Reliance Life Insurance launched Reliance Education Plan that caters to the need of the child in future in case of unfortunate death of the earning member / policyholder.
Reliance Education Plan, at a glance:
A non-linked, non-participating, child insurance plan that helps parents secure the future of their children.
Policy term of 9 to 20 years
Premium payment option of 5, 7 10 years or equal to policy term
Maximum entry age is 18 years
Along with the guarantee of receiving the basic sum assured at the end of the policy term on maturity, the plan offers an additional 2% of sum assured every year and a guaranteed maturity addition that is equal to the guaranteed addition.
In case of the death of the policyholder, the nominee will be entitled to a death benefit and future premiums are waived off.
Speaking at the launch, RLIC chief agency Officer Manoranjan Sahoo said: “Given the higher level of consciousness towards education in the state, Kerala customers would find this plan relevant for their children’s career.”
Reliance Life Insurance Company is a part of Reliance – Anil Dhirubhai Ambani Group (ADAG). Reliance Life Insurance is one of the few private life insurance companies in India which have launched operations without a foreign partner. Apart from its stand-alone distribution network the company has access to its large distribution which already is into the consumer finance business in a big way.
