IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BRONE BY POLICYHOLDER. The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance products completely or partially till the end of the fifth year.
Highlights
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CHOOSE A LIFE COVER OF UP TO 100 TIMES ANNUALIZED PREMIUM1
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GROW YOUR WEALTH WITH MARKET LINKED RETURNS
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FLEXIBLE PREMIUM PAYMENT TERM AS PER YOUR CONVENIENCE
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CHOOSE FROM 8 FUNDS THAT SUITS YOUR RISK APPETITE
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BOOST YOUR FUND VALUE WITH RETURNS OF CHARGES & ADDITIONS
1 For lives between 18-35 years of age with Premium Paying Term of 10years & above.
Illustration
Mr. Sharma, 45 years, is seeking a plan that offers a high life insurance coverage to ensure his family's financial needs are met if he is no longer present, and as a financially sound person, he also aims to invest his money with the goal of building a significant financial corpus. He opts for Reliance Nippon Life Wealth and Insurance Plan; let’s see how this plan will enable him to fulfil both of his objectives.
| Base Sum Assured | Policy Term | Annualized Premium | Premium Payment Term |
|---|---|---|---|
| ₹1,00,00,000 | 40 years | ₹2,00,000 (Annually) | 10 years |
| Benefit | Amount in (₹) @8% | Amount in (₹) @4% |
No. of Times of Annualized Premium |
|---|---|---|---|
| Loyalty Additions | 5,60,000 | 5,60,000 | 2.8 |
| Wealth Boosters | 20,00,000 | 20,00,000 | 10 |
| Return of Premium Allocation Charges (ROPAC) | 60,000 | 60,000 | 0.3 |
| Return of Mortality Charges | 9,81,828 | 10,95,026 |
- 4.9 @8% - 5.5 @4% |
| Fund Value on Maturity | 1,78,67,551 | 65,68,503 | |
| Total Premiums Paid | 20,00,000 | 20,00,000 |
The benefits illustrated in the table above assume that no partial withdrawals are made during the entire policy term.
In case of Mr. Sharma’s death during the policy term, higher of prevailing Base Sum Assured net of all "Deductible Partial Withdrawals" if any, Fund Value or 105% Total Premium(s) Paid, will be paid to the nominee and the policy will terminate. Where Base Sum Assured is the amount chosen at inception. The Base Sum will reduce to ten times of Annualized Premium post attainment of age 65 years.
Eligibility Criteria
|
Entry Age |
Minimum: 18 years | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Maturity Age |
85 years | ||||||||
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Policy Term |
85 years minus Entry Age | ||||||||
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Premium Payment Term |
5, 6, 7, 8, 10, 12, 15 and 20 years | ||||||||
|
Annualized Premium |
Minimum: ₹1,00,000 | ||||||||
|
Sum Assured |
Minimum
Maximum: No limit subject to board approved underwriting policy | ||||||||
|
Frequency of Premium Payment |
Yearly, Half-Yearly, Quarterly and Monthly |
Why Reliance Nippon Life Insurance?
Faqs
A protection-oriented Unit Linked Plan, tailored to ensure your family is well-protected with a robust life coverage while helping you grow your wealth to reach your long-term ambitions. Secure your future and enjoy a stress-free life with Reliance Nippon Life Wealth and Insurance Plan.
In an unfortunate event of death of the Life Assured, provided the Policy in-force, the following Benefit will be payable:
Higher of:
- • Base Sum Assured net of all ‘Deductible Partial Withdrawals’, if any; or
- • Fund Value as on the date of intimation of death; or
- • 105% of the Total Premium(s) Paid
|
Return of Premium |
The total Premium Allocation Charge deducted during the first five Policy years will be added back in the form of additional units at the end of 15th Policy Year. |
|---|---|
|
Return of Premium |
First 5 years Mortality Charges to be returned on 15th policy year in lumpsum, and thereafter every subsequent 5 years Mortality Charges to be returned after every 5th year. |
|
Loyalty Addition |
Loyalty Addition would be payable every five years starting from the end of 6th policy year and every fifth policy year thereafter in the form of additional units. The first Loyalty Addition would be 10% of Annualized Premium and the percentage will increase by 10% in each subsequent addition, until it reaches 100% of Annualized Premium. Further, the amount of each Loyalty Addition will be capped to a maximum of 20% of the closing Fund Value, as at the end of each Policy Year. |
|
Wealth Booster |
Wealth Boosters would be added in the form of additional units as a percentage of Annualized Premium, depending on the entry age, premium and premium payment term. Further, the amount of each Wealth Booster will be capped to a maximum of 30% of the closing Fund Value, as at the end of each Policy Year. |
Partial Withdrawal:
- • Partial Withdrawals from the Fund Value are available only after the completion of Lock-in Period i.e. first five policy years.
- • The first Two Partial Withdrawals in a Policy Year are free. On every subsequent Partial Withdrawal, within the policy year, a Partial Withdrawal Charge of Rs.100 will be deducted each time from the Fund withdrawn.
- • The minimum amount of Partial Withdrawal is Rs. 10,000 and the maximum Partial Withdrawal in a Policy Year shall not exceed 20% of the Fund Value at the beginning of the Policy Year. Partial withdrawal will be allowed till the Fund Value reaches the total premiums paid, up to the date of partial withdrawal. The partial withdrawals shall not be allowed which would result in termination of the Policy.
Switching: You are entitled to 52 free switches each Policy Year. You will have the flexibility to alter the allocation of your investments among the Fund(s) offered in order to suit your changing investment needs by switching between the Fund(s).
Premium Redirection: You can choose to change the allocation of future premiums with premium redirection feature. In this case all your future premiums will be allocated to the investment fund(s) of your choice, without changing your existing fund allocation.
The plan offers eight fund options, You can select between these funds in any proportion as per your choice.
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Fund Name |
Risk Profile |
|---|---|
|
Life Large Cap Equity Fund (SFIN: ULIF07101/12/19LLARGCAPEQ121) |
High |
|
Life Equity Fund 3 (SFIN:ULIF04201/01/10LEQUITYF03121) |
|
|
Life Pure Equity Fund 2 (SFIN:ULIF04601/01/10LPUEQUTY02121) |
|
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Make in India Fund (SFIN:ULIF06924/03/15LMAKEINDIA121) |
|
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Life Midcap Fund 2 (SFIN:ULIF04501/01/10LMIDCAPF02121) |
|
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Life Corporate Bond Fund 1 (SFIN:ULIF02310/06/08LCORBOND01121) |
Low to Moderate |
|
Life Balanced Fund 1 (SFIN:ULIF00128/07/04LBALANCE01121) |
|
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Life Money Market Fund 1 (SFIN:ULIF02910/06/08LMONMRKT01121) |
Low |