- A smart plan which adapts to your
changing risk profile with increasing age
- Option to lower the average cost of
units through systematic transfer of your funds
- Flexibility to switch between funds
and plans
- Options for additional Insurance
cover available through riders
- Two plan options to choose from
Ready-made and Tailor-made
- Life Stage asset allocation to ensure
automatic change in investment patterns, under the Ready-made
Plan option
- Freedom to decide your own fund mix
based on your risk profile under the Tailor-made Plan
- Regular, limited, single premium
paying options
- Unmatched flexibility through our
�Exchange Option�
- Liquidity in the form of partial
withdrawal
- Option to avail of Accidental Death
Benefit, Accidental Total, Premium Disability and Term
Insurance riders
As a customer you will have the liberty to choose between
the Ready-made and Tailor-made Plan options. The premium
contributions made by you, net of Premium Allocation Charges and
Sum Assured Related Charges are invested in fund/funds of your
choice and units are allocated depending on the price of units
for the fund/funds.
The Fund Value is the total value of
units that you hold in the fund/ funds. The Mortality Charges
and Policy Administration Charges are deducted through
cancellation of units, whereas the Fund Management Charge is
priced in the Unit Value.
| Basic Plan |
Minimum |
Maximum |
| Age at
Entry |
30
days |
65
years last birthday |
| Age at
Maturity |
18
years last birthday |
80
years last birthday |
|
Premium Paying Term |
5
years |
30
years |
|
Min Sum Assured |
Regular / Limited Premium: Annualised
Premium for 5 years or Annualised Premium for half of the
policy term, whichever higher |
|
Single Premium 125% of the single
premium amount |
| Max
Sum Assured |
No Limit |
To enable a better understanding on how the plan works,
please refer to the below table for Regular Premium.
|
Age of the customer |
30 |
35 |
40 |
45 |
| Annual
Premium Paid |
25,000 |
25,000 |
25,000 |
25,000 |
| Policy
Term |
15 |
15 |
15 |
15 |
|
Premium Paying Term |
15 |
15 |
15 |
15 |
| Sum
Assured |
1,87,500 |
1,87,500 |
1,87,500 |
1,87,500 |
Maturity Values:
at 6% investment return
at 10% investment return |
4,95,104
6,94,534 |
4,94,413
6,93,530 |
4,93,017
6,91,444 |
4,90,506
6,87,755 |
| |
Yearly |
Half Yearly |
Quarterly |
Monthly |
|
Regular Premium option |
Rs 10,000 |
Rs 5,000 |
Rs 2,500 |
Rs 1,000 |
|
Limited Premium |
Rs 20,000 |
Rs 10,000 |
Rs 5,000 |
Rs 2,000 |
| Single
Premium |
Rs 25,000 |
|
|
|
| Min
Top Up amount |
Rs 2,500 |
|
|
|
As per current tax rules premiums paid
are eligible for tax deduction under Section 80C of the Income
Tax Act, 1961. Provided the premium in any years during the term
of the Policy does not exceed 20% of the Sum Assured, maturity
and withdrawals are eligible for tax benefit under Section
10(10D). Death benefits are tax free under Section 10(10) D of
the Income Tax Act, 1961. Under Section 80C premiums up to Rs
100,000 are allowed as deduction from your taxable income.
Service tax and education cess will be
charged extra as per applicable rates.
Please note that all benefits payable
under the policy are subject to tax laws and other financial
enactments as they may exist from time to time. It is
recommended that you consult your tax advisor.
- The premium paid in Unit Linked Life
Insurance policies are subject to investment risks associated
with capital markets and the NAVs of the units may go up or
down based on the performance of fund and factors influencing
the capital market, and the insured is responsible for his/her
decisions.
- Reliance Life Insurance Company
Limited is only the name of the Insurance Company and Reliance
Automatic Investment Plan is only the name of the unit linked
life insurance contract and does not in any way indicate the
quality of the contract, its future prospects or returns.
- Tax laws are subject to changes with
retrospective effect and consulting a tax expert for an
opinion is recommended.
|