Reliance Life Insurance Company Limited (RLIC), part of Reliance Capital Limited, is one of the top private sector life insurance companies in India having a total business premium of over Rs. 4,283 crore for the year ended 31st March 2014. The company offers attractive range of innovative and need-based insurance products covering areas of protection, investment, retirement to all individuals and groups.
RLIC launched a unique endowment insurance plan namely ‘Reliance Fixed Savings plan’ in Mumbai on 8th September 2014. This new plan secures future life through fixed returns.
This new non-linked and non-variable product helps policyholders to create a corpus for securing future goals with systematic savings for certain time period. The new insurance plan offers guaranteed trusted benefits that include fixed regular additions, additional lump sum at maturity level and life coverage to protect the insured family.
The CEO of RLIC, Anup Rau said that this new endowment plan shall be providing a long term savings and protection to the risk-averse customers. The premium payment term is for 5, 7 and 10 years with policy terms of 12, 15 and 20 years and the maximum maturity age is 80 years.
With this plan, customers can stop worrying about their long term goals what exactly they gain in the future. The policyholders get rewarded with fixed regular additions at 8% of the annualized premium in the 1st year, at 9% in the 2nd year and 10% from 3rd year onwards.
Key Features of the Plan
- Opt additional life cover
- Option to get monthly income for 10 years
- Protection against death, disease and disability
- Attractive maturity benefits
- Option to choose payment as you like
- Tax benefits
- Offers fixed regular additions
- Available for age group from 8 to 60 years
- Minimum annual premium upto Rs. 25,000