Reliance Life Insurance, a part of Reliance Capital, has launched its new offering ‘Reliance Super Money Back Plan’, a traditional non-participating plan that provides periodic guaranteed money back pay-outs and a monthly income along with life cover.

The plan offers guaranteed 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.

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

“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 lumpsums 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 fulfil the goals of the family,’’ Anup Rau, Chief Executive Officer, Reliance Life Insurance, said in a statement.

Life cover

Reliance Super Money back Plan also provides life insurance cover for the full policy term by paying premiums for just half of the selected policy tenure. For a 50-year policy, the policyholder has to pay premium for only 25 years. 

The guaranteed money back payouts start from the fifth 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.

srivats.kr@thehindu.co.in

More Like This

Published on January 27, 2014