It takes a lot for a dream to become a reality. And money is surely one of them.

Reliance Endowment Plan gives you just the financial independence to realise your dreams in the future. It lets you decide how much you would like to set as your sum assured based on your current financial position and your expected future expenses.

Key Features

• On maturity receive Sum Assured plus bonuses
• Wealth creation through bonus additions
• More value for your money by way of High Sum Assured Rebate
• Increase your insurance protection by adding Term Cover
• Choose to pay regular or single premium
• Choose to add the benefit of two riders - Critical Illness Rider and Accidental Death Benefit & Total and Permanent Disablement Rider
• Choose to avail of a Policy Loan after three full years’ of premium payment

Benefits
Maturity Benefit: On maturity you get Sum Assured plus accumulated bonuses (if any) till that date.

Life Cover Benefit: In the unfortunate event of loss of life, your family will receive the Sum Assured plus accumulated bonuses (if any) till that date.

Rider Benefit: You also have the option to add three additional benefits to customize the Policy as per your needs for the regular premium plan

1. Term Life Insurance Benefit Rider
2. Accidental Death Benefit & Total and Permanent Disablement Rider
3. Critical Illness Rider

Term Life Insurance Benefit Rider
Add the advantage of the Term Life Insurance Benefit rider to your basic Policy and increase risk coverage.

In the event of unfortunate loss of life the Term Life Insurance Benefit is payable and the amount payable is equal to the rider Sum Assured.

There is no Maturity Benefit.

Accidental Death Benefit & Total and Permanent Disablement Rider
Accidents are unfortunate and sometimes fatal. You can customise your basic Policy with an Accidental Death Benefit & Total and Permanent Disablement Rider.

The Accidental Death Benefit is payable if death occurs directly as a result of an accident and is intimated within 90 days of the occurrence.

The Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured is Rs 25,000 and the maximum under all Policies taken together is Rs 50,00,000.

The Total and Permanent Disablement Benefit is payable if the Life Assured becomes totally and permanently disabled directly as a result of an accident.

The Disability Benefit is equal to the basic Sum Assured paid in ten equal annual installments

Total and Permanent Disablement is defined as the total and irrecoverable loss of sight of both eyes, or loss by severance of two limbs at or above wrist or ankle, or total and irrecoverable loss of the sight of one eye and loss by severance of one limb at or above wrist or ankle for a period of at least six months.

Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then Reliance Life Insurance will waive all future premiums under the basic Policy and riders up to a limit of Rs 40,000 p. a.

Exclusions
The Company will not pay any Accidental Death Claim or Total and Permanent Disablement Claims which results directly or indirectly from any one or more of the following:

• An act or attempted act of self-injury,
• Participation in any criminal or illegal act,
• Being under the influence of alcohol or drugs except under direction of a registered medical practitioner,
• Racing or practicing racing of any kind other than on foot,
• Flying or attempting to fly in, or using or attempting to use, an aerial device of any description, other than as a fare paying passenger on a recognised airline or charter service,
• Participating in any riot, strike or civil commotion, active military, naval, air force, police or similar service, or
• War, invasion, act of foreign enemies, hostilities or war like operations (whether war be declared or not), civil war, mutiny, military rising, insurrection, rebellion, military or usurped power or any act of terrorism or violence.

Critical Illness
Sudden onset of a major illness causes worries and heavy expenses. Our optional Critical Conditions Cover helps provide financial relief in such cases. It pays you the Sum Assured upfront in respect of ten major illnesses.

1. Cancer
2. Coronary Artery Bypass Surgery
3. Heart Attack
4. Stroke
5. Kidney Failure
6. Aorta Surgery
7. Coma
8. Heart Valve Replacement
9. Major Organ Transplant
10. Paralysis

This Benefit can be availed only once against any one of the illnesses and the Company will not pay the claim if it arises from deliberate self-injury or attempted suicide by the Life Assured, whether sane or insane. This benefit will only be given, if the diseases are confirmed by a Consultant Physician.

Exclusion with Critical Illness
Cancer: any CIN stage (cervical intraepithelial neoplasia); any pre-malignant tumour; any non-invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers including malignant melanoma stage IA (T1a N0 M0); any malignant tumour in the presence of any Human Immunodeficiency Virus.

Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with elevation of Troponin I or T; other acute Coronary Syndromes.

Stroke: Transient ischemic attacks (TIA); neurological symptoms due to migraine.

Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial procedures; key-hole surgery.

Paralysis: Paralysis due to Guillain-Barré-Syndrome.

