Saturday, 3 December 2011

Reliance Life Insurance Money Multiplier Plan

Reliance Life Insurance Money Multiplier Plan is an endowment plan from Reliance life insurance. It is a non linked non participating endowment plan which provides financial protection to the family of the insured while the death of insured happened within the policy term and allows growing your money to satisfy your financial goals. It gives long-term life coverage and growth of your money through guaranteed annual loyalty addition and guaranteed maturity addition.

Benefits of the Reliance life plan


Reliance life insurance money multiplier plan gives both long-term life coverage and growth of your money through

(1) Double life cover which provides two times of the basic sum assured as life cover to the nominee of the insured while the death of the insured occurred during the policy term.

(2) Annually increasing life cover allows the life cover increases through guaranteed loyalty addition and

(3) Three times survival benefit on maturity which includes the basic sum assured, accrued guaranteed loyalty addition and guaranteed maturity addition which considered as the maturity benefit of Reliance life insurance money multiplier plan.

Tax exemption: The annual premium  exempted from income tax under section 80C of the present income tax rule which gives a total exemption of Rs. 100000/-

Minimum & maximum sum assured: The minimum sum assured is Rs. 50000 and there is not maximum limit for sum assured.

Term of the policy: The Reliance life insurance money multiplier plan is available for 10 years, 15 years and 20 years term.

Premium payment term: The premium payment term of the reliance life insurance plan is same as the term of the policy, which means you have to pay premium for 15 years for a policy of 15 years.

Minimum and maximum age: The minimum age of entry is 18 years and maximum age of entry is 65 years for the reliance life plan. The minimum maturity year is 28 years and the maximum maturity year is 75 years.

Premium payment mode: The premium payment mode of the reliance life insurance money multiplier plan is annually,half-yearly, quarterly and monthly. There is no single premium payment is for this reliance life policy. Quarterly and Monthly premium payment mode is through ECS payment.

Riders for Reliance life insurance money multiplier plan: The following riders are available for the reliance life insurance plan: (1) Reliance New Critical Conditions (25) Rider, (2) Reliance New Critical Conditions(25) Rider Premium Rates, (3) Reliance New Major Surgical Benefit Rider, (4) Reliance New Major Surgical Benefit Rider Premium Rates, (5) Reliance Term Life Insurance Benefit Rider, (6) Reliance Term Life Insurance Benefit Rider Premium Rates, (7) Reliance Accidental Death & Total And Permanent Disablement Rider, (8) Premium rate for Reliance Accidental Death and Total and Permanent Disablement Rider, (9) Reliance Life Insurance Family Income Benefit Rider, (10) Reliance Life Insurance Family Income Benefit Rider Premium rates

Premium Amount: Following table shows the premium payment for a basic sum assured of Rs. 100000 for different age of entry for the policy terms of 10 years 15 years and 20 years.


























































Age



10 Yrs



20 yrs



30 yrs



18



14640



11740



10465



20



14650



11745



10480



25



14665



11775



10520



30



14700



11830



10600



40



15010



12220



11075



50



15970



13320



12355



60



18315



16155



65



20970



You can avail loan against the policy as per the rules and regulations of the Reliance life insurance. If you wish to join the policy we strongly recommend reading more about the policy from the official website of reliance life insurance Company.

Reliance Life Insurance Money Multiplier Plan


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3 comments :

  1. Insurance and growth of investment. A good scheme.

    ReplyDelete
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