ABSLI Life Shield Plan UIN 109N109V03 A non-linked non - - PowerPoint PPT Presentation
ADV/6/20-21/290 ABSLI Life Shield Plan UIN 109N109V03 A non-linked non participating term insurance plan 1 Lifes journey and the uncertainties Life is a journey full of events, good or bad, happy or sad, positive or negative
UIN – 109N109V03 ADV/6/20-21/290
A non-linked non – participating term insurance plan
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UIN – 109N109V03 ADV/6/20-21/290
Education Job Car House Marriage Travel Children Retirement Untimely Death Disability Critical Illness
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UIN – 109N109V03 ADV/6/20-21/290
UIN – 109N109V03 ADV/6/20-21/290
ASSETS can turn into LIABILITIES for family in your absence…
UIN – 109N109V03 ADV/6/20-21/290
Family may need funds and that too large sums suddenly Now you can shield your family against liabilities
UIN – 109N109V03 ADV/6/20-21/290
A non-linked non – participating term insurance plan
Aditya Birla Sun Life Insurance Company Ltd
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
❑ Flexibilities to customize and create a solution to meet different protection need ❑ Multiple plan option Level SA / Increasing SA/ Decreasing SA / Return of premium ❑ Option to cover spouse under the same policy. ❑ Option to increase coverage at key milestones of life ❑ Multiple option to receive death benefit to meet nominee’s needs. ❑ Inbuilt terminal illness benefit. 7
UIN – 109N109V03 ADV/6/20-21/290
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Option 1 – Level Term Assurance Option 2 – Level Term Assurance with Waiver of Premium (WOP) Benefits Option 3 – Increasing Term Assurance Option 4 – Increasing Term Assurance with Waiver of Premium (WOP) Benefits Option 5 – Decreasing Term Assurance Option 6 –Decreasing Term Assurance with Waiver of Premium (WOP) Benefits Option 7 –Return of Premium Option 8 –Return of Premium with Waiver of Premium (WOP) Benefits Plan option once selected cannot be changed during the policy term. Enhance the protection offering with: ABSLI Accidental Death and Disability Rider ABSLI Critical Illness Rider ABSLI Surgical Care Rider ABSLI Hospital Care Rider ABSLI Accidental Death Benefit Rider Plus Plan Options Riders
Aditya Birla Sun Life Insurance Company Ltd
UIN – 109N109V03 ADV/6/20-21/290
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Entry Age (age last birthday) 18 to 65 years (For Plan Option: 1|3|5|7) 18 to 50 years (For Plan Option: 2|4|6|8) Maximum Maturity Age 85 years Premium Paying Term Single Pay | Limited Pay – 6 | 8 | 10 Years | Regular Pay Policy Term Premium Mode Annual | Semi-annual | Quarterly | Monthly Sum Assured (SA) Minimum – Rs. 25,00,000 Maximum – No Limit (subject to underwriting guidelines)
Aditya Birla Sun Life Insurance Company Ltd
UIN – 109N109V03 ADV/6/20-21/290
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Surrender Benefit Plan Options 1 to 6 Regular Pay: Not Applicable Limited Pay: No benefit is payable incase of surrender during PPT. Incase of surrender after PPT provided all premiums are paid, unexpired risk premium will be paid as surrender benefit. Single Pay: Unexpired risk premium will be paid. Options 7 and 8: Regular Pay & Limited Pay : Available after 2 full policy years premiums are paid Single Pay – Available anytime after policy issuance. Revival Benefit Revival: Plan Options 1 to 6 Regular & Limited Pay: Policy will lapse if premium is not paid within the grace period. The policy can be revived within a revival period of five years from the due date of first unpaid premium, subject to the revival conditions mentioned. Plan Options 7 & 8 Regular & Limited Pay: The policy will lapse if premium for 2 full years is not paid. The policy can be revived within a revival period of five years from the due date of first unpaid premium, subject to the revival conditions mentioned. Reduced Paid - Up Plan Options 1 - 6 Regular Pay: Not Applicable Limited Pay: Not Applicable Plan Options: 7 & 8 Min 2 years (No Change) Terminal Illness Benefit will be the reduced paid up benefit applicable at that time. Policy Loan Not Available
Aditya Birla Sun Life Insurance Company Ltd
UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Death Benefit
In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on death less any previously paid Terminal Illness Benefit will be paid to nominee. The policy shall be terminated once the Death Benefit is paid. Sum Assured on Death for regular| limited pay will be highest of - 10 times of the Annualised premium for all ages; or 105% of all the Total Premiums paid as on the date of death; or Absolute amount assured to be paid
Sum Assured on Death for single pay will be highest of - 125% of single premium for all ages; or Absolute amount assured to be paid on death. Annualized premium shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Total Premiums paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes. The absolute amount assured to be paid on death is the Effective Sum Assured as on the date of death. Under Plan Option 1 or 2 or 7 or 8 - The Effective Sum Assured is the sum assured at inception and same will remain constant throughout the policy term. Under Option 3 or 4 - Effective Sum Assured will increase on every policy anniversary. The amount by which the Effective Sum Assured will increase on every policy anniversary is the sum assured at inception multiplied by 5% / 10% p.a. (simple), as chosen by you at inception. Under Option 5 or 6 - The Effective Sum Assured is the sum assured as per the Decreasing Sum Assured Schedule. For Option 1 - Level Term Assurance Option and Option 2 - Level Term Assurance with Waiver of Premium (WOP) benefits, the Effective Sum Assured shall include any change in Sum Assured arising from the exercise of the Enhanced Life Stage Protection option. The nominee also has option to take Staggered payment with fixed annual income or; Staggered payment with increasing annual income @ 5% p.a.
