Retirement means different things to different people, while some want to relax and take a trip around the world, some want to start up a venture of their own, and pursue a dream harnessed for years.

The power to make your autumn years special lies only with you. The Reliance Golden Years Plan gives you the power and the right kind of solution - A retirement plan that allows you to save systematically and generate the much-needed corpus to make your olden years look golden.

UNDER THIS PLAN THE INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.

Key Features

• Invest systematically and secure your golden years
• A flexible unit-linked pension product that is different from traditional life insurance products with Vesting Age between 45 and 70 years
• Four different investment funds to choose from
• Flexibility to switch between funds
• Option to pay Regular, Single as well as Top-up Premiums
• Flexibility to advance/extend your Vesting Age
• Tax free commutation up to one third of Fund Value at Vesting Age

1. Life Annuity
2. Life Annuity with return of purchase price on death. Purchase Price is the amount of Fund Value used to purchase an annuity.
3. Life Annuity Guaranteed for 5, 10 or 15 years and payable for life thereafter

These options are currently available with Reliance Life Insurance Company Ltd. We may offer more annuity options in future.

What are the benefits available with Reliance Golden Years Plan?
At Vesting:

1. On vesting, you can purchase annuity plan for the full Fund Value
2. You may commute up to one third of Fund Value as tax free lump sum and the balance can be used for the purchase of annuity
3. Open Market Option: you can purchase an annuity either from Reliance Life Insurance Company Limited or from any other registered life insurance company.

At Death: In the unfortunate event of your death during the Policy term, the Beneficiary will get the Fund Value. This amount can be taken as a lump sum or an annuity can be purchased for the entire lump sum or portion of it. The Beneficiary will have the option to purchase an annuity either from Reliance Life Insurance Company Limited or from any other registered life insurance company.

What are the different fund options?
Reliance Life Insurance Company Limited understands the value of your hard earned money. In order to make your money grow we offer four different investment funds. You also have the option to allocate your premium in different funds in the manner you wish.

The four different funds offered are

1.Capital Secure Fund: The Investment Objective of this fund is to maintain the value of all contributions (net of charges) and all interest additions. This fund offers steady return for very little risk. The risk profile for this plan is low. Your funds are invested 100% in Bank Deposits, Government Bonds and Debt Instruments less than 180 days duration.

You may invest a maximum of 20% of the total premiums in the Capital Secure Fund.

2. Balanced Fund: The Investment Objective of this fund is to provide you with investment returns which exceed the rate of inflation in the long term while maintaining a low probability of negative investment returns. In this fund, a major portion of your funds are invested in Fixed Interest Securities while a small percentage is invested in the Equity Market, which is exposed to market movements. The risk profile of this fund is low to medium.

Investment would be atleast 80% in Fixed Interest Securities and maximum 20% in equities.

3. Growth Fund: The investment objective of this fund is to provide you with investment returns, which exceed the rate of inflation in the long term while maintaining a moderate probability of negative investment returns. A greater portion of your funds are invested in Fixed Securities while a small percentage is invested in the Equity Market, which is exposed to market movements. The risk profile of this fund is medium to high.

Investment would be at least 60% in Fixed Interest Securities and maximum 40% in Equities.

4. Equity Fund: The Investment Objective of this fund is to provide Policyholders with high exposure to equities and the possibility of investment returns which generate a high real rate of return in the long term while recognizing that there is a significant probability of negative investment returns in the short term. This fund offers a totally equity based investment option. Your returns depend entirely upon the performance of the equity market. The risk profile of this fund is high. The higher risk of this portfolio means that expected returns would also be higher.

Investments would not exceed 30% in Bank Deposits and may be 100% in equities.

The investment in Money Market Instruments under the Balanced, Growth and Equity funds is restricted to 20%.

Value of Units: The Unit Price of each fund will be the Unit Value calculated on a daily basis.

Flexibilities

Flexibility to pay top-ups: If you have received a bonus or some lumpsum money you can use that as a top-up to increase your investments at any time in your Policy. The minimum Top up amount is Rs. 2,500. 95% of any amount paid as top-up is allocated to your funds.

Flexibility to pay Single Premium: If you do not want to pay premium regularly, you can choose to opt for Single Premium. The minimum Single Premium amount is Rs 10,000.

