Home
×

Shriram Ujjwal Life SP
Shriram Ujjwal Life SP




ADD
Compare

Shriram Ujjwal Life SP Benefits

1 Loan And Benefits
1.1 Loan
4% ULIPs Life insurance plans have it !
1.2 Surrender
88% ULIPs Life insurance plans have it !
1.2.1 Surrender Value
Fund Value shall be payable
1.3 Benefits
1.3.1 Tax
All ULIPs Life insurance plans have it !
1.3.2 Tax Benefit Amount
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity proceeds are tax free under section 10(10)D subject to fulfillment of terms and conditions.
1.3.3 Service Tax
Applicable
1.3.4 Maturity
96% ULIPs Life insurance plans have it !
1.3.5 Maturity Benefit Amount
On survival till the end of the policy tenure, the Fund Value is paid to the policyholder as Maturity Benefit and the policy terminates.
1.3.6 Death
All ULIPs Life insurance plans have it !
1.3.7 Death Benefit Amount
In case of death of the Life Insured within the Policy Tenure, the nominee gets the Sum Assured + the Fund Value as Death Benefit and the policy terminates.
1.3.8 Annuity
2% ULIPs Life insurance plans have it !
1.4 Bonus
Not Defined

Shriram Ujjwal Life SP Loan

Shriram Ujjwal Life SP loan is an amount that is borrowed from the insurance company which has to be returned with interest within fixed time. Policy loan, surrender value, bonus, benefits are included under Shriram Ujjwal Life SP loan and benefits. Shriram Ujjwal Life SP Terms and Conditions for policy loan are specified by the company. This insurance policy does not provide loan. If any insurance policy provides loan then this amount will be some percentage of surrender value.

Shriram Ujjwal Life SP Surrender

Shriram Ujjwal Life SP surrender value is an amount which you receive from the insurance company in case you want to terminate your policy before maturity. Usually for a regular premium policy, you can get surrender value if you have paid Shriram Ujjwal Life SP Premium for three continuous years. Surrender value is also known as cash surrender value or cash value.

Shriram Ujjwal Life SP Bonus

Shriram Ujjwal Life SP bonus is an additional or extra sum given to a policyholder. When an insurance company makes profits then it shares the profits in the form of bonus with the life insured. Insurance policy bonus includes terminal bonus, reversionary bonus, interim bonus etc. Bonus, if available, can also be considered as one of the Shriram Ujjwal Life SP benefits. Bonus provided under this plan: Not Defined.

Reversionary bonus is the one that is based on performance of the insurance policy. You'll get terminal bonus upon termination i.e. maturity of the policy. Dates of terminal bonus are usually announced by the insurance company. If the maturity date of your policy lies within two terminal bonus dates then in its stead, you get an interim bonus.

Benefits Under Shriram Ujjwal Life SP

Benefits under Shriram Ujjwal Life SP include tax benefit, death benefit, maturity benefit and annuity benefit. Tax is applicable for this plan. Maturity can be availed under this policy. This insurance plan assures Death. Annuity is not applicable for this plan.

  • Tax benefit amount: Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity proceeds are tax free under section 10(10)D subject to fulfillment of terms and conditions.
  • Maturity benefit amount: On survival till the end of the policy tenure, the Fund Value is paid to the policyholder as Maturity Benefit and the policy terminates.
  • Death benefit amount: In case of death of the Life Insured within the Policy Tenure, the nominee gets the Sum Assured + the Fund Value as Death Benefit and the policy terminates.

If Shriram Ujjwal Life SP offers tax benefit, then the premiums you pay are eligible for deduction on tax returns and so is a part of the money you get on maturity of the policy. Maturity benefit is the amount of money you get at end of the policy term. Because of death benefit, family of the policy holder receives all the returns in the event of demise of the policy holder. With annuity benefit, you have an opportunity to secure your life financially after retirement. Annuity provides a regular source of income after retirement.

Let Others Know
×