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  • Reliance Life Insurance Investments Plans

    Reliance Life Insurance

    From a new house and car to tuition fees and weddings, your savings are one of the primary resources to meet your financial needs. You would not want to run out of funds when you are in need. You only need to make the right investment choices by opting for plans which deliver when it matters most.

    If you have short-term goals, you would do well to aim for liquidity and safety rather than growth. For medium-term goals, you should not only aim for securing your assets but also ensure high-inflation adjusted returns. For long term goals, you can afford more risk and volatility.

    Your choice of plan depends on a lot of factors including your current rate of savings, monthly expenses and savings targets in addition to your specific goals. Several insurance companies including Reliance offer savings plans with several benefits and features.

    Types of Reliance Life Savings Plans

    • Reliance Super Money Back Plan
    • Reliance Guaranteed Money Back Plan
    • Reliance Fixed Savings
    • Reliance Blue chip Savings Insurance Plan
    • Reliance Smart Cash Plus Plan
    • Reliance's Money Multiplier Plan
    • Reliance Endowment Plan
    • Reliance's Super Endowment Plan

    Reliance Super Money Back Plan

    Under this life insurance plan, you get money back benefits at the end of five policy years besides payouts on a monthly basis.

    Benefits
    • Customers get maturity and loyalty additions at the end of the policy and premium payment terms respectively.
    • Customers get life cover 10 times the annualised premium.
    • You can choose to pay premiums yearly, half-yearly quarterly or monthly.
    • You can avail of tax rebate on premiums and benefits.
    Example

    Bhavna, a 35-year-old HR employee, selects a policy term of 20 years with a sum assured of over Rs. 1 lakh and death benefit option. She pays an annual premium. She receives monthly payouts (end of premium payment term), guaranteed money back benefits (end of 5 policy years) and guaranteed maturity addition among others. In the event of her death, her nominee receives a lump sum death benefit.

    Reliance Guaranteed Money Back Plan

    Under this insurance plan, you get life cover 10 times the annualised premium for the entire term. You can also choose to pay regular or limited premium. You get guaranteed money back in the last five policy years.

    Benefits
    • Additional life cover equal to the sum assured for accidental death.
    • Guaranteed maturity addition up to 20% of sum assured.
    • Guaranteed loyalty additions up to 40% of sum assured.
    • All future premiums are waived while guaranteed benefits continue.
    Example

    Ajay, a 30-year-old bank employee opted for a premium payment term of 7 years and sum assured of above Rs 2 lakhs. He receives guaranteed money back during the last five policy years besides guaranteed loyalty additions and maturity additions. In the event of his death, his nominee receives the death benefit.

    Reliance Fixed Savings Plan

    Under this plan, you can build a corpus over a period of time. This plan offers fixed additions which accrue every year besides an additional lump sum at maturity.

    Benefits
    • The accruals are payable on the first day of the last policy year on survival of the life assured.
    • Gets guaranteed sum assured on maturity, which is equal to annualised premium x premium payment term. Fixed maturity addition is equal to maturity factor x annualised premium.
    • In case of the death of the life assured, the nominee will receive the sum assured on death and 105% of all the premiums paid.
    Example

    Satish, a 36-year-old HR employee opts for a certain payment term, policy term and yearly premium. He gets fixed regular additions on premium payment (which differs for the first, second and third policy years). Satish receives the guaranteed sum assured which is equal to annualised premium x premium payment term at maturity.

    Reliance Blue chips saving insurance plan

    Under this plan, you can choose an appropriate life cover. Customers can also avail of simple reversionary bonuses starting from the first policy year.

    Benefits
    • On survival of the life assured, the sum of guaranteed sum assured on maturity and vested reversionary bonuses will be paid.
    • All guaranteed additions applicable at maturity.
    • On death of the life assured, the nominee will receive higher of the sum assured.
    • You can choose death benefit multiple on the basis of age at entry, premium payment term and policy term.
    Example

    Manas, a 35-year-old marketing executive, chooses to pay a certain annual premium for a policy term of 15 years and premium payment term of 7 years. He receives sum of base sum assured, vested reversionary bonuses and accrued guaranteed additions. In the event of his death, his nominee will receive a lump sum amount.

    Reliance Smart Cash Plus Plan

    Under the Reliance Smart Cash Plus Plan, you get guaranteed lump sums periodically. The plan offers benefit of long term savings along with liquidity.

    Benefits
    • Guaranteed money back benefits every 3 years.
    • Increasing money back benefits.
    • Maturity benefit equal to the sum assured.
    • Get life cover 10 times the annualised premium.
    • Get tax benefits on investment and returns.
    Example

    Harsha, a 30-year-old sales executive, opts for a policy term of 19 years and a sum assured of over 2 lakhs. He pays an annual premium. Harsha receives increasing money back benefits every 3 years. In the event of his death, his nominee will receive a lump sum amount.

    Reliance's Money Multiplier Plan

    The plan provides double protection in case of an emergency. It gives you guaranteed sum assured, in addition to guaranteed loyalty additions and guaranteed maturity addition, which increase with the number of years you pay premiums.

    Benefits
    • Get life cover 10 times the annualized premium.
    • Get accrued guaranteed loyalty additions.
    • Choose your policy term for 10,15 or 20 years.
    • Get tax benefits on investment and returns.
    Example

    Sujoy, a 32-year-old IT executive, selects a policy term of 20 Years for a sum assured of above Rs. 2 lakhs. He pays an annual premium. He gets maturity benefits at the end of the policy term. In the event of his death, his nominee will get a lump sum.

    Reliance Endowment Plan

    This plan gives you a big lump sum benefit and adds to your savings and rewards. Customers get lump sum of sum assured on maturity, subject to 100.1% of the total premiums paid.

    Benefits
    • If the event of death of life assured, nominee will receive maximum of 10 times of annualized premium or base sum assured plus vested bonus or 105% of all the premiums paid.
    • Choose a policy term of 10 to 25 years.
    • Get tax benefits on investment and returns.
    Example

    Akshay, a 30-year-old call centre employee, opts for a policy term of 20 years with a sum assured of around Rs. 900. He, therefore, pays an annual premium of around Rs. 50,000 p.a. He receives maturity benefits at the end of the policy term. In the event of his death, his nominee will receive the death benefit including the bonuses.

    Reliance's Super Endowment Plan

    Reliance's Super Endowment Plan provides the benefit of life cover to customers. In the event of the death of the life assured, the nominee will receive a maximum of base sum assured.

    Benefits
    • Get sum assured on maturity of the policy.
    • You can choose your policy term of 14 or 20 years.
    • You can pay limited premium for half of the policy term.
    • Get tax benefits on investment and returns.
    Example

    Suraj, a 33-year-old employee, chooses a policy term of 20 years, sum assured of above Rs. 4 lakh and a premium payment term of 10 years. Suraj pays an annual premium of above Rs. 23,000 p.a. He gets guaranteed maturity benefits. In the event of his death, his nominee will get the sum assured.

    Tips

    The key to savings plan is to start early and plan ahead, which helps you to make optimum use of the power of compound interest. Also, choosing the right savings vehicle is of seminal importance since it depends on several factors such as your saving patterns. Experts suggest keeping your savings in a low-risk savings account. Finally, reviewing your progress periodically will keep you in good stead in that it helps you plan ahead.

    Reliance offers a wide variety of savings insurance plans. Time period (short, medium or long-term), flexibility options, coverage, maturity and death benefits among others are some of the factors which should be considered before zeroing in on a plan. Analyse the features of all the aforementioned plans and choose the one which best suites your requirements.

    Other Reliance Life Insurance Plans

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