Robinhood Insurance Broker Private Limited

Product Info

UIN

121N084V02

Status

Active

Launch Date

26/11/2013

Withdrawn Date

Product Overview

Reliance Guaranteed Money back Plan not only helps you to save for your future but also protects savings in case of any unforeseen eventuality. All future premiums are waived and your family continues to fulfill their dreams, even in your absence.

Product Description

  • Guaranteed Money Back during the last 5 policy years
  • Guaranteed Loyalty Additions up to 40% of Sum Assured
  • Guaranteed Maturity Addition up to 20% of Sum Assured, at maturity of the policy
  • All future premiums are waived and Guaranteed Benefits continue

COMPARE & BUY SIMILAR PLANS

I hereby authorize OneInsure to communicate with me on the given number for my Insurance needs.
I am aware that this authorization will override my registry under NDNC.

THANK YOU!

Unique Features

  • Guaranteed Money Back Benefits as a percentage of Sum Assured will be paid during the last 5 policy years as per the table given below, irrespective of survival of the Life Assured.
  • Life cover of at least 10 times the Annualised Premium for the entire policy term.
  • At the end of the policy term, irrespective of survival of the Life Assured, the following two benefits will be paid. Guaranteed Loyalty Additions and Guaranteed Maturity Additions.

Eligibility Criteria

Eligibility Criteria
Parameters Minimum   Maximum
Age at Entry (Years) 18
(last birthday)
20
Policy Term 15 years 20 years
Age at Entry 58
(last birthday)
55
(last birthday)
Age at Maturity (Years) 33
(last birthday)
75 (last birthday)
Sum Assured (Rs) 50,000 No Limit
Premium Payment Term (Years) Policy Term Age at entry (last
birthday)
Maximum allowed
Premium paying
term (years)
15 years 18-43 Equal to policy term
44-53 10
54-55 7
55-58 5
20 years 18-47 Equal to policy term
48-53 15
54-55 10
Premium payment options Limited Pay/Regular Pay
Premium payment modes Yearly, Half-yearly, Quarterly and Monthly
Policy Term 15 Years 20 Years Money Back Benefits
(as a percentage of Sum Assured)
End of
Policy Year
11 16 15%
12 17 15%
13 18 15%
14 19 15%
15 20 40%
Flexible premium payment modes You have an option to pay the Regular Premium either yearly, half-yearly, quarterly or monthly modes
Quarterly and monthly modes are allowed only if the premiums are paid electronically. 
Mode Rebate
Yearly 5%
Half-yearly 2.5%
Quarterly Nil
Monthly Nil

OneInsure App Benefits

Store Digitally  |  Get Premium Reminders  |  Service and Claim assistances  |  Empower Nominee
Download OneInsure App :

Product Benefit

  • Maturity Benefit - At the end of the policy term, irrespective of survival of the Life Assured, the following two benefits will be paid:
  1. Guaranteed Loyalty Additions - Guaranteed Loyalty Additions of 2% of Sum Assured will accrue at the end of every Policy Year and will be paid on maturity, provided the Policy is not lapsed or surrendered. 
  2. Guaranteed Maturity Addition - Guaranteed Maturity Addition will be paid on maturity provided the Policy is not Paid-up.Addition is expressed as a percentage of Sum Assured and depends on the Policy Term as given in the table below Policy Term (Years) Guaranteed Maturity Addition
  • Death Benefit:- In case of unfortunate demise of the Life Assured during the policy term, provided the policy is in force as on the date of death, the nominee shall receive the following benefits:
  1. Lump Sum Benefit
  2. Waiver of Premium
  3. Continuation of Guaranteed Benefits.

Other Policy Features

Feature Description
Money Back Benefits Guaranteed Money Back Benefits as a percentage of the Sum Assured will be paid during the last 5 policy years as per the table given below, irrespective of survival of the Life Assured.
 
Guaranteed Loyalty Additions Guaranteed Loyalty Additions of 2% of Sum Assured will accrue at the end of every policy year and will be paid on maturity, provided the policy is not lapsed or surrendered. 
Policy Term (Year) Accumulated Guaranteed Loyalty Additions (as a percentage of Sum Assured)
5 10%
10 20%
15 30%
20 40%
 
Guaranteed Maturity Additions Guaranteed Maturity Additions will be paid on maturity provided the policy is not paid-up
Policy Term (Years) Guaranteed Maturity Additions (as a percentage of Sum Assured)
15 15%
20 20%
 
Lump Sum Benefit
In the event of death of the Life Assured (Non–accidental death) Highest of the following amounts is payable: 10 times of the Annualised Premium; or • 105% of all the premiums paid (excluding extra premiums) as on the date of death; or • Sum Assured.
In the event of death of the Life Assured
(Accidental death)
Highest of the following amounts is payable: • 10 times of the Annualised Premium; or • 105% of all the premiums paid (excluding extra premiums) as on the date of death; or • Sum Assured Plus An additional amount equal to the Sum Assured.
Note:- The Death Benefit is payable irrespective of the guaranteed benefits already paid.
 