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Enhanced Life stage Protection
Life insured may opt to increase life cover on occurrence of each of the following events without undergoing for any fresh medical examination.
This feature is available only for policy under Plan Option 1 & Option 2, standard life at inception of the policy, regular pay policy and the attained age of life insured is less than or equal to 50 years while exercising this option. This option is not available if Joint Life Protection is opted. Future premiums shall be considered at the premium rate as applicable on the age at inception of the policy. Future premiums shall be increased in proportion of the increase in the sum assured to the sum assured at inception of the policy and will be reflected from the subsequent policy
premium will be decreased at the same time.
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Terminal Illness Benefit
In case you are diagnosed with a Terminal Illness, 50% of the applicable Sum Assured on Death, subject to a maximum of Rs. 2.5 crore will be paid immediately, and all future due premiums are waived off. On subsequent death of the Life Insured during the policy term, the Sum Assured on Death shall be reduced by the amount of Terminal Illness Benefit already paid. Future due premiums are not liable to be paid on their premium due dates. Terminal Illness Benefit shall only be payable on the first diagnosis of any Terminal Illness of the Life Insured during the policy term.
Maturity Benefit
In the event the life insured survives to the end of the policy term, no benefit is payable on maturity except when the Return of Premium Plan Option 7 I 8 is chosen and then the sum of all the premiums (excluding GST, premiums paid towards underwriting extras and/or riders as may be applicable) shall be paid on the policy maturity date and the policy will be terminated thereafter.
Joint Life Protection
Under this option, two lives i.e., you (primary life insured) and your spouse (secondary life insured) are covered under the same policy. The sum assured applicable for your spouse shall be equal to 50% of your applicable sum assured. This option shall only be available where the sum assured of primary life insured is greater than or equal to Rs 5,000,000. You can opt for Joint Life Protection only if Plan Option 1,2, 3 or 4 is chosen. You can opt for this
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Grace Period
If you are unable to pay your premium by the due date, you will be given a grace period of 30 days and during this grace period all coverage under your policy will continue. If Plan Option 1 or 2 or3 or 4 or 5 or 6 is chosen If you do not pay your premium within the grace period, your policy will lapse, and all benefits will cease immediately. If Plan Option 7 or 8 is chosen
will continue on Reduced Paid-up basis.
Reduced Paid-up Benefit
If Plan Option 1 or 2 or 3 or 4 or 5 or 6 is chosen Not applicable If Plan Option 7 or 8 is chosen You may choose to stop paying premiums at any time once all due premiums, for at least two policy years have been paid and continue this policy on a paid-up basis. Under Reduced Paid-Up, your Sum Assured as on the date of Death shall be reduced in proportion to the premiums actually paid to the total premiums payable during the premium paying term.
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Surrender
If Plan Option 1 to 6 is chosen Regular Pay: There is no surrender benefit payable. Limited Pay: Policy will acquire a Surrender Value upon receipt of all premiums up to the end of the premium paying term under the policy. Single pay: Policy will acquire a surrender value immediately after policy issuance. If Plan Option 7 or 8 is chosen Regular & Limited Pay: Policy will acquire a surrender value after all due premiums for at least two years are paid. Single Pay: Immediately after policy issuance.
Policy Loan
There is no loan facility in this plan.
