Reliance Life Insurance launches super endowment plan

Tags: News
Reliance Life Insurance, a part of Reliance Capital, today announced a new plan that offers guaranteed life cover and maturity benefits.

The plan Reliance Life Insurance Super Endowment Plan would provide life insurance coverage for the full policy term by paying for just half of the selected policy period, a company statement said.

"This new product is in line with our philosophy to enable customers across all income segments to insure their life and provide security to their dependents," Reliance Life Insurance Chief Executive Officer Anup Rau said.

The new plan is available for customers in the age group 8-60 years with a minimum sum assured of Rs 1 lakh. The policyholder can opt for two policy terms – 14 years or 20 years.

An interesting feature of the policy is that the premium payment term is only half the policy term - 7 years for a 14 year policy; and 10 years for a 20 year policy – while the Life Cover is valid for the entire period.

"This is ideal for people who want to limit their premium payment commitment period but like to enjoy Life Cover for a longer time. Policyholders will be entitled for guaranteed maturity benefits at the end of the policy period," Rau said.

Reliance Life Insurance is one of India's top private sector life insurance companies with business premium, including renewal premium of over Rs 5,498 crore for the year ended March 31, 2012.

EDITORIAL OF THE DAY

  • Because our politicians elbowed out our teachers on Teachers’ Day

    The Swachch Bharat campaign made the highest leaders sweep. Teachers’ Day is making them teach.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Sachin Shridhar

Crouching tiger, hidden dragon

The Chinese are consummate gamblers. If you visit a casino ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture