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Reliance Super Money Back Plan

Reliance Life Super Money Back Plan is a limited period money back plan. In this policy, premium needs to be paid for the half the Policy Tenure. Money Back is paid as a % of the Sum Assured every 5 years. On survival till the end of the Premium Paying Tenure,

Regular Monthly Payouts of 1% of the Sum Assured is paid for the first Payout Year which increases by 0.25% every year

Guaranteed Loyalty Addition is paid on survival till the end of the Premium Paying Term

Guaranteed Loyalty Addition = 1% of Sum Assured x Premium Paying Term

Guaranteed Maturity Addition is paid on survival till the end of the Policy Tenure

Guaranteed Maturity Addition = 1% of Sum Assured x Policy Term

Money Back Benefits = % of Sum Assured every 5 years

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Death benefit
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Survival Benefit
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Loyalty Additions
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Key Features

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Death benefit is full Sum Assured irrespective of the amount paid as Survival Benefit
Survival Benefit is paid every 5 years
Offers Guaranteed Loyalty Additions
Offers Guaranteed Maturity Addition
Riders

There are no additional riders in this plan

Benefits

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Death Benefit

In case of death of the Life Insured, the nominee receive:
Option 1: (Available to all ages) Death Benefit is the higher of the Sum Assured or 10 times the Annualized Premium 105% of total premiums paid.

Option 2: (Available to age at entry 45 and above) Death Benefit is the higher of the
Sum Assured or 7 times the Annualized Premium 105% of total premiums paid.

Money Back Benefit

The Life Insured would receive % of the base Sum Assured every 5 years. The following benefits

Policy Year 10 years 20 years 30 years 40 years 50 years
5th 50% 25% 16.67% 12.5% 10%
10th 50% 25% 16.67% 12.5% 10%
15th - 25% 16.67% 12.5% 10%
20th - 25% 16.67% 12.5% 10%
25th - - 16.67% 12.5% 10%
30th - - 16.67% 12.5% 10%
35th - - - 12.5% 10%
40th - - - 12.5% 10%
45th - - - - 10%
50th - - - - 10%
Regular Monthly Payouts

The policy pays 1% of the Sum Assured every year as a monthly payout which increases by 0.25% every year

Guaranteed Loyalty Addition

This Policy offers Guaranteed Loyalty Addition on survival at the end of the Premium Paying Term

Guaranteed Loyalty Addition = 1% of Sum Assured X Premium Paying Term

Guaranteed Maturity Addition

This Policy offers Guaranteed Maturity Addition on survival at the end of the Policy Tenure

Guaranteed Maturity Addition = 1% of Sum Assured or Paid Up Sum Assured X Policy Tenure

 

Maturity Benefit

At the maturity of the policy, the insured will get the final Lumpsum Amount of Money Back Benefit + Guaranteed Maturity Addition + the last payout of the Regular Monthly Payout and the policy will terminate.

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

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  Minimum Maximum
Sum Assured(in rs.) 1,00,000 No Limit
Policy Terms(in Years) 10/20/30/40 50
Premium Payment Term(in years) Half of The Policy Tenure
Entry Age of Life Assured(in years) 18 55
Age at Maturity(in years) 28 80
Payment Modes Yearly, Half-yearly, Quarterly and Monthly

FAQs

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angle down iconYou 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 within a period of 2 years from the due date of the first unpaid premium.

angle down iconYou want to surrender the policy

There is a Guaranteed Surrender Value after 3 policy years provided the first annualised premium has been paid in full

angle down iconGuaranteed Surrender Value

GSV Factor multiplied by total premiums paid less survival benefit

This plan also offers Special Surrender Value

angle down iconYou want a loan against your policy

Loan facility is not available under this policyupto 80% of Surrender Value.