Reliance Life Insurance Money Multiplier Plan is a non-linked non-participating endowment plan. This plan not only provides protection to your family in your absence, but also creates wealth for the ever growing financial support required. This versatile plan combines the security of long-term insurance protection with the growth potential through an increasing Guaranteed Loyalty Additions every year during the policy term and a Guaranteed Maturity Addition at the end of the policy term.
|Age at Entry||18 years||65 years last birthday|
|Age at Maturity||28 years||75 years last birthday|
|Policy Term||10 years / 15 years / 20 years|
|Rs 50,000||No Limit|
|Flexible Premium Payment Modes||You have the option to pay regular premium under yearly, half-yearly, quarterly and monthly mode.|
|Quarterly and Monthly modes are allowed only if premiums are paid electronically.|
|The mode of premium payment can be changed on the policy anniversary.|
|Total Guaranteed Loyalty Additions
accrued at the end of policy term
Accrued at the
end of policy term in Rs
Addition (as a % of
basic sum assured)
(as a % of basic sum
Note : - The policy terminates on payment of maturity benefit
|Life Cover Benefit||In case of an unfortunate death of the life assured before the maturity date|
|1) Double the basic sum assured|
|2) Accrued Guaranteed Loyalty Additions, if any|
|Guaranteed Maturity Addition||Guaranteed Maturity Addition = 1%* Policy Term * Basic Sum Assured|
|Guaranteed Loyalty Addition||The plan pays Guaranteed Loyalty Additions up to 210% of the basic sum assured provided all due premiums are paid in full. Guaranteed Loyalty Additions will get added to the sum assured at the end of each policy year.|
|Guaranteed Loyalty Additions (in the 10th year) = 1%* X* Basic Sum Assured|
|Premium for basic plan||A modal factor of 1.02, 1.04 and 1.06 will be multiplied to the annual premium, for half yearly, quarterly and monthly modes respectively.|
|Note:- The modal factors will not be applicable, if the premiums are paid electronically.|
|Premium for rider benefits||Premium for rider benefits if selected will be collected over and above the premium under Basic Plan.|
|High Sum Assured Rebate|
|Sum assured||Rebate per 1000 Sum Assured|
|Less than Rs 1,00,000||Nil|
|1,00,000 and above but less than Rs 2,50,000||Rs 1|
|Rs 2,50,000 and above but less than Rs 5,00,000||Rs 2|
|Rs 5,00,000 and above but less than Rs 10,00,000||Rs 3|
|Rs 10,00,000 and above||Rs 4|
|Discontinue the policy|
|Surrender the policy:||Your policy acquires a surrender value after three full year premiums have been paid|
|The surrender value is payable only after completion of three policy years.|
|. The surrender value payable is higher of the Guaranteed Surrender Value (GSV) and Special Surrender
Value (SSV). Once the policy is surrendered in full, it cannot be reinstated.
|Guaranteed Surrender Value||We guarantee a minimum surrender value of 30% of the total premiums paid excluding first year premium, rider premiums and extra premium paid,|
|Special Surrender Value||Paid up value payable at maturity = Basic sum assured*(number of premiums paid / total number of premiums payable) plus Accrued Guaranteed Loyalty Additions.|
|Completed policy Years||Policy
|Policy Term 15||Policy
|Discontinue paying premium|
|Lapse||If less than three years' premiums have been paid and should you decide to stop paying further premiums, your policy will lapse at the end of the grace period and Insurance Cover and Rider benefits cease immediately.|
|No benefits will be paid when the policy is in lapsed status. Accrued Guaranteed Loyalty Additions, if any, are not payable for a policy in lapsed status.|
|Paid up||Paid up value payable on death = Twice the basic sum assured * (Number of premiums paid / total number of premiums payable) plus Accrued Guaranteed Loyalty Additions.|
|Paid up value payable on maturity = Basic sum assured* (number of premiums paid / total number of premiums payable) plus Accrued Guaranteed Loyalty Additions.|
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 will be as per prevailing tax laws. Tax laws are subject to change.
Know claim process of Reliance Life Insurance Money Multiplier Paln
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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