Reliance Nippon Life Fixed Money Back Plan

• Fixed Money Back during last 5 policy years
• Guaranteed Maturity Benefit
• Fixed Loyalty Additions
• Life cover for the complete policy term
• Flexibility to choose policy term & premium paying term
• Boost protection through riders
• Loan facility against the policy
• Avail tax benefits

Death Benefit

In the event of death of the life insured, the Death Benefit payable is higher of Sum Assured on Death or 105% of premiums paid (till the date of death). Under option A, the policy terminates on payment of death benefit. Under option B, premium payment will cease and the nominee will receive the unpaid Fixed Money Back Benefits and Guaranteed Maturity Benefit, as and when due.

Here Sum Assured on Death is higher of Base Sum Assured or Guaranteed Maturity Benefit plus last installment of the Fixed Money Back Benefits or annualized premium multiplied by Death Benefit multiple.

Death Benefit multiple is 10 times when minimum age at entry is 18 years and it is 7 times when minimum age at entry is 45 years.

Maturity Benefit

On survival of the life Insured till the end of the policy term, Guaranteed Maturity Benefit as the total Accrued Fixed Loyalty Additions is payable. Fixed Loyalty Additions of 3% of base sum assured is accrued at the end of every Policy Year and it is payable on death or maturity, whichever is earlier.

Money Back Benefits

Fixed Money Back as a percentage of Base Sum Assured is payable during the last 5 policy years.

For policy term 15 years, at the end of each 11^th/12^th/13^th/14^th policy year, 15% Fixed Money Back is payable and at the end of 15^th policy year, 40% Fixed Money Back is payable. For policy term 20 years, at the end of each 16^th/17^th/18^th/19^th policy year, 15% Fixed Money Back is payable and at the end of 20^th policy year, 40% Fixed Money Back is payable.

Loan Benefit

You can avail loan amount up to a maximum of 80% of the acquired Surrender Value.

Surrender Value

The policy can acquire a Surrender Value after payment of all due premiums for at least 2 full policy years, for premium payment term is less than 10 years. The Surrender Value can be acquired after payment of all due premiums for at least 3 full policy years, for premium payment term is 10 years or more. Upon surrendering the policy, the higher of Guaranteed Surrender Value or Special Surrender Value is payable.

Tax Benefit

This policy provides tax benefits for premiums paid under section 80C & the benefits received is eligible for tax benefits under section 10 (10D) of the Income Tax Act, 1961.

Following riders can be opted, on payment of additional rider premium:

• Reliance Nippon Life Term Life Insurance Benefit Rider
• Reliance Nippon Life Major Surgical Benefit Rider
• Reliance Nippon Life Critical Conditions (25) Rider
• Reliance Nippon Life Accidental Death Benefit and Total and Permanent Disablement Rider (Regular Premium)
• Reliance Nippon Life Accidental Death Benefit and Total and Permanent Disablement Rider (Limited Premium)

Raman at 30 years, wants to buy Reliance Nippon Life Fixed Money Back Plan to get regular money backs along with life protection. He opts the plan with the option B, Death Benefit option 10X, policy term of 20 years, premium paying term of 10 years, Sum Assured is Rs 2,00,000 with annual premium of Rs 19,278.

Scenario I: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives Guaranteed Maturity Benefit. It helps fulfill your key financial obligations.



Scenario II: Raman dies during the Term of the Policy

In the event of demise of Mr. Raman during any policy year, the nominee will receive higher of Sum Assured on Death or 105% of premiums paid.