About the Plan

Shubh Labh is a unit linked insurance plan. it helps you meet your protection and investment needs, provides you the right channel to invest your hard-earned money by providing you a choice of 5 investment funds along with providing Life Cover.

Eligibility Criteria Minimum Maximum
Entry age (Life Assured) 7 years 70 years
Policy Term 5 years 40 years
Premium Payment Term Single premium only
Annual Premium ` 300,000 No Limit,
subject to underwriting
Sum Assured 125% x single premium
(for age below 45 years)

110% x single premium
(for age 45 years and above)
10 x Single Premium
(subject to underwriting)

In this policy, the investment risk in Investment Portfolio is borne by the policyholder.

The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.


    You want to be financially comfortable and ensure that you have adequate funds in place to fulfill your dreams and to enjoy your life. Your living expenses and financial goals vary with different stages of your life, whether saving for retirement, raising a child or simply having the financial freedom to do as you want.

    • Single Premium Payment Option: This plan gives you the flexibility to pay only once, that is, a single premium at the beginning of your policy and provides you Life Cover throughout the policy term as chosen by you.
    • Unlimited Free Switching: You can switch some or all of your investments from one fund to another, any number of times at zero charges.
    • Partial Withdrawals: You can easily withdraw money from your fund in case of financial emergency through partial withdrawals from 6th policy year onwards.
    • Increase/Decrease of Sum Assured: Change in Sum Assured: You can increase or decrease your sum assured, depending on your changing needs, from the 6th policy year onwards.
    • Auto Funds Rebalancing: This option helps you maintain your investments in your preferred proportion across funds irrespective of market movements.
    • Safety Switch Option: This option enables you to potentially lock in your gains by moving your funds systematically to a relatively low risk Liquid Fund in the last 4 years.

    Death Benefits

    In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:

    • Sum Assured less applicable partial withdrawals
    • Fund value
    • 105% of single premium paid by you

    Maturity Benefit

    Your policy will mature at the end of the policy term as chosen by you at inception. You will receive the Fund Value based on the prevailing NAVs at maturity.

    Loyalty Addition

    Loyalty Additions will be added at the end of each policy month, starting from 49th policy month till the end of the policy term and will be a percentage of fund value.

    Policy Year Loyalty Additions per month
    5th onwards 0.06% of Fund Value

    Investment Funds

    You can choose to invest in 5 investment funds with equity exposure ranging 0% to100%, depending on your investment philosophy:

    • Equity II Fund
    • Growth Plus Fund
    • Balanced Plus Fund
    • Debt Plus Fund
    • Liquid Fund

    Tax Benefits#

    You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of income Tax Act, 1961. Please note that tax laws are subject to amendments from time to time.

    #Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.


    Mr. Bahri, age 45 chooses to pay a single premium of ` 10,00,000/- as shown below. He opts for a Sum Assured of 110% of the single premium. The table below shows maturity values assuming annual gross investment return of 4% and 8% with 100% investment in Equity II Fund.

    Single Premium (`) Sum Assured (`) Assuming Gross Investment Return for a 15 year Term (`)
    4% 8%
    10,00,000 11,00,000 14,88,510 26,31,428

    The assumed rates of return (4% p.a. and 8% p.a.) shown in the above illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy depends on a number of factors including future investment performance. The Fund Values shown in the above illustrative example are after deduction of all applicable charges and service tax including cess (@14.5%).


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Claims Process

  • Step1: Claim Intimation & Registration
  • Step2: Fund Value Disbursement & Documentations
  • Step3: Processing & Settlement
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