Reliance Nippon Life Insurance Company has successfully made its reputable position in the insurance market. It is one of the leading private insurance companies in India. Reliance Nippon Life insurance company has been providing excellent facilities to its policyholders.
There are varieties of insurance plans offered by the Reliance Insurance company. They are investment-cum-protection plans. They provide life insurance to the policyholders as well as act as an investment. Reliance investment plans bring out good returns on maturity. Here we are going to discuss its investment plans.
Reliance Nippon Life insurance company offers 17 savings & investment plans. All the plans have their unique benefits.
|Reliance Investment Plans||Entry Age||Policy Term||Premium (Annual)||Maturity Age(Min/Max)||Sum Assured|
|Reliance Nippon Life Guaranteed Money Back Plan||18 Years||58 Years for a policy term of 15 Years|
55 Years for a policy term of 20 Years
|15 Years to 20 Years||Not mentioned||33 Years/75 Years||Rs.1 Lakh||No limit|
|Reliance Nippon Life Increasing Income Insurance Plan||14 Years||60 Years||12 Years/ 16 Years/ 20 Years/ 24 Years||Rs.15,000||26 Years/80 Years||For entry age up to 44 years - Rs.60,000|
For entry age 45 Years and above - Rs.1 lakh
|Reliance Nippon Life Increasing Money Back Plan||15 Years||55 Years||Limited pay - 7 Years|
Regular pay - 15 Years
|Rs.18,000||30 Years/70 Years||Rs.1 lakh||No limit|
|Reliance Nippon Life Super Endowment Plan||8 Years||60 Years||14 Years and 20 Years||Rs.10,000||22 Years/75 Years||Rs.1 lakh||No limit|
|Reliance Nippon Life Fixed Savings Plan||8 Years||60 Years||12 Years, 15 Years, 20 Years||Rs.25,000||20 Years/8 Years||Not specified||Not specified|
|Reliance Nippon Life Milestone Plan||8 Years||55 Years||10 Years/ 12 Years/ 15 Years/ 20 Years||Rs.50,000||18 Years/ 75 Years||Not specified||Not specified|
|Reliance Nippon Life’s Money Multiplier Plan||18 Years||55 Years||10 Years/ 15 Years/ 20 Years||Not specified||28 Years/75 Years||Rs.60,000||No limit|
|Reliance Nippon Life Endowment Plan||5 Years (Last birthday)||50 Years (last birthday)||10 Years/ 15 Years/ 20 Years/ 25 Years||Not Mentioned||18 Years/75 Years||Rs.65,216||For entry age 18 and above - no limit|
Entry age below 18 years - Rs.50,000
|Reliance Nippon Life Super Money Back Plan||18 Years||55 Years||10 Years/ 20 Years/ 30 Years/ 40 Years/ 50 Years||No specified||28 Years/80 Years||Rs.1 lakh||No limit|
|Reliance Nippon Life Smart Cash Plus Plan||14 Years||55 Years||10 Years/ 13 Years/ 19 Years/ 22 Years||Not mentioned||24 Years/70 Years||Rs.1 lakh||No limit|
|Reliance Nippon Life Bal Nivesh One Time Plan||3 Years||35 Years||15 Years||Rs.49,146||18 Years/50 Years||Rs.1 lakh||No limit|
|Reliance Nippon Life Whole Life Income Plan||0 Years||55 Years||10 Years and 15 Years||Rs.16,328||Not mentioned/ 85 Years||Rs.1 lakh||No limit|
|Reliance Nippon Life Future Income Plan||8 Years||55 Years||14 Years/ 16 Years/ 18 Years/ 20 Years/ 22 Years/ 24 Years||Rs.15,680||22 Years/ 75 Years||Rs.2 lakh||No limit|
|Reliance Nippon Life Fixed Money Back Plan||18 Years||55 Years||15 Years and 20 Years||Rs.9,209||33 Years/ 75 Years||Rs.1 lakh||No limit|
|Reliance Nippon Life Bluechip Savings Insurance Plan||8 Years||60 Year||10 Years to 15 Years||Rs.15,000 onwards. The plan has different premiums for different policy terms and entry age.||18 Years/ 75 Years||Rs.77,905||No limit|
|Reliance Nippon Life Prosperity Plus Plan||1 Years||60 Years||10 Years/ 15 Years/ 20 Years||Regular/ limited pay: Rs.1 lakh|
Single pay: Rs.5 lakh
|18 Years/ 70 Years||Not specified||Not specified|
|Reliance Nippon Life Lifelong Savings Plan||7 Years||55 Years||15 Years to 30 Years||Rs.12,000||22 Years/ 70 Years||Rs.80,000||No limit|
Guaranteed Sum Assured = (Annualized Premium X Premium Payment term) + Fixed Maturity addition
Few of the common benefits and features of the Reliance Investment plans have been explained below:
Reliance Nippon Investment plans offer following riders which can provide add-on coverage to the insured.
Suicide is an exclusion to all the Reliance Life Investment plans. Policy buyers need to refer to the plan brochure for more plan specific details.
The policy can not be surrendered until the surrender value is acquired. In case the plan has a lock-in period, the insured needs to serve the lock-in period and then only s/he can surrender the policy.
You can change the nominee any time after the issuance of the policy. All that you need to do is submit the duly signed nomination form along with the ID proof and attested KYC.
Yes, additions of riders to the base plan leads to an increase in the policy premium.
The premium payment frequency can be changed at the time of policy renewal. A signed request needs to be submitted to the insurance company concerning premium payment frequency change. The changes will be reflected in your account within 2 working days.
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Last updated on 23-06-2020