Reliance’s Money Multiplier Plan

Death Benefit

In the event of unfortunate demise of the insured during the policy term, the nominee will receive the maximum of 10 times of annualized premium, 105% of the premiums paid, or double the sum assured and accrued guaranteed loyalty additions. The policy will terminate after payment of the death benefit.

Maturity Benefit

In case of survival of the life insured till end of the policy term, sum assured plus guaranteed loyalty additions plus guaranteed maturity addition is payable.

Loan Benefit

Loan facility can be availed up to 80% of the Surrender Value. Interest rate chargeable on loan amount is 10.5% per annum and it may change from time to time.

Surrender Value

Surrender Value is higher of Guaranteed Surrender Value or Special Surrender Value. The policy acquires a surrender value after payment of first annualized premium in full and if the policy is surrendered before 3 years, the surrender value is payable after completion of 3 policy years.

Tax Benefit

Premium paid can avail tax benefit under section 80C and surrender/death/maturity benefit is also eligible for tax benefit under section 10 (10D) of the Income Tax Act, 1961.

No Riders are available under this plan.

Ajay aged 30 years chooses to buy Reliance’s Money Multiplier Plan with a policy term of 20 years, sum assured of Rs 2,88,462 with an annual premium of Rs 30,000.
 

Case I: If Ajay survives till maturity of the policy, the following benefits are payable.
 

Case II: In the event of death of Ajay during the 10^th policy year, the following benefits are payable.