Reliance Life Insurance
  • 5 Reasons to buy
  • Benefits
  • How this plan works
  • Faqs
Reliance Super Five Plus offers you dual benefits of Protection cum Savings. With this policy, your financial interests will be protected even after you have received your Sum Assured. If anything were to happen to you, the beneficiary you have nominated will received an additional Sum Assured along with the accumulated bonuses. This policy also offers you a limited Premium Term, which is five years less than the Policy Term.
one
Twin benefits of protection and savings with Sum Assured paid on survival, at the end of the Premium Paying Term
one
Life Cover for full Sum Assured continues beyond premium paying term
one
Wealth creation through bonus additions
one
Add the Benefit of two Riders
one
Policy Loan available after three full years of premium payment

Survival Benefit:

On survival at the end of the Premium Paying Term you get the Sum Assured.

Maturity Benefit:

On Survival to maturity you get accumulated bonuses.

Life Cover Benefit:

Your Beneficiary will get Sum Assured plus accumulated bonuses in case of your unfortunate death at any time during the Policy Term. This Life Cover Benefit continues even after the payout of Sum Assured after Premium Paying Term.

Rider Benefit:

You also have the option to add two additional Benefits to customise the Policy as per your needs

A. Reliance Accidental Death Benefit & Total & Permanent Disablement Rider

B. Reliance Critical Conditions Rider

Sample Premium (exclusive of Service Tax)

The tables below Illustrate the Indicative premiums for a Life Assured across different Sum Assured and ages for a Policy Term of 20, 25 and 30 years.

Sum Assured Rs. 1 lakh Age/Term (yrs) 20 25 30
30 7425 5360 4175
35 7550 5500 4350
40 7740 5730 4630
45 8145 6175 5115

Sum Assured Rs. 3 lakh Age/Term (yrs) 20 25 30
30 21975 15780 12225
35 22350 16200 12750
40 22920 16890 13590
45 24135 18225 15045

Sum Assured Rs. 5 lakh Age/Term (yrs) 20 25 30
30 36125 25800 19875
35 36750 26500 20750
40 37700 27650 22150
45 39725 29875 24575

(The Premium Paying Term is 5 years less than the Policy Term)

Tax Benefits

On policies issued on or after 1st April, 2012, income tax benefit under section 80C shall apply only to the extent of ten percent of minimum sum assured during the entire term of the policy. Additional conditions apply.

On policies issued on or after 1st April, 2012, income tax benefit under section 10(10D) shall be available if premium payable for any of the years during the term of the policy do not exceeds ten per cent of minimum sum assured during the entire term of the policy. Additional conditions apply.

However, in the event of death, sum received under any Life Insurance Policy continue to be exempt. Additional conditions apply.

Kindly consult a tax expert to understand income tax applicable on various financial aspects.

Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Critical Conditions Rider: 121B003V01, Accidental Death & Total and Permanent Disablement Rider: 1 21 C002V01. Reliance Super Five Plus: 121N002V02, Reliance Life Insurance Family Income Benefit Rider -121C015V01

How does this Plan work?

You pay premium every year. The Premium Paying Term is always five years less than the Policy Term. On survival to the end of the premium paying term you get the Sum Assured. On survival to maturity (i.e. at the end of the Policy Term) accumulated compounded bonuses are paid.

Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Critical Conditions Rider: 121B003V01, Accidental Death & Total and Permanent Disablement Rider: 1 21 C002V01. Reliance Super Five Plus: 121N002V02, Reliance Life Insurance Family Income Benefit Rider -121C015V01
What is the Policy Term?
Minimum Policy Term: 10 years
Maximum Policy Term: 40 years
Who can buy this product?
Minimum age at entry: 12 years
Maximum age at entry: 65 years
Minimum age at maturity: 22 years
Maximum age at maturity: 75 years
What is the Sum Assured?

Minimum Sum Assured:      Rs 25,000
Maximum Sum Assured:     No Limit

Savings and accumulation through bonuses

The Company will declare compounded reversionary bonus, which is payable at maturity or on death.

More value for money - High Sum Assured Rebate

Reliance Super Five Plus offers an attractive premium discount for Sum Assured over and above ` 99,999

For example, as per the tabular premium rates, the Annual Premium for a 30 year old male for a 25 year Policy for Rs 5 lakh Sum Assured comes to Rs 27,300 before the High Sum Assured Rebate. After the High Sum Assured Rebate, the premium is Rs 25,800.

Sum Assured Range High Sum Assured Rebate
Rs. 1,00,000 - Rs. 2,49,999 Re 1 per 1,000 Sum Assured
Rs. 2,50,000 - Rs. 4,99,999 Re 2 per 1,000 Sum Assured
Rs. 5,00,000 - Rs. 9,99,999 Re 3 per 1,000 Sum Assured
Rs. 10,00,000 and above Re 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.
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 into a 'Paid-up' 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. On survival to the end of the premium paying term, you will receive the Paid-up' Sum Assured. On survival to the end of the policy term, you will receive the vested bonuses. You will receive the 'Paid-up' Sum Assured plus the vested bonuses in the event of loss of life.

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, 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.

Grace Period

One month or 30 days from the due date for the payment of premiums.

General Exclusion

The Company 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.

Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Critical Conditions Rider: 121B003V01, Accidental Death & Total and Permanent Disablement Rider: 1 21 C002V01. Reliance Super Five Plus: 121N002V02, Reliance Life Insurance Family Income Benefit Rider -121C015V01
Contact me
Submit
More about this plan

Share your feedback on
Comments
How did you find about RelianceLife.com
Please tell us about yourself
Submit Feedback
This Feedback is related to your experience with this website only. If you have any queries related to your Reliance Life Policy, please feel free to contact us at 3033 8181 / 1800 3000 8181 (Toll Free).