Reliance Nippon Life
Smart Zindagi Plus
A Non-Linked Participating Individual Savings Life Insurance Plan
Choose between two options to receive the Cash Bonus based on your income needs
Pay for a limited period and enjoy life cover till 85 years
Tax benefits on premiums paid and benefits received
Benefits of RNL Smart Zindagi Plus
Protection for your family
Pay for 10, 12, 15 or 20 years and enjoy a life cover till 85 years with option to enhance your protection with Riders.
Create a legacy for your family
Fulfil your family's long-term financial goals with a lumpsum Maturity Benefit.
Flexibility to receive bonuses
Receive bonuses as immediate pay-out or convert them to Paid Up Addition*(PUA), as per your needs.
Enjoy Tax Benefits
As per applicable tax laws.
* PUA is a guaranteed benefit payable on maturity or on death, if earlier and is participating in nature
Eligibility Criteria
Parameters |
Minimum |
Maximum |
Age1 at Entry (in years) |
18 |
50 (for PPT 20)
55 (other PPT options) |
Age1 at Maturity (in years) |
85 | |
Base Sum Assured (₹) |
2,50,000 | No limit (subject to Board Approved Underwriting Policy) |
Annualized Premium (₹) |
35,000 | No limit (subject to Board Approved Underwriting Policy) |
Premium Payment Frequency |
Yearly, Half-yearly, Quarterly and Monthly | |
Policy Term (in years) |
85-Age1 at entry of Life Assured | |
Premium Payment Term (PPT) (in years) |
10 / 12 / 15 / 20 | |
1All the references to age are as on last birthday.
The product shall be available for both online and offline sale.
Illustration
Rahul aged 40 years, an established businessman is looking for a secondary income to support his family's expenses. Rahul opts for Reliance Nippon Life Smart Zindagi Plus with:
Premium Payment Term |
15 years |
Policy Term |
45 years |
Annual Premium |
₹ 1,00,000 |
Base Sum Assured |
₹ 17,23,247 |
Rahul decides to take the Cash Bonus, if any, as an Immediate Payout to meet his immediate financial needs.
Rahul shall receive Cash Bonus, if any, from the end of 1st policy year till the age of 85 years, which will provide a supplementary income for his family.
At Maturity of the policy, Rahul shall receive the aggregate of Sum Assured on Maturity and Terminal Bonus, if any.
Benefits
Rahul will receive the total benefits throughout the Policy Term as specified in the table below, provided the policy is in-force i.e. all due premiums have been paid.
Benefit |
Amount (in Rs.) @8% |
Amount (in Rs.) @4% |
| Total Cash Bonus during policy term (A)2 | ₹ 22,19,369 | ₹ 6,71,206 |
| Sum Assured at Maturity (B) | ₹ 17,23,247 | ₹ 17,23,247 |
| Terminal Bonus at Maturity (C) | ₹ 61,99,726 | ₹ 15,76,771 |
Total Benefit (A+B+C) |
₹ 1,01,42,342 |
₹ 39,71,224 |
Total Premiums Paid |
₹ 15,00,000 |
₹ 15,00,000 |
- 2 Total Cash Bonus, if any, is inclusive of Cash Bonus on Base Sum Assured and Attached PUA, if any.
- Note: Above illustration has been determined using assumed investment return at 4% p.a. and 8% p.a. These returns are not guaranteed and do not indicate the upper or lower limits
Rahul decides to convert the Cash Bonus, if any, into Paid Up Addition (PUA) up to the age of 60 years and receive enhanced income from the age of 61 years.
Rahul shall receive Cash Bonus, if any, from the age of 61 years (i.e. end of 21st policy year) till the age of 85 years to meet his retirement income needs.
At Maturity of the policy, he shall receive the aggregate of Sum Assured on Maturity, Attached PUA and Terminal Bonus, if any.
Benefits
Rahul will receive the total benefits throughout the Policy Term as specified in the table below, provided the policy is in-force i.e. all due premiums have been paid.
Benefit |
Amount (in Rs.) @8% |
Amount (in Rs.) @4% |
| PUA at maturity (A) | ₹ 10,71,738 | ₹ 3,44,889 |
| Sum Assured at Maturity (B) | ₹ 17,23,247 | ₹ 17,23,247 |
| Total Cash Bonus after age 60 years (C)2 | ₹ 30,09,774 | ₹ 6,36,939 |
| Terminal Bonus at Maturity (D) | ₹ 72,71,464 | ₹ 19,21,660 |
Total Benefit (A+B+C+D) |
₹ 1,20,04,485 |
₹ 42,81,846 |
Total Premiums Paid |
₹ 15,00,000 |
₹ 15,00,000 |
- 2 Total Cash Bonus, if any, is inclusive of Cash Bonus on Base Sum Assured and Attached PUA, if any.
- Note: Above illustration has been determined using assumed investment return at 4% p.a. and 8% p.a. These returns are not guaranteed and do not indicate the upper or lower limits
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) |
PPT |
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 years | |||
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 minimum life cover of Rs. 22,00,000 (11 times the Annualised Premium)
The Premium mentioned above is for a healthy male and is exclusive of any loadings and taxesWhy Reliance Nippon Life Insurance?
713
Extensive network of offices
(As on 31st Mar 2024)
98.74%
Claim Settlement Ratio
(Individual death claim ratio as per audited figures for FY24)
₹91,720 Cr
Total Sum Assured
(As on 31st Mar 2024)
Solvency Ratio of 227%
Against a regulatory requirement of 150%
(As on 31st Mar 2024)Frequently Asked Questions
In case of unfortunate death of the Life Assured during the Policy Term, provided the policy is in- force and all due premiums have been paid as on the date of death, the Claimant(S) shall receive following benefits as lumpsum, based on the variant chosen:
Higher of:
- Sum Assured on Death plus Attached PUA, if any, plus Terminal Bonus, if any or
- 105% of Total Premiums Paid, as on the date of death of the Life Assured
Where, Sum Assured on Death is defined as higher of 11 times the Annualized Premium or Base Sum Assured chosen by the Policyholder at inception of the policy.
Provided a policy is in-force i.e. all due premiums have been paid. Cash bonuses, if any at the rate declared by the company, shall be payable at the end of each policy year till end of the policy term.
The Policyholder has following two options with respect to Cash Bonus:
- Immediate Payout: Cash bonus, if any, is paid to the Policyholder
- Convert into Paid Up Addition (PUA): Cash Bonus, if any, is converted into PUA by multiplying Cash Bonus with corresponding applicable PUA Conversion Factor.
The Policyholder can select one of the above options at proposal stage. However, the Policyholder will have the choice to change the option from Immediate Payout to PUA or vice-versa at any time during the Policy Term.
On survival of the Life Assured to the end of the Policy Term, provided the policy is in-force i.e. all due premiums have been paid, the following benefits will be payable:
- Sum Assured on Maturity; plus
- Terminal Bonus, if any; plus
- Attached PUA, if any
Where Sum Assured on Maturity is equal to Base Sum Assured.
The policy terminates on payment of the maturity benefit.
Attached PUA, if any, is the total prevailing PUA in-force in a policy at a given time. It shall be payable on earlier of
- Death of Life Assured
- Policy Maturity
The Policyholder can surrender the Attached PUA, if any, (in part or full) at any time during the Policy Term without surrendering the base policy. On such surrender, the Attached PUA benefits will reduce corresponding to the surrendered PUA amount.
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