In today�s world of easily available loans, we often tend to neglect the price our loved ones have to pay in case of our untimely demise.

Reliance Credit Guardian Plan ensures that your housing loans, personal loans or even outstanding credit card bills are paid in the event of untimely demise. Thus keeping you and your family protected from the burden and the worry of debt in such a situation.

Key Features

• Different types of loans are covered under this Policy - housing Loans, Personal Loan, outstanding on credit cards etc
• Limited premium paying term
• Single & regular premium payment option Discount on premium rates for women
• Decreasing term insurance

How does this Plan work?
You pay premium every year for the premium paying term you choose. The Sum Assured decreases for a given interest rate as mentioned in the Policy Document. On death, your Nominee will get the Sum Assured.

No Survival Benefit is payable under this plan.

Benefits
In the unfortunate event of loss of life, the Nominee will receive the Sum Assured as per the Policy Schedule.

Sample Illustration
The tables below show the indicative premiums for a male Life Assured across different Sum Assured and ages for a Policy Term of 10, 20 and 30 years.

Regular Premium Payment

* Please note that the Premium Paying Term is 6, 13 & 20 years for the Policy Term mentioned above. The loan interest is assumed at 10%.

Single Premium Payment

What is the Policy Term?

Who can buy this product?

What is the Sum Assured?

Limited Premium Paying Term � With Regular Premium Option
The premium payment term is kept shorter than the Policy term. Hence you can protect your assets within a short period of time. The table below shows the Policy term and the difference in the paying term. For example: for a Policy term of 12 years, the premium paying term is 8 years (12-4) years.

Flexible premium payment modes?

1. Yearly
2. Half-yearly
3. Quarterly
4. Monthly (only with salary deduction schemes)
5. Single Premium

The Company will charge a Policy Fee, depending on the Premium Payment Mode Selected by you.

Advantage Women:
Women Policyholders have an advantage as they receive discount on premium paid. For the basic Policy, basic premium payable will be equivalent to the premium for a three-year younger male Policyholder.

What happens if I discontinue paying premium?
The Policy will lapse if the premiums are not paid within the grace period. However you have the option to revive the Policy within three years from the date of lapse subject to revival conditions.

The Policy is not eligible for any Paid-up or Surrender Value.

Grace Period
Regular premium - one month or 30 days from the due date for the payment of premiums.
Monthly premium - 15 days.

Tax Benefit
Premiums paid are eligible for tax deduction under Section 80C & 80D of the Income Tax Act, 1961. Maturity & Death Benefit are tax free under Section 10(10) D of the Income Tax Act, 1961. Under Section 80C, premiums upto Rs 100,000 are allowed as deduction from your taxable income. Under Section 80 D premium upto Rs 10,000 (Rs 15,000 for senior citizens) are allowed as deduction from your taxable income.
(80 D - Applicable to Critical Conditions Premium)

General Exclusion
We will not pay any claim on death if the Life Assured, whether sane or insane, commits suicide within 12 months from the date of issue of this Policy or the date of any reinstatement of this Policy.

15 Day Free Look Period
The Policyholder may cancel this Policy by returning it to the Company within 15 days of receiving it together with a letter requesting it be cancelled. The Company will refund the premium paid by the Policyholder less a deduction:

• of the proportionate premium for the time cover has been provided till cancellation
• of expenses incurred by the Company for medical examination of the Life Assured, Stamp Charges and expenses incurred in that connection.

Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states:
1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
2) Any person making default in complying with the provisions of this section shall be punishable with a fine which may extend to five hundred rupees.

Reliance Life Insurance is a fully licensed life assurance company registered with Insurance Regulatory & Development Authority (IRDA). Registration No: 121.