The Reliance Fixed Money Back plan is a money back plan that offers fixed lump sum amounts at the end of every 5 policy years. The plan can also be used as a savings plan to save for your future.
This is a non-linked and non-participating life insurance plan offered by Reliance Fixed Money. The plan is particularly designed to meet retirement needs.
The payouts received from the policy can be used for funding your children’s education, paying off your debts, arranging vacation and purchasing gifts or your near and dear ones.
The Reliance Fixed Money Back Plan comes with the following key features:
The Reliance Fixed Money Back plan offers the following benefits:
Entry age | Minimum: 18 years Maximum: 55 years |
Maturity Age | Minimum: 33 years Maximum: 75 years |
For example, you decide to purchase a and your current age is 30 years. You have taken the policy for 20 years and choose Survival Benefit Option B and Death Benefit Option 10X. Your premium payment term is 10 years and the basic sum assured is Rs.4, 00,000. And you pay an amount of Rs.38, 556 as annual premium. Now, the policy will offer you fixed money back benefits along with accrued fixed loyalty additions and fixed maturity addition at maturity.
If you survive till the end of policy tenure, you will receive the following benefits at maturity:
Benefits at Maturity | Amount |
Fixed money back benefits | Rs. 1,60,000. |
Fixed loyalty additions ( 40% of the sum assured) | Rs, 1,60,000. |
Fixed maturity addition ( 20% of the sum assured) | Rs. 80,000. |
Total maturity benefit received | Rs. 4,00,000. |
Apart from the above-mentioned benefits, you will receive a total benefit of 160% of the sum assured in the policy tenure and fixed money back of Rs. 60,000 every year which is 15% of the total sum assured.
In case, you don’t survive till the end of your policy, the designated nominee you receive the following maturity benefits:
Benefits at Maturity | Amount |
Fixed money back benefits | Rs. 1,60,000. |
Fixed loyalty additions ( 40% of the sum assured) | Rs, 1,60,000. |
Fixed maturity addition ( 20% of the sum assured) | Rs. 80,000. |
Total maturity benefit received | Rs. 4,00,000. |
The nominee will also receive a lump sum amount of Rs. 4,00,000 and fixed money back benefit of Rs. 60,000 plus all his/her future premiums will be waived.
Premium paying terms | 5, 7, 10. |
Premium paying option | Limited Pay |
Premium paying modes | Half-yearly, quarterly, monthly and yearly. |
The following riders are available under the Reliance Fixed Money Back plan:
Riders | Benefits |
Reliance Major Surgical benefit Rider (UIN: 121B014V02) : | It helps you cover surgical expenses by providing you a lump sum amount. You can choose from a list of 33 surgeries. |
Reliance Critical Conditions (25) Rider (UIN: 121B012V02) : | You can take care of 25 critical conditions such as heart attack, cancer etc. with this rider. |
Reliance Family Income Benefit Rider (UIN: 121B015V02): | A monthly benefit of 1% of the total sum assured is offered under this rider. |
Reliance Accidental Death and Total and Permanent Disablement Rider (Regular Premium) (UIN: 121B001V02): | It offers additional death benefits, provided death is caused by an accident. It also comes with premium waiver benefits. |
Reliance Accidental Death and Total and Permanent Disablement Rider (Limited Premium) (UIN: 121B002V02): | It provides additional death benefits, in case death is caused by an ancient. You can avail premium waiver benefits with this rider. |
Reliance Term Life Insurance Benefit Rider (UIN: 121B009V02): | You can receive additional death benefits with this rider. |
The Reliance Fixed Money Back Plan is a must, if you want to safeguard you and your families against unforeseen circumstances.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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