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Reliance Nippon Life Immediate Annuity Plan and Policy

Reliance Nippon Life Immediate Annuity Plan and Policy - Reliance life insurance is among the country's top private life insurance providers. It has an extensive distribution channel with over 800 branches across the nation. It follows a customer centric approach and has a claim settlement ratio of 91% with over 10 million policies in force. The Reliance Immediate Annuity plan helps you invest your money by converting a lump sum or a corpus into a fixed regular income enabling you to live life to its fullest. It offers a variety of annuity options and depending on the type of annuity and payout frequency chosen you start receiving regular annuity income.

Key Features - Reliance Nippon Life Immediate Annuity Plan and Policy

Below are the key features of the reliance Immediate Annuity Plan:

  • The Reliance Immediate Annuity plan is a non-participating non linked plan that helps you in investing your hard earned money.
  • The Reliance Immediate Annuity Plan gives you a regular income for the future and helps you secure yourself financially post retirement.
  • The Policy offers 3 options for Annuity Payout. Life Annuity, Life Annuity with return of purchase price and Life Annuity guaranteed for 5, 10 or 15 years and payable for life thereafter.
  • The Reliance Immediate Annuity Plan does not offer death or maturity benefits.
  • There are no Riders available in this policy.
  • This policy does not offer any surrender benefits. The policy has no surrender value and cannot be surrendered.
  • This policy once undertaken does not allow for partial or complete withdrawal.
  • Annuity rates at the time of purchasing the plan remain the same thereafter.

Benefits - Reliance Nippon Life Immediate Annuity Plan and Policy

The benefits of Reliance Immediate Annuity Plan are below:

  1. Hassle free enrollment: The Reliance Immediate Annuity Plan has a smooth enrollment process with minimal paperwork required. It also can be acquired without having to go through various medical tests.
  2. It provides tax benefits on the premium you pay and the benefits you receive as per applicable income tax laws.
  3. It has a one time payment of premium. Policyholder is required to make a one time premium payment in the form of the desired lump sum or corpus.
  4. The policy is flexible. It offers 3 options from which you can choose your annuity payout. They are life annuity, life annuity guaranteed for 5, 10 or 15 years and payable for life thereafter.
  5. It offers a variety of annuity payout frequencies. You can choose to have your annuity paid out annually, half-yearly, quarterly or monthly.
  6. The policy guarantees whole life income or annuity.

Eligibility - Reliance Nippon Life Immediate Annuity Plan and Policy

Below are the criteria for eligibility for Reliance Immediate Annuity Plan:

Criteria

Minimum

Maximum

Age at Entry

Minimum age of entry is 20 years as at last birthday

Maximum age of entry is 80 years as at last birthday

Purchase Price

RS 1,00,000 is the minimum purchase price

There is no limit on the maximum purchase price

Annuity Installment

RS 1000 is the minimum Annuity Installment

There is no maximum Annuity Installment

The Annuity Payout modes are monthly, quarterly, half-yearly and yearly. The payout is a minimum of RS 1000 regardless of any mode chosen.

Reliance Retirement Life Insurance Plans and Policy

 

Reliance Saving & Investment Plans
Reliance Nippon Life's Guaranteed Money Back Plan
Reliance Nippon Life Fixed Savings
Reliance Nippon Life Bluechip Savings Insurance Plan
Reliance Nippon Life Increasing Income Insurance Plan
Reliance Nippon Life Fixed Money Back Plan
Reliance Nippon Life Lifelong Savings Plan
Reliance Nippon Life Future Income
Reliance Nippon Life Whole Life Income
Reliance Nippon Life Increasing Money Back Plan
Reliance Nippon Life Bal Nivesh One Time
Reliance Nippon Life Super Money Back Plan
Reliance Nippon Life Smart Cash Plus Plan
Reliance Nippon Life's Money Multiplier Plan
Reliance Nippon Life Endowment Plan
Reliance Nippon Life's Super Endowment Plan
Reliance Retirement Plans
Reliance Nippon Life Pension Builder
Reliance Nippon Life Immediate Annuity Plan
Reliance Nippon Life Smart Pension Plan
Reliance ULIP Plans
Reliance Nippon Life Premier Wealth Insurance Plan
Reliance Nippon Life Smart Savings Insurance Plan
Reliance Nippon Life Classic Plan II

Reliance Child Insurance Plans
Reliance Nippon Life Education Plan
Reliance Nippon Life Child Plan
Reliance Child Insurance Plans
Reliance Groups Insurance Plans
Reliance Employers Liability Solutions
Reliance Employee Protection Solutions
Reliance Group Saving Solutions