a reliance capital company strictly for internal communication only reliance life insurance money...

A Reliance Capital company A Reliance Capital company

Strictly For Internal Communication Only

Reliance Life Insurance Money Multiplier PlanUIN:

IRDA Approval Awaited


DO YOU LOVE YOUR NEAR AND DEAR ONES AS MUCH AS YOU LOVE YOURSELF?

Strictly For Internal Communication only


CAN YOU BE SURE AS TO WHAT MAY HAPPEN TO “U” IN THE NEXT FEW MINUTES?



DO YOU WANT TO BE FINANCIALLY SECURE IN THE EVENT OF ANY UNFORSEEN CALAMITY?



Ask yourself:

What part of my present income does my family need?

How many years are left for retirement?

What are my cash assets?

What are my monetary obligations?

What debt am I currently carrying?

Do I have a contingency fund?

Have you calculated your worth?



Continuity of income

Mortgage protection

Protection against disabilities

Children’s education

Marriage expenditure

Retirement fund

Tax relief

Have you planned for the following critical requirements of life?




Take a step ahead of others………….

Choose Reliance Life Insurance Money Multiplier Plan

Make your family feel proud of your smartness in buying an insurance plan that best suits your need.


Unique Selling Proposition

• Double protection against life risks.

• Increasing life cover every year.

• Commitment through guarantees.

• Wealth accumulation through guaranteed additions.

• Liquidity through loans.

• Convenience through flexible premium payment modes available.

• Choice of rider options as per requirement.



Guaranteed Loyalty Additions up to 210% of the basic sum assured provided all due premiums are paid in full.

Based on policy term chosen, Guaranteed Maturity Addition up to 20% of basic sum assured payable at maturity.


Guaranteed Additions:


Benefits: Double Life Cover Benefit:

Double the Basic Sum Assured, and

Accrued Guaranteed Loyalty Additions, if any.

Triple Maturity Benefit:

Basic Sum Assured,

Accrued Guaranteed Loyalty Additions, and

Guaranteed Maturity Addition

Tax Benefits: Premiums paid get tax benefit u/s 80 C & 80D. Maturity/Death proceeds get tax benefit u/s 10 (10D).



Additional Benefit – Riders:

Reliance New Criti

cal Conditions (2

5) Rider

Provides lump su

m amount

on the diagnosis

of specifi

ed critical ill

ness.

Reliance Term Life Insurance Benefit Rider

Provides increased insurance cover, at very

economical costs.

Reliance New Major Surgical Benefit Rider

Provides lump sum amount in case of

any major surgery done.

Reliance

Accidental D

eath and Total a

nd

Permanent D

isablement R

ider

Provid

es additional b

enefit on acco

unt of

accident.



Reliance Life Insurance Money Multiplier Plan

DETAILS




Key Points: Regular Premium plan with an objective to provide protection and regular savings.

Money multiplies through Guaranteed Loyalty Additions getting accrued at the end of every policy year & Guaranteed Maturity Addition payable on maturity.

Double the Basic Sum Assured + Accrued Guaranteed Loyalty Additions if any, as Life Cover benefit.

Basic Sum Assured, Accrued Guaranteed Loyalty Additions & Guaranteed Maturity Additions as Maturity benefit.

More value for money through High Sum Assured rebate.

Surrender value acquired after payment of 3 full years premium and is payable after completion of 3 policy years.

Loans up to 80% of surrender value after policy acquires a surrender value.

Nomination & Assignment available.

A host of optional rider benefits to enhance life cover.


Guaranteed Loyalty Additions up to 210% of the basic sum assured provided all due premiums are paid in full.

Based on policy term chosen, Guaranteed Maturity Addition up to 20% of basic sum assured payable at maturity.


Guaranteed Additions:



Product Limits:

*Mode of premium payment can be changed on policy anniversary.

Grace Period :There is a grace period of 30 days from the due date for payment of regular premiums. In case of monthly mode, the grace period is of 15 days.

Minimum MaximumAge at Entry 18 years 65 years last birthday

Age at Maturity 28 years 75 years last birthday

Policy Term 10 years / 15 years /20 yearsPremium No Limit

Premium Payment Term Regular

Premium Payment Mode* Yearly, Half-Yearly, Quarterly & Monthly (ECS)

Minimum Sum Assured Rs. 50,000 No Limit


Product Limits:


Sum Assured per Rs. 1000 Sum Assured

Less than Rs.1,00,000 Nil

Rs. 1,00,000 and above but less than Rs. 2,50,000 Rs. 1



Rs. 10,00,000 and above Rs. 4

High Sum Assured Rebate:



On Maturity, get Triple benefit of:

Basic Sum Assured,

Accrued Guaranteed Loyalty Additions, and

Guaranteed Maturity Addition

Policy terminates on payment of maturity benefit.

Benefits Under The Plan:



On Death of Life Assured, get Double benefit of:

Double the Basic Sum Assured, and

Accrued Guaranteed Loyalty Additions, if any.

Policy terminates on payment of death benefit.

Benefits Under The Plan:



Premiums paid in following respect are eligible for tax deduction as per Income Tax Act, 1961: Basic policy – u/s 80 C of the Act. Reliance Term Life Rider & Reliance Accidental Death and Total and

Permanent Disablement Rider – u/s 80C of the Act. Reliance New Major Surgical Benefit Rider and Reliance New Critical

Conditions (25) Riders – u/s 80D of the Act. The benefits under this plan and riders are exempted from tax u/s 10

(10D) of the Act. All the above are subject to conditions under Income Tax, Act, 1961 You are recommended to consult a tax advisor.

