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.
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.