Robinhood Insurance Broker Private Limited

Product Info





Launch Date


Withdrawn Date


Product Overview

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.

Product Description

  • 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.


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Unique Features

  • 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.

Eligibility Criteria

Eligibility Criteria
Parameters Minimum Maximum
Age at Entry (Years) 20 (last birthday) 60 (last birthday)
Age at Maturity (Years) 25 (last birthday) 70 (last birthday)
Sum Assured (Rs.) Rs. 25000 No Limit subject to Company’s Board approved underwriting policy
Policy Term (Years) 5 years 20 years
Premium Payment Term (Years) Equal to policy term
Premium Payment Frequency Yearly, Half-yearly, Quarterly and Monthly

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Product Benefit

  • 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.

Other Policy Features

Feature Description
 Bonuses Simple Reversionary Bonus
The policy participates in the Company’s profits by way of simple reversionary bonuses that are usually declared by the Company at the end of every financial year. The amount of reversionary bonus is added to your Policy benefit as a proportion of the Sum Assured, provided the policy is in force. The reversionary bonus for a year, once declared and credited to your Policy, becomes a Guaranteed Benefit.
Waiver of Premium Benefit In the event of unfortunate loss of life, your child is completely protected. The Company waives the entire future premium apart from paying the Sum Assured to the Beneficiary. 
In additions all the Fixed Benefits are paid as and when due. Bonuses will remain attached to your Policy and are payable at maturity.
Loan The Policy Loan can be up to a maximum of 90% of the Surrender Value of the Policy at the time of taking the loan based on the terms
and conditions at that time. 
The interest will be charged on any outstanding loan at a rate of interest set by us, from time to time.
High Sum Assured Rebate Sum Assured Range High Sum Assured Rebate
RS.  Rs 1,00,000 - RS.  2,49,000 RS.  1 per 1,000 Sum Assured
RS.  2,50,000 - RS.  4,99,000 RS.  2 per 1,000 Sum Assured
RS.  5,00,000 - RS.  9,99,000 RS.  3 per 1,000 Sum Assured
9,99,000 RS.  3 per 1,000 Sum Assured RS.  4 per 1,000 Sum Assured
Discontinue paying premium During the first three years, if premiums are not paid within
the grace period the Policy will lapse.
If the premium is not paid in the 1st three years, then the policy will be made Paid up. Apart from that the Sum Assured will be reduced from the original amount, according to the policy term and the amount of periodic lump sum payments already paid.      
You will receive the 'Paid-up' Sum Assured in the event of loss of life.
On maturity, the accumulated bonuses up to the date of 'Paid-up' are paid.
Policy Discontinue You have the option of surrendering the policy and receive the Surrender Value
Plan acquires a Surrender Value after three years premium has been paid and after three years have elapsed from date of commencement of Policy.
We guarantee a minimum Surrender Value of 30% of the total premiums paid (excluding any extra premiums and premiums for
additional benefits) subsequent to the first year premium, less the total of any periodic lump sum Fixed Benefits already paid under this Policy.
On surrender, the insurance protection provided under the Policy will also cease.
Lapse A lapsed Policy can be reinstated for full Benefits anytime before the date of maturity at terms and conditions required by the Company.


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

Claim Process

Know claim process of Reliance-Child Plan

Claim Process

Company Overview

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.


OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.


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burger₹ 700
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Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

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Get ₹. 50 Lakhs
on retirment by saving
₹. 3,900/ Month.