Life insurance cover during the entire policy term for Financial Security
Where Financial Security Meets Flexibility.
Get guaranteed returns and revolutionize your savings journey with unmatched customization!
Reliance Nippon Life Nishchit Samrudhi Plus
A Non-Linked Non-Participating Individual Savings Life Insurance Plan
Taaki aapki koi khwahish adhuri na reh jaye
BENEFITS OF RNL NISHCHIT SAMRUDHI PLUS
Flexibility to pay for a limited period of 5/8/10/12 years
Long term guarantee of returns for as long as 44 years
Increasing benefits to balance the growing needs in life
Growing your income choosing Flexi wallet feature and withdraw as per need
Enhanced protection through choice of riders
Tax benefits* as per prevailing tax laws
Illustration
Mr. Nitin as a 45-year-old professional who is looking for a plan to secure his golden years. He purchases Reliance Nippon Life Nishchit Samrudhi Plus that would provide him guaranteed annual income for retirement which increases year-on-year. The plan also provides a long term life cover for 42 years, till the age of 87 years, for financial security of his family in case of his unfortunate demise.
-
Premium Payment Term (PPT)
10 years -
Deferment Period (DP)
2 years -
Income Period (IP)
30 years -
Policy Term (PT)
42 years -
Annual Premium
₹5 Lakhs -
Total Premium Payable
₹50 Lakhs -
Total Benefit
~₹2.45 Crores -
Give-Get ratio
~4.9
Total Guaranteed Annual Income of ₹1.95 crore
Maturity Benefit of ₹50 lakhs
Total Benefits of ₹2.45 Crores
You Pay
Rs
Rs
You Get
Rs
Rs
Give Get
IRR
ELIGIBILITY CRITERIA
| Premium Payment Term - PPT (in years) | 5 | 8 | 10 | 12 |
|---|---|---|---|---|
| Deferment Period - DP (in years) | 0 / 1 / 2 | |||
| Income Period - IP (in years) | 10 / 15 / 20 / 25 / 30 | 15 / 20 / 25 / 30 | ||
| Policy Term - PT (in years) | PPT + DP + IP | |||
| Minimum Age at Entry (in years) | 0 years (subject to minimum maturity age of 18 years) | |||
| Maximum Age at Entry (in years) | 55 | 60 | 60 | 55 |
| Minimum Age at Maturity (in years) | 18 | 18 | 20 | 27 |
| Maximum Age at Maturity (in years) | 92 | 100 | 100 | 99 |
| Minimum Annualized Premium (in ₹) | 1,00,000 | |||
| Maximum Annualized Premium (in ₹) | No limit, subject to Board Approved Underwriting Policy | |||
| Coverage for |
All Individuals (Male | Female | Transgender) Transgenders shall be covered as per the Board Approved Underwriting Policy of the Company. |
|||
All the references to age are based on age last birthday
WHY RELIANCE NIPPON LIFE INSURANCE?
Solvency ratio
FAQS
The Reliance Nippon Life Nishchit Samrudhi Plus is a Non-Linked Non-Participating Individual Saving Life Insurance Plan that offers unmatched flexibility and financial security. With RNL Nishchit Samrudhi Plus, you have the unique advantage of accumulating your income benefits in a convenient Flexi-Wallet, allowing you to customize your savings strategy according to your specific needs. You have full freedom to withdraw money from the Flexi-Wallet whenever you require, ensuring complete control over your finances.
In case of an 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; or
- Death Benefit Factor multiplied by Total Premiums Paid as on the date of death of the Life Assured
Where, the Sum Assured on Death is defined as an amount equal to 11 times the Annualized Premium.
Death Benefit Factor:
| Premium Payment Term | Death Benefit Factor |
|---|---|
| 5, 8 years | 105% |
| 10 years | 145% |
| 12 years | 153% |
Death Benefit for Minor Life:
If age at entry of the Life Assured is greater than or equal to 8 years, the risk will commence immediately from the Date of Commencement of Policy. If Age at entry of the Life Assured is less than 8 years, the risk under the Policy will commence either from the first day of the third Policy Year or from the Policy Anniversary date falling immediately after attainment of 8 years of age, whichever is earlier. If the Age at entry of the Life Assured is less than 8 years and the death happens before the Date of Commencement of Risk, the Death Benefit shall be restricted to the Total Premiums Paid. The Policy will terminate on payment of the Death Benefit to the Claimant(s).
