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Min- For Entry Age below 45 years- 125% of Single Premium, For Entry Age above 45 years- 110% of Single Premium Max- No limit

Returns expected :
8%-10% (The performance would be less than a performing equity diversified mutual fund)

Entry age :
0-65 Years

Surrender :
If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

Minimum amount :
Min- 25,000 Max- No limit

Mortality Charges :
Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below: For Age 10- Rs 0.5 , For Age 15- Rs 1.00 , For Age 20- Rs 1.25,

surrender changes :
Nil



Fintotal Product Analysis is the ideal place to seek unbaised and neutral view on all financial products.

Do not get fooled by agents and distributors, just check here before you make any purchases.


Explore more in a easy manner.


Table of Contents

Table of Contents