Other Details

  • Premium Payment Mode: Only regular premium payment mode is allowed under this plan.

  • Grace period: There is a grace period of 30 days from the due date for payment of regular premiums. In case of monthly mode, the grace period is of 15 days.

  • Loan facility: Loans will be available under the policy up to 80% of the surrender value under the basic plan after the policy acquires a surrender value.

  • Surrender conditions:

    1. For Policies having a 14 year term: The policy will acquire a surrender value provided the first two annualized premiums are paid in full. The surrender value will be available after completion of two policy years.
    2. For Policies having a 20 year term: The policy will acquire a surrender value provided the first three annualized premiums are paid in full. The surrender value will be available after completion of three policy years. The surrender value will depend on the year of surrender and the policy term.


  • Nomination: Nominations will be allowed under this plan as per Section 39 of the Insurance Act, 1938.

  • Assignment: Assignment will be allowed under this plan as per section 38 of the Insurance Act, 1938.

  • General Exclusion: If the life insured, whether sane or insane, commits suicide within 12 months from the date of commencement of this policy or the date of any revival of the policy, the death benefit will be limited to the accrued surrender value of the policy, if any and the company will not pay any insured benefit.

  • Tax benefits: Income Tax benefits under the policy will be as per the prevailing Income Tax laws. Service tax and Education Cess will be charged extra as per applicable rates. Tax laws are subject to amendments from time to time and interpretations. You are advised to consult a tax expert.

  • Free Look : In the event you disagree with any of the terms and conditions of the policy, you may return the policy to the Company within 15 days for all distribution channel except for Distance Marketing* channel, which will have 30 days of its receipt for cancellation, stating your objections in which case you shall be entitled to a refund of the premium paid, subject only to a deduction of a proportionate risk premium for the period on cover and the expenses incurred by the insurer on medical examination of the life assured and stamp duty charges.
Disclaimer
For more details on risk factors, terms and conditions please sales brochure carefully before concluding a sale. UIN for Reliance Life Insurance Super Endowment Plan: 121N088V01, Reliance Term Life Insurance Benefit Rider: 121C009V01, Reliance New Major Surgical Benefit Rider: 121C014V01, Reliance New Critical Conditions (25) Benefit Rider: 121C012V01, Reliance Life Insurance Family Income Benefit Rider: 121C015V01, Reliance Accidental Death and Total and Permanent Disablement Rider: 121C002V01

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