Reliance Life Insurance Classic Plan :
Reliance life insurance company introduced one of the new policy that is Reliance Life Insurance’s Classic Plan. In this plan get the dual benefit of protection and returns. Under this plan the investment risk in the investment portfolio is borne by the policy holders.
Policy Introduction :
This plan works well for people in every stage of your life, from young investors to retrees. This plan also help you plan your finances wisely, cover the risk arising due to loss of life and assumes all the flexibilities required in a financial product.
Classic Plan works :
As a customer you have the liberty to choose between eight fund options. The premium contributions you make, net of premium allocation charges are invested in funds of your choice. The units are allocated depending on the price of units for the funds. The fund value is the total value of units that you hold across all the unit linked funds.
The minimum policy term is 15 years, minimum entry age upto 60 years, 10 years for entry age above 60 years. The maximum policy term is 30 years, under this plan.
The minimum annualized premium is Rs.20,000 under regular premium payment option and Rs.50,000 under single premium. Depending on the entry age, the limits are as follows :
Regular Premium : 7 to 30 times of annualized premium.
Single Premium : 1.1 to 4 times of Single premium.
Top-Up : 110% to 125% of the top up premium, subject to age at the time of payment of top up.
An individual of 7 years to 65 years of age can be insured under this plan.
Death benefits under this plan as per the policy terms and conditions. On survival up to maturity, total fund value is payable.
Policy 1st year 7% allocation charge as a percentage of premium amount. Policy 2st to 4th year 6% allocation charge as a percentage of premium amount. Policy 5th to 10th year 5.50% allocation charge as a percentage of premium amount. Single premium and top up is 2%.
Fund Management charges range from 1.25% to 1.35% per annuam. Policy administration charges, Mortality charges and service tax charges as per the policy terms and conditions.
Benefits available under this plan :
Flexibility to top up to increase investment component, sum assured by 125% of top up premium in the age at payment.
52 free switches available under the plan during any policy year.
Partial withdrawal and surrender allowed after completing five years from the date of commencement of policy.
Free of cost premium redirection to build your investment strategy with future premium into fund options based on your risk capacity.
Systematic Transfer plan with varied equity fund options to take advantage of rupee cost averaging and playing safe with your investment.
Settlement option if your plan maturity proceeds with maturity proceeds in periodic installments within a maximum of 5 years from the date of maturity.
Exchange Option policy holder to transfer policy benefits. Either fully or partially to another plan wherein exchange option is available.
Loan option under this policy plan you will get it loan also after completion of two policy anniversaries provided the policy is inforce.
Optional rider benefits Reliance term life insurance benefit rider, reliance new major surgical benefit rider and reliance new critical conditions 25 riders.
The risk commences immediately after the issuance of the policy.
Investment Option :
Get the power of eight fund options to plan your investment and balance your risk appetite;
New equity fund, new pure equity fund, new infrastructure fund, new energy fund, new mid-cap fund, new corporate bond fund, new money market fund and new gilt fund.
Tax Benefits :
Tax benefits under this plan under section 80C, 80D and 10 10(D) of the Income Tax Act, 1961, subject to conditions.
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 Classic Plan. In this plan get the dual benefit of protection and returns. Under this plan the investment risk in the investment portfolio is borne by the policy holders.
Policy Introduction :
This plan works well for people in every stage of your life, from young investors to retrees. This plan also help you plan your finances wisely, cover the risk arising due to loss of life and assumes all the flexibilities required in a financial product.
Classic Plan works :
As a customer you have the liberty to choose between eight fund options. The premium contributions you make, net of premium allocation charges are invested in funds of your choice. The units are allocated depending on the price of units for the funds. The fund value is the total value of units that you hold across all the unit linked funds.
The minimum policy term is 15 years, minimum entry age upto 60 years, 10 years for entry age above 60 years. The maximum policy term is 30 years, under this plan.
The minimum annualized premium is Rs.20,000 under regular premium payment option and Rs.50,000 under single premium. Depending on the entry age, the limits are as follows :
Regular Premium : 7 to 30 times of annualized premium.
Single Premium : 1.1 to 4 times of Single premium.
Top-Up : 110% to 125% of the top up premium, subject to age at the time of payment of top up.
An individual of 7 years to 65 years of age can be insured under this plan.
Death benefits under this plan as per the policy terms and conditions. On survival up to maturity, total fund value is payable.
Policy 1st year 7% allocation charge as a percentage of premium amount. Policy 2st to 4th year 6% allocation charge as a percentage of premium amount. Policy 5th to 10th year 5.50% allocation charge as a percentage of premium amount. Single premium and top up is 2%.
Fund Management charges range from 1.25% to 1.35% per annuam. Policy administration charges, Mortality charges and service tax charges as per the policy terms and conditions.
Benefits available under this plan :
Flexibility to top up to increase investment component, sum assured by 125% of top up premium in the age at payment.
52 free switches available under the plan during any policy year.
Partial withdrawal and surrender allowed after completing five years from the date of commencement of policy.
Free of cost premium redirection to build your investment strategy with future premium into fund options based on your risk capacity.
Systematic Transfer plan with varied equity fund options to take advantage of rupee cost averaging and playing safe with your investment.
Settlement option if your plan maturity proceeds with maturity proceeds in periodic installments within a maximum of 5 years from the date of maturity.
Exchange Option policy holder to transfer policy benefits. Either fully or partially to another plan wherein exchange option is available.
Loan option under this policy plan you will get it loan also after completion of two policy anniversaries provided the policy is inforce.
Optional rider benefits Reliance term life insurance benefit rider, reliance new major surgical benefit rider and reliance new critical conditions 25 riders.
The risk commences immediately after the issuance of the policy.
Investment Option :
Get the power of eight fund options to plan your investment and balance your risk appetite;
New equity fund, new pure equity fund, new infrastructure fund, new energy fund, new mid-cap fund, new corporate bond fund, new money market fund and new gilt fund.
Tax Benefits :
Tax benefits under this plan under section 80C, 80D and 10 10(D) of the Income Tax Act, 1961, subject to conditions.
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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