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Reliance Nippon Life Super Money Back Plan and Policy

Reliance Nippon Life Super Money Back Plan and Policy - With the Reliance Super Money Back plan, you can receive assured and steady income. The plan provides enhanced security to you and your family members as and when you need. The guaranteed monthly income offered by the plan increases every year. The Reliance Super Money Back plan takes care of your near and dear ones even in your absence by providing necessary coverage. The plan helps you renovate your house, plan your vacation, pay off your children’s school fees and plan for your retirement. Also, you can fulfill your investment goals with this plan.

Features - Reliance Nippon Life Super Money Back Plan and Policy

The key features of Reliance Super Money Back Plan include:

  • The plan enables you to enjoy flexibility while paying your premiums. You can choose to pay your premiums on monthly, half-yearly, yearly and quarterly basis.
  • The plan offers high sum assured rebate. You can get rebate on higher sum assured.
  • The Reliance Super Money Back plan is a money back plan.
  • The plan offers a grace period of 30 days for premiums paid on yearly, half yearly and quarterly basis. But, if you pay your premiums on monthly basis, your grace period will be 15 days.
  • The policy will lapse on premium discontinuation.
  • The policy can be revived within a period of two years from the date of first unpaid premium.
  • You can surrender the policy at any time and avail the surrender benefits.
  • The surrender value paid by the policy is higher than the guaranteed surrender value.
  • The policy offers guaranteed surrender value.
  • You can also receive special surrender value with this policy.
  • The policy enables you to change the sum assured and the policy term.
  • You can take loan against this policy. The policy offers loan up to 80% of the total surrender value.
  • The policy accepts nomination.
  • A free look period of 15 days is offered, if the policy is bought manually and 30 days, if it is purchased online.
  • Policy terms include: 10, 20, 30, 40, and 50 years. .
  • Premium payment term is half of the select policy tenure.

Benefits - Reliance Nippon Life Super Money Back Plan and Policy

The Reliance Super Money Back Plan offer the following key benefits:

  • The policy offers guaranteed liquidity which includes money back benefits at maturity at the end of every 5 policy years.
  • It also offers loyalty additions by using which you can improve your savings. Loyalty additions will be payable at the end of premium payment term.
  • You can avail maturity benefits under this plan. It pays the maturity benefits at the end, provided the policy is in force till the end and all premiums are paid.
  • The plan provides enhanced protection to your family members by offering higher life cover which is 10 times of your annualized premiums for the whole policy tenure.
  • You will receive 1% of the total sum assured or paid-up sum assured as regular monthly payouts in the first payout year. Going forward, your monthly payouts will increase by 0.25% in the coming years. You will receive these payout benefits till the end of your policy term or death, which is earlier.
  • As per the Indian Income Tax Act, 1961, you can enjoy tax benefits on the premiums paid for the Reliance Super Money Back plan. These tax benefits are subject to change based on tax laws prevailing during the time paying premiums.

Eligibility - Reliance Nippon Life Super Money Back Plan and Policy

Entry age

Minimum age: 18 years

Maximum age: 55 years.

Maturity age

Minimum age: 28 years

Maximum age: 80 years.

Premium Payment:

Premium paying terms (PPT)

Half of the select policy tenure

Premium paying modes

Yearly, half-yearly, quarterly and monthly.

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