Reliance Cash Flow Plan

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Reliance Cash Flow Plan

 

Reliance Cash Flow Plan is a Money Back Plan from Reliance Life Insurance Company. This is a non unit-linked insurance traditional plan where the money is paid as pre-decided intervals.

 

In this policy, if the Life Insured survives then he would receive percentage return at the end of the fourth year and then every 3rd year till maturity. When the policy matures, the remaining amount along with accrued bonus is paid and the policy is terminated. However, if the Life Insured dies within the policy tenure, then the nominee would receive the full Sum Assured irrespective of how much has already been paid out before and Bonus being calculated on the full Sum Assured and the policy terminates.

 

 

Key Features of Reliance Cash Flow Plan

 

§         Money back plan with both Death and Survival Benefits

§         Death benefit is full Sum Assured irrespective of the amount paid as Survival Benefit along with accrued bonuses

§         Survival Benefit is paid at the end of the 4th year and then at the end of every 3 years

§         Option to add riders

§         Large Sum Assured Rebate offered in this policy

 

 

Benefits you get from Reliance Cash Flow Plan

 

Death Benefit – In case of death of the Life Insured, the nominee receives the full Sum Assured irrespective of what payment has already been provided + accrued Bonus

 

Survival Benefit – The Life Insured would receive the first instalment at the end of the 4th policy year and the others from the end of every 3 policy years.

 

Money Back Survival Benefits paid per Rs 1,000 Sum Assured on survival to the end of year

Term

4

7

10

13

16

19

22

25

28

31

34

7

500

500

 

 

 

 

 

 

 

 

 

10

333

333

333

 

 

 

 

 

 

 

 

13

250

250

250

250

 

 

 

 

 

 

 

16

200

200

200

200

200

 

 

 

 

 

 

19

167

167

167

167

167

167

 

 

 

 

 

22

143

143

143

143

143

143

143

 

 

 

 

25

125

125

125

125

125

125

125

125

 

 

 

28

111

111

111

111

111

111

111

111

111

 

 

31

100

100

100

100

100

100

100

100

100

100

 

34

90.9

90.9

90.9

90.9

90.9

90.9

90.9

90.9

90.9

90.9

90.9

 

Maturity Benefit – At the maturity of the policy, the insured will get the final Lumpsum Amount along with accrued Bonus

 

Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and the amount for Critical Illness rider is deducted under Section 80D. The maturity proceeds are exempted from tax under Section 10 (10D)

 

 

Eligibility conditions and other restrictions in Reliance Cash Flow Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

25,000

No Limit

Policy Term (in years)

7

34

Premium Payment Term (in years)

7

34

Entry Age of Life Insured (in years)

15

63

Age at Maturity (in years)

22

70

Premium (in Rs.)

Nothing Specified

Payment modes

Yearly, Half-yearly, Quarterly, Monthly and SSS

 

 

Sample illustration of premium of Reliance Cash Flow Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for a

Age = 30 years, 35 years and 40 years

Sum Assured = Rs 1,00,000  and Rs 5 lakhs

Policy Term = 25 years.

Sample Premiums for Reliance Cash Flow Plan 

 

Additional Features and Benefits of Reliance Cash Flow Plan

 

Riders- There are 3 additional riders in this plan

1. Critical Illness Rider

2. Accidental Death & Total & Permanent Disablement Rider

3. Family Income Benefit Rider

 

And there is an in-built rider

Premium Waiver Benefit rider - If the Life Assured becomes totally and permanently disabled, then the insurer will waive all future premiums up to a limit of Rs 40,000 p.a.

 

 

What happens if?

 

You stop paying the premium – If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions. However, it can be revived anytime before the policy maturity.

 

You want to surrender the policy – There is a Guaranteed Surrender Value after 3 policy years
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium

 

You want a loan against your policy – Loan facility is not available under this policy

 

 

Alternate Money Back Insurance Plans from different insurance companies

 

Bharti AXA Life Save Confident

Future Generali Dream Guarantee Plan

HDFC Money Back

 

 

Other Money Back Insurance Plans from Reliance Life Insurance Company

 

Reliance Life Insurance Guaranteed Money Back Plan

Compare MoneyBack Plans

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