Tax Benefits:


Surrender Value: SV acquires after three full year premiums have been paid. SV payable only after completion of three policy years. Higher of Guaranteed Surrender Value (GSV) and Special Surrender

Value (SSV): GSV: 30% of total premiums paid excluding first year premium, rider

premiums and extra premium paid, if any. SSV: Surrender value factor multiplied by paid up value payable at maturity,

where;Paid up value payable at maturity =

Basic sum assured X (number of premiums paid/total number of premiums payable) plus Accrued Guaranteed Loyalty Additions.



Surrender Value Factor Applicable To Paid-up Value

Surrender Value:

Completed policy Years Policy Term 10 Policy Term 15 Policy Term 201 0% 0% 0%2 0% 0% 0%3 30% 20% 15%4 40% 27% 20%5 50% 33% 25%6 60% 40% 30%7 70% 47% 35%8 80% 53% 40%9 90% 60% 45%10 100% 67% 50%11

NA

73% 55%12 80% 60%13 87% 65%14 93% 70%15 100% 75%16

NA

80%17 85%18 90%19 95%20 100%



Loans: 80% of the surrender value under basic plan after the policy

acquires a surrender value.

Interest on loan is payable at prevailing rate of interest i.e. 9% p.a.

If at any time during the term of the policy, the sum of loan outstanding and interest on loan outstanding exceeds 95% of the surrender value; the policy will be terminated by recovering the loan outstanding and interest on loan outstanding from the surrender value. The balance of surrender value will be paid.

Note:Before payment of any benefit, the loan outstanding and the interest on loan outstanding will be recovered first and the balance if any will be paid to the policyholder or the nominee(s).



Nomination: Allowed as per Section 39 of the Insurance Act, 1938.

Assignment: Allowed as per section 38 of the Insurance Act, 1938.




Premium: Sample Premium Rates for Base Plan:

SUM ASSURED: Rs. 1,00,000

Premium for Riders:Will be collected over & above the premium under basic plan.

Age/Policy Term

10 15 20

25 14,665 11,775 10,52035 14,810 11,965 10,77545 15,375 12,645 11,56555 16,860 14,370 13,620



Applicable on basic premium, rider premium.

On Basic premium - @ 1.03% p.a.

On Rider premium - @ 10.30% p.a.

Collected from the policyholder along with the basic premium and rider premiums respectively.

The rate of service tax is decided and can be revised from time to time by the Government of India.

Service Tax:



Discontinuance of Premium: If less than three years’ premiums have been paid:

Policy LAPSES at the end of the grace period. Insurance Cover and Rider benefits cease immediately. No benefits will be paid when the policy is in lapsed status. Accrued Guaranteed Loyalty Additions, if any, are not payable for

a policy in lapsed status. No further Guaranteed Loyalty Additions will be payable.



Discontinuance of Premium: If discontinuance happens after payment of at least

three full years’ premiums: Policy will be converted into a PAID-UP policy. The benefits under basic plan will be reduced in a manner as given below:

Paid up value payable on death = Twice the basic sum assured * (Number of premiums paid / total number of premiums payable) plus Accrued Guaranteed Loyalty Additions.

Paid up value payable on maturity = Basic sum assured * (number of premiums paid / total number of premiums payable) plus Accrued Guaranteed Loyalty Additions.

Life insurance protection continues to the extent of the paid-up value until the end of the policy term but rider benefit will cease.

Once the policy becomes paid up, further Guaranteed Loyalty Additions and Guaranteed Maturity Addition will not be payable.


Disadvantages of Discontinuance of Premium:

No risk protection on your precious, priceless life.

Regular saving stops.

Purpose with which the plan was bought is lost.

No Guaranteed Loyalty Additions and Guaranteed Maturity Additions payable.

No Tax benefit available.




A) Policyholder may revive a PAID-UP or LAPSED policy; by paying arrears of premium along with interest at prevailing rate, within the revival period of 2 years from the due date of first unpaid regular

premium or date of maturity whichever is earlier, subject to satisfactory medical and financial underwriting.

B) If the base plan is revived, the riders can also be revived; by paying arrears of premiums along with interest at prevailing rate., Subject to satisfactory medical and financial underwriting.

Revival of Policy:


Plan At a Glance:Key Benefits

Guaranteed Loyalty Additions Accrued at the end of each policy year

Guaranteed Maturity Additions Payable at maturity

Death Benefit Twice the basic sum assured + Accrued Guaranteed Loyalty Additions

Maturity Benefit Basic sum assured + Accrued Guaranteed Loyalty Additions + Guaranteed Maturity Additions

Other Benefits

RidersReliance New Critical Conditions (25) Rider, Reliance New Major Surgical Benefit Rider, Reliance Term Life Insurance Benefit Rider & Reliance Accidental Death and Total and Permanent Disablement Rider

Tax Benefit Under section 80C, 80D and 10(10D)

Additional Options

Rebate More value for money through High sum assured rebate

Loans & Surrenders Provides liquidity in case of need

Premium payment Options Flexibility to pay regular premium under different modesStrictly For Internal Communication only



Young working professionals.

Married couple with kids.

Businessman.

Entrepreneur.

Self Employed.

Salaried Individual (Private & Govt)

Elderly people. (Max entry age 65 years)

Target Market:


Strictly For Internal Communication Only

a reliance capital company strictly for internal communication only reliance life insurance money...

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