The Reliance Increasing Income Insurance plan is a non-linked and non-participating life insurance plan. The plan provides guaranteed monthly income which increases every year so that you can meet your growing financial needs. With the help of this plan, you can to you and your family, protect yourself against rising cost and fulfill your dreams.
The comes with the following key features:
The Reliance Increasing Income Insurance plan comes with the following major benefits:
Entry age | Minimum: 14 Maximum: 60 |
Maturity age | Minimum: 60 Maximum: 80 |
In order to understand how the plan works, let’s take an example. Mr. Anjan opts for a Reliance Increasing Income Insurance Plan and he is 30 years old. And he selects the option of “Income with Maturity Benefit”. The policy term chosen by him is 24 years and the total sum assured is Rs. 1, 00,000. Assuming that he is in good health, he pays an annual premium of Rs. 22,966 per year. Then, Mr. Anjan will receive the following benefits, provided he survives till maturity:
Maturity benefits | Rs. 2,00,000 ( 2 times of the basic sum assured) |
Increasing Income benefit | Rs. 12,000 in the 13th policy year which increases by 3% in the succeeding years. |
In case, Mr. Anjan dies within the policy tenure, his nominee will receive a receives a lump sum amount of Rs. 2, 29,660 and the policy gets closed.
Premium Payment
Annual premium | Minimum: Rs.15,000. Maximum: No limit. |
Premium paying terms(PPT) | Half of the chosen policy tenure. |
Premium paying modes | Monthly, quarterly, half-yearly and yearly basis. |
The Reliance Increasing Income Insurance plan offers the following riders:
Riders | Benefits |
Reliance Rider (UIN: 121B009V02): | It provides additional death benefits. |
Reliance Major Surgical benefit Rider (UIN: 121B014V02) : | It provides a lump sum amount to cover surgical expenses. You can choose from a list of 33 surgeries. |
Reliance Major Surgical benefit Rider (UIN: 121B014V02) : Reliance Critical Conditions (25) Rider (UIN: 121B012V02) : | With this rider, you can take care of 25 critical conditions such as heart attack, cancer etc. |
Reliance Family Income Benefit Rider (UIN: 121B015V02): | It offers a monthly benefit of 1% of the total sum assured. |
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. You can also enjoy premium waiver benefits under this rider. |
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. This rider comes with premium waiver benefits. |
The Reliance Increasing Income Insurance Plan can be your best companion to meet you and your family’s emergency financial needs and save for your future needs.
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