/ Product / Reliance Limited Endowment Plan
Reliance Limited Endowment Plan( First issued on: 2020-11-03 )
Full risk coverage at limited premium payment

Reliance Flexible Endowment Plan.

Under this plan, insured can choose flexible premium payment term from various payment options available as illustrated below and can enjoy full risk coverage throughout the policy term. In addition, sum assured will be increased by 25% in every 5 years, the increased sum assured shall be applicable in case of death only.

Policy Term

Premium Paying Term

10

8

 

 

 

15

8

12

 

 

20

8

12

16

 

25

8

12

16

20

 

Maturity Benefits:

On survival of the insured till the end of the policy term, the insured will receive full Sum Assured along with Vested Bonus (Simple Reversionary + Terminal, if any).

 

Death Benefits:

On death of the insured during the policy term, beneficiary will receive full Sum Assured along with accrued reversionary bonus.

Term

Claim Payout

1 to 5 Years

100% of Sum Assured

Above 5 Years to 10 Years

125% of Sum Assured

Above 10 Years to 15 Years

150% of Sum Assured

Above 15 Years to 20 Years

200% of Sum Assured

Above 20 Years to 25 Years

225% of Sum Assured


Eligibility Criteria:

Minimum Face Amount NPR. 50,000/-

Maximum Face Amount: As per the underwriting policy of the Company

Minimum Entry Age: 16 Years

Maximum Entry Age: 65 Years

Maximum Maturity Age: 75 Years

Policy Term: 10, 15, 20, 25 years

Minimum Policy Term: 10 Years

Premium Paying Term: 8, 12, 16, 20 years

 

Premium Payment Mode: Annually/Semi-Annually/Quarterly

Optional Benefits

Premium Waiver Benefit (PWB)

Premium Waiver Benefits (PWB):

On Permanent Total Disability of the insured due to accident, the entire future premiums due subsequent to the date of Total Permanent Disability will be waived.

In case of life insurance of minor, on death of the Proposer during the policy term, the future premium due subsequent to the date of death will be waived till child attains an age of 16 years.


Total Permanent Disability (TPD)

Permanent Total Disability (PTD):

On Permanent Total Disability of the insured due to accident, an additional amount equal to Sum Assured or NPR 1 Crore, whichever is less, is payable in monthly installment spread over 120 months. If the remaining term to maturity is less than 120 months, the balance installments is payable in lump sum on maturity or at death, whichever is earlier. This benefit is available only on insured attaining an age of 16 years.

Eligibility Criteria:

Minimum Sum Assured                                 As per Basic Plan of Insurance

Maximum Sum Assured                                As per Basic Plan of Insurance or NPR 1 Crore, whichever is less

Minimum Entry Age                                        16 Years

Maximum Entry Age                                       65 Years

Minimum Policy Term                                    5 Years

Maximum Policy Term                                   54 Years

Maximum Maturity Age                                70 Years

 


Accidental Death Benefit (ADB)

Accidental Death Benefits (ADB):

On death of the insured due to accident, an additional amount equal to Sum Assured or NPR 1 Crore, whichever is less, is payable to the beneficiary. This benefit is available only on insured attaining an age of 16 years.

Eligibility Criteria:

Minimum Sum Assured                                 As per Basic Plan of Insurance

Maximum Sum Assured                                As per Basic Plan of Insurance or NPR 1 Crore, whichever is less

Minimum Entry Age                                        16 Years

Maximum Entry Age                                       65 Years

Minimum Policy Term                                    5 Years

Maximum Policy Term                                   54 Years

Maximum Maturity Age                                70 Years


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