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Reliance’s Money Multiplier Plan

What is the Plan all About?

Reliance’s Money Multiplier Plan is a non-linked, non-participating, non-variable endowment plan that helps you save a lumpsum that can further help you fulfill financial goals. This plan also offers life cover that ensures financial protection for the family, when you are not around.

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What are the Key Features?

  • Lumpsum to fulfill you/your family’s dreams
  • Guaranteed benefits on maturity
  • Accrued guaranteed loyalty additions
  • Get the life cover
  • 10/15/20 years policy term
  • Get high sum assured rebate

What are the Plan Benefits?

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.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 18 Years 55 Years
Age at Maturity 28 Years 75 Years
Policy Tenure 10/15 Years 20 Years
Premium Paying Term Same As Policy Term Years -
Premium Paying Mode Annually, Semi Annually, Quarterly & Monthly -
Premium Amount - -
Sum Assured Rs 60,000 No Limit (subject To Underwriting)
Freelook Period 15 Days/30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Grace Period 30 Days (15 Days For Monthly Mode) -
Plan Type Offline -

Is any Rider Available with this Plan?

No Riders are available under this plan.

How the Plan Works?

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.
 

Reliance’s Money Multiplier Plan


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

Reliance’s Money Multiplier Plan 1