About Reliance Life Insurance Money Multiplier Plan :
Reliance life insurance company introduced one of the new policy that is Reliance Life Insurance’s Money Multiplier Plan.
Key Features :
Double life cover – This plan offers you a life cover of twice the basic sum assured.
Increasing life cover every year – Life cover which increases with time, through guaranteed loyalty additions.
Triple survival benefits (on Maturity) :
Basic sum assured.
Accrued Guaranteed Loyalty Additions.
Guaranteed Maturity Addition.
Longer the commitment, higher the benefits – through an increasing guaranteed loyalty additions every year and guaranteed maturity additions with policy term.
A host of optional rider benefits to enhance protection cover.
Details of Policy :
You pay premium every year during the chosen policy term. On maturity, get
Accrued Guaranteed Loyalty additions and Guaranteed Maturity additions in addition to basic sum assured.
On death, the nominee will get twice the basic sum assured and accured guaranteed loyalty additions.
Minimum age of entry is 18 years and maximum is 65 years as per last birthday.
Minimum age of Maturity is 28 years and maximum is 75 years as per last birthday.
Policy term is 10 years, 15 years and 20 years.
Minimum sum assured is 50,000 and maximum is no limits.
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.
Benefits under this plan :
Life cover benefit.
Maturity benefit.
Rider Benefits :
Reliance New major surgical benefit rider.
Reliance New critical conditions (25) rider.
Reliance Term life insurance benefit rider.
Reliance accidental death and total and permanent disablement rider.
Guaranteed maturity addition.
Guaranteed loyalty addition.
Premium Rates :
for sum assured of Rs.1,00,000
Age / Policy term 25, 10 years 14665, 15 years 11775, 20 years 10520.
Age / Policy term 35, 10 years 14810, 15 years 11965, 20 years 10775.
Age / Policy term 45, 10 years 15375, 15 years 12645, 20 years 11565.
Age / Policy term 55, 10 years 16860, 15 years 14370, 20 years 13620.
Grace Period for payment of premium :
There is a grace period of 30 days from the due date for payment of regular premiums. In case of monthly mode, the grace period is of 15 days.
Avail of a loan against this policy :
Yes Loan is available under this policy up to 80% of the surrender value under basic plan after the policy acquires a surrender value.
Free look Period :
15 days free look period as per policy terms and conditions.
Tax benefits :
As per the In come tax Act 1961, tax deduction under section 80C and the major surgical benefit rider and reliance new critical conditions 25 riders are eligible for tax deduction under section 80D of the act. The benefits under this plan and riders are tax exempted under section 10(10D) of the act.
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 Money Multiplier Plan.
Key Features :
Double life cover – This plan offers you a life cover of twice the basic sum assured.
Increasing life cover every year – Life cover which increases with time, through guaranteed loyalty additions.
Triple survival benefits (on Maturity) :
Basic sum assured.
Accrued Guaranteed Loyalty Additions.
Guaranteed Maturity Addition.
Longer the commitment, higher the benefits – through an increasing guaranteed loyalty additions every year and guaranteed maturity additions with policy term.
A host of optional rider benefits to enhance protection cover.
Details of Policy :
You pay premium every year during the chosen policy term. On maturity, get
Accrued Guaranteed Loyalty additions and Guaranteed Maturity additions in addition to basic sum assured.
On death, the nominee will get twice the basic sum assured and accured guaranteed loyalty additions.
Minimum age of entry is 18 years and maximum is 65 years as per last birthday.
Minimum age of Maturity is 28 years and maximum is 75 years as per last birthday.
Policy term is 10 years, 15 years and 20 years.
Minimum sum assured is 50,000 and maximum is no limits.
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.
Benefits under this plan :
Life cover benefit.
Maturity benefit.
Rider Benefits :
Reliance New major surgical benefit rider.
Reliance New critical conditions (25) rider.
Reliance Term life insurance benefit rider.
Reliance accidental death and total and permanent disablement rider.
Guaranteed maturity addition.
Guaranteed loyalty addition.
Premium Rates :
for sum assured of Rs.1,00,000
Age / Policy term 25, 10 years 14665, 15 years 11775, 20 years 10520.
Age / Policy term 35, 10 years 14810, 15 years 11965, 20 years 10775.
Age / Policy term 45, 10 years 15375, 15 years 12645, 20 years 11565.
Age / Policy term 55, 10 years 16860, 15 years 14370, 20 years 13620.
Grace Period for payment of premium :
There is a grace period of 30 days from the due date for payment of regular premiums. In case of monthly mode, the grace period is of 15 days.
Avail of a loan against this policy :
Yes Loan is available under this policy up to 80% of the surrender value under basic plan after the policy acquires a surrender value.
Free look Period :
15 days free look period as per policy terms and conditions.
Tax benefits :
As per the In come tax Act 1961, tax deduction under section 80C and the major surgical benefit rider and reliance new critical conditions 25 riders are eligible for tax deduction under section 80D of the act. The benefits under this plan and riders are tax exempted under section 10(10D) of the act.
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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