Reliance Ulip
Reliance Ulip Plans
  • Flexible Payment Options
  • Loyalty & Maturity Additions
  • Tax Benefits Under 80C
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Reliance Ulip Plans

Ulips are a part of saving and investment plans. With the desired life cover, this plan is great at wealth creation. Reliance Life Ulip Plans are designed to offer the dual benefits of insurance cum investment. With the same concept and great features, Reliance Life Insurance has come out with a bunch of Ulips. Let's discuss them in detail:-

Types of Reliance Life Ulip Plans

1. Reliance Nippon Life Smart Savings Insurance Plan

It is a unit-linked insurance product that does not offer any type of liquidity during the initial 5 years of the policy. The plan automatically adjusts with your risk appetite. It allows you to balance equity and debt through a systematic asset allocation strategy which will be based on different life stages. Reliance Nippon Life Smart Savings Insurance Plan makes sure that you have enough savings to fulfill your dreams.

Key Features

  • Multiple Investment Options: The plan allows you to choose between a suitable investment option- self-managed and auto managed.
  • Adequate Protection: It provides the needful financial cover to your family in case of your unfortunate demise. The plan will be active throughout the policy tenure with a life insurance cover. The life insurance cover should be at least seven times the annualized premium.
  • Flexible Payment Options: This Reliance Life Ulip Plan allows you to customize your premium payment options. With it, you can pay a premium for 5, 7, 10 years or entire policy tenure.
  • High Rewards: The plan offers great rewards if you choose a high sum assured. It will also reward you with loyalty additions on choosing longer policy tenure.
  • Wealth Boosters: Reliance Life offers wealth booster with this plan in the form of additional units. They will be added to your policy every year. This feature will start from the end of the sixth policy year until the end of the policy term.
  • Maturity Benefit: The plan offers maturity benefits to customers. In case of survival until the end of the policy tenure, the plan will provide total fund value along with top-up value to the insured person.
  • Switching: If you go with the self-managed option, the plan will allow you to switch amongst the seven funds anytime during the entire policy tenure.

Eligibility

Entry Age5- 60 years
Maturity Age 18-70 years
Top-up premiumMinimum 10000
Premium Payment FrequencyYearly, half-yearly, quarterly and monthly
Minimum premium48000
Maximum premiumNo-limit
Policy Term10-50 years

2. Reliance Nippon Life Prosperity Plus

Reliance Nippon Life Prosperity Plus Plan is designed to enhance your wealth and secure your life. It is a unit-linked, non-participating individual life insurance plan. It does not offer any form of liquidity in the initial 5 years of the agreement. It is an ideal plan that allows you to achieve your goals and protect them from the uncertainties of life.

Key Features

  • Life insurance cover: Apart from the wealth creation feature, this plan offers life insurance for complete protection. It covers your family throughout the policy tenure.
  • Multiple investment choices: The plan comes out with multiple investment options that include the self-managed option, trigger portfolio option, and auto managed option (among others).
  • Withdrawal option: It offers a systematic withdrawal option that assists you to access your accumulated wealth according to your financial requirements.
  • Loyalty and maturity additions: This plan provides a boost to your fund while you stay invested for a long tenure. It will provide loyalty addition every year from the 6th year onwards till maturity.
  • Charge structure: Offers the benefit of no-premium allocation charge and a return on your policy administration charges at maturity.
  • The flexibility of payment: It allows you to customize the premium payment options. With the same, you can pay premiums once or for 5, 10, 15 years or for the entire policy tenure.

Eligibility

Entry Age5- 60 years
Maturity18-70 years
Premium1 lakh to no limit
Top-up premium25000- Up to 100% of base premiums paid
Premium FrequencyYearly, Half-Yearly, Quarterly, and Monthly
Policy term10-20 years

3. Reliance Nippon Life Premier Wealth Insurance Plan

It is a non-linked & non-participating individual life insurance plan. Customers are allowed to customize plans as per their individual needs and can keep up with the changing priorities over time. It comes out with the flexibility to balance the insurance cover and investment requirements during the entire tenure. Reliance Ulip allows customers to plan the whole thing in a systematic manner. With Reliance Nippon Life Premier Wealth Insurance Plan, you can switch between the active and auto-manage style of investing. Under this, customers will get access to your investments in case of emergencies.