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UIN – 109N109V03 ADV/6/20-21/290
Customer Need : Fixed Sum Assured throughout the tenure
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Life Cover of Rs. 1 crore 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 1 25 Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | Regular Pay| Annualized Premium Rs.10,635/- Plan Option (1) – Level Term Assurance
Life Cover of Rs. 1 crore 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 25 CI /TPD Plan Option 2 Future Premiums Waived
On occurrence of critical illness or disability all future premiums will be waived off
Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | Regular Pay| Annualized Premium Rs.11,080/- Plan Option (2) – Level Term Assurance with WOP Benefits 01
UIN – 109N109V03 ADV/6/20-21/290
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Life Cover of Rs. 1 crore 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 25 Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | 10 Pay| Annualized Premium Rs.25,972/- (FYP incl GST) Customer Need : Fixed Sum Assured throughout the tenure Plan Option (1) Level Term Assurance Customer Need : Fixed Sum Assured throughout the tenure Plan Option (2) Level Term Assurance with WOP Benefits
Life Cover of Rs. 1 crore 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 25 CI /TPD Future Premiums Waived Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | 10 Pay| Annualized Premium Rs.26,255/- (FYP incl GST)
On occurrence of critical illness or disability all future premiums will be waived off
Aditya Birla Sun Life Insurance Company Ltd
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UIN – 109N109V03 ADV/6/20-21/290
Customer Need : Increase in SA to tackle inflation without any change in the premium at inception. Increase can be 5% or 10% p.a. of original SA
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Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | Regular Pay| Increasing Level – 10% p.a. | Annualized Premium Rs.21,230/-
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Plan Option (3)– Increasing Term Assurance Plan Option (3)– Increasing Term Assurance with WOP
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On occurrence of critical illness or disability all future premiums will be waived off 01
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UIN – 109N109V03 ADV/6/20-21/290
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Customer Need : Increase in SA to tackle inflation without any change in the premium at inception. Increase can be 5% p.a. of original SA Plan Option (3) Increasing Term Assurance Customer Need : Increase in SA to tackle inflation without any change in the premium at inception. Increase can be 5% p.a. of original SA Plan Option (4) Increasing Term Assurance with WOP Benefits
Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | 10 Pay| Increasing Level – 5% p.a. | Annualized Premium Rs.41,064/- (FYP incl GST)
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Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | 10 Pay | Increasing Level – 5% p.a. | Annualized Premium Rs. 41,488/- (FYP incl GST)
25 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 CI /TPD Future Premiums Waived
On occurrence of critical illness or disability all future premiums will be waived off
Aditya Birla Sun Life Insurance Company Ltd
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UIN – 109N109V03 ADV/6/20-21/290
Male Age 35 | Non Smoker | Sum Assured - Rs 1 crore | Policy Term 25 years | Regular Pay | Annualized Premium Rs.9,575/- Decreasing Liabilities 100% 95% 90% 85% 70%
lakh 16 25 02 03 04 05 06 07 08 09 10 11 12 13 14 15 17 18 19 20 21 23 24 22 Decreasing Sum Assured
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Customer Need : Sum Assured will decrease over a period as liabilities decrease. Ideal to cover for loan /mortgage borrowers 01
UIN – 109N109V03 ADV/6/20-21/290
On occurrence of critical illness or disability all future premiums will be waived off 25 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 Decreasing Sum Assured Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | Regular Pay| Annualized Premium Rs.9,935/- Future Premiums Waived CI /TPD
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Customer Need : Sum Assured will decrease over a period as liabilities decrease. Ideal to cover for loan /mortgage borrowers 01
UIN – 109N109V03 ADV/6/20-21/290
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Customer Need : Sum Assured will decrease over a period as liabilities decrease. Ideal to cover for loan /mortgage borrowers Plan Option (5) Decreasing Term Assurance Customer Need : Sum Assured will decrease over a period as liabilities decrease. Ideal to cover for loan /mortgage borrowers Plan Option (6) Decreasing Term Assurance with WOP Male Age 35 | Non Smoker | Sum Assured - Rs 1 crore | Policy Term 25 years | 10 Pay | Annualized Premium Rs.22845/- (FYP incl GST) Decreasing Liabilities 100% 95% 90% 85% 70%
16 25 02 03 04 05 06 07 08 09 10 11 12 13 14 15 17 18 19 20 21 23 24 22 Decreasing SA
Aditya Birla Sun Life Insurance Company Ltd
On occurrence of critical illness or disability all future premiums will be waived off 25 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 Decreasing Sum Assured Future Premiums Waived CI /TPD
