Reliance Life Smart Cash Plus Plan

Reliance Life Insurance is one of the country's leading insurance and . The Reliance Smart Cash Plan is a policy that allows you to enjoy guaranteed lump sums of money at regular intervals. It provides the right balance between savings and liquidity. The guaranteed sums at periodic intervals provides you with financial security to take care of your family and your business.

Key Features:

Below are the key features of :

  1. The plan will provide periodic lump sums coupled with high sum assured additions allowing you to enjoy life to the fullest.
  2. Provides hassle free life insurance with the added amenity of liquidity.
  3. Flexible modes of premium payment where one can pay premiums monthly, quarterly, half yearly or yearly.
  4. The plan allows for a grace period in case of missed premium payments. The grace period for monthly premium payments is 15 days. The grace period for quarterly, half yearly and yearly payments are 30 days.
  5. The plan provides an option to revive a lapsed policy within 2 years from the date of the last unpaid premium but before the maturity date of the policy. The policy is revived when the arrears are paid with an interest of 10.50% p.a.
  6. The policy also has a range of other benefits such as death benefit, surrender benefit and maturity benefit.
  7. Avail loan facility at 10.50% p.a for up to 80% of the surrender value under the base plan.


Below are the benefits of Reliance Smart Cash Plus Plan:

  1. Avail applicable income tax benefits on the investments made via premium payments and on the returns.
  2. Provide financial security for your family by receiving a life insurance policy 10 times the annualised premium for the policy term.
  3. If policyholder is living at end of the policy term, get guaranteed lump sums at the end of the 4th policy year and at the end of every three years thereafter.
  4. Maturity benefit: at the end of the policy term get a maturity benefit equal to that of the base sum assured. High sum assured additions will be paid where applicable. If the base sum assured is less than 2.5 lakh no high sum assured addition is added. If the sum is between 2.5 lakhs and above, high sum addition is provided.
  5. Death Benefit: Upon the policyholder's death, provided the policy is still in effect, the nominee will receive the death benefit and the policy will be terminated.
  6. Surrender benefit: The policy allows for a surrender benefit. The policy acquires a surrender value provided the first annualised premium has been paid and the policy is surrendered before the completion of 3 policy years. If the policy is surrendered within the 3 policy years, the surrender value will be paid out after the completion of 3 policy years.


Below are the eligibility criteria for Reliance Smart Cash Plus:




Sum Assured

Minimum sum assured is RS 1,00,000

There is no maximum limit

Entry Age

Minimum entry age is 14 as at last birthday

Maximum age is 55 as at last birthday

Maturity age

Policy can mature at minimum 24 years of age as at last birthday

Policy can mature at maximum 70 years of age as at last birthday

The other criteria are as follows:

  • The policy term for Reliance Smart Cash Plus is 10 years, 13 years, 16 years, 19 years and 22 years.
  • The premium payment term annually is equal to the policy term.
  • The premium modes of payment are monthly, quarterly half yearly and annually.

How this plan works?

Let us assume Mr Sandeep opts for Reliance Smart Cash plan at the age of 30 years. He chooses the policy term for 19 years and the sum assured amount is RS 2,85,361. He makes an annual premium payment of RS 30,000 every year for 19 years (policy term). Mr Sandeep will enjoy guaranteed money back returns starting at the end of the 4th policy year and every 3 years thereafter. Mr Sandeep recieves 10% of the money of the sum assured at the end of the 4th policy year which amounts to RS 28, 536. at the end of the 7th policy year he receives 15% of the sum assured amounting to RS 42, 804, 20% or RS 57, 072 at the end of the 10th policy term, 25% or RS 71, 340 at the end of the 13th policy year and 30% or RS 85,608 at the end of the 16th policy year. On the end of the 19th policy year the policy matures and he gets his guaranteed benefits of the assured sum of RS 2,85,361 and a high sum assured addition of RS 28,536.

In the unfortunate event that Mr Sandeep dies during the policy term then the nominee will get a lump sum as death benefit. In case the benefits received through lump sums, high sum assured additions and any vested bonuses is lower than the amount of premiums paid the deficit will be payed through guaranteed addition.

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