L o a d i n g . . .

Reliance Nippon Life
Nishchit Bhavishya

A Non-Linked, Non-Participating, Individual Savings Life Insurance Plan

Steps
Eligibility Criteria
Minimum Age at Entry 5 Years
Maximum Age at Entry 50 Years
Premium Payment Term - PPT (in years) 8 10 12
Policy Term - PT (in years) 24 28 30 35 36 42
Maximum Age at Maturity (in years) 74 78 80 85 86 92
Premium Payment Frequency Yearly, Half-yearly, Quarterly, Monthly
All the references to age are based on age last birthday

Why Reliance Nippon Life Insurance?*

1 713 Extensive network
of offices (As on 31st Mar 2024)
2 98.74% Claim Settlement
Ratio (Individual death claim ratio
as per audited figures for FY24)
3 91,720 cr Total
Sum Assured (As on 31st Mar 2024)
4 227% Solvency Ratio Against a
regulatory requirement of 150% of offices (As on 31st Mar 2024)

FAQs

1.What is the Reliance Nippon Life Nishchit Bhavishya?

The Reliance Nippon Life Nishchit Bhavishya Plan is a Non-Linked Non-Participating Individual Saving Life Insurance Plan that provides guaranteed benefits that ensure your financial needs and goals are taken care off while providing you and your family with long term protection from life's uncertainties.

2.What are the plan options available under Reliance Nippon Life Nishchit Bhavishya?

The plan offers a choice of two plan variants at inception of the policy. a. Variant 1:
This variant provides income benefit post premium payment term along with a lump sum maturity benefit. b. Variant 2:
This variant provides two money back payouts at 4th and 8th year before the income benefit starts from the 12th year and a lumpsum benefit is also paid at maturity.

3.What is the Death Benefit under Reliance Nippon Life Nishchit Bhavishya Plan?
During Premium Payment Term: In case of unfortunate death of the Life Assured provided the Policy is In-force i.e., all due premiums have been paid as on the date of death, the Claimant(s) shall receive higher of:
  • Sum Assured on Death; and
  • 132% of the Total Premiums Paid as on date of death of the Life Assured
Where, Sum Assured on Death is higher of:
  • 11 times the Annualized Premium, and
  • 2 times of Base Sum Assured
Post Premium Payment Term: In case of unfortunate death of the Life Assured provided the Policy is In-force i.e., all due premiums have been paid as on the date of death, the Claimant(s) shall receive higher of:
  • Sum Assured on Death; and
  • 132% of the Total Premiums Paid as on date of death of the Life Assured; and
  • Base Sum Assured plus FixedLoyalty Addition, if any
    Where, Sum Assured on Death is higher of:
    • 11 times the Annualized Premium, and
    • Base Sum Assured
Fixed Loyalty Addition as a percentage of Base Sum Assured is as follows:
Premium Payment Term Fixed Loyalty Addition (% of Base Sum Assured)
Variant 1 Variant 2
8 years 38% 34%
10 years 44% 40%
12 years 50% 46%
The Policy will terminate on payment of the Death Benefit to the Claimant(s).
4.What is the Survival benefit under Reliance Nippon Life Nishchit Bhavishya Plan?
  • Variant 1:
    Income Benefit
    On survival of the Life Assured, provided all due premiums are paid in full, Income Benefit shall be payable at the end of each policy year starting after Premium Payment Term till one year prior to end of the Policy Term. The Income Benefit shall be a percentage of Annualized Premium, increasing at a simple rate of 5% per annum.
  • Variant 2:
    Money Back Benefit
    On survival of the Life Assured, provided all due premiums are paid in full, Money Back benefit, as a percentage of Annualized Premium,shall be payable at the end of 4th and 8th Policy Year.
    Policy Year Money Back Benefit (% of Annualized Premium)
    4 75%
    8 125%
    Income Benefit:
    On survival of the Life Assured, provided all due premiums are paid in full, Income Benefit shall be payable at the end of each policy year starting from end of 12th policy year till one year prior to end of the Policy Term. The Income Benefit shall be a percentage of Annualized Premium, increasing at a simple rate of 5% per annum.
5.What is the Maturity Benefit under Reliance Nippon Life Nishchit Bhavishya Plan?
On survival of the life assured till the end of the policy term, provided all due premiums are paid in full, Sum Assured on Maturity plus Fixed Loyalty Addition, if any, shall be payable.
Loyalty Addition, if any, shall be payable.
Where, Sum Assured on Maturity is equal to Base Sum Assured.
Fixed Loyalty Addition as a percentage of Base Sum Assured is as follows:
Premium Payment Term Fixed Loyalty Addition (% of Base Sum Assured)
Variant 1 Variant 2
8 years 38% 34%
10 years 44% 40%
12 years 50% 46%
The policy will terminate on payment of the maturity benefit.
*Tax benefits may be applicable as per prevailing income tax laws. Tax laws are subject to change. Please consult a tax advisor.
Plan option can be chosen at policy inception only and once chosen, cannot be altered at a later date.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
UIN for Reliance Nippon Life Nishchit Bhavishya: 121N145V02
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