Reliance Nippon Life Child Plan (This Plan Has Been Discontinued)

• Secure your child’s future
• Payouts during the last 4 policy anniversaries
• Risk protection
• Accumulated bonus payable at maturity
• Inbuilt waiver of premium
• Guaranteed Fixed Benefits
• Flexibility to choose policy term
• Enjoy High Sum Assured Rebate
• 3 riders to boost protection
• Participation in profits
• Avail loan facility
• Get tax benefits

Death Benefit

In the event of death of the life insured during the term of the policy, the Sum Assured is payable immediately and all future premiums are waived.

Guaranteed Fixed Benefit

25% of Sum Assured is payable every year on the last four Policy Anniversaries irrespective of the survival of the life insured.

Maturity Benefit

At the end of the policy term irrespective of survival of the life insured, accumulated bonuses are payable.

Waiver of Premium Benefit

In case of unfortunate loss of life, your child is completely protected. The Company pays the Sum Assured to the Beneficiary and also waives the entire future premium. Moreover, all the Fixed Benefits are paid as and when due.

Bonus

Simple reversionary bonus is payable at maturity of the policy.

Loan Benefit

The maximum loan amount that can be borrowed under this policy is 90% of the surrender value. This facility is available after the premium payment of three full policy years.

Surrender Value

This policy acquires a Surrender Value after three years’ premium has been paid. There is a guarantee of minimum Surrender Value of 30% of the total premiums paid following the first year premium, less the total of any periodic lump sum Fixed Benefits already paid.

Tax Benefit

Premiums paid under this policy and riders opted is eligible for tax benefits. Income Tax benefits under this plan and rider benefits are applicable as per the prevailing Income Tax Laws.

Following riders can be opted under this plan, on payment of additional rider premium.

• Reliance Accidental Death & Total & Permanent Disablement Rider
• Reliance Critical Illness Rider
• Reliance Life Insurance Family Income Benefit Rider

Rajesh at 30 years of age, buys Reliance Nippon Life Child Plan with the policy term of 16 years, annual premium of Rs 30,000 and sum assured of Rs 4,05,405.

Scenario A: Rajesh Survives the Policy Term

In case Rajesh survives till maturity of the policy term, accumulated bonuses are payable. Guaranteed fixed benefit as 25% of Sum Assured is payable every year on the last four Policy Anniversaries. This payout helps fulfill your child’s aspirations.



Scenario B: Rajesh dies during the Term of the Policy

In the event of Rajesh’s death at the end of the 5^th policy year, the death benefit is the Sum Assured payable immediately and all future premiums are waived. Guaranteed fixed benefit on specified dates are also payable.