Reliance Nippon Life Insurance company provides a huge number of Plans. Some of those Plans are Protection Plans, Child Plans and many other Plans. But Let us know the Reliance Life Insurance Pension Plans to Plan our Retired Life. To do so, we should be aware that the features and benefits of each and everyPlan. Therefore, read the following information below before taking a Retirement plan.
Reliance Life Insurance Pension Plans
We should start thinking of our future when we are young and earning individual. Many of us think of a secured Life even after retirement but may don’t have any plans. Therefore, to expect a safe and secure Retirement Life, think of taking a Pension Plan in the Reliance Nippon Life Insurance Company. A Pension Plan will help us to save money for retirement. It ensures us to get a minimum income in the form of Pension even after we retire. The Reliance Life Insurance Pension plan provides the Policyholders to maintain the same lifestyle without depending on others.
Reliance Retirement Plans:
Reliance Life Insurance Retirement Plans are given below clearly. There are three pension Plans available in Reliance Nippon. Let us learn about each and every Plan in Detail. Based on that we can choose the Best among them. So, read the information given below. Therefore, know the details and select the perfect Plan for your Retirement.
- Reliance Pension Builder.
- Immediate Annuity Plan.
- Reliance Smart Pension Plan.
The above mentioned three are the different Plans available in Reliance Life Insurance Pension Plans.
Reliance Pension Builder (Non-Linked, participating, deferred) Plan
A Plan in Reliance Life Insurance Pension Plans. After decades of hard work, all the retired people deserve to relax and enjoy the golden years left ahead. At that time, they can pursue their hobbies that they never had time for, revive the lost holiday’s enjoyment, share memories with family and live their Life in their Style. Reliance Pension Builder helps all the customers to save some money for a retirement Life. Therefore, check the following details about this Plans.
Reasons to Buy the Reliance Pension Builder:
The Main Reasons to buy this plan are available here. Therefore, check them and know whether it is useful or not.
- Tailor-make your retirement plan.
- Start your pension when you want it.
- Choose between various retirement options.
- Secure our retirement with guaranteed income for whole life.
- Avail tax benefits, as per applicable tax laws.
Key Benefits of Reliance Pension Builder:
- Flexibility.
- Boost your retirement savings.
- Protect you family.
- Pay as you like.
- Get guaranteed regular income.
- Tax benefits
Reliance Pension Builder at Glans:
Once, check the details before Buying a Plan and then Proceed.
| Details | Minimum | Maximum |
| Age at Entry | 25 years | 65 years |
| Vesting Age | 45 years | 75 years |
| Sum Assured | 2,00,000 | No Limits |
| Premium |
|
No Limit |
| Premium Payment Term | Regular Pay: Equal to Policy Term | Limited pay: 5, 7, ten years |
| Policy Term | 10 to 40 years |
|
| Premium Payment Modes | Yearly, Half-yearly, Quarterly, Monthly | |
Death Benefits:
In the unfortunate death of Life Assured during the Policy Term, the nominee will be entitled to
- 105% of all the premiums paid (excluding Service Tax and Cess, if any) as on the date of death;
- And Vested Simple Reversionary Bonus and Terminal Bonus, if any, as on the date of death
The nominee has the choice to withdraw the entire death benefit proceed or to utilise the death benefit, wholly or partly, for purchasing an Immediate Annuity from Reliance Life Insurance Company at the prevailing Annuity Rate and plan available. Hence, to check the information in detail use the following browser.
Check the Broucher for further Details
Reliance Immediate Annuity Plan (Non-Linked, non-participating)
Reliance Immediate Annuity guides us to earn a regular income for your entire life. It is a Single Premium plan where you pay a lump sum premium amount and opts for a suitable Annuity Option as per your requirements. Based on the chosen Annuity Option and selected payout frequency, you start receiving regular annuity income.
Reasons to Buy Reliance Immediate Annuity Plan:
The following are the reasons behind choosing this plan. Therefore, verify them and check whether it suits your need or not.
- Convert your earnings into regular income.
- Get regular income (Annuity) for your entire life.
- Leave behind a legacy for your family.
- Live life to the fullest, even after retirement.
- Receive tax benefits.
Key Benefits of Reliance Immediate Annuity Plan:
The following are the main advantages of this Plan. Hence, check them to know the details of it.
- One Time Payment – Premium Payment only once.
- Whole Life Guaranteed Income – Get guaranteed whole life income (Annuity)
- Flexibility:
- Choose your annuity from 3 different annuity payout options.
- Annuity of Life.
- Life Annuity with Return of a purchase price.
- Life Annuity is guaranteed for 5, 10 or 15 years and payable for life after that.
- Select your pension payout frequency – Monthly, Quarterly, Half-yearly or yearly.
- Ease of enrollment – No medical tests need.
- Tax benefits – Enjoy tax benefits on the premiums paid and benefits received, as per applicable Income Tax laws.
Reliance Immediate Annuity Plan at a Glance:
Once, check the details before Buying a Plan and then Proceed.
| Details | Minimum | Maximum |
| Age at Entry | 20 years(Last Birthday) | 80 years(Last Birthday) |
| Purchase Price | Rs. 1,00,000 Excluding Taxes | No Limit |
| Annual Instalments | Rs. 1,000 | No Limit |
| Annuity Payment Modes | Yearly, Half-yearly, Quarterly, Monthly | |
Income Benefits:
Fixed Annuity amount is paid on the survival of the Policyholder as specified in the Policy Schedule. Once the Opens are chosen, they cannot be changed.
Maturity Benefits:
No Maturity Benefits will be paid in this Plan.
