Reliance Investment Plans

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.

List Of Reliance Life Investment Plans

Reliance Nippon Life insurance company offers 17 savings & investment plans. All the plans have their unique benefits.

1. Reliance Nippon Life Guaranteed Money Back Plan

• It is a non-linked, non-participating, and individual savings life insurance plan.
• The policyholder gets guaranteed money back during the last five policy years.
• There are guaranteed loyalty additions provided under the plan. The loyalty addition is up to 40% of the base sum assured.
• On maturity of the policy, guaranteed maturity addition up to 20% of the base sum is provided to the policyholder.
• You get life cover for at least 10 times the annualized premium for the entire policy tenure.
• The plan provides the flexibility of regular pay and limited pay under the premium payment terms.
• The nominee gets a lump sum amount under the death benefits.
• The plans also provide tax benefits.

2. Reliance Nippon Life Increasing Income Insurance Plan

• This is an individual, non-linked, and non-participating savings life insurance plan.
• The insured can avail of tax benefits on the premiums paid under the policy.
• The policyholder can enhance the coverage by adding riders to the plan.
• Premiums can be paid on a yearly, half-yearly, quarterly and monthly basis.
• Under “income with maturity benefit”, the policyholder receives regular monthly income under the plan. This monthly income amount increases every policy year. The policyholder gets a lump-sum amount on maturity.
• Under “only income benefit”, the insured gets a higher monthly income that increases every policy year.
• The insured can enjoy the loan facility on the policy if the surrender value has been acquired.

3. Reliance Nippon Life Increasing Money Back Plan

• It is a savings-cum-investment plan provided by Reliance Life Insurance Company.
• The plan is an individual, non-linked & non-participating life insurance plan.
• In case of the demise of the policyholder, the nominee is paid with the death benefit. The death benefit is higher of :
  • Sum assured on death.
  • 105% of the total premium paid.
• The sum assured on death is the highest of:
  • 11 times the annualized premium, or
  • Absolute amount assured to be paid on death, i.e. base sum assured, or
  • The guaranteed sum assured on maturity.
• The insured can get a loan sanctioned on the policy.
• There is the availability of riders under the plan.
• The policy can be revived within 5 years from the due date of the first unpaid premium. It should be done before the policy maturation.

4. Reliance Nippon Life Super Endowment Plan

• Reliance Nippon Life Super Endowment Plan is a non-linked, non-participating, individual & savings life insurance plan.
• The plan helps you save for the future along with insuring your life.
• It can act as savings for retirement.
• The plan helps you create a corpus to fulfill all your dreams.
• The plan provides base sum assured in case of survival at the maturity of the policy.
• The policy buyers can choose for the policy term option of 14 years or 20 years.
• You can pay the premiums without any income tax applied to it.
• The death benefit is provided to the beneficiary of the policy on the demise of the insured life.
• The premiums can be paid on an annual, semi-annual, quarterly and monthly basis.
• Riders can be applied to this base plan to get extra cover.

5. Reliance Nippon Life Fixed Savings

• The plan is a non-linked and non-participating life insurance plan.
• The plan has been designed for an individual.
• The policyholder gets incremental savings in the first 3 years.
• The policyholder gets tax benefits with the plan.
• Under the survival benefits, fixed regular additions accrue at the start of each policy year.
  • 8% in the first year.
  • 9% in the second year.
  • 10% from the third year onwards.
• On maturity of the policy, the policyholder receives guaranteed sum assured and:

  Guaranteed Sum Assured = (Annualized Premium X Premium Payment term) + Fixed Maturity addition

• The insured gets tax-free returns.
• In case of demise of the insured life, the nominee gets the death benefits which is equal to the maximum of the following:
  • Sum assured on death.
  • 105% of the total premium paid as on the date of death.

