Reliance Super Endowment Plan 2024 Benefits, Features, Details, Reviews

Key features of Reliance Fixed Savings

If you’re looking for a good way to save money, Reliance Fixed Savings may be the option for you. This provider offers a variety of products and services that can help you save money on your monthly bills. Plus, the interest rates are high enough that you’ll be able to earn a decent return on your investment. In this article, we’ll take a closer look at what this provider has to offer and how it can benefit you.

This plan from Reliance has the following features

• Sum assured: The amount that the policyholder will receive at the end of the term is known as the Guaranteed Maturity Sum Assured. It consists of the product of the annualized premium, the premium payment term, and the Fixed Maturity Addition (if any).
• Premium paying term – This policy’s premiums are due for a period of five years for a policy term of twelve years, seven years for a policy term of fifteen years, and ten years for a policy term of twenty years. This is the limited premium paying period.
• Premiums – The policyholder is required to pay a minimum of Rs.25,000 annually in order to maintain access to the policy’s benefits.
• Premium paying methods – The policy’s premiums can be paid through internet banking, ECS, cheques, demand drafts, credit cards, and other applicable transaction
• medium Basis – This allows the policyholder to gain benefits of investment through fixed regular additions offered through the plan, in addition to providing a life cover
• Policy validity – The policy is valid for the chosen policy term but is liable to lapse if premium payment is not made within the provided grace period, and its benefits will cease.

Benefits of Reliance Fixed Savings Plan

If you’re looking for a way to save money, you should definitely consider a Reliance Fixed Savings Plan. These plans offer amazing benefits that can help you save money on your bills, cover unexpected costs, and more. In this post, we’ll discuss some of the best benefits of a Reliance Fixed Savings Plan, and why you should consider signing up today.

This aims to give the policyholder and his or her family a lot of benefits and ensures a healthy financial future when they retire or die unexpectedly. A comprehensive list of the benefits provided by this policy is as follows:

• Death benefit: This plan’s death benefit is paid out when the life insured passes away, as long as the policy is in effect.
• Sum Assured on Death (whichever is greater than Annualized Premium x Death Benefit Multiple or Guaranteed Sum Assured on Maturity) 105% of all premiums paid up to the date of death Accrued Fixed Regular Additions (up until the time of death, if not paid earlier) The death benefit multiple is shown in the table below.

Maturity benefit –

• This plan’s maturity benefit is calculate by multiplying the annualize premium by the premium payment term and the fix maturity addition (annualize premium times the maturity factor) if the insure person survives on the maturity date.

Surrender Benefit –

• When all premiums are paid in full within two years for payment terms of five years and seven years, and within three years for payment terms of ten years, the policy gains a surrender value. If the policy is still in effect, it can be surrendered for a Special Surrender Value or Guarantee Surrender Value. the bank is free to decide what the surrender benefit should be.

Tax benefits –

• Depending on the current tax laws, one may be able to take advantage of tax benefits for premiums under Section 80C and for maturity or death benefits under Section 10(10D).

Eligibility Criteria for Reliance Fixed Savings:

In this policy, the life insured and the proposer can be different people. While the life insured can be anyone between the ages of 8 and 60, the proposer must be older than 18.Under this policy, the minimum age at maturity will be 20 years, and the maximum age will be 80 years.

Riders for Reliance Fixed Savings Policy:

This plan can have five optional riders under its wing in order to provide a more . The riders are as follows –

• The Reliance Term Life Insurance Benefit Rider adds a death benefit based on the base policy’s sum assured.
• The Reliance Major Surgical Benefit Rider provides a one-time payment to cover the costs of 33 different surgeries.
• The Reliance Critical Conditions (25) Rider covers 25 critical conditions in one lump sum.
• The Reliance Family Income Benefit Rider provides a monthly income benefit equal to 1% of the Sum Assured from the date of the insured’s death until the policy’s termination or 10 years, whichever comes first.
• Reliance Accidental Death and Total and Permanent Disablement Rider: In the event that an accident results in death or disability, this rider provides an additional benefit. Can likewise defer off future charges in the event of handicap.