• 5Reason_to_buy_3.png
  • benefits_active_3.png
  • how_planWorks_active_3.png
  • 5 Reasons
    To Buy
  • Benefits
  • How this
    Plan Works
 
  • 1

    Gift yourself a monthly income that increases every year

  • 2

    Plan your savings to receive a lump sum at the end of the term

  • 3

    Shield yourself against rising expenses

  • 4

    Pursue your passion without the worry of a monthly income

  • 5

    Safeguard your family from any eventuality


Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Increasing Income Insurance Plan:121N108V01

Based on your requirements, at policy inception you may choose between the following two income options:

  • Income with Maturity Benefit: Receive regular monthly income that increases every year and get at lump sum amount at Maturity
  • Only Income: Get a higher regular monthly income that increases every year

Increasing Income Benefit

You will receive a Guaranteed Monthly Income (in arrears) after the end of the premium payment term on survival of the Life Assured at the end of every month till the end of the policy term.

  • Income with Maturity Benefit Option:Guaranteed Monthly Income is 1% of Base Sum Assured for the first payout year and will increase by 0.25% in subsequent years, at a simple rate.
  • Only Income Option:Guaranteed Monthly Income is 2% of Base Sum Assured for the first payout year and will increase by 0.50% in subsequent years, at a simple rate.

Maturity Benefit

Maturity Benefit is applicable only for Income with Maturity Benefit option. In such a scenario, on survival of the Life Assured to the end of the policy term, policyholder shall receive the Guaranteed Sum Assured on Maturity which is equal to two times the Base Sum Assured.

No maturity benefit is applicable for Only Income Option.

In case of unfortunate demise of the Life Assured during the policy term, provided the policy is in-force and all due premiums have been paid in full as on the date of death, the claimant(s) shall receive following benefits based on the Death Benefit Option chosen at inception

Death Benefit Option 10X

Death Benefit Option 7X

Higher of

  • Sum Assured on Death; or
  • 105% of the premiums paid (excluding extra premiums) as on date of death

Where Sum Assured on Death is higher of

  • 10 times Annualised Premium; or
  • Base Sum Assured; or
  • Guaranteed Sum Assured on Maturity

Higher of

  • Sum Assured on Death; or
  • 105% of the premiums paid (excluding extra premiums) as on date of death

Where Sum Assured on Death is higher of

  • 7 times Annualised Premium; or
  • Base Sum Assured; or
  • Guaranteed Sum Assured on Maturity

 

The above death benefit is payable irrespective of any guaranteed monthly income benefits already paid. The Policy will be terminated on payment of death benefit.

At inception of the policy, you can choose Death Benefit Option based on the age at entry, policy term and income option as per the following table:

Income Option

Policy Term

Age at entry

14-44

45-50

51-55

56-60

Income with Maturity Benefit

12,16,20

10X

10X / 7X

10X / 7X

7X

24

-

Only Income

12

10X

10X / 7X

7X

-

16,20

10X / 7X

7X

24

-

 
Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Increasing Income Insurance Plan:121N108V01
Example 1: Sanjeev, aged 30 years, opts for Reliance Nippon Life Increasing Income Insurance Plan and:
  • Selects the option of Income with Maturity Benefit, policy term of 24 years and Base Sum Assured of Rs. 1,00,000
  • Pays an annual premium of Rs. 22,966 p.a. (exclusive of taxes), assuming that he is in good health
  • Enjoys increasing Guaranteed Income which starts at the end of the premium payment term till maturity
  • Receives a Guaranteed Sum Assured on Maturity equal to twice (two times) the Base Sum Assured at end of the policy term
 
Scenario I: If Sanjeev, i.e. theLife Assured, survives till maturity:
 
 
Increasing Income Benefit:
 

Policy Year

Monthly Income (Rs.)

Total Income during the year (Rs.)

13

1,000

12,000

14

1,250

15,000

15

1,500

18,000

16

1,750

21,000

17

2,000

24,000

18

2,250

27,000

19

2,500

30,000

20

2,750

33,000

21

3,000

36,000

22

3,250

39,000

23

3,500

42,000

24

3,750

45,000

 

Maturity Benefit:

At the end of the policy term Sanjeev will receive Guaranteed Sum Assured on Maturity which is equal to twice the Base Sum Assured, i.e. Rs. 2,00,000

Scenario II: In case of Sanjeev’s unfortunate demise in the sixth policy year, his nominee receives a lump sum benefit of Rs. 2,29,660 and the policy gets closed.



Example 2: Kamal, aged 30 years, opts for Reliance Increasing Income Insurance Plan and:

  • Selects Only Income Option, Policy term of 24 years and Base Sum Assured of Rs. 1,00,000
  • Pays an annual premium of Rs. 31,728 p.a. (exclusive of taxes), assuming that he is in good health
  • Enjoys increasing Guaranteed Income which starts at the end of the premium payment term till maturity

Scenario I: If Kamal, i.e. the Life Assured, survives till maturity: 

Reliance Increasing Income Insurance Plan

 

Increasing Income Benefit:

Policy Year

Monthly Income (Rs.)

Total Income during the year (Rs.)

13

2,000

24,000

14

2,500

30,000

15

3,000

36,000

16

3,500

42,000

17

4,000

48,000

18

4,500

54,000

19

5,000

60,000

20

5,500

66,000

21

6,000

72,000

22

6,500

78,000

23

7,000

84,000

24

7,500

90,000

 

Scenario II: In case of Kamal’s unfortunate demise in the sixth policy year, his nominee receives a lump sum benefit of Rs. 3,17,280 and the policy gets terminated.

   

           



Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Increasing Income Insurance Plan:121N108V01
Contact me
Submit
More about this plan
Review
  • Shivrana Jinsiwal

    Patna

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

    Read More +
  • Shailesh Arya

    Mumbai

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

    Read More +
  • Vanita Damodar Vangera

    Karnataka

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

    Read More +

Share your feedback on
Comments
How did you find about RelianceLife.com
Please tell us about yourself
This Feedback is related to your experience with this website only. If you have any queries related to your Reliance Life Policy, please feel free to contact us at 3033 8181 / 1800 3000 8181 (Toll Free).