Minimum age at entry
Maximum age at entry
Minimum age at maturity
Maximum age at maturity
What is the Sum Assured?
Minimum Sum Assured
Maximum Sum Assured
Do I get any rebate for a High Sum Assured?
Reliance Child Plan offers an attractive premium discount for Sum Assured over and
above Rs 99,999 as mentioned below. For example, as per the tabular premium rates,
the Annual Premium for a 30 year old male for a 20 year Policy for Rs 5 lakh Sum
Assured comes to Rs 28,100 before the High Sum Assured Rebate. After the High Sum
Assured Rebate, the premium is Rs 26,600.
Sum Assured Range
High Sum Assured Rebate
Rs 100,000 - Rs 249,000
Rs 1 per 1,000 Sum Assured
Rs 250,000-Rs 499,000
Rs 2 per 1,000 Sum Assured
Rs 500,000-Rs 9,99,000
Rs 3 per 1,000 Sum Assured
Rs 10,00,000 and above
Rs 4 per 1,000 Sum Assured
Can I take a loan against my Policy?
Yes, you can take loan against your 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 after premium
payment of three full years and after three years have elapsed from date of commencement
of the Policy. 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. After the first three years if premiums are not paid within the
grace period the Policy will be made 'Paid up' and the Sum Assured will be reduced,
firstly, in the proportion of completed duration to original Policy term and secondly,
by the amount of periodic lump sum payments already made.
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 in the event of loss of life. Once the Policy becomes
paid-up any outstanding Fixed Benefits will be reduced to the paid up Sum Assured
divided by the number of outstanding Fixed Benefits. On maturity, the accumulated
bonuses up to the date of 'Paid-up' are paid.
One month or 30 days from the due date for the payment of premiums.
Waiver of Premium Benefit
In the event of unfortunate loss of life, your child is completely protected. The
Company waives the entire future premium apart from paying the Sum Assured to the
Beneficiary. In additions all the Fixed Benefits are paid as and when due. Bonuses
will remain attached to your Policy and are payable at maturity.
What if I want to discontinue the Policy?
We provide you 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 plan acquires a Surrender Value after three 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,
less the total of any periodic lump sum Fixed Benefits already paid under this Policy.
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.
For more details on risk factors, terms and conditions please read sales brochure
carefully before concluding a sale.
UIN for Critical Conditions Rider: 1 21 B003V01 , Accidental Death & Total and Permanent Disablement Rider: 121C002V01 , Reliance Child Plan: 121N003V01,Reliance Life Insurance Family Income Benefit Rider -121C015V01