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

    Create a legacy for your family

  • 2

    Save for your child's education

  • 3

    Save for your retirement

  • 4

    Choose to stay protected for whole life

  • 5

    Enhance your savings through bonus additions


Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Lifelong Savings:121N110V01
 Flexible Cover options:
 
  • Standard: Get a lump sum amount on maturity and a life cover during the policy term
 
  • Extended Cover:
 
Get a lump sum amount on maturity and a life cover during the policy term
 
Get an extended life cover for whole of life after the policy term
 
Savings with the comfort of guarantees:
 

At the end of the policy term, receive:

  • Accrued Guaranteed Additions: 4% of Base Sum Assured during the first five policy years
 
  • Guaranteed Maturity Benefit: Sum of Base Sum Assured and accrued Guaranteed Additions
 
  • Bonuses: Enhance your guaranteed savings through simple reversionary bonuses that accrue every year during the policy term starting from 6th  policy year, along with a terminal bonus, if any
 
Pay as you like:
 
  • Choose how long you want to pay – For 10 years (Limited Pay) or the entire policy term (Regular Pay)
 
  • Choose your premium payment frequency – Yearly, Half-yearly, Quarterly or Monthly
 
Liquidity: Loan facility is available during the policy term to meet unforeseen need
 
Tax benefits: Avail tax benefits on the premiums paid and 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 Lifelong Savings:121N110V01
 

Let’s take some examples:

Example 1: Standard Option

Raman, aged 35 years, aims to save for his child’s higher education and to protect his family during his earning years. He opts for Reliance Nippon Life  Lifelong Saving Plan, and:

  • Selects the Standard Cover Option with policy term of 15 years and Base Sum Assured of Rs. 3,00,000
 
  • Pays an annual premium of Rs. 23,823 p.a. (exclusive of taxes) for the entire term of 15 years (Regular Pay), assuming that he is in good health
 
  • Guaranteed Additions of Rs. 12,000 p.a. accrue in the policy during first five policy years i.e. a total of Rs. 60,000
 
  • Guaranteed Maturity Benefit which is equal to Base Sum Assured and all Guaranteed Additions payable will be Rs. 3,60,000
 
  • The maturity payouts are enhanced through Simple Reversionary Bonuses and Terminal Bonus, if any
 

Scenario I: If Raman, i.e. the Life Assured, survives till the end of the Policy Term, he receives:

Benefits

Amount (Rs.) @8%

Amount (Rs.) @4%

Base Sum Assured

3,00,000

3,00,000

Accrued Guaranteed Additions

60,000

60,000

Vested Reversionary Bonuses

1,05,000

37,500

Terminal Bonus

13,125

4,688

Total Benefit   

4,78,125

4,02,188


Reliance Lifelong Savings

Scenario II – In case of unfortunate demise of Raman at the end of 10th policy year:

Benefits

Amount (Rs.) @8%

Amount (Rs.) @4%

Sum Assured on Death

3,60,000

3,60,000

Vested Reversionary Bonuses

52,500

18,750

Terminal Bonus

3,281

1,172

Total Death Benefit

4,15,781

3,79,922

 

Example 2: Extended Cover Option

Ravi, aged 30 years, wants to save for his old age while also creating a legacy for his family. He opts for Reliance Lifelong Savings, and:

  • Selects the Extended Cover Option, policy term of 20 years and Base Sum Assured of Rs. 5,00,000
 
  • Pays an annual premium of Rs. 33,335 p.a. (exclusive of taxes) for the entire term of 20 years (Regular Pay), assuming that he is in a good health
 
  • Guaranteed Additions of Rs. 20,000 p.a. accrue in the policy during first five policy years i.e. a total of Rs. 1,00,000
 
  • Guaranteed Maturity Benefit which is equal to Base Sum Assured and all Guaranteed Additions payable will be Rs. 6,00,000
 
  • The maturity payouts are enhanced through Simple Reversionary Bonuses and Terminal Bonus, if any
 
  • Gets a life cover even after the policy term i.e. during the extended period, equal to the higher of the Base Sum Assured or 105% of the annualised premiums paid as on the date of death

 

Scenario I: If Ravi, i.e the Life Assured, survives till at the end of the Policy Term, he receives

Benefits

Amount (Rs.) @8%

Amount (Rs.) @4%

Base Sum Assured

5,00,000

5,00,000

Accrued Guaranteed Additions

1,00,000

1,00,000

Vested Reversionary Bonuses

262,500

93,750

Terminal Bonus

49,219

17,578

Total Benefit

911,719

711,328

 

 

Scenario II

  • Death during the policy term - In case of unfortunate demise of Ravi at the end of the 11th policy year  (at age 40 years)
 

Benefits

Amount (Rs.) @8%

Amount (Rs.) @4%

Sum Assured on Death

6,00,000

6,00,000

Vested Reversionary Bonuses

1,05,000

37,500

Terminal Bonus

7,875

2,813

Death Benefit paid to the nominee

7,12,875

6,40,313

 

  • Death after the policy term - In case of an unfortunate demise of Ravi in the 70th policy year (at age 100 years), the nominee shall receive the lump sum death benefit of Rs. 7,00,035, which is higher of the Base Sum Assured and 105% of total annualised premiums paid as on the date of death.
This amount is in addition to the Maturity Benefit which was given to Ravi at the end of the 20th policy year
 

 

 

 

 



Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Nippon Life Lifelong Savings:121N110V01
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).