Reliance Life Insurance Classic Plan

Reliance-life-insurance-plan

It is a unit linked insurance plan by Reliance Life Insurance. Minimum age at entry is 7 years. Maximum age at entry is 60 years.

Sum assured conditions

In Regular Premium

If the age at entry is less than 45 years, minimum sum assured will be higher of (10 times of the annualized premium) or (½ X policy term X annualized premium). If the age at entry is above 45 years, minimum sum assured will be higher of (7 times of the annualized premium) or (1/4 X policy term X annualized premium). If the entry age is between 7 and 11 years, maximum sum assured will be 30 times of the annualized premium with a maximum amount of Rs 5 Lakhs. If the entry age is between 12 and 50 years, maximum sum assured will be 30 times of the annualized premium. If the entry age is between 51 and 55 years, maximum sum assured will be 25 times of the annualized premium. If the entry age is between 55 and 60 years, maximum sum assured will be 20 times of the annualized premium.

In single premium policy

If the age at entry is less than 45 years, minimum sum assured will be 125% of the single premium. If the entry age is above 45 years, minimum sum assured will be 110% of the single premium. If the entry age is between 7 and 11 years with a policy term of 15 to 30 years, maximum sum assured will be 6 times of the single premium not exceeding Rs 5 Lakhs. If the entry age is between 12 and 30 years with a policy term of 15 to 30 years, maximum sum assured will be 6 times of the single premium. If the entry age is between 31 and 40 years, with a policy term of 26 to 30 years, maximum sum assured will be 5 times of the single premium. If the entry age is between 31 and 40 years with a policy term of 15 to 25 years, maximum sum assured will be 3 times of the single premium. If the entry age is between 41 and 50 years with a policy term of 15 to 25 years, maximum sum assured will be 5 times of the single premium. If the entry age is between 41 and 50 years, with a policy term of 26 to 30 years, maximum sum assured will be 2 times of the single premium. If the entry age is between 51 and 60 years, with a policy term of 15 to 24 years, maximum sum assured will be 2 times of the single premium.

Death benefit

Higher of sum assured or fund value will be provided. If the death is by any accident before 65 years (age), an additional amount equals to the sum assured will be provided. At any time, the minimum death benefit will be 105% of the total premiums paid.

Maturity benefit

Fund value will be the maturity benefit.

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