Reliance-Child Plan

Reliance Child Plan is tailor-made for parents who want to see their child grow up to achieve all that their dreams, irrespective of the life’s uncertainties. The plan ensures your child receives the Guaranteed Benefits at key milestones of their life, even in your absence, without the worry of paying any future premiums.

• Receive Guaranteed Benefits, irrespective of survival of the Life Assured.
• Get Tax benefit on the investment and on returns, as per the applicable Income tax laws.
• Choose your Policy term: 10 to 20 years
• All future premiums are waived and Guaranteed Periodic Benefit along with Guaranteed Sum Assured at Maturity continue for your family.

• Reliance Life Child Plan is a traditional Money Back Plan with bonus facility.
• Reliance Life Child Plan provides 25% of the Sum Assured every year in the last 4 years.
• Premiums are waived off in case of death of the life assured.

• Maturity Benefit:- On maturity you get accumulated bonuses irrespective of the survival of the Life Assured.
• Guaranteed Fixed Benefit:- Get 25% of Sum Assured every year on the last four Policy Anniversaries irrespective of the survival of the Life Assured.
• Life Cover Benefit:- In the unfortunate event of loss of life, your Beneficiary will receive the Sum Assured immediately and all future premiums will be waived.

You have the option to add three additional benefits to customize the Policy as per your needs:

• Reliance Accidental Death & Total & Permanent Disablement Rider:
  Accidents are unfortunate and sometimes fatal. You can customise your basic Policy with an Accidental Death Benefit and Total and Permanent Disablement Rider. The Accidental Death Benefit is payable if death occurs directly as a result of an accident and is intimated within 90 days of its occurrence. The Total and Permanent Disablement Benefit is payable if the Life Assured becomes totally and permanently disabled directly as a result of an accident. The Disability Benefit is equal to the basic Sum Assured paid in ten equal annual installments.

• Reliance Critical Illness Rider:
  Sudden onset of a major illness causes worries and heavy expenses. Our optional Critical Conditions Cover helps provide financial relief in such cases. It pays you the Sum Assured upfront in respect of ten major illnesses.
  Example:- Cancer, Coronary Artery Bypass Surgery, Heart Attack, Stroke, etc

• Reliance Life Insurance Family Income Benefit Rider:
  In the event of death or total and permanent disablement of the life assured, this rider provides a benefit of 1% of the rider sum assured every month (i.e.12% per annum), to the beneficiary. 
  When the basic plan is lapsed, surrendered or forfeited, the Reliance Family Income Benefit rider attaching to the basic plan will also terminate immediately.

If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.

Tax Benefits

Tax benefits will be as per section 80C and section 10(10D) of the income tax, 1961

Know claim process of Reliance-Child Plan

Claim Process

Reliance Life Insurance is a part of Reliance Capital of the Reliance Group. Reliance Capital is one of India's leading private sector financial services companies, and ranks among the top private sector financial services and non-banking companies, in terms of net worth. Nippon Life Insurance Company acquired 26% interest in equity share capital of the Company effective October 7, 2011 subsequent to receipt of all regulatory approval.