6. Reliance Nippon Life Milestone Plan

• The plan has been designed for an individual.
• It is a non-linked, participating & savings life insurance policy.
• Compounded reversionary bonuses are provided under the plan annually.
• In the case of survival of the life insured until the end of the policy term, the policyholder gets the maturity benefits.
• The maturity benefits provided are an aggregate of sum assured on maturity, accrued compounded reversionary bonus and terminal bonus, if any.
• Death benefits are paid off to the beneficiary post-death of the insured.
• Tax exemption benefit is provided on the premium paid as well as the maturity/death benefits provided to the insured and his/her family.

7. Reliance Nippon Life’s Money Multiplier Plan

• It is a non-linked, non-participating & non-variable endowment plan. It helps the insured choose their goals sooner.
• The plan provides guaranteed benefits after the maturity of the policy.
• Guaranteed loyalty additions are offered under the plan at the end of each policy year.
• Guaranteed maturity addition is provided under the plan.
• The plan has multiple policy term options.
• A lapsed policy can be revived by paying the arrears of premiums.

8. Reliance Nippon Life Endowment Plan

• Reliance Nippon Life Endowment Plan is a non-linked, non-variable & participating endowment plan.
• The plan helps the insured create a corpus through systematic savings.
• It provides dual cover to the policyholder as it acts as the investment and also provides life cover.
• The plan can be enhanced by adding riders to it.
• There are flexible premium payment modes. The premiums can be paid on a yearly, half-yearly, quarterly and monthly basis.
• Loan facility is available under the plan.
• The maximum loan available will be equal to 80% of the surrender value subject to a minimum loan of Rs.1,000.
• Premiums paid under Reliance Nippon Life Endowment Plan is exempted from tax under section 80C of the Income Tax Act, 1961.

9. Reliance Nippon Life Super Money Back Plan

• It is a non-linked, non-participating, non-variable & money-back insurance plan.
• Reliance Nippon Life Super Money Back Plan takes care of the insured’s monthly finances.
• One must buy this plan if one wants to boost his/her savings.
• Loyalty addition is payable under the plan at the end of the premium payment term.
• Maturity addition is payable at the end of the policy term.
• Policy buyers get a life cover of at least 10 times the annualized premium for the entire policy year.
• Guaranteed liquidity is provided under the plan.
• The policyholder gets money back at the end of the 5 policy year till maturity from the end of the premium payment term.
• Tax benefits are available under this plan on plan premiums and plan death/maturity benefits.

10. Reliance Nippon Life Smart Cash Plus Plan

• Reliance Nippon Life Smart Cash Plus Plan is a non-linked, participating & non-variable money-back insurance plan.
• The plan gives increasing payouts.
• The premium under the plan can be paid annually, semi-annually, monthly, and quarterly.
• The plan boosts the savings of the policyholder and the insured gets following things on maturity:
  • A maturity benefit equal to the sum assured, or
  • High sum assured additions, or
  • Vested bonuses, if any.
• Under the guaranteed liquidity, the insured gets guaranteed money back benefits every 3 years, starting from the 4th policy year.
• This money-back benefit increases with every payout.
• The revival of the policy can be done within 2 years from the date of the last paid premium. All the due premiums are to be paid to revive the policy.

11. Reliance Nippon Life Bal Nivesh One Time Plan

• It is a non-linked & non-participating single premium plan.
• The plan brings guaranteed returns to the policyholder.
• In case of death of the insured, the sum assured provided to the nominee of the policy is highest of:
  • 10 times single premium, or
  • Absolute amount assured to be paid on death which is equal to the base sum assured, or
  • The guaranteed sum assured on maturity, or
  • The death benefit is subject to 125% of the single premium paid.
• The policyholder can avail of the loan facility under the plan.
• A high sum assured rebate is provided under the plan to the policyholder.
• Accidental riders and permanent disability riders can be chosen under the plan to get extra cover.
• A tax benefit is provided on the paid premiums and death/maturity benefits received.