Key Features

  • Protection for your family: Along with the wealth creation option, the plan is there to provide much needed financial protection. It provides the needful insurance cover as per your needs.
  • Minimal charges: The plan does not cost huge to your pocket. It comes out with minimal charges only. It also offers wealth boosters every year from the end of the eighth policy year.
  • Multiple investment options: The plan does offer different two fund options- self-managed option and auto managed option. The plan allows you to select as per your choice.
  • Flexible payment options: To make the entire payment process easier, the plan is providing flexible payment options such as Single Pay, Limited Pay or Regular Pay.
  • Partial withdrawals: The company understands the needs of funds in an emergency, thus it ensures that you get the option of partial withdrawals. With it, it makes sure that it will always be there with the required financial assistance.
  • Maturity benefits: In case of survival until the end of the policy tenure, you will be liable to receive maturity benefits. Total Fund Value which is the sum of Base Fund Value and Top-up Fund Value will be payable in the form of maturity benefits.
  • Switching: The plan allows customers to switch among 7 fund options as per their financial priorities and investment outlook.

Eligibility

Entry Age30 days to 60 years
Maturity Age 18- 70 years
Policy Term5 - 30 years
Premium200000- no limit
Top up10000- no limit

4. Reliance Nippon Life Classic Plan II

Reliance Nippon Life Classic Plan II allows customers to invest for the long tenure and even secure this investment against uncertainties. It allows customers to diversify their investment with multiple choice of funds. With this plan, it is easy to switch among available funds. With Reliance Nippon Life Classic Plan II, you will get a life insurance cover that ensures complete family protection.

Key Features

  • Adequate protection: Reliance Nippon Life Classic Plan II is one of the finest products. It offers comprehensive life insurance cover to your family throughout the policy tenure. The plan also offers additional protection against accidental death.
  • Investment flexibility: The plan comes out with 7 funds options and full freedom to choose the one as per your risk appetite. It even allows you to pay the premium payment on Yearly, Half-Yearly or Monthly basis.
  • Easy liquidity: This option is like a relief during hard times. It ensures that you can get the required funds in the hour of need. It allows partial withdrawal to deal with financial emergencies.
  • Maturity benefit: On survival till the end of the policy period, total Fund Value and Top-up Fund Value, if any, will be payable.
  • Systematic transfer plan (STP): This feature comes out with an option to enter into the equity market at different times and at different levels.
  • Premium redirection: With this feature, customers are allowed to receive the Maturity Benefit as a lump sum or as a structured payout using the Settlement Option.

Eligibility

Entry Age7 to 60 years
Policy Tenure15- 30 years
Maturity Age22-75 years
Annual Premium20000 - no limit
Top-up premium5000- no-limit

Why Sail With Reliance Life Ulip Plans?

Right here are some reasons stated why you must choose a Unit-linked Insurance Plan from Reliance Nippon Life Insurance:

  • Multiple Funds Options: Reliance Nippon gives a preference for funds and numerous fund management options. You can buy one that suits you the most. You have the option to change your fund choices whenever you want.
  • Premium Flexibility: You furthermore have options to make a premium payment as per your convenience. You can pay, yearly, regularly or just one lump sum payment.
  • Easy Withdrawals: You can withdraw funds periodically from ULIPs in case you require funds on an urgent basis.
  • Tax Advantages: You are liable to receive tax benefits under Sections 80C of the Income Tax Act.
  • Easy Registration: Getting a policy from Reliance Nippon is simple and convenient. You can buy it online as well. The policies are easy to recognize and feature a whole lot of flexibility and choices which help you to make an informed decision.
  • Easy Claims Process: Reliance ULIPs ensures claims settlement within 2 weeks, subject to proper documentation and verification.
  • Loyalty Benefits: If you stay invested in the Reliance Nippon Life products for the long-term, you may get loyalty additions. This could increase the corpus of the budget available to you for investment and also increase the ratio of the death benefit.

With a comprehensive portfolio that covers a variety of life insurance plans that caters to the monetary desires of people, Reliance Nippon life insurance company makes it particularly easy to find the coverage that perfectly meets your requirements.

Reliance Life Ulip Plans: FAQs

There's no need to post a claim for survival advantages as they're automatically credited to the savings bank account of the policyholder as and when they emerge as due. Maturity benefits, too, are paid to the policyholder on policy maturity, for in-force and paid-up policies.

The frequency of premium payments can be changed at the time of renewal after submitting the duly signed request form.

Fund allocation may be changed at any time simply by submitting a signed request for it at your nearest department. If you wish to make the change online, you can log in to the self-assist portal at the Reliance life insurance website.

Last updated on 19-08-2020