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Reliance Nippon Life Nishchit Samrudhi

A Non-Linked Non-Participating Individual Savings Life Insurance Plan.
(UIN: 121N142V01)

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    Guaranteed
    Benefits

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    Life Cover

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    Tax Benefits

Benefits of RNL Nishchit Samrudhi:

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Guaranteed Benefits

Get long term guarantees for a period of up to 28 years

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2 plan options

Receive guaranteed benefits based on your financial needs with option to choose from 2 plan options

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Flexibility to pay premiums

Pay once1 or for a short period of 6 or 7 years

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Tax benefits

Save tax up to ₹46,800 u/s 80(C) on premiums paid and also receive tax benefits on benefits received u/s 10(10D)2

Enjoy benefits of guaranteed regular income for a period of 17 or 20 years, and financial boost by way of guaranteed lumpsum benefit at maturity by paying premiums for a short period.

Minimum/Maximum Age at Entry3 (in years)

PPT

Age

6 12/55
7 11/52

Premium Payment Term - PPT (in years)

6 7

Policy Term – PT (in years)

24 28

Premium Payment Frequency

Yearly, Half-yearly, Quarterly, Monthly

Mr. Sharma, aged 45 years, wishes to secure his retirement for the years to come. He purchases Reliance Nippon Life Nishchit Samrudhi with Income Option. He chooses to pay an annual premium of Rs.2 Lakhs for a premium payment term of 7 years and policy term of 28 years.

Total Premium Paid in 7 years: Rs.14,00,000

Receives a Guaranteed Annual Income of Rs.1,00,000 for 20 years

Receives a lumpsum Guaranteed Maturity Benefit of Rs.17,18,065

Mr.Sharma’s Benefits

Amount ( in Rs. )

Total Guaranteed Income Benefit for 20 years (A)

20,00,000

Guaranteed Maturity Benefit (B)

17,18,065

Total Benefits Received (A+B)

37,18,065

Total Premiums Paid

14,00,000

Mr. Sharma enjoys a minimum life cover of Rs. 22,00,000 (11 times the Annualised Premium)

Premium amount shown above is for healthy male life assured, exclusive of any loadings and taxes

Get your maturity benefit in 4 equal instalments and fulfil your long-term goals such as business expansion or your child's education.

Minimum/Maximum Age at Entry3 (in years)

PT

Age

15 3/55
16 2/55
17 to 20 1/55

Premium Payment Term - PPT (in years)

Single Pay 6 7

Policy Term – PT (in years)

15 to 20

Premium Payment Frequency (Limited Pay)

Yearly, Half-yearly, Quarterly, Monthly

Mr. Gupta, aged 35 years, wishes to ensure his son is able to achieve his education dreams. He purchases Reliance Nippon Life Nishchit Samrudhi with Endowment Option. He chooses to pay an annual premium of Rs. 2 Lakhs for a premium payment term of 7 years and policy term of 20 years.

Total Premium Paid in 7 years: Rs.14,00,000

Mr. Gupta receives the Guaranteed Maturity Benefit as 4 equal instalments of Rs. 9,83,671 p.a. from 20th year onwards

Mr. Gupta Benefits

Amount ( in Rs. )

Total Maturity Benefits received

39,34,684

Total Premiums Paid

14,00,000

Mr. Gupta gets a life cover of Rs. 39,34,684

The Premium mentioned above is for a healthy male and is exclusive of any loadings and taxes
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713

Extensive network of offices

(As on 31st Mar 2021)
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98.48%

Claim Settlement Ratio

(Individual death claim ratio as per audited figures for FY21)
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₹78,847 Cr

Total Sum Assured

(As on 31st Mar 2021)
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Solvency Ratio of 245%

Against a regulatory requirement of 150%

(As on 31st Mar 2021)

Frequently Asked Questions

The plan offers a choice of two plan option at inception of the policy.

  • a. Income Option: The option provides guaranteed annual income for 17 or 20 years with a lumpsum benefit at maturity, depending on premium payment term chosen.
  • b. Endowment Option: The option provides the maturity benefit in the form of four equal annual instalments, where the first instalment payable at the end of the policy term and the remaining 3 instalments are payable during the payout period.

On death of the Life Assured during the Policy Term provided the Policy is In-Force i.e. all due Premiums have been paid as on the date of death, and depending on the premium payment options, the Claimant is paid as follows:

Premium Payment Option

Benefit

Limited Pay

The claimant(s) shall receive the higher of:

  • i. Sum assured on death and
  • ii. 105% of Total Premiums Paid as on the date of death of life assured

Where, sum assured on death is defined as the higher of:

  • i. 11 times Annualized Premium or
  • ii. Base sum assured chosen by the policyholder at inception of policy
Single Pay

The claimant(s) shall receive the sum assured on death which is defined as the higher of:

  • i. 1.25 times Single Premium or
  • ii. Base sum assured chosen by the policyholder at inception of policy

The policy terminates on payment of the death benefit.

The Sum Assured on Death is defined as higher of:

  • i. 11 times the Annualized Premium or (1.25 times the Single Premium) and
  • ii. Base Sum Assured under the plan

On survival of the Life Assured, provided the policy is in-force i.e. all due premiums have been paid, the survival benefit is payable as follows;

  • a. Income Option: Guaranteed annual income shall be paid at the end of each policy year starting after the premium payment term till one year prior to end of policy term and is calculated as follows:

    Premium Payment Term

    Percentage of Annualized Premium

    Duration of Guaranteed Annual Income Payout

    6 40% From end of 7th to 23rd policy year
    7 50% From end of 8th to 27th policy year
  • b. Endowment Option: No survival benefit is payable under this option

On survival of the life assured to the end of the policy term, provided the policy is in-force, the following benefits will be payable, based on the plan option.

  • a. Income Option: Sum Assured on Maturity payable as lumpsum
  • b. Endowment Option: Sum Assured on Maturity shall be paid in 4 equal annual instalments, where the first instalment is payable at the end of the policy term and the remaining 3 instalments are payable during the payout period.

Where, payout period is the period of 3 years from the end of policy term.

In case of death of the life assured during the payout period the outstanding maturity benefit instalment, if any, as scheduled will be payable to the claimant(s).

Where Sum Assured on Maturity is equal to Base Sum Assured. The policy terminates on payment of the maturity benefit.

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