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Reliance Life Money Multiplier Plan

Reliance Life insurance has always followed a customer centric approach with insurance policies and financial planning services designed to cater to the needs of the customer. The Reliance Money Multiplier is one such financial service that allows a policyholder to secure their future financially and protect their family and loved ones against any unforeseen eventualities. The Reliance Money Multiplier has a long policy term options that enables you to secure a lump sum to meet any financial requirements that may arise in the future allowing you to live life to the fullest.

Key Features:

Below are the key features of the Reliance Money Multiplier Plan:

  • The plan allows for you to acquire a lump sum through guaranteed maturity benefits.
  • The plan also acts as a life insurance and upon death of the policyholder the nominee will receive the death benefit as a lump sum.
  • The plan provides guaranteed loyalty additions which accrue at the end of every policy year and is paid on maturity of the policy
  • The plan allows for loan facility of up to 80% of the surrender value at an interest of 10.50% p.a.
  • The plan has a grace period policy which allows you to make any payment missed on a date within 15 working days if the premium payment is monthly and 30 working days if the premium payment is quarterly, half yearly or yearly.
  • If the policyholder stops making payments after the end of the 3rd policy year they can still avail paid up value benefit at maturity or the nominee will receive paid up value death benefit.
  • Policyholders can revive a lapsed policy provided they pay the arrears with an interest of 9% p.a within 2 years of the last missed date of premium payment and are eligible for future guaranteed loyalty additions and guaranteed maturity additions.


The benefits of Reliance Money Multiplier Plan are below:

  • The policy offers maturity benefits that are equal to the sum assured
  • The policy upon maturity also offers guaranteed loyalty additions. Loyalty additions are credited at the end of every policy year and is added on to the sum assured. Loyalty additions are calculated on the following formula:
    Guaranteed loyalty additions (in year X) = 1% X Sum Assured (year X corresponds to the years for which annualised premium has been paid in full.
  • The plan also provides a guaranteed maturity benefit which is calculated as:
    Guaranteed Maturity Benefit = 1% X Policy Term X Sum Assured.
  • The plan provides for death benefit where the nominee will receive a lump sum equal to 200% the sum assured plus accrued loyalty additions if any upon death of the life assured provided the policy is still in effect.
  • The money paid as premiums toward Reliance Money Multiplier Plus are applicable for tax deductions.
  • If the first annualised premium is completely paid in full and the policy is surrendered before the completion of 3 policy years, the policyholder is eligible to receive surrender benefits that will be paid out after the completion of the 3 policy years.


Below are the criteria for eligibility for Reliance Money Multiplier Plan:




Age to acquire the policy

The minimum age for entry is 18 years as at last birthday

The maximum age for entry is 55 years as at last birthday

Age at when policy reaches maturity

The policy should reach maturity when policyholder acquires minimum age of 24 years as at last birthday

The policy should reach maturity when policyholder acquires maximum age of 75 years as at last birthday

Sum Assured

RS 60,000 is the minimum sum assured

There is no limit on the maximum sum assured

The other criteria are as follows:

  • The term of the policy can be 10 years, 15 years or 20 years
  • The premium payment is regular and the term of premium payment is equal to the policy term.
  • The modes of premium payment are monthly, quarterly half yearly and yearly

How the Plan works?

Let us assume Mr Vivek aged 30 years opts for a Reliance Money Multiplier plan for a policy term of 20 years. Mr Vivek selects a premium payment term of 20 years with RS 30,000 per annum as his annual premium. The Sum assured will be RS 2,88,462. Upon the maturity of the policy, Mr Vivek will receive a guaranteed maturity benefit equal to the sum assured (RS 2,88,462) along with accrued guaranteed loyalty additions at the end of every year. In this case since the term of the policy is 20 years and assuming Mr Vivek has been paying the full premium of RS 30,000 every year, the loyalty additions will be 1% at the end of the first year, 2% at the end of the second year and so on till it reaches 20% at the end of the 20th policy year. The accumulated loyalty additions is 210% at the end of 20 years and amounts to RS 6,05,769. mr Vivek will also guaranteed maturity addition of 1% X Sum Assured X policy Term which in this case amounts to RS 57,962. Therefore Mr Vivek will receive a combined total of 9,51,293 at the end of 20 years. In the unfortunate event of Mr Vivek's death the nominee will receive the lump sum as death benefit.

If Mr Vivek dies during the 10th policy year, the death benefit is 200% the sum assured plus loyalty additions for 10 years. In this case the death benefit will amount to RS 5,76,923 (200% of sum assured) plus RS 1,29,808 (1% addition of sum assured every year or 55% accumulated addition of sum assured for 10 years).

Therefore the nominee will receive RS 7,06,731 if Mr Vivek dies during the 10th policy year.

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

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