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  • 5 Reasons
    To Buy
  • Benefits
  • How this
    Plan Works
Our demands keep rising, a bigger car, a bigger house, better education for our children and an overall better lifestyle. To keep up with these growing needs at every stage of life, we need a savings plan that can also safeguard our future.

Presenting Reliance Nippon Life Bluechip Savings Insurance Plan that helps you accumulate your savings for your financial needs at every stage of life. The plan additionally offers you the flexibility to choose an appropriate life cover which protects your family against any unforeseen eventualities.

  • 1

    Save for your child’s education

  • 2

    Pre-pay your home loan

  • 3

    Upgrade your lifestyle

  • 4

    Save for your retirement needs

  • 5

    Save up for that dream vacation


Disclaimer
Insurance is the subject matter of the solicitation. Tax laws are subject to change, consulting a tax expert is advisable. This product brochure gives only the salient features of the plan and it is only indicative of terms, conditions, warranties and exceptions. This brochure should be read in conjunction with the benefit illustration and policy exclusions. For further details on all the conditions, exclusions related to Reliance Bluechip Savings Insurance Plan, please contact our insurance advisors. 
 
UIN for Reliance Nippon Life Bluechip Savings Insurance Plan: 121N103V01
Maturity Benefits

On survival of the Life Assured till maturity, provided the policy is in-force and all due premiums have been paid, the sum of the following benefits will be payable:

  • Guaranteed Sum Assured on Maturity
  • Vested Reversionary Bonuses and Terminal Bonus, if any

 
Where Guaranteed Sum Assured on Maturity is equal to Base Sum Assured plus all Guaranteed Additions (GAs) applicable at maturity. GA equal to 7% per annum of BSA will accrue at the end of each policy year till the premium payment term, subject to all due premiums are paid and the policy is in-force till that point in time.

Simple Reversionary Bonuses will be declared during the policy term, starting from first policy year, which shall accrue at the end of each year. Terminal bonus, if any, will be payable on death or maturity from the 10th policy year onwards.

Death Benefit

The following Death Benefit options are available under the plan

Death Benefit Option

Death Benefit Option

Death Benefit Multiple

10 X

10

7X

7

 
On death of the Life Assured during the policy term, provided the policy is in-force as on the date of death and all due premiums have been paid, the nominee will receive higher of :

  • Sum Assured on Death plus Vested Reversionary Bonuses and Terminal Bonus, if any
  • 105% of all the premiums paid, excluding the underwriting extra premiums, as on the date of death

Where Sum Assured on Death is the highest of: 

  • Annualised Premium * Death Benefit Multiple
  • Base Sum Assured
  • Guaranteed Sum Assured on Maturity


At inception of the policy, you can choose Death Benefit Multiple based on the age at entry, premium payment term and policy term as per the following table:

PPT

Policy Term

Age at entry

8-45

46-50

51-55

56-60

5

10-12

10X

7X

NA

NA

13-15

10X/7X

7X

7

10-11

7X

NA

12-14

10X/7X

7X

15

10X/7X

7X

10

12-13

7X

NA

14-15

10X/7X

7X

Disclaimer
Insurance is the subject matter of the solicitation. Tax laws are subject to change, consulting a tax expert is advisable. This product brochure gives only the salient features of the plan and it is only indicative of terms, conditions, warranties and exceptions. This brochure should be read in conjunction with the benefit illustration and policy exclusions. For further details on all the conditions, exclusions related to Reliance Bluechip Savings Insurance Plan, please contact our insurance advisors. 
 
UIN for Reliance Nippon Life Bluechip Savings Insurance Plan: 121N103V01

Let’s take an example:

  • Ravi, aged 35 years, opts for Reliance Nippon Life Bluechip Savings Insurance Plan and chooses to pay an annual premium of Rs. 50,000 p.a. (exclusive of taxes and assuming that he is in good health), for a premium payment term of 7 years and policy term of 15 years.
  • For this scenario the following table will be applicable:

 

Policy Term

Premium Payment Term

Base Sum Assured

Level of life cover           (Death Benefit Option)

15 years

7 years

  1. 2,18,111

Option 10X

 

  • In this case the premium rate is 229.24 per Rs. 1000 of Base Sum Assured. Hence, the Base Sum Assured for this policy is (1000 x 50,000) / 229.24 = Rs. 2,18,111
  • Gets sum of Base Sum Assured, Accrued Guaranteed Additions, Vested Reversionary Bonuses and Terminal Bonus, if any, at the end of the Policy Term
  • In the unfortunate event of his demise during the policy term, his nominee will receive a lump sum amount as death benefit.

 

Scenario II – In case of unfortunate demise of Ravi at the end of 3rd policy year:

Ravi has paid premiums of Rs. 1,50,000 in 3 policy years, while his nominee receives:

Nominee Receives

Amount

(Rs.) @8%

Amount (Rs.) @4%

Sum Assured on Death*

5,00,000

5,00,000

Vested Reversionary Bonuses

35,988

14,722

Terminal Bonus

0

0

Total Benefits

5,35,988

5,14,722

 

*Where Sum Assured on Death is the highest of Annualised Premium * 10, Base Sum Assured and Guaranteed Sum Assured on Maturity. Please refer to the section on death benefit for further details.



Disclaimer
Insurance is the subject matter of the solicitation. Tax laws are subject to change, consulting a tax expert is advisable. This product brochure gives only the salient features of the plan and it is only indicative of terms, conditions, warranties and exceptions. This brochure should be read in conjunction with the benefit illustration and policy exclusions. For further details on all the conditions, exclusions related to Reliance Bluechip Savings Insurance Plan, please contact our insurance advisors. 
 
UIN for Reliance Nippon Life Bluechip Savings Insurance Plan: 121N103V01
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  • Shivrana Jinsiwal

    Patna

    “I am sure about the benefits that I will get after maturity...“

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    Mumbai

    “Kudos to the team for the excellent work....“

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    Karnataka

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