Newswala.com - The Best Source for online news
The Hyderabad-Deccan English Daily
Anmol Ratan - May Solve BP and Sugar Problems

Reliance Insurance launches Super Money Back Plan providing a monthly income along with life cover


Reliance Insurance launches Super Money Back Plan providing a monthly income along with life cover

Kolkata, Feb 5 (IBNS): Reliance Life Insurance, which is a part of the Reliance Capital, has launched 'Reliance Super Money Back Plan' that provides periodic guaranteed money back pay-outs and a monthly income along with life cover.

The policyholders will get money back benefits to policyholders every five years throughout the policy period along with an increasing monthly income that starts after the premium payment term.

The plan also provides life insurance cover for the full policy term by paying premium for just half the selected policy tenure.

Announcing the launch of the product, Anup Rau, Chief Executive Officer, Reliance Life Insurance said, "Reliance Super Money Back Plan is designed to help policyholders provide a guaranteed regular income and security for the family. Even as the guaranteed periodic lump sums ensure financial support at crucial junctures of life, the increasing guaranteed monthly income provides the additional support to take care of increasing expenses and to fulfill the goals for family."

For the 50 year policy, the policyholder has to pay premium for only 25 years.

The guaranteed money back payouts start from the 5th year and are paid every five years for the policy term.

At the end of the premium payment term of 25 years, the policyholder enjoys a guaranteed increasing regular monthly income till the end of the policy term.

"The policyholder starts getting 1 per cent of sum assured every month as regular income from 26th policy year and earns 12 per cent of the sum assured as total income during the year, for a 50 year plan. The monthly income for the year will go up to 84 per cent of sum assured in the 50th policy year on the back of annual increment of 3 per cent," the company said in a statement.

The pay-outs after the end of the premium period increases every year by 3 per cent and is paid till maturity or death of the insurer, whichever is earlier.

In the event of death of the policyholder during the premium payment term, provided the policy is in full force, the sum assured or 105 per cent of all the premiums paid or 10 times of annualized premium will be payed depending on the case.

If the policyholder dies within the policy term, the nominee would receive the full death benefit, irrespective of the survival benefits already paid.

This new plan is available for customers in the age group 18-55 years with a minimum sum assured of Rs. 1,00,000 and the policyholder can opt for policy terms - 10, 20, 30, 40 or 50 years.


Reliance Insurance launches Super Money Back Plan providing a monthly income along with life cover



2014-02-06




Comments


No comments yet! Be the first one to leave a comment.


Add Comment

Name:
Comment:
Enter the number in the image on the right Enter the Numbers in the image


Latest Videos:
Operation late night Roam-yos started by South zone police to eradicate Chabutra Culture in Old city Bin Trif Builders’s office in Dhobhi Ghat, Santoshnagar attacked by unknown people
Operation late night Roam-yos started by South zone police to eradicate Chabutra Culture in Old city Bin Trif Builders’s office in Dhobhi Ghat, Santoshnagar attacked by unknown people
DCP Satnarayana counseling the parents of the arrested youth caught while roaming late night Young boys roaming on roads during late night caught and retained in a function Hall by police
DCP Satnarayana counseling the parents of the arrested youth caught while roaming late night Young boys roaming on roads during late night caught and retained in a function Hall by police

Related Articles:

Right ArrowHDFC Life launches a new traditional Super Income Plan ..
Right ArrowReliance unveils Smart Cash Plus Plan ..
Right ArrowFuture Generali launches new insurance policies ..
Right ArrowReliance Life Insurance to set up over 100 libraries in governme ..
Right ArrowReliance Capital net up by 23 percent at the first quarter of 20 ..
Right ArrowLife Insurance Corporation of India ups its Reliance Industries ..
Right ArrowNippon Life Insurance of Japan keen to hike stake in Reliance Li ..
Reliance launches new life insurance policy

Reliance launches new life insurance policy

New Delhi, Jan 28/2014 : (IBNS): Reliance Life Insurance, part of Reliance Capital, has launched its new offering 'Reliance Super Money Back Plan'
Priyanka Chopra at the launch of Grazia magazine

Priyanka Chopra at the launch of Grazia magazine

Mumbai: Actress Priyanka Chopra launches latest Grazia Magazine cover at Reliance Digital store in Mumbai on Dec 17, 2014. (Photo: IANS)
Disney India launches Back To School range inspired by the Disney and Marvel characters and stories

Disney India launches Back To School range inspired by the Disney and Marvel characters and stories

Mumbai, May 26, 2014: Disney India's consumer products business recently launched a new exciting range of 'Back To School' collection inspired by
Arijit Basu takes over as MD & CEO of SBI Life Insurance

Arijit Basu takes over as MD & CEO of SBI Life Insurance

New Delhi, Aug 6 (IBNS): Arijit Basu has taken over as Managing Director & CEO of SBI Life Insurance, a private life insurer in the country, from Atan

Related News

     
     

This page was created in 0.0421199798584 seconds