Reliance nippon Lifelong Savings Plan is a non-linked insurance cum savings plan, based on endowment participation. The plan comes with two options - Standard cover and Extended Life cover. The Extended Life cover allows a policyholder to opt for whole life cover and be secure for the rest of their life.
Listed below are the various eligibility factors that you must meet to purchase Reliance Nippon Life Lifelong Savings Plan:
|Minimum age at entry||7 years|
|Maximum age at entry||55 years|
|Minimum age at maturity||22 years|
|Maximum age at maturity||70 years|
|Minimum policy term||15 years|
|Maximum policy term||30 years|
Sum Assured and Premium Range - What you get and what it costs
Sum Assured: The Sum Assured in Reliance Nippon Life Lifelong Savings Plan can be as low as Rs.80,000 and as high as one desires, depending on the premium amount one is willing to spend.
|Minimum Basic Sum Assured||Rs.80,000.|
|Maximum Basic Sum Assured||No limit.|
Premium Range: As the Sum Assured can be an unlimited sum, so can be the Premium amount, with the minimum being Rs.12,000 p.a. The plan comes with Regular Pay and Limited Pay options, along with the flexibility to choose from 4 different Premium Payment Modes.
|Premium Payment Term (PPT)||For 7 years to 50 years old:
|Premium Payment Modes||Monthly, Quarterly, Half-yearly and Yearly.|
|Minimum Annual Premium||Rs.12,000.|
|Maximum Annual Premium||No limit.|
*Premiums vary based on age, location, plan term, and other factors.
Reliance Nippon Life Lifelong Savings Plan provides the following coverage to the life insured under this plan:
|Standard Cover||Extended Cover|
|Upto 50 years||More than 51 years|
|A||10 x AP||10 x AP||7 x AP|
|B||Guaranteed Benefit on Maturity||Guaranteed Benefit on Maturity||Guaranteed Benefit on Maturity|
|C||Basic Sum Assured||Basic Sum Assured||Basic Sum Assured|
Riders - Additional coverage under the plan
Get enhanced protection by adding an Reliance Nippon Life Insurance Rider to your base policy, Life Lifelong Savings Plan. Reliance Nippon offers the following riders with this plan:
|Reliance Term Life Insurance Benefit Rider||This is a unique rider, as in it provides the policyholder with additional death benefits dependent upon the amount of Sum Assured selected under this rider.|
|Reliance Major Surgical Benefit Rider||This rider gives the policyholder a lump sum amount in case he/she is undergoing any of the 33 critical surgeries the rider covers, including kidney transplant, heart surgery, etc.|
|Reliance Critical Conditions (25) Rider||This rider gives the policyholder a lump sum amount on being diagnosed of any of the 25 critical illness covered under this rider, including heart attack, cancer, etc.|
|Reliance Family Income Benefit Rider||This rider provides a benefit of 1% every month, or 12% p.a. on the Sum Assured from the day of death of the policyholder till end of the rider term or 10 years, whichever later.|
|Reliance Accidental Death Benefit and Total and Permanent Disablement Rider||This rider offers additional death and disability benefit if the said event occurred due to an accident.|
If the policyholder commits suicide for any reason within a year of commencement of the policy, the following would occur:
Other key features
Following are other key features of Reliance Nippon Life Lifelong Savings Plan:
Under Reliance Nippon Life Lifelong Savings Plan, you can get guaranteed tax benefits on premiums paid and maturity proceeds:
There are several other benefits of purchasing life insurance plans from Reliance Nippon Insurance such as:
|Customer Service||For all your insurance related queries, call toll-free number 1800 3000 8181 or place a request for call back from a customer care representative.|
|Online Application||You can easily purchase an insurance policy online by filling up an application form on the company website.|
|Claims||Your claim will be processed within 12 working days. For any clarifications regarding your claim, you can visit the nearest Reliance Nippon Life Insurance branch or talk to your insurance advisor.|
Following are the reasons why you should buy Life Lifelong Savings Plan from Reliance Nippon:
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