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Reliance Nippon Life’s Money Multiplier Plan



A non-linked, non-participating, non-variable endowment plan

You want to save for a future, where your family lives a good life, but have you thought what would happen in case of any emergency?

Reliance Nippon Life’s Money Multiplier Plan not only helps you save for a lump sum that helps you take your family for that long vacation, or buy an asset, but also offers double protection in case of an unforeseen emergency. This way, you can ensure this lump sum can help them fulfill their goals even in your absence.


5 Reasons to Buy

  • Utilize the lump sum to pay off your home loan
  • Fund your child’s wedding
  • Save for retirement
  • Get a lump sum to fulfill your dreams
  • Protect your family
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Tax Benefits

Get tax benefits on investment and on returns, as per the applicable Income Tax Laws.


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Flexibility 

Choose your policy Term 10, 15 or 20 years.

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Protection for your family

Get life cover of at least 10 times of the Annualized Premium for the entire Policy Term

Get Accrued Guaranteed Loyalty Additions, if any


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Saving

Get three Guaranteed Benefits at maturity: 
Sum Assured
Guaranteed Loyalty Additions, accrued at the end of each Policy Year
Guaranteed Maturity Addition 
Your Guaranteed Loyalty Additions and Guaranteed Maturity Addition increase with the number of years you pay premiums and remain invested in the plan.




Reliance Nippon Life’s Money Multiplier Plan at a glance


Parameters

Minimum

Maximum

Age at Entry (Years)

18 (last birthday)

55 (last birthday)

Age at Maturity (Years)

28 (last birthday)

75 (last birthday)

Policy Term (Years)

 

10/15/20

Premium Payment Term (Years)

Equal to Policy Term

Sum Assured (R)

60,000

No limit, subject to Company’s

 

board approved underwriting policy

Premium Payment Options

Regular pay

Premium Payment Modes

Yearly, Half-yearly, Quarterly and Monthly

Benefits in Detail

Maturity Benefit
On survival of the Life Assured at the end of the Policy Term, the following three benefits will be paid:

  • Sum Assured: An absolute amount of benefit guaranteed to become payable on maturity of the Policy
  • Guaranteed Loyalty Additions: The Guaranteed Loyalty Additions accrue at the end of every Policy Year and will be added to the Sum Assured at the end of each Policy Year as long as the Policy is in-force and all due premiums have been paid in full The Guaranteed Loyalty Additions increase every year and are calculated as described below: Guaranteed Loyalty Additions (in year X) = 1% x X x Sum Assured (Where X corresponds to the year for which the Annualised Premium is paid in full).
    For example- 

    Completed Policy Year

    Guaranteed Loyalty Additions
    (as a percentage of Sum Assured)

    Accumulated Guaranteed Loyalty Additions
    (as a percentage of Base Sum Assured)

    5

    5%

    15%

    10

    10%

    55%

    15

    15%

    120%

    20

    20%

    210%

    The Guaranteed Loyalty Additions will be payable on death of the Life Assured, surrender or maturity of the Policy, whichever is earlier.

    Guaranteed Maturity Addition: Guaranteed Maturity Addition will be payable provided all due premiums have been paid in full and the Policy is in-force at the time of maturity
    The Guaranteed Maturity Addition is expressed as a percentage of Sum Assured and depends on the Policy Term as given in the table below.

    Guaranteed Maturity Addition = 1% x Policy Term x Sum Assured

    Policy Term (Years)

    Guaranteed Maturity Addition (as a percentage of Sum Assured)

    10

    10%

    15

    15%

    20

    20%
  • Death Benefit In the unfortunate event of demise of the Life Assured during the Policy Term provided the Policy is in-force as on the date of death, the nominee shall receive the following benefits:
    Maximum of double the Sum Assured or 10 times of Annualised Premium or 105% of Premiums paid, and Accrued Guaranteed Loyalty Additions, if any
    The Policy terminates on payment of the death benefit

     



Source: Reliance Nippon Life Insurance Company Limited Website
Reliance Securities is a distributor of Mutual Funds, Portfolio Management Services(PMS), Corporate Fixed Deposits, Bonds/NCDs, Insurance, IPOs, Structured Products and Loans.