Reliance Nippon Life Increasing Income Insurance Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

To keep pace with your growing financial needs of future, it is necessary to ensure a regular income flow. Be it buying your dream vehicle or financing the education of your children, a stable income is an imperative. The Reliance Nippon Increasing Income Insurance Plan helps you meet your financial needs with a guaranteed monthly income that keeps increasing every year. Besides regular income, it also provides long term protection to your family.

Eligibility -Who is the Reliance Nippon Increasing Income Insurance Plan for?

To be eligible for the Reliance Nippon Increasing Income Insurance Plan, the applicant has to meet certain criteria. Refer to the below table for the same:

Sum Assured and Premium Range - What you get and what it costs

The policy allows you to choose between two income options – Income with Maturity Benefit and Only Income. The details of the sum assured and modes of payment are given below:

Plan coverage - What the Reliance Nippon Increasing Income Insurance Plan covers

• The plan offers a guaranteed income, starting from the end of the premium payment term till maturity of the plan.
• The income offered under the plan is equal to 12% of the basic sum assured and it keeps increasing each year at the rate of 3% per annum.
• Reliance Nippon Increasing Income Insurance Plan provides maturity benefits which is two times the basic sum assured.
• If you choose the Only Income Plan, then the income you receive will be 24% of basic sum assured and it will increase at the rate of 6% per annum every year.
• The plan offers you a comprehensive life cover throughout the term.
• It also offers riders to enhance the range of protection.

Exclusions - What the Reliance Nippon Increasing Income Insurance Plan doesn’t cover

In the event of death of the policyholder due to suicide within 12 months of commencement of risk cover, his claimants shall receive death benefits which will be equal to 80% of the premiums paid by the policyholder till death.

Riders/Add-On Plans – Additional coverage under Reliance Nippon Increasing Income Insurance Plan

To increase the level of your protection, Reliance Nippon Increasing Income Insurance Plan offers the following riders:

Other Key Features – Free Look Period, Surrender Values, Grace Period etc.

Some additional features of the Reliance Nippon Increasing Income Insurance Plan are described below:

Tax benefits – How you can save with the Reliance Nippon Increasing Income Insurance Plan

Policyholders can avail tax benefits under Section 10(10D) and Section 80C of the Income Tax Act, 1961. The tax laws are subjected to change from time-to-time and therefore, customers are advised to consult a tax advisor before purchasing the plan.

Other benefits – How you can save with the Reliance Nippon Increasing Income Insurance Plan

The customer portal of Reliance Nippon Life Insurance allows you to view the details of your policy and make premium payments online. It also allows you to renew the policy through the same portal. Customers can make payments using the following channels:

Why you should buy the Increasing Income Insurance Plan from Reliance Nippon?

Reliance Nippon is one of the leading life insurance companies in India with a higher claim settlement ratio. The company has sold over 10 million policies and has a distribution network of 800 branches spanned across the country. The claim settlement ratio of Reliance Nippon Life Insurance as of December 2015 is 94.48%. The company caters to five different segments of life insurance namely, Child Plans, Protection Plans, Retirement Plans, Savings & Investment and Health, and Group Plans. The company is also ranked among the Top Two Most Trusted Private Life Insurers in a survey conducted by Nielsen Brand Equity.