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Always more
than you can ask for!
Just pay for half the term and
enjoy benefits for full policy term plus
get high return on your investments
Reliance Life Insurance
Super Endowment Plan
A non-linked non-par plan
Plan at Glance
Minimum Maximum
Age at Entry 08 Years 60 years last birthday
Age at Maturity 22 years 75 years last birthday
Policy Term 14 years / 20 years
Premium
7 years / 10 years
Paying Term
Minimum Sum
` 1,00,000 No Limit
Assured
Premium paying term is half of the selected policy term.
Grace period
There is a grace period of 30 days from the due date for
payment of regular premiums. In case of monthly mode,
the grace period is of 15 days.
Paid Up:
Policy Term 14 years: If at least first two annualized
premiums paid and policy has completed at least two
policy years then your policy will be converted into a
paid-up policy.
Policy Term 20 years: If at least first three annualized
premiums paid and policy has completed at least three
policy years then your policy will be converted into a
paid-up policy.
The sum assured under the base plan will be reduced as
given below:
Paid up Sum Assured = Base sum assured * (Number of
premiums paid / total number of premiums payable)
The life insurance protection will continue to the extent of
the paid-up sum assured until the end of the policy term
but rider benefit will cease. A Paid Up policy can be
revived within the revival period.
Tax Benefits
Premium paid under the base policy, Reliance Term Life
insurance Benefit Rider, Reliance Life Insurance Family
Income Benefit Rider and Reliance Accidental Death and
Total and Permanent Disablement Rider are eligible for
tax deduction u/s 80C of the Income Tax Act, 1961,
subject to conditions. Premium paid under Reliance New
Major Surgical Benefit rider and Reliance New Critical
Conditions (25) riders are eligible for tax deduction u/s
80D of the Act, subject to conditions. The benefits under
this plan and riders are tax exempt u/s 10 (10D) of the
Act subject to conditions.
General Exclusion
If the life insured, whether sane or insane, commits
suicide within 12 months from the date of
commencement of this policy or the date of any revival
of the policy the death benefit is limited to the accrued
surrender value of the policy, if any and the company will
not pay any insured benefit.
Nomination
Nominations will be allowed under this plan as per
Section 39 of the Insurance Act, 1938. The life assured,
where he is the Policyholder, may, at any time during the
policy term, can make a nomination for the purpose of
payment of Benefits in the event of his death. Where the
Nominee is a minor, the Policyholder may also appoint a
person to receive the money during the minority of the
Nominee. Nomination may be made by an endorsement
on the Policy and by communicating the same in writing
to the Company. Any change of nomination, which may
be effected before the termination of the Policy shall also
be communicated to the Company. In registering a
nomination, the Company does not accept any
responsibility or express any opinion as to its validity or
legal effect.
Assignment
Assignment will be allowed under this plan as per
section 38 of the Insurance Act, 1938. The policyholder
can assign a policy by an endorsement upon the Policy
itself or by a separate instrument signed in either case by
the assignee or specifically stating the fact of assignment
and duly attested. Such assignment shall be effective, as
against the Company, from and upon the service of a
written notice to the Company and the Company
recording the assignment in its books. In registering an
assignment, the Company does not accept any
responsibility or express any opinion as to its validity or
legal effect.
About Us
Reliance Life Insurance offers you products that fulfil your
savings and protection needs. Our aim is to emerge as a
transnationals Life Insurer of global scale and standard.
Reliance Life Insurance Company Limited is a part of
Reliance Capital, under Reliance Group. Reliance Capital is
one of India's leading private sector financial services
companies, and ranks among the top 3 private sector
financial services and banking companies, in terms of net
worth. Reliance Capital has interests in asset management
and mutual funds, stock broking, life and general insurance,
proprietary investments, private equity and other activities in
financial services.
Reliance Group also has presence in Communications,
Energy, Natural Resources, Media, Entertainment,
Healthcare and Infrastructure
Nippon Life Insurance, also called Nissay, holds 26% stake
in Reliance Life Insurance Company Limited.
Nippon Life Insurance is Japan's largest private life insurer
with revenues of Rs. 346,834 crore (US$ 80 Billion) and
profits of over Rs. 12,199 crore (US$ 3 billion). The Company
has over 14 million policies in Japan, offers a wide range of
products, including individual and group life and annuity
policies through various distribution channels and mainly
uses face-to-face sales channel for its traditional insurance
products. The company primarily operated in Japan, North
America, Europe and Asia and is headquartered in Osaka,
Japan. It is ranked 81st in Global Fortune 500 firms in 2011.
Prohibition of Rebate: Section 41 of the Insurance
Act, 1938 states
1) No person shall allow or offer to allow, either directly or
indirectly, as an inducement to any person to take out or
renew or continue an insurance in respect of any kind of
risk relating to lives or property in India, any rebate of
the whole or part of the commission payable or any
rebate of the premium shown on the Policy, nor shall
any person taking out or renewing or continuing a Policy
accept any rebate, except such rebate as may be
allowed in accordance with the published prospectuses
or tables of the insurer.
2) Any person making default in complying with the
provisions of this section shall be punishable with a fine
which may extend to five hundred rupees.
Age\ 14 20 Age\ 14 20
Policy years years Policy years years
Term Term
(Years) (Years)
8 90.76 51.32 35 92.24 53.27
9 90.81 51.37 36 92.42 53.51
10 90.88 51.44 37 92.62 53.79
11 90.96 51.51 38 92.84 54.09
12 91.03 51.58 39 93.09 54.42
13 91.09 51.64 40 93.37 54.79
14 91.14 51.68 41 93.67 55.20
15 91.19 51.73 42 94.01 55.64
16 91.23 51.77
43 94.39 56.14
17 91.27 51.81
44 94.83 56.70
18 91.31 51.84
45 95.32 57.32
19 91.34 51.87
46 95.87 57.99
20 91.36 51.91
47 96.46 58.73
21 91.39 51.94
48 97.11 59.53
22 91.41 51.97
49 97.81 60.40
23 91.43 52.00
50 98.57 61.34
24 91.45 52.04
51 99.38 62.36
25 91.47 52.08
52 100.26 63.46
26 91.49 52.12
27 91.52 52.18 53 101.21 64.66
This product brochure gives the salient features of the plan only. For further
details on all the conditions, exclusions related to Reliance Life Insurance
Super Endowment Plan please contact our Insurance Advisors.
Income Tax Benefits under the income tax laws of 1961 are subject to
amendments and interpretation
Kindly consult a tax expert
Kindly review the offer documents carefully before investing
Conditions apply