Death Benefits:
If the Policyholders choose Life Annuity Option with a return of Purchase Price on death, the Purchase Price is paid to Nominee. No Death Benefits for Annuity Option. Therefore, for any other details check the broucher given below.
Check the Broucher for further Details
Reliance Smart Pension Plans (Non-Linked, non-participating)
We plan now for our retirement years because we have to fulfil our dreams. Reliance Life Insurance Pension Plans ensure the independence we deserve. Whatever our plans are, the preparation starts today. Reliance Life Insurance Smart Pension Plan is the right kind of solution for you. It is a non-participating unit linked pension plan that allows you to save systematically and build up the much-needed corpus to make your autumn years very special.
Reasons to buy Reliance Smart Pension Plans:
The following are the reasons behind choosing this plan. Therefore, verify them and check whether it suits your need or not.
- Build a corpus for your golden years.
- Decide your retirement age.
- Live an independent life.
- Ensure regular income for a lifetime.
- Get tax benefits as applicable.
Key Benefits for Reliance Smart Pension plans:
The following are the main advantages of this Plan. Hence, check them to know the details of it.
- It is a non-participating unit-linked pension product with maturity/vesting age between 45 & 75 years.
- Guaranteed Loyalty Additions of up to 9% of the Annualized / Single premium at the end of every third policy year from the end of 6th policy year if the policy is in force.
- The Flexibility of premium payment in Regular /Limited/ Single Payment mode.
- A host of optional Riders to choose from.
- Option to pay Top-up premium(s).
Reliance Smart Pension Plan at a Glance:
Once, check the details before Buying a Plan and then Proceed.
| Details | Minimum | Maximum |
| Age at Entry | 18 Years (last birthday) | 65 years (last birthday) |
| Vesting Age | 45 years | 75 years |
| Policy Term(years) |
|
30 Years |
| Premium Payment Term | 10 years | 30 Years |
| Single Pay | 50,000 | No Limit |
| Top Up | 5,000 | No Limit |
| Premium Amount | Yearly, Half-yearly, Quarterly, Monthly | |
Benefits:
Death Benefit:
- Use the proceeds of the policy or part thereof for purchasing an annuity Plan or
- Withdraw the entire proceeds of the policy
Maturity or Survival Benefits:
- A life annuity.
- A life annuity with return of purchase price on death.
- An annuity guaranteed for 5, 10 or 15 years and payable for life after that.
Rider Benefits:
- Accidental Death and Total and Permanent Disablement Rider.
- Term Life Insurance Benefit Rider.
- New Major Surgical Benefit Rider.
- New Critical Conditions (25) Benefit Rider.
- Life Insurance Family Income Benefit Rider.
Therefore, check the Broucher for more details and also the Additional Benefits in the given below link.
Check the Broucher for further Details
How to Buy Reliance Life Insurance Pension Plans?
The interested person can visit the nearest Reliance Nippon Life Insurance to buy the Proposal form. The interested individuals can also purchase the Policy through online. You can also get the Reliance Retirement plans through the Reliance Agent.
Documents required for buying Reliance Nippon Life Insurance policy are
- Application form/ Proposal form
- Passport Size Photo
- Medical reports ( if necessary).
- Age Proof.
- Address Proof.
Reliance Life Insurance Pension Plan Premium Calculator
Calculate the premium and Maturity Benefit for the any plan online. Personal Details are required to check the Premium. Therefore, we have provided the list of required details. The Required Details include
- Date Of Birth.
- Age.
- Policy Term.
- Premium Paying Term.
- Sum Assured.
Therefore, the interested customers can check their Premium Amount online using the given details.
How to Claim for Reliance Life Insurance Pension Plans
If the insured expires due to a Sudden Accident, the Nominee can apply for Claim of the Term Plan. If the Policy Maturity Period completed, then the Policyholders can Claim i. The beneficiary can claim for the amount after the death of the policyholder or after the successful completion of the premium. Therefore, check the information given below. Once, the Maturity period arrives we can claim them as follows.
The documents required to request for the Reliance Life Insurance Pension Plans are
- Original Policy Document.
- Proof of title.
- Death Proof.
- Medical treatment documents before death.
- Age proof.
- Additional documents in case of death occurred due to unnatural or accidental death.
Other Details of Reliance Life Insurance Pension Plans
Grace Period:
If the Policyholder doesn’t pay the premium within the time, the company will extend the time to pay the premium is a grace period. Reliance Life Insurance Pension Plans has a grace period of 30 days. Assured candidate can pay the premium within this Grace Period.
Revival Period:
If the Policyholder doesn’t pay the premium within the grace period, then the Policy will be a lapse. Within the two consecutive years from the date of first unpaid premium, the lapsed Term Plan revives. Before the expiry period of Policy Term, the Term plan restores.
Surrender Value:
If the insured candidate wants to return the policy within the Minimum Policy Term, surrender value will the paid to the policyholder.
Free Look Period:
If you don’t satisfy with the Terms and Conditions of the Policy, you can return Reliance Life Insurance Pension Plans within 15 days from the Date of receipt of the Policy.
Policy Lapse: If the policyholder doesn’t pay the premium within the grace period for the first three full years, the policy will lapse. No benefits in such situation.
Riders: For each Reliance Life Insurance Pension Plans, there are specific riders available. For more details check the brochure of that specific Term Plan.
Reliance Life Insurance Contact Details
For more information regarding your policy related requirements, you can call to the Reliance Life Insurance Protection Plan Customer care. (Or) Visit the nearest Reliance Life Insurance Branch.
Contact Details:
Customer Care No: 180030008181.
Call to: 91 30338181.
Fax: 022-30002222.
The official site of Reliance Life Insurance is www.reliancelife.com.
Reliance Life Insurance Mail Id is rlife.customerservice@relianceada.com.