Flexibility to switch between funds: Depending upon the performance of your funds you can switch between them. There will be one free switch in a Policy Year and for additional switches, Switching Charge of 1% of amount switched will be levied, subject to a maximum of Rs 1000 on each such occasion.

Flexibility to advance/extend your Vesting Age: You may choose to extend the Vesting Date to any later Policy Anniversary, provided the Policy vests before the attainment of age 70 years. The request for extending the Vesting Date must be made at least one month before the original Vesting Date.

After the Vesting Date, the benefit payable at any time will be the Fund Value.

The Policyholder may also choose an earlier Vesting Date, after completion of five years of Policy Term or age 45 years, whichever is later. The request for an earlier Vesting Date should be received at least one month before the proposed Vesting Date.

On attainment of the new Vesting Date the Policyholder is eligible to purchase Annuity for the full Fund Value or commute up to one third of the Fund Value as tax free lump sum and the balance can be used for the purchase of annuity. The annuity can also be purchased from us or from any other registered Life Insurance Company.

What is the Policy Term?

Who can buy this product?

What if I want to discontinue paying premium?
During first 3 years of the inception of the policy: If premiums have not been paid for at least three consecutive years from inception, the Policy will continue to participate in the performance of Unit Funds chosen by you.

You may revive the Policy by re-commencing the premium payment within the Revival Period from the date of first unpaid premium or before the Maturity Date of the Policy whichever is earlier.

In the event the Policy is not revived during Revival Period, the Policy shall be terminated and the Surrender Value, if any, shall be paid at the end of the period allowed for revival.

After paying of at least three full years premiums: If premiums have been paid for at least three consecutive years and subsequent premiums are unpaid, the Policy will continue to participate in the performance of the Unit Funds chosen by you.

You may revive the Policy by re-commencing the premium payment within a period of three years from the date of first unpaid premium or before the maturity date of the Policy, whichever is earlier. At the end of the allowed period for revival, if the Policy is not revived, the Policy shall be terminated by paying the Surrender Value.

If at any time, the Fund Value reaches an amount equivalent to one full year�s premium, the Policy shall be terminated by paying the Fund Value.

Revival
You may revive a Policy by recommencing the payment of premiums at any time within a period of three years from the due date of first unpaid premium but before the maturity date of the Policy.

What if I want to discontinue the Policy?
You may surrender your Policy after three years from commencement. The Surrender Value we will pay is a percentage of your Fund Balance according to the following table:

Are there any flexible Premium Payment Modes?

1. Single Premium with minimum premium of Rs 10,000
2. Yearly with minimum premium of Rs 10,000
3. Half-yearly with minimum premium of Rs 5,000
4. Quarterly with minimum premium of Rs 2,500
5. Monthly with minimum premium of Rs 1,000

Minimum top-up premiums is Rs. 2,500

Grace Period
Premiums due, have to be paid within the grace period of 30 days. 15 days for monthly mode.

Charges under the plan

1. Premium Allocation Charge:

2. Fund Management Charges:

* The Fund Management Charge is levied on daily basis at the time of computation of unit price.

3. Switching Charge: One free switch is allowed in each Policy Year. Subsequent switches will attract a charge of 1% of the amount switched subject to a maximum of Rs 1000 per switch. This charge will be recovered by cancellation of units.

4. Surrender Charges: The Surrender Charges as percentage of Fund Value are given below:

Revision of Charges
The Fund Management Charges are subject to revision at any time but they will not exceed 2% p.a. for the Capital Secure Fund and 2.5% p.a. for the Balanced, Growth and Equity Funds.

The change in the Fund Management Charges are subject to IRDA�s approval.

How safe is your investment?

1. The investments made in the funds are subject to market risks that are prevalent at any point in time.
2. The Unit Price is a reflection of the financial and Equity/Debt Market conditions and can increase or decrease at any time due to this.
3. Benefit payable under the Policy will be made according to the tax laws and other regulations in force at that time.
4. There are no guarantees for any fund of any kind under this Policy. The benefit payable on maturity will be equal to the value of your units.
5. The name of the funds in no way indicates the returns derived from them.
6. Please note that Reliance Life Insurance Company Limited is only the name of the Insurance Company and Reliance Golden Years Plan is only the name of the Policy and does not in anyway indicate the quality of the Policy or its future prospects or returns.

Tax Benefit
Premiums paid are eligible for tax deduction under the Income Tax Act, 1961 and subsequent amendments.

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 stamp charges.

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.

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 Golden Years 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.