Waiting and Survival period
The Company will not pay the Critical Illness Benefit if:

• The critical illness begins prior to or within six months of the commencement date or date of reinstatement of the Benefit - Waiting Period
• Death from critical illness takes place within 30 days of the onset of the same – Survival Period

Flexibility
These riders may be attached to your Policy at the beginning or at any Policy Anniversary during the term of the Contract, subject to underwriting conditions prevailing at that time.

Sum assured for Critical Illness Rider may be increased or decreased by the Policyholder:

• The increase is subject to underwriting conditions
• Once decreased, further increases will not be allowed

The Contract can be terminated and opted for only once, by the Policyholder at any time. Though above are general conditions of the rider, we may specify restrictions (like time of exercise) on the above options. Such restrictions would be filed along with the based product filing.

Sample Illustration:
The tables below show the indicative annual premiums for individual Life Assured across different Sum Assured and ages for a Policy Term of 20, 25 and 30 years.

Indicative Maturity Benefit:
The table below shows the indicative Maturity Benefits for different Sum Assured levels for an individual across different terms.

(The above Maturity Benefits are calculated for an illustrative gross investment return of 6% & 10% as stipulated by IRDA.)

What is the Policy Term?

Who can buy this product?

What is the Sum Assured?

Savings and accumulation through bonuses
The Company will declare compounded reversionary bonus which is payable at maturity or on death whichever is earlier.

More value for money – High Sum Assured Rebate
Reliance Endowment Plan offers an attractive premium discount for Sum Assured over and above Rs 99,999.

For example, as per the tabular premium rates, the Annual Premium for a 30 year old male, a 25 year policy of Rs 5 lakh Sum Assured comes to Rs 19,165 before the High Sum Assured Rebate. After the High Sum Assured Rebate, the premium is Rs 17,665.

Tax benefits
Premiums paid are eligible for tax deduction under Section 80C & 80D of the Income Tax Act, 1961. Maturity & Death Benefit is 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)

Can I take a loan against my Policy?
The Policy loan can be up to a maximum of 90% of the Surrender Value of the Policy at the time of taking the loan based on the terms and conditions at that time.

This facility is available on your regular premium plan after payment of 3 full years premium and after 3 years have elapsed from date of commencement of the Policy. However this facility is available immediately, in case of the single premium plan. The interest will be charged on any outstanding loan at a rate of interest set by us, from time to time.

What happens if I discontinue paying premium?
During the first three years, if premiums are not paid within the grace period the policy will lapse.

If you discontinue paying premium after paying premium for three full years’, then your policy will be converted in to a paid-up policy for a reduced Sum Assured determined in the same proportion as the amount of premiums actually paid bears to the total amount of premiums payable. The life insurance protection will continue to the extent of the paid-up value until the end of the policy term.

Any accumulated bonuses attached to this policy will remain attached in full. Once this policy becomes “paid-up”, no further bonuses are payable. You will receive the “paid-up” Sum Assured plus bonuses on the maturity date of the policy or in the event of loss of life.

What if I want to discontinue the Policy?
You have the option to Surrender your Policy and receive the Surrender Value. If your Policy has accumulated any bonuses, then you will also receive the cash value of that total amount upon surrendering your Policy.

Your single premium plan acquires a surrender value as soon as you pay your premium. We guarantee a minimum surrender value of 70% of the single premium paid excluding any extra premium plus the cash surrender value of any vested bonuses.

Your regular premium plan acquires a surrender value after 3 years’ premium has been paid and after three years have elapsed from date of commencement of Policy. We guarantee a minimum surrender value of 30% of the total premiums paid (excluding any extra premiums and premiums for additional benefits) subsequent to the first year premium, plus the cash surrender value of any vested bonuses.

On surrender, the insurance protection provided under the policy will also cease.

Can I revive a policy which is lapsed?
A lapsed Policy can be reinstated for full benefits anytime before the date of maturity at terms and conditions required by the Company.

Flexible Premium Payment Modes

1. Yearly with minimum premium payment of Rs. 2,000
2. Half-yearly with minimum premium payment of Rs. 1,500
3. Quarterly with minimum premium payment of Rs. 750
4. Monthly (only with salary deduction schemes) with minimum premium payment of Rs. 250
5. Single Premium with minimum premium payment of Rs. 25,000

Grace period
Regular Premium- one month or 30 days from the due date for payment of premiums Monthly Premium - 15 days

General Exclusion
We will not pay any claim on death of 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 days 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.