Reliance Nippon Life’s Guaranteed Money Back Plan

• Guaranteed Money Back
• Guaranteed Loyalty Additions
• Guaranteed Maturity Addition
• Get the life cover
• Policy term of 15 or 20 years
• Option to choose Regular Premium or Limited Premium
• Enjoy High Sum Assured Rebate
• Avail tax benefits

Death Benefit

In the event of death of the life insured, the Death Benefit payable is higher of Sum Assured, 10 times of the Annualized Premium, or 105% of all the premiums paid.

In the event of accidental death of the life insured, the Death Benefit payable is higher of Sum Assured, 10 times of the Annualized Premium, or 105% of all the premiums paid plus an additional amount equal to 100% of sum assured is payable. On death of the Life Insured, all future premiums are waived.

The Death Benefit is payable irrespective of the Guaranteed Benefits already paid. The additional Sum Assured on accidental death (including Reliance Nippon Life Accidental Death and Total and Permanent Disablement Rider) does not exceed Rs 50 lacs.

Maturity Benefit

On completion of the policy term irrespective of survival of the Life Insured, Guaranteed Loyalty Additions of 2% of Sum Assured is accrued at the end of each policy year and it is payable on maturity, provided the Policy is not surrendered or lapsed. Guaranteed Maturity Addition as 15%/20% of sum assured for policy term 15/20 years respectively and it is also payable on maturity, provided the Policy is not Paid-up.

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

No loan can be availed under Reliance Nippon Life’s Guaranteed Money Back Plan.

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. The Surrender Value payable is higher of Special Surrender Value and Guaranteed Surrender Value.

The surrender value is payable only after completion of the first 3 Policy Years. In the event of death of the life insured before completion of 3 Policy Years, the applicable Surrender Value is paid.

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.

No riders can be opted under this plan.

Raman at 30 years, wants to buy Reliance Nippon Life’s Guaranteed Money Back Plan to get regular money backs along with life protection. He opts the plan with the policy term of 20 years, premium paying term of 7 years, Sum Assured is Rs 2,30,840 with annual premium of Rs 30,000.

Scenario I: Raman Survives the Policy Term

If Mr. Raman survives till the maturity of the policy term, he receives Guaranteed Loyalty Additions as 40% of sum assured is payable.



Scenario II: Raman dies during the Term of the Policy

In the event of death (non-accidental) of Mr. Raman during any policy year, the nominee will receive higher of Sum Assured, 10 times of the Annualized Premium, or 105% of all the premiums paid.