Shri Ram Ujjwal Life

Recommendations :No

Name of the policy :
Shri Ram Ujjwal Life

A brief desciption :

Shri Ram Ujjwal Life is a regular ULIP providing fund value at maturity and both fund value plus sum assured as death benefit. 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 :
3/9/2010

Type of policy :
Insurance cum Investment

Category :
ULIP

Insurance :
Min- For Entry Age Below 45 years- 10 times Annualized Premium, For Entry Age Above 45 years- 7 times Annualized Premium Max- No limit

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

Entry age :
7-65 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- 30,000 Max- No limit


Premium Allocation Charge Year 1 :0%
Premium Allocation Charge Year 2 :0%
Premium Allocation Charge Year 3 :0%
Premium Allocation Charge Year 4 :0%
Premium Allocation Charge Year 5 :0%
Premium Allocation Charge Year 6 :0%
Premium Allocation Charge Year 7 :0%
Premium Allocation Charge Year 8 :0%
Fund Management Charge :1.25% for Preserver and Defender, and 1.35% for Balancer, Maximus, Accelerator & Tyaseer
Surrender/ Premium Discontinuance Charge Year 1 :Lower of 6% of (AP* or FV*) subject to max 6000
Surrender/ Premium Discontinuance Charge Year 2 :Lower of 4% of (AP* or FV*) subject to max 5000
Surrender/ Premium Discontinuance Charge Year 3 :Lower of 3% of (AP* or FV*) subject to max 4000
Surrender/ Premium Discontinuance Charge Year 4 :Lower of 2% of (AP* or FV*) subject to max 2000
Surrender/ Premium Discontinuance Charge Year 5 and above :NIl

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