Reliance Life launches Super Money Back plan

Reliance Life Insurance, part of Reliance Capital, today launched Super Money Back Plan, a traditional non-participating plan that offers periodic guaranteed money back pay-outs and a monthly income along with life cover.

"Super Money Back Plan is aimed to provide a guaranteed regular income and security for the family. Even as the guaranteed periodic lump sums ensure financial support at crucial junctures of life, the increasing guaranteed monthly income provides an additional support to take care of increasing expenses," Reliance Life Insurance Chief Executive Officer Anup Rau said in a release issued here.

It offers guaranteed money back benefits every five years throughout the policy period along with an increasing monthly income that starts after the premium payment term.

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 policy holder enjoys a guaranteed increasing regular monthly income till the end of the policy term.

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.

Super Money back plan is available for people between 18 years and 55 years with a minimum sum assured of Rs 1,00,000 and for policy terms – 10, 20, 30, 40 or 50 years.

The plan also provides guaranteed loyalty addition at the end of premium payment term and guaranteed maturity benefits at the end of the policy term.

It also offers regular monthly pay-out after the end of premium payment term that increases every year at three per cent and is paid till maturity or death of the life insured, whichever is earlier.

"Super Money Back Plan for those who want to limit their premium payment commitment period but would like to enjoy life protection and regular income and need financial aid periodically during the policy term," Rau added.

EDITORIAL OF THE DAY

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

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

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture