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  • 5 Reasons
    To Buy
  • Benefits
  • How this
    Plan Works
 
  • 1

    Protect your child's future even in your absence.

  • 2

    Be 100% confident about your child's future.

  • 3

    Allow your children to choose their own destiny.

  • 4

    Choose a specialist plan as per your child's future needs.

  • 5

    Plan never to compromise on your child's development.


Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Education Plan:121N106V01
  • Guaranteed achievement of your child’s future dream: Receive guaranteed benefits at maturity of the policy, even in your absence
 
  • Choose your benefit Payout Option
    • Self Starter: A single lump sum for your child’s ambition
    • Post Graduation Degree: 2 annual payouts for your child’s post-graduation
    • Professional Degree: 4 annual payouts for your child’s professional degree
    • Career Starter: 5 annual payouts to fund your child’s higher education and provide a career launch pad
 
  • Protect your child’s future even in your absence
    • Choose between two Death Benefit options:
      • Option I - 100% of Death Benefit as an immediate lump sum on death
      • Option II - 50% of Death Benefit as a lump sum on death and remaining as an income for next 10 years
    • On death, all future premiums are waived and the plan benefits continue
    • Enhance your protection coverage through riders at a minimal cost

  • Pay as you like: Choose how long you want to pay – 5, 7, 10 years or Regular Premium
     
  •  Liquidity: Avail loan facility to meet unforeseen needs 

  • Tax benefits: Avail tax benefits, as per the applicable income tax laws
Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Education Plan:121N106V01

Let’s take an example:

Rohan, aged 30 years, opts for Reliance Nippon Life Education Plan to secure the bright future of his less than one year old son, Rahul.

Rohan understands that his son, Rahul, needs a comprehensive education plan to take care of all education related expenses such as initial admission, tuition fees in subsequent academic years and funds to cover expenses after completion of education. Hence, he:

  • Chooses:

Policy Term

Premium Payment Term

Base Sum Assured

Death Benefit Option

Payout Option

18 years

7 years

249,270

Option II

Career Starter

  • Pays an annual premium of Rs.35,000 p.a. (exclusive of taxes), assuming that he is in good health

  • Gets Base Sum Assured, accrued Guaranteed Additions and accrued Guaranteed Maturity Additions after end of the policy term as per the Payout Option selected

Scenario I:

Rohan, i.e. Life Assured, survives till maturity of the policy and his son, Rahul, attains an age of 18 years. Now, Rohan  is prepared to fulfill his son’s dream of studying in a reputed university for a 5 years Degree course.

With “Career Starter” Benefit Payout Option, Rahul will receive the following amount to pay for his educational expenses:

Payout Option

At Maturity

2nd Year

3rd Year

4th Year

5th Year

Total

Career Starter

20% of the BSA + GA

20% of the BSA

20% of the BSA

20% of the BSA

(20% of the BSA + GMA) * 132.76%

 Rs. 488,615

 

Rs  49,854

Rs  49,854

Rs  49,854

 Rs. 199,462

 

Reliance Education Plan

 

Scenario II:

In case of Rohan’s unfortunate demise during the 5th policy year, Death Benefit amount payable is Rs. 428,744.  Rohan opted for Death Benefit Option II. Hence, this amount can be utilized to support his family in the following manner:  

  • 50% of Death Benefit as an immediate lump sum on Death i.e. Rs. 214,372
  • Remaining Death Benefit amount will be paid as an annual income for next 10 years, with each installment equal to 12.94% of 50% of total Death Benefit, i.e. Rs.  27,740 p.a.
  • Rahul will also receive all policy benefits to complete his education as planned by his father

 

Benefits to Rohan’s Nominee

Amount (Rs.)

Death Benefit

50 % of Death Benefit as a lump sum

214,372

50 % of Death Benefit will be paid every year for next 10 years

27,740

Total Death Benefit

 

491,772

Maturity Benefit for Career Starter Payout Option

At Maturity: 20% of the BSA + GA

139,591

2nd Year: 20% of the BSA

49,854

3rd Year: 20% of the BSA

49,854

4th Year: 20% of the BSA

49,854

5th Year: (20% of the BSA + GMA) * 132.76%

199,462

Total Maturity Benefit

488,615

Total Benefits

980,387

 
 
Reliance Education Plan
Scenario III:

In case of Rohan’s unfortunate demise during the 17th policy year, Death Benefit amount payable is Rs. 428,744.  Rohan opted for Death Benefit Option II. Hence, this amount can be utilized to support his family in the following manner: 

  • 50% of Death Benefit as an immediate lump sum on Death i.e. Rs. 214,372
  • Remaining Death Benefit amount will be paid as an annual income for next 10 years, with each installment equal to 12.94% of 50% of total Death Benefit, i.e. Rs.  27,740 p.a.
  • Rahul will also receive all policy benefits to complete his education as planned by his father
 

Benefit to Rohan's Nominee

Amount(Rs.)

Death Benefit

50% of Death Benefit as a lump sum

214,372

50% of Death Benefit will be paid every year for the next 10 years

27,740

Total Death Benefit

492,132

Maturity Benefit for Career Starter Payout option

At Maturity: 20% of the BSA + GA

139,591

2nd Year: 20% of the BSA

49,854

3rd Year: 20% of the BSA

49,854

4th Year: 20% of the BSA

49,854

5th Year: (20% of the BSA + GMA)*132.76%

199,462

Total Maturity Benefit

488,615

Total Benefits

980,747

 
Reliance Education Plan


Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Education Plan:121N106V01
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    Patna

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