Reliance-Endowment Plan (Regular Premium) not only saves but it also adds to your savings, rewards you with bonuses and gives you a big lump sum amount. This plan let you enjoy your dream holiday with your family or pay off your house loan.
Eligibility Criteria | ||
Age at Entry | 5(last birthday) | 50(last birthday) |
Age at Maturity | 18(last birthday) | 75(last birthday) |
Policy Term ( years) | 10,15,20 and 25 | |
Sum Assured | 65, 261 | Entry age 18 and above |
Entry age 18 years - Rs 5,00,000 | ||
Premium paying option | Regular pay | |
Premium paying modes | Yearly, Half yearly, quarterly and monthly | |
Flexible premium paying mode | Half-yearly | 51% of the yearly premium |
Quarterly | 26% of the yearly premium | |
Monthly | 1/2% of the yearly premium |
Feature | Description | |||||
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Premium Discontinuance | Your policy will either lapse or become paid up | |||||
Lapse | Annualised premium is not paid in full then the policy lapse | |||||
Policy will acquire surrender value which will be payable after 3 policy years | ||||||
If policy not revived at the end of the revival, policy might terminate. | ||||||
Paidup | Paidup SA= SA *(No of premium paid / total no of premium payable) | |||||
Bonus will not reduce, but on being made Paid up the policy will cease to participate in future profits | ||||||
Revival | A policy is lapsed or paidup is reviewed within 2 years from the due date of the 1st unpaid premium before the maturity date. | |||||
The company reserve right to revise the applicable interest rate from time to time. | ||||||
Note:- A paid up policy can be revived during the policy year. | ||||||
Surrender Value | You have option to surrender your policy and receive the surrender value | |||||
Policy will acquire Surrender value provided the 1st annual premium is paid | ||||||
Surrender value is payable after 3 years | ||||||
Guaranteed Surrender value | GSV factor for bonus * Vested bonus | |||||
Note:- GSV shall be equal to GSV factors*Total premium paid (Excluding rider premium and extra premium and frequency loadings for model premiums) |
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Special Surrender value | Special Surrender Value factor*No of premiums paid/No of premiums payable during the policy term | |||||
Note:- If the policy is surrendered, it cannot be reinstated , it will be terminated after surrender. | ||||||
Vested Bonus | Reversionary Compound Bonus is a percentage of Sum Assured declared by the company at the end of each financial year. |
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Tax benefits will be as per prevailing tax laws. Tax laws are subject to change.
Know claim process of Reliance Life Endowment Plan
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.
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