12. Reliance Nippon Life Whole Life Income Plan

• It is a non-linked, participating & whole life insurance plan.
• It provides assured regular income until 85 years of age.
• The plan has a dual benefit of life insurance cover and regular income benefit.
• Under this plan, the sum assured on death is the highest of:
  • Annualized premium X death benefit multiple; or
  • The base sum assured; or
  • The guaranteed sum assured on maturity.
• Loan facility is available under the plan.
• There are several riders available under the plan which can be bought along with the base plan for extra coverage.
• The plan is available at an affordable premium. This can be helpful to plan your child’s future.

13. Reliance Nippon Life Future Income Plan

• It is a non-linked participating life insurance plan.
• The plan provides its insured with an additional annual income.
• The premiums paid under the plan are exempted from tax under section 80C of the Income Tax Act, 1961.
• The death benefits and maturity benefits received by the policyholder and their family are exempted from tax according to section 10D of the Income Tax Act, 1961.
• Policy buyers can purchase riders in addition to the base plan for the additional coverage in time of need.
• The plan provides easy liquidity of sum.
• The insured under the plan pays a premium for a shorter term and avails benefits for the longer-term.
• The plans provide flexibility to pay premiums for a term of 7 to 12 years.

14. Reliance Nippon Life Fixed Money Back

• It is a non-linked & non-participating savings life insurance plan.
• The plan has been designed for individuals.
• There is a 2 plan option:
  • Option to continue receiving survival benefit
  • Option to continue receiving maturity benefits even in case of the demise of the insured.
• The plan provides fixed money back benefits which are guaranteed during the last four years before maturity.
• The maturity benefit is payable as lump-sum on the completion of the policy term.
• The insured gets the flexibility to choose from 15 years and 20 years of policy term options.
• Tax benefits are provided under the plan.

15. Reliance Nippon Life Bluechip Savings Insurance Plan

• It is a non-linked, non-variable, participating & endowment insurance plan.
• The plan gives a 7% guaranteed addition during the premium payment term with bonuses.
• The plan premiums, as well as death/maturity returns, are tax-free.
• The insured can avail loan on the policy after the surrender value is acquired.
• Riders can be bought with the base plan to get extra coverage.
• In case of survival of the policyholder till the end of the policy term, s/he receives maturity amount.
• The maturity amount is inclusive of the vested reversionary bonuses and terminal bonuses (if any).
• Under the death benefit, the nominee will receive the sum assured which is higher of:
  • Annualized premium X Death Benefit Multiple.
  • Base sum Assured.
  • The guaranteed sum assured on maturity.
• The policyholder can revive the policy within two years from the due date of the first unpaid premium. All the due premium amount is required to be paid to revive the policy.

16. Reliance Nippon Life Prosperity Plus

• It is a unit-linked & non-participating life insurance plan.
• Reliance Nippon Life Prosperity Plus is an individual plan.
• The plan rewards its policyholders for staying invested for a longer time.
• The rewards are also in the form of loyalty additions and maturity additions.
• The policyholder can easily access the accumulated wealth as per his/her needs with the systematic withdrawal option.
• The wealth invested by the policyholder grows with the market-linked returns.
• The plan provides life insurance protection and it also acts as an investment.
• An income tax benefit is provided under the plan.
• No loan facility is provided under the plan.

17. Reliance Nippon Life Lifelong Savings Plan

• Reliance Nippon Life Lifelong Savings Plan is a non-linked, participating & endowment plus whole life insurance plan.
• The plan provides flexibility in premium payment mode. The premium can be paid annually, semi-annually, quarterly, and monthly.
• The premiums paid under the plan are exempted from tax under section 80C of the Income Tax Act, 1961.
• The death benefits and maturity benefit returns are tax-free according to section 10D of the Income Tax Act, 1961.
• The loan facility can be availed of under the plan.
• The revival of a lapsed policy can be done within 2 years from the date of the last paid premium. The lapsed policy can be revived after paying all the due premiums.

