About Reliance Life Insurance Highest NAV Advantage Plan :
Reliance life insurance company introduced one of the new policy that is Reliance Life Insurance’s Highest NAV Advantage Plan. In this plan is unit linked investment cum insurance plan in which we guarantee that you benefit from the highest NAV (Net Asset Value) per unit ever achieved by your fund during the entire policy term of 15 years.
In essence, even if, on the date of maturity of your policy, the NAV (per unit price) under the fund has declained from the highest it achieved during the period from date of inspection, we will encash your units as at the date of maturity at the highest (NAV (per unit price).
So, you are protected from the typical conditions of the declines in your equity oriented investments under this policy. Highest NAV Guarantee is applicable only at maturity of the policy.
Key Features :
Enjoy the upside we guarantee you get the highest NAV per unit ever achieved during the policy term at maturity.
It provides risk cover on your life.
choose any amount of sum assured desired for your life protection subject to the applicable limits.
Additional risk cover on account of accidental death.
Liquidity through partial withdrawals.
Flexibility to choose from regular or single premium payment options.
Flexiblity to pay top ups.
Liquidity through loans to meet your unforeseen needs.
Enhance protection cover through a host of optional rider benefits.
Exchange option to take advantage of any new plans we may offer in the future.
Tax benefits as per Income Tax Act.
Details of Policy :
Any individual aged between 7 years to 60 years age can be insured under this plan.
Minimum and maximum policy term under the plan. The policy term under this plan is fixed for 15 years.
The minimum annualized premium is Rs.20,000 under regular premium payment option and Rs.50,000 under single premium.
Regular Premium : 7 to 30 times of annualized premium depend on age at entry.
Single Premium : 1.1 to 6 times of Single premium. Depend on age at entry.
Top-Up : 110% to 125% of the top up premium, subject to age at the time of payment of top up.
Death benefits under this plan and top up, plus, fund value under base plan and top up at the date of intimation of death is payable to nominee. amount equivalent to sum assured is payable in addition to the above on account of accidental death.
On survival up to maturity, fund value related to the base plan and top up is paid based on the highest NAV during the tenure of the policy.
Charges :
The Allocation charge are deducted from each premium received. The charges applicable under the plan are as below.
Policy 1st year regular premium 7% allocation charge as a percentage of annualised premium amount. Policy 2st to 4th year regular premium 6% allocation charge as a percentage of annualised premium amount. Policy 5th to 10th year regular premium 5.50% allocation charge as a percentage of annualised premium amount. Policy 11th and onwards regular premium 5.00% allocation charge as a percentage of annualised premium amount. Single premium and top up is 2%.
Fund Management charges for Highest NAV advantage fund range 1.35% per annuam. Policy administration charge, under regular premium policies is not applicable. Under single premium and settlement option, Rs.40 is deducted per month.
Guarantee charges for highest NAV guarantee on maturity of 0.25% per annum of fund value is built into the NAV. Mortality charge will vary depending on the amount of life insurance cover; the attained age of life assured; the occupation of the life assured; the health of the life assured.
Service Tax and Education cess, will be levied on fund management charge, mortality charge and rider premium, if any, at the applicable rate as declared by the government from time to time.
Additional Benefits under this plan :
Liquidity through partial withdrawal and surrender after 5 policy years from the date of commencement of the policy.
Option to take the maturity proceeds in periodic installments within a maximum of 5 years from the date of maturity through settlement option.
Customize the product through Reliance new major surgical benefit rider, reliance new critical conditions
25 rider and reliance term life insurance benefit rider.
If you want to purchase this policy please contact your nearest Reliance Life Insurance Company Limited branch or visit on to www.reliancelife.com or mail to rlife.coustomerservice@relianceada.com.
Reliance life insurance company introduced one of the new policy that is Reliance Life Insurance’s Highest NAV Advantage Plan. In this plan is unit linked investment cum insurance plan in which we guarantee that you benefit from the highest NAV (Net Asset Value) per unit ever achieved by your fund during the entire policy term of 15 years.
In essence, even if, on the date of maturity of your policy, the NAV (per unit price) under the fund has declained from the highest it achieved during the period from date of inspection, we will encash your units as at the date of maturity at the highest (NAV (per unit price).
So, you are protected from the typical conditions of the declines in your equity oriented investments under this policy. Highest NAV Guarantee is applicable only at maturity of the policy.
Key Features :
Enjoy the upside we guarantee you get the highest NAV per unit ever achieved during the policy term at maturity.
It provides risk cover on your life.
choose any amount of sum assured desired for your life protection subject to the applicable limits.
Additional risk cover on account of accidental death.
Liquidity through partial withdrawals.
Flexibility to choose from regular or single premium payment options.
Flexiblity to pay top ups.
Liquidity through loans to meet your unforeseen needs.
Enhance protection cover through a host of optional rider benefits.
Exchange option to take advantage of any new plans we may offer in the future.
Tax benefits as per Income Tax Act.
Details of Policy :
Any individual aged between 7 years to 60 years age can be insured under this plan.
Minimum and maximum policy term under the plan. The policy term under this plan is fixed for 15 years.
The minimum annualized premium is Rs.20,000 under regular premium payment option and Rs.50,000 under single premium.
Regular Premium : 7 to 30 times of annualized premium depend on age at entry.
Single Premium : 1.1 to 6 times of Single premium. Depend on age at entry.
Top-Up : 110% to 125% of the top up premium, subject to age at the time of payment of top up.
Death benefits under this plan and top up, plus, fund value under base plan and top up at the date of intimation of death is payable to nominee. amount equivalent to sum assured is payable in addition to the above on account of accidental death.
On survival up to maturity, fund value related to the base plan and top up is paid based on the highest NAV during the tenure of the policy.
Charges :
The Allocation charge are deducted from each premium received. The charges applicable under the plan are as below.
Policy 1st year regular premium 7% allocation charge as a percentage of annualised premium amount. Policy 2st to 4th year regular premium 6% allocation charge as a percentage of annualised premium amount. Policy 5th to 10th year regular premium 5.50% allocation charge as a percentage of annualised premium amount. Policy 11th and onwards regular premium 5.00% allocation charge as a percentage of annualised premium amount. Single premium and top up is 2%.
Fund Management charges for Highest NAV advantage fund range 1.35% per annuam. Policy administration charge, under regular premium policies is not applicable. Under single premium and settlement option, Rs.40 is deducted per month.
Guarantee charges for highest NAV guarantee on maturity of 0.25% per annum of fund value is built into the NAV. Mortality charge will vary depending on the amount of life insurance cover; the attained age of life assured; the occupation of the life assured; the health of the life assured.
Service Tax and Education cess, will be levied on fund management charge, mortality charge and rider premium, if any, at the applicable rate as declared by the government from time to time.
Additional Benefits under this plan :
Liquidity through partial withdrawal and surrender after 5 policy years from the date of commencement of the policy.
Option to take the maturity proceeds in periodic installments within a maximum of 5 years from the date of maturity through settlement option.
Customize the product through Reliance new major surgical benefit rider, reliance new critical conditions
25 rider and reliance term life insurance benefit rider.
If you want to purchase this policy please contact your nearest Reliance Life Insurance Company Limited branch or visit on to www.reliancelife.com or mail to rlife.coustomerservice@relianceada.com.
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