Highlights
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TRIPLE DEATH BENEFIT
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MONEY BACK BENEFIT
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GUARANTEED LOYALTY ADDITION
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FLEXIBLE PREMIUM PAYMENT TERMS
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POTENTIAL TAX BENEFITS*
Example
Mr. Nilesh, a 30-year-old businessman, has a 1-year-old daughter, Yashvi. Nilesh is thinking of starting to save for his daughter's education from the outset, ensuring that Yashvi's educational journey is smooth and hassle-free. He evaluated multiple financial instruments such as based on their likelihood of guaranteed & safe returns, financial security as well as tax benefits. Taking into account the benefits offered by each instrument, he decided to save for his future with Reliance Nippon Life Guaranteed Money Back Plus which offers all three benefits - guaranteed returns, financial security for his family and inbuilt waiver of premium so that Yashvi's education is uninterrupted.
| Age of Life Assured | 30 years | Annualized Premium | ₹ 1,00,000 |
| Premium Payment Term | 10 years | Policy Term | 21 years |
| Base Sum Assured | ₹ 8,01,410 | ||
Nilesh will start receiving Money Back Benefit from the end of 17th policy year, which will be utilized for Yashvi's college education when she turns 18 years. At the end of 21st policy year, Nilesh will receive a hefty lumpsum amount as Maturity Benefit, which is a sum of accrued. Guaranteed Loyalty Addition and Sum Assured on Maturity. This amount will be used for Yashvi's higher education.
| Mr. Nilesh’s Benefits | Amount in (₹) |
|---|---|
| Total Money Back Benefit (A) | 5,60,988 |
| Accrued Guaranteed Loyalty Addition (B) | 10,57,861 |
| Sum Assured on Benefit (C) | 4,00,705 |
| Total benefits received (A+B+C) | 20,19,554 |
| Total Premiums paid | 10,00,000 |
Nilesh passes away during the 5th policy year, however, the policy will continue with the following
benefits:
1. A lumpsum benefit will be paid to the nominee.
2. Future premiums will be waived off.
3. Money Back Benefit and Maturity Benefit will be paid as and when due.
These benefits will allow Yashvi's education journey to continue even in absence of Nilesh.
| Mr. Nilesh’s Benefits | Amount in (₹) |
|---|---|
| Lumpsum benefit on Death (A) | 10,00,000 |
| Total Money Back Benefit (B) | 5,60,988 |
| Accrued Guaranteed Loyalty Addition (C) | 10,57,861 |
| Sum Assured on Maturity | 4,00,705 |
| Total benefits received (A+B+C+D) | 30,19,554 |
| Total Premiums paid | 10,00,000 |
Eligibility Criteria
| Parameters | Minimum | Maximum | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Entry Age1 (years) | 18 | 55 | ||||||||
| Maturity Age1 (years) | 33 | 75 | ||||||||
| Annualized Premium (Rs.) | Rs. 24,000 | No limit (Subject to Board Approved Underwriting Policy) |
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Premium Payment Term and Policy Term (years) |
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| Premium payment frequency | Yearly, Half-yearly, Quarterly and Monthly | |||||||||
| Coverage for | All Individuals (Male | Female | Transgender) Transgenders shall be covered as per the Board Approved Underwriting Policy of the Company |
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1All the references to age are as on last birthday.
Faqs
Reliance Nippon Life Guaranteed Money Back Plus is a non-linked, non-participating individual savings life insurance plan that provides both life insurance protection and guaranteed returns.
- You are required to pay the premiums for the chosen premium payment term.
- At the end of last four policy years immediately prior to the last policy year, you will receive Money Back Benefit which will be increasing every year.
- On maturity of the policy, you will receive a hefty lumpsum amount which consists of Guaranteed Loyalty Addition and Sum Assured on Maturity.
- These benefits will be paid even in case of an unfortunate demise and no premiums will be further required.
You can pay the premiums for 5, 7,8, 10, 12 or 15 years depending on your need.
You can choose to be covered for as short as 15 years and as long as 25 years.
GLA is a year-on-year addition from the company into your policy, as a reward against your loyalty. Longer the policy term, higher the amount of addition. Also, the amount of GLA increases every 4 years.
You can enhance your coverage with the following optional riders:
- RNL Accidental Death Benefit Rider
- RNL Accidental Death and Disability Rider
- RNL Accidental Death and Disability Plus Rider
- RNL Critical Illness Rider
These riders provide additional protection in case of accidents or critical illnesses.