Features/Benefits Of Reliance Investment Plan

Few of the common benefits and features of the Reliance Investment plans have been explained below:

1. Free Look Period: A free look period of 15 days is provided to the policyholder. During the free look period, the insured has the full authority to cancel the policy in case of any kind of dissatisfaction with the terms and conditions of the policy.
2. Grace Period: A grace period of 30 days is provided to the policyholders under all the investment plans of Reliance Nippon Life insurance. At times, it happens that you are not able to pay the premium due to other financial commitments or you forget to pay the premium. In such a scenario, the premium can be paid within the grace period. In case of failure, the policy is subject to lapse.
3. Policy Revival: A lapsed policy can be revived within a fixed time duration from the date of the last paid premium. The revival period varies for each savings & investment plan under Reliance Nippon Life insurance. For the plan specific details, you can refer to the plan brochure.
4. Tax Benefit: The premiums paid under the above-mentioned plans are tax-free according to section 80C of the Income Tax Act, 1961. The death benefits and the maturity benefits are also exempted from tax as per section 10D of the Income Tax Act, 1961.
5. Riders Availability: Riders are optional. As life is full of uncertainties, riders should be bought along with the base plan to get extra coverage.
6. Loan Facility: Few of the Reliance investment plans provide loan facilities while few don’t. So, read the policy documents thoroughly before buying the plan. The loan facility can only be availed after the surrender value has been acquired.
7. Death Benefits: Death benefits are provided to the nominee mentioned in the policy in the case of the demise of the insured life.
8. Maturity Benefits: Maturity benefits are provided after the completion of the policy term. If the policyholder outlives the policy term, he gets all the maturity benefits along with accrued bonuses.
9. Tax Benefits: The premiums paid under the Reliance investment plans tax-free as per section 80C of the Income Tax Act, 1961. The maturity benefits and death benefits provided under the plans are also exempted from tax as per section 10D of the Income Tax Act, 1961.

Riders Offered Under Reliance Investment Plans

Reliance Nippon Investment plans offer following riders which can provide add-on coverage to the insured.

1. Reliance Nippon Life Term Life Insurance Benefit Rider: The rider provides the policyholder with additional death benefit and it is dependent on the sum assured opted by the insured.
2. Reliance Nippon Life Major Surgical Benefit Rider: The rider provides a lump-sum amount to the insured in case of required medical surgeries. It is to cover surgical expenses from a list of surgeries mentioned in the brochure of the respective plan.
3. Reliance Nippon Life Critical Conditions Rider: The rider provides coverage in case the insured is detected with some terminal illnesses like cancer, paralysis, heart attack, major organ transplant, etc.
4. Reliance Nippon Life Family Income Benefit Rider: The policyholder gets the monthly benefit of 1% of the sum assured every month under this rider. The benefit under this rider is provided in case of death/ (total and permanent disablement) due to accident/sickness before the maturity of the policy. The benefit is payable from the date of death till the end of the rider policy term or 10 years, whichever is later.
5. Reliance Nippon Life Accidental Death Benefit Rider: In case of the accidental demise of the policyholder, the nominee gets a lump-sum amount equal to the rider sum assured.
6. Reliance Nippon Life Accidental Death and Disability Rider: The rider is beneficial in case the insured meets an accident and becomes permanently disabled. An amount equal to the rider sum assured is paid to the insured in annual installments over the 10 years. The insured also gets waiver off on the future premiums under the base plan.
7. Reliance Nippon Life Accidental Death and Disability Plus Rider: This rider provides a lump-sum equal to rider sum assured in case of the insured’s death due to an accident. In case of total and permanent disability, an amount equal to the rider sum assured shall be payable in equal annual installments for 10 years. The insured also gets a waiver off on future premiums under the base plan.

Exclusion Of Reliance Life Investment Plans

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.