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

    Create a second income to support your growing needs

  • 2

    Protect your family's future with a life cover

  • 3

    Upgrade your lifestyle from time-to-time with easy liquidity

  • 4

    Pay for a short term and avail benefits for the long term

  • 5

    Avail tax benefit under 80C


Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Future Income:121N109V01
Savings and Income
 
  • Receive an annual income at the end of every year after the premium payment term till policy maturity
 
  • At policy maturity receive a lump sum benefit to fulfill your dreams

 

Flexibility: Choose to pay premiums for a term of 7 to 12 years

 

Protection for your family
 
  • Get life cover for the entire policy term
 
  • Option to enhance your protection cover through riders

 

Liquidity: Choose to avail of a loan anytime during your policy term

 

Tax benefits:  Avail tax benefits on premiums paid  and on benefits received, as per 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 Future Income:121N109V01
Let’s take an example:
 

Nikhil, aged 30 years, is a salaried employee and stays with his wife Anita and their 5 year old daughter Mansi. He wants Mansi to get the best of the education and to grow in to an independent career woman. He wants to save money while he is in the peak of his career, and create an avenue with a regular stream of income to take care of his daughter’s higher education expenses in later years.

Nikhil opts for Reliance Nippon Life Future Income with a Base Sum Assured of Rs. 3,00,000 and policy term 20 years, assuming he is in good health he pays a premium of Rs. 28,302 p.a. (excluding taxes) for 10 years

Scenario I: If Nikhil, i.e. the Life Assured, survives till the maturity date, he receives benefits as mentioned below: 

  • Simple Reversionary Bonus will accrue during the premium payment term
 
  • Assuming an estimated return of 8% the vested Simple Reversionary Bonuses shall be Rs. 1,29,000
 
  • Base Sum Assured along with the vested Simple Reversionary Bonuses shall be used to provide an annual income benefit at the end of every subsequent policy year after the premium payment term, i.e. (Base Sum Assured + vested Simple Reversionary Bonus) x Income Benefit Factor
 
  • For Policy Term of 20 years the Income Benefit factor is 10%, thus the Income Benefit payable at the end of every policy year after  the premium payment term at an estimated return of 8% shall be (3,00,000 + 1,29,000) x 10% = Rs. 42,900
 
  • At the end of policy term, Nikhil will receive a lump sum benefit of Rs. 1,00,950 (last installment of the Income Benefit along with the Terminal Bonus)
 

Estimated returns

@  8%

@  4%

Income Benefit  p.a. (Rs.)

42,900

34,500

Terminal Bonus  (Rs.)

58,050

20,250

Total Benefits received (Rs.)

4,87,050

3,65,250

 

Scenario II – In case of unfortunate demise of Nikhil at the end of the 8th policy year (during the premium payment term):

Benefits

@ 8%

@ 4%

Sum Assured on Death (Rs.)

3,00,000

3,00,000

Vested Reversionary Bonus (Rs.)

1,03,200

36,000

Terminal Bonus (Rs.)

15,480

5,400

Total Death Benefit (Rs.)

4,18,680

3,41,400

 

Scenario III – In case of unfortunate demise of Nikhil in the 13th policy year (after the premium payment term):

Nikhil would have already received two installments of Income Benefit, therefore Income Benefit received before death:

Estimated returns

@  8%

@  4%

Income Benefit  p.a. (Rs.)

42,900

34,500

Total Income Benefits received (Rs.)

85,800

69,000

 

The benefit payable on death after the premium payment term shall be 

Benefits

@ 8%

@ 4%

Sum Assured on Death (Rs.)

3,00,000

3,00,000

Vested Simple Reversionary Bonus (Rs.)

1,29,000

45,000

Terminal Bonus (Rs.)

35,475

12,375

Total Benefit

464,475

357,375

Less

 

 

Simple Reversionary Bonuses already paid as a part of income benefit (2 installments)

25,800

9,000

Total Death Benefit (Rs.)

4,38,675

3,48,375



Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Future Income:121N109V01
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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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  • Vanita Damodar Vangera

    Karnataka

    “Payment is easy and quick. You get all the details on phone....“

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