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  • Reliance Life Endowment Plan

    The benefits of saving money on a regular basis is a very good habit. Unfortunately most of us make the decision of savings regularly too late, and time has just slipped away. Reliance Endowment Plan will help you get into the habit of saving, and will also reward you for saving and doing it regularly. The savings plan will help you get your loan finished on your dream home or take your family on a wonderful trip to an exotic destination, or even fund the big wedding of your child.

    This plan from Reliance has the following key features:

    • Premium paying modes - The premiums can be paid only in yearly, half-yearly, quarterly and monthly modes
    • Loan facility - Apply for a loan if you would like with this plan for an amount that will be up to 80% of the surrender value under the base plan. The rate of interest will be charged will be per the current rate 10.50% per annum, these rates can change from time to time based of the economic environment.
    • Grace period - If at any time you are unable to make the payments towards your premium for various reasons, this plan gives you a grace period of 30 days and 15 days if premium is paid monthly, and will continue to be given till the end of the policy term.
    • Free-look - With this plan you can get a free-look period of 15 days to check the terms and conditions, if you disagree with the terms and conditions, the company will refund all premiums paid less any charges due to them.
    • Policy validity - The policy is valid for the chosen policy term and is liable to lapse if premium payment is not done within the provided grace period and its benefits will cease.
    • Revival of policy - Revive your lapsed or fully paid-up policy for its full coverage within two years from the due date of the first unpaid premium but before policy maturity, by paying all outstanding premiums together with the interest, as declared by us from time to time.

    The benefits you receive with the Reliance Endowment plan is:

    • Your money being saved - Get a lump sum of sum assured and vested bonuses on maturity of the policy, subject to 100.1% of the total premiums paid.
    • Your family's protection - In the case wherein the life assured has unfortunately passed away during the term of the policy, the nominee will receive maximum of 10 times of annualized premium or base sum assured plus vested bonus or 105% of all the premiums paid.
    • Policy term - You can choose the policy term you require to suit your needs, choose anywhere from 10 to 25 years as per your convenience.
    • Loan facility - Avail loan facility to meet your financial needs of up to 80% of the surrender value.
    • Tax benefits - Receive tax benefits on your with the investment under the Reliance Endowment plan and on returns, as per applicable income tax laws.

    Eligibility conditions for the Reliance Endowment Plan are:



    Age entry

    Minimum - 5 years

    Maximum - 50 years

    Maturity age

    Minimum - 18 years

    Maximum - 75 years

    Sum assured

    Minimum - Rs. 65, 261


    For entry age above 18 there’s no limit

    For entry age below 18 - Rs. 5, 00, 000

    Premium payment terms in years

    Regular pay - equal to policy

    Policy in terms of years

    10, 15, 20, and 25

    Payment modes

    Annually, half yearly, quarterly and monthly

    How does this plan work?

    Nanjappa, aged 35 years, opts for Reliance Endowment Plan with paying a Regular Premium he chooses a policy term of 20 years, and sum assured amount of Rs. 889,996. He pays an annual premium of Rs. 50,000 p.a. which are exclusive of taxes, for this example let's assume that Nanjappa is in good health and receives Maturity Benefits at the end of the Policy term. In the event of an unfortunate death of Nanjappa, his nominee in this case his wife, will receive a death benefit which includes the bonuses.

    Benefits at maturity

    at 8%

    at 4%

    Received sum assured



    Vested bonuses



    Total benefit



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    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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