Waiver of Premium On the death of the Life Assured, all future premiums under the plan will be waived.
 
Continuation of Guaranteed Benefits On the death of the Life Assured during the policy term, provided the policy is in force and all due premiums are paid as on the date of death, the nominee will receive the Money Back Benefits and Maturity Benefits at specified times.
The additional Sum Assured on accidental death (including Sum Assured under Reliance Accidental Death and Total and Permanent Disablement Rider across all policies with Reliance Life) will not exceed Rs 50 lakh.
 
High Sum Assured Rebate
Sum Assured Rebate per Rs. 1,000 Sum Assured
Less than Rs. 1Lac Nil
Rs. 1Lac & above but less than Rs. 2.5Lacs  Rupee 1
Rs. 2.5Lacs & above but less than Rs 5Lacs Rs. 2
Rs. 5Lacs & above but less than Rs. 10Lacs Rs. 3
Rs. 10Lacs & above Rs. 4
 
Premium discontinuance If you discontinue the payment of premiums, your Policy will either lapse or become paid-up as explained below:
 
Lapse If the first annualised premium is not paid in full then the policy lapses at the end of the grace period
For policies with a premium payment term of less than 10 years  If at least the first annualised premium is paid in full and the first two annualised premiums are not paid in full before end of the grace period then the insurance cover, inbuilt accidental death benefit, inbuilt waiver of premium benefit and rider benefits,
If the policy will acquire a Surrender Value which will be payable only after the completion of 3 policy years or at the end of the revival period
For policies with a premium payment term of 10 years or more If 1st premium paid in full and 1st 3 premiums are not paid of before and of the grace period then the insurance cover, inbuilt accidental death benefit, inbuilt waiver of premium benefit and rider benefits. In this case, the policy will acquire a Surrender Value which will be payable only after the completion of 3 policy years or at the end of the revival period,
 
Paid-up
For policies with a premium payment term of less than 10 years - After paying premiums for at least the first 2 full policy years, if the Policyholder discontinues paying further premiums then the policy will acquire a Paid-up status.
 
For policies with a premium payment term of 10 years or more - After paying premiums for at least the first 3 full policy years, if the Policyholder discontinues paying further premiums then the policy will acquire a Paid-up status.
The Sum Assured under the Base Plan will be reduced as given below: Paid-up Sum Assured = Sum Assured x (Number of premiums paid/total number of premiums payable)
 
Revival A policy in a lapsed or Paid-up condition can be revived during the revival period by paying the arrears of premiums along with interest at the prevailing rate of interest.
The current rate of interest is 9% p.a. and is subject to change from time to time.
On revival of the policy, the policy will be eligible for future Guaranteed Loyalty Additions and Guaranteed Maturity Addition.
 The revival of the policy will be subject to satisfactory medical and financial underwriting of the Company.
 
Surrender We understand that there are financial emergencies and to honor such needs we provide the Surrender Value. 
The surrender value will depend on the year of surrender, the policy term and premium paying term chosen.
Acquired surrender value is payable only after completion of first 3 policy years, even if the policy is eligible for surrender and the surrender request is received before completion of 3 policy years.
 
Guaranteed Surrender Value (GSV) Policy will acquire GSV only if first annualised premium have been paid. 
Guaranteed Surrender Value is GSV factor multiplied by the total premiums paid, excluding rider premiums and extra premium paid, if any, less any survival benefits already paid.
The GSV factor can range from 15% to 85% of the premiums paid and is based on number of completed policy years for which the full premiums have been paid and the policy term.
 
Special Surrender Value The Special Surrender Value is an amount equal to the Surrender Value Factor multiplied by the Paid-up Sum Assured.
The Company reserves the right to change the Special Surrender Value Factor from time to time depending on the economic environment, experience and other factors, subject to IRDA approval.
 The details of the current Special Surrender Value Factors one given in the policy document.
Note: The policy will be terminated once it is surrendered and cannot be reinstated.
 
Loan Loan facility is not available under the plan

Add-ons

Accidental Death & Total and Permanent Disablement Rider:- An additional death/disability benefit if death/disability occurs directly as a result of an accident. Waiver of premium benefit under the rider continues in the plan in case of disability

Exclusions

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

Tax benefits will be as per prevailing tax laws. Tax laws are subject to change.

Claim Process

Know claim process of Reliance Guaranteed MoneyBack 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.

BENEFITS OF BUYING FROM ONEINSURE

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.

10
YEARS OF JOURNEY
50,000
HAPPY CUSTOMERS
APP SUPPORT
500+
INSURANCE EXPERTS
7
CITIES
23
OFFICES

That’s a good decision!

By clicking on the “SUBMIT” button, I accept the Terms & Conditions and authorise OneInsure representatives to contact me via Call / SMS / Email

THANK YOU!

A OneInsure representative will call you shortly.

Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
price
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

That’s a good decision!

By clicking on the “SUBMIT” button, I accept the Terms & Conditions and authorise OneInsure representatives to contact me via Call / SMS / Email

THANK YOU!

A OneInsure representative will call you shortly.

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

BUY NOW