Male Age 35 | Non Smoker | Sum Assured - Rs 1 crore | Policy Term 25 years | 10 Pay | Annualized Premium Rs.23087/- (FYP incl GST) 01 01
UIN – 109N109V03 ADV/6/20-21/290
Customer Need : Return of premium on Maturity
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Plan Option (7) – Return of Premium (Regular Pay) Male Age 35 | Non Smoker | Sum Assured - Rs 1 crore | Policy Term 25 years | Regular Pay| Annualized Premium Rs.24,900/-
maturity 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 Life Cover of Rs. 1 crore 22 1 25
Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | Regular Pay| Annualized Premium Rs.25,910/- CI /TPD 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 25 Future Premiums Waived On occurrence of critical illness or disability all future premiums will be waived off 01 01
UIN – 109N109V03 ADV/6/20-21/290
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Customer Need : Return of Premium on Maturity Plan Option (7) Return of Premium Customer Need : Return of Premium on Maturity Plan Option (8) Return of Premium with WOP Male Age 35 | Non Smoker | Sum Assured - Rs 1 crore | Policy Term 25 years | 10 Pay| Annualized Premium Rs. 49,815/- (FYP incl GST) 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 Life Cover of Rs. 1 crore 22 25
maturity
Male Age 35 | Non Smoker | SA - Rs 1 crore | PT – 25 years | 10 Pay| Annualized Premium Rs. 50,317 /- (FYP incl GST) CI /TPD 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 23 24 22 25 Future Premiums Waived
Aditya Birla Sun Life Insurance Company Ltd
On occurrence of critical illness or disability all future premiums will be waived off
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Male Age 35 (primary)|Female Age 30 (secondary) | Non Smoker | SA - Rs 2 crore | PT - 25 years | Regular Pay| Plan Option 1 | Annualized Premium Rs.25,970/- Future Premiums are Waived Off
Primary Secondary 4 6 8 10 12 15 18 5 7 9 11 13 16 17 2 3 14 25 . . . . . .
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Male Age 35 (primary)|Female Age 30 (secondary) | Non Smoker | SA - Rs 2 crore | PT - 25 years | Regular Pay| Plan Option 1 | Annualized Premium Rs.25,970/-
Secondary Primary 4 6 8 10 12 15 18 5 7 9 11 13 16 17 19 2 3 14 25 . . . . . 20 Future Premiums are reduced from next policy anniversary to what would have been charged at policy inception for only primary life insured
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
Male Age 35 (primary)|Female Age 30 (secondary) | Non Smoker | Sum Assured - Rs 2 crore | Policy Term - 25 years | Premium Paying Term - Regular Pay| Plan Option 1 |Annualized Premium Rs. 25,970/-
4 6 8 10 12 15 18 5 7 9 11 13 16 17 19 2 3 14 25 . . . . . 20
Primary & Secondary
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd. Automatic increase in Sum Assured I No medicals I Key milestones such as marriage, birth of 2 children I Freedom to reduce Sum Assured to original Sum Assured
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Sum Assured* Increases @ 50% Sum Assured^^ Increases @ 25% Sum Assured ^^ Increases @ 25% Marriage Child 1 Child 2 Sum Assured at Inception
*Subject to maximum of Rs. 50 Lakhs
^^Subject to maximum of Rs. 25 Lakhs
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UIN – 109N109V03 ADV/6/20-21/290
Aditya Birla Sun Life Insurance Company Ltd.
ABSLI Accidental Death Benefit Rider Plus (UIN : 109B023V02) Lump Sum in the event of accidental death
to
ABSLI Accidental Death and Disability Rider (UIN : 109B018V03) Lump Sum in the event of accidental death and percentage of Sum Assured in the event of any disability
to
ABSLI Critical Illness Rider (UIN : 109B019V03) Lump Sum for illnesses including Heart Attack, Cancer, Stroke or Major Organ Transplant ABSLI Hospital Care Rider (UIN : 109B016V03) Daily Hospital Cash Benefit, ICU Benefit and Recuperating Benefit
to
ABSLI Surgical Care Rider (UIN : 109B015V03) Lump Sum for any major surgery involving brain, liver, lung or heart (including coronary arteries) and other surgeries
Insurance cover can be enhanced during the premium paying term by adding any one of the following riders;
Rider Sum Assured cannot exceed the base plan SA Riders are not available for Joint Life Protection Option & Decreasing Term Assurance (Plan Option 5|6). Client can only opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus not both
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UIN – 109N109V03 ADV/6/20-21/290
❑ Tax benefits are subject to changes in tax laws ❑ For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale. ❑ ‘The Trade logo “Aditya Birla Capital” displayed above is owned by Aditya Birla Management Corporation Private Limited (Trademark Owner) and used by ‘Aditya Birla Sun Life Insurance Company Limited’ under the License’ ❑ One Indiabulls Center, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400013,
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Aditya Birla Sun Life Insurance Company Ltd.
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BEWARE OF SPURIOUS / FRAUD PHONE CALLS! ·IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums, Public receiving such phone calls are requested to lodge a police complaint.
UIN – 109N109V03 ADV/6/20-21/290
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