Showing posts with label Eligibility Conditions for SAMRIDHI PLUS. Show all posts
Showing posts with label Eligibility Conditions for SAMRIDHI PLUS. Show all posts

SAMRIDHI PLUS Table no 804

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(PLAN 804 OPENS FROM 25TH FEB,2011 FOR MAX 3 MONTHS ONLY)
  • Higher Return
  • Greater Safety
  • Easy Liquidity
  • Entry & Exit Tax Benefit
  • With Life Risk Cover
  • Cap on Allocation charges
  • Nil Surrender Charges after 5 yrs
  • Increase in Locking Period
  • Partial withdrawal
  • Minimum Guarantee Return
  • Lower Mortality Charges
  • Lower Accident Benefit Charges
  • ULIP where Assignment Permitted
  • Capital Guarantee
  • Affordable Premium Band than Other Insurer

Unique Features:-
  1. Guaranteed Highest NAV 100 Months or NAV applicable @ the end of the term, which ever is higher
  2. Instead of increasing mortality premium this plan offers level premium.
  3. Allocation Charge and other charges are extremely low.
  4. Partial withdrawal is allowed after 5 yrs twice in a policy year minimum amount of Rs.2000/-. Under Single Premium policies minimum balance of 25% is be maintained, In case of minors , partial withdrawals shall be allowed from life assured attains majority
  5. Lowest allocation charges among all plans available in the market of such types of plans.
  6. No exit Loads.
  7. As the premium increase the charges reduce.
  8. NIL Surrender charges after 5 years
  9. A grace period of 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly (through ECS) premiums
  10. No increase or decrease in benefit
  11. It is a close-ended Guaranteed Returns Unit Linked Plan
  12. Available for eligible persons 8 to 65 years of age
  13. Fixed term of 10 years
  14. Maturity Age 18 to 75 yrs
  15. Option to pay single premium or regular premium for 5 years Yly, Hly, Qly & Mly (ECS only)
  16. Minimum Premium:Rs.30,000 for Single
  17. Rs.15,000 for Regular, Hly 8000/-
  18. Rs. Qly 4000/-ECS 1500/-
  19. Maximum Premium: For Regular Rs.100000/-
  20. For Single - No Limit (Annualized Premiums shall be payable in multiple of Rs. 1,000 for other than ECS monthly. For monthly (ECS), the premium shall in multiples of Rs.250/-).
Sum Assured shall be available in multiples of Rs.5, 000
  1. Death of the policy holder during the Policy Term when the cover is in full force:
  2. Sum Assured or the fund value which ever is more shall be payable to the nominee
  3. Maturity Benefit with Highest Guaranteed NAV
  4. At the end of the policy term, fund value based on the Highest NAV over the first 100 Months or the NAV applicable at the end of the policy term, whichever is higher is payable.
  5. Interest shall accrue from the date of discontinuance of the policy to the date of booking of liability Minimum Interest of 3.5% p.a. Payable for Discontinued Policies within 5 years
IT Benefits U/S 80 C & U/S 10.10.D of IT Act 1961*

ALLOCATION CHARGES-
  • SINGLE PREMIUM – 3.3%
  • REGULAR PREMIUM –1st YEAR 6% & SUBSEQUENT 4.5%

OTHER CHARGES
  1. Level Mortality Charge as per age at entry
  2. FMC @ 0.90% p.a.
  3. Policy Admin – @ Rs. 30 pm & with 3 % increase each year thereafter
  4. Guarantee Charge – 0.40 % of Fund value
  5. Miscellaneous Charge- Rs.50/-(For Alteration)
  6. Discontinuation Charges
  7. Service Charge 1.35% p.a
  8. In case the policyholder does not agree with the revision of charges the policyholder shall have the option to withdraw the Policyholder’s fund value.

SAMRIDHI PLUS – Table NO. 804 ELIGIBILITY CONDITIONS

S u m A s s u r e d

Mode / Age

Below 45 years

45 years and above

Minimum

Regular

10 x AP

7 x AP

Single

1.25 x SP

1.10 x SP

Maximum

Regular

20 x AP

10 x AP

Single

Age up to 55 years

Age 56 to 65 years

5 x SP

1.25 x SP


Illustration Mode Yly; Premium 1 Lac; SA 10 Lac

(Compare Allocation amount with other Insurer similar product)

1st Yr Alctn Charge

6000

4th Yr Alctn Charge

4500

Policy Admn Charge

360

Total 4th Year

4917

Total 1st Year

6360

5th Yr Alctn Charge

4500

2nd Yr Alctn Charge

4500

Total 5th Year

4938

Total 2nd Year

4878

TOTAL IN 5 YRS

25990

3rd Yr Alctn Charge

4500

Total 5 Yr Premium

500000

Total 3rd Year

4897

Allocated Amount

474010


Insurer

Product

Allocation

SBI LIFE

Smart Performer

463900

BAJAJ ANZ

Max Advantage

463000

RELIANCE

Nav Advantage

469500

HDFC

SL..Crest

464445

ICICI PRU

Pinnacle II

465000

The investment pattern will be as under

More than Capital Guarantee (Investment INR 1 Lac)

Fund Type

Govt. Securities

Short-term money market instruments

Listed Equity

Shares

Samridhi Plus Fund

0% to 100%

0% to 100%

0% to 100%

Fund Spread

60-70% [Rate of Return 8% PA Rs.70000/-

30-40%

INR 30000

10 Years

Rs.151124/-

Rs.120000

TOTAL

Rs.251124 [IRR 10.49%]

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