Reliance Life Guaranteed Money Back Plan

1. The Reliance Guaranteed Money Back policy also offers rebates on its premiums.

1. The policy offers a grace period of 30 days, if your premium paying modes are yearly, half-yearly and quarterly. The grace period is 15 days for monthly mode policies. .
2. The policy offers guaranteed surrender value (GSV), provided the monthly premiums are paid regularly. 
3. The policy also offers special surrender value. 
4. You cannot take loan against this policy.
5. The policy accepts a minimum sum assured of Rs. 50,000.
6. There is no limit on the maximum sum assured.
7. Once the policy is effective, the sum assured and the policy tenure cannot be changed.
8. You can enjoy a free look period of 15 days, provided your policy is bought manually. But, if you purchase the same policy online, you will receive a 30 day free look period within which you can return your policy.
9. The policy can be revived during the revival period by paying the pending premiums and the interest on delayed premiums as per the current applicable rate of interest.
10. You can surrender the policy at any time and receive surrender benefits. However, the surrender benefits are paid based on the policy term and your premium paying terms. Also, you need to continue the policy for 3 years in order to receive these benefits. 
11. Nomination is allowed under this policy.

Benefits of Reliance Guaranteed Money Back Plan:

The Reliance Guaranteed Money Back plan offers you the following benefits:

1. You can avail tax benefits on your investment and on returns as per the existing income tax laws.
2. Enjoy guaranteed money back benefits during the last 5 policy years.
3. The policy offers up to 40% of the total sum assured as guaranteed loyalty additions.
4. Get up to 20% of the sum assured as guaranteed maturity addition when the polity matures.
5. The policy offers extensive life cover which is 10 time of your annualized premiums for the complete policy term.
6. In case of accidental death, the policy offers additional life cover which is equal to the total sum assured.
7. The policy also offers premium waiver benefits. All future premiums are waived following the death of the policyholder. The guaranteed benefits continue to exist, provided the policy is in force and all premiums are paid till the date of death.

Eligibility Conditions for Reliance Guaranteed Money Back Plan:

How the Reliance Guaranteed Money Back Plan Works?

Mr. Ajay, who is 30 years old, decides to purchase a Reliance Guaranteed Money Back plan. He chooses a policy term of 20 years with a premium paying term of 7 years. He pays an annual premium of Rs. 30,000 and the total sum assured is Rs. 2, 30,840. The plan will offer him the following benefits:

1. Guaranteed loyalty additions.
2. Guaranteed money back benefits in the last 5 policy years.
3. Guaranteed maturity addition at maturity.
4. In case, the policyholder does not survive till the end of the tenure, the nominee will receive the death benefits plus all future premiums will be waived.

In case, Mr. Ajay survives till the end of the policy tenure, he will receive the below mentioned payouts at maturity:

The same policy will offer an amount of Rs. 34, 626 as money back benefit to Mr. Ajay.

In a different scenario, if Mr. Ajay dies in the 5^th policy year, the concerned nominee will receive the following benefits at maturity:

Besides, the nominee will also receive the following benefits:

Premium Payment:

Riders:

The Reliance Guaranteed Money Bank Plan offer additional sum assured on accidental death. However, the additional sum offered by the policy will not exceed Rs. 50, 00,000.

The Reliance Guaranteed Money enables you to fulfil you and your family’s dream by offering guaranteed money back at periodic intervals. The plan not only provides you with steady income, you can also accomplish a wide variety of tasks in life with this plan.