The Guaranteed Annual Income (GAI) shall be payable on survival of the Life Assured at the end
of every policy year during the Income Period, provided the Policy is In-force i.e., all due
premiums have been paid. The GAI at the start of Income Period shall be equal to GAI rate
multiplied by Annualized Premium and the GAI shall increase every year at a simple rate of 5%
per annum.
Please refer to Sales Brochure for sample GAI Rates.
Deferment Period (DP) is the period commencing from the end of Premium Payment Term (PPT) till the start of Income Period (IP). Under Nishchit Samrudhi Plus Plan policyholder has an option to choose Deferment Period of 0/1/2 years.
Income Period is the period during which Survival Benefit is payable. It will commence from the end of Premium Payment Term plus Deferment Period till end of the Policy Term. Under Nishchit Samrudhi Plus Plan policyholder has an option to choose Income Period of 10/15/20/25/30 years depending upon the Premium Payment Term chosen.
On survival of the Life Assured till the end of the Policy Term, provided the Policy is In-force
i.e., all due premiums have been paid, Sum Assured on Maturity plus outstanding balance, if any,
in Flexi Wallet shall be payable.
Where the Sum Assured on Maturity is defined as an amount equal to Annualized Premium multiplied
by Premium Payment Term.
You have an option to receive the Maturity Benefit as a lump sum at the end of the Policy Term
or opt for Settlement Option.
Flexi Wallet is a customized feature available only in our exclusive plans where you have an
option to accumulate the Guaranteed Annual Income (GAI) in Flexi-wallet instead of availing the
same as a periodic payment during the Income Period.
The amount in the Flexi Wallet will earn interest at prevailing interest rate and the same will
be credited at the end of each month. The prevailing interest rate shall be lower of State Bank
of India savings bank interest rate + 2.00% p.a. or 2 times State Bank of India savings bank
interest rate.
Opt-in / Opt-out:
You can opt-in for this Flexi Wallet feature either at policy inception or through an explicit
request submitted to the Company anytime during the Policy Term, whereby the Guaranteed Annual
Income payouts will be transferred directly to his/her Flexi Wallet. This option can be opted-in
and opted-out at any time during the Policy Term.
Withdrawal from Flexi Wallet:
At any time, you have an option to withdraw, completely or partially, the balance in the Flexi
Wallet. The minimum withdrawal amount in case of partial withdrawal is Rs. 10,000. In case the
balance in the Flexi Wallet is not withdrawn completely, such outstanding balance will be paid
to the Claimant in the event of death, surrender or maturity, whichever is earlier along with
other benefit payments. If you opt for Settlement Option at maturity, you will have an option to
leave the outstanding amount in the Flexi Wallet during Settlement Period.
At maturity of the Policy, you have an option to receive the Maturity Benefit as a lump sum or
to opt for Settlement Option under which you can leave the Maturity Benefit in the Flexi Wallet
along with the outstanding amount in the Flexi Wallet, if any, for a period equal to Settlement
Period. You can opt for a Settlement Period from one to five years only, starting from the date
of maturity.
There shall be no life insurance coverage during the Settlement Period. In case of the death of
the Life Assured during the Settlement Period, the outstanding amount in the Flexi Wallet shall
be payable to the Claimant.
Withdrawal during Settlement Period:
During the Settlement Period, you have an option to withdraw, completely or partially, the
balance in the Flexi Wallet. The minimum withdrawal amount in case of partial withdrawal is Rs.
10,000. In case the balance in the Flexi Wallet is not withdrawn completely, such outstanding
balance will be paid to the Claimant at the end of the Settlement Period or in the event of
death, whichever is earlier.