Reliance Dhan Firta Jivan Beema Yojana (Reliance Money Back Plan)
This plan is ideal for people who desires to have periodic payouts to meet the financial obligations at key stages in life. Under this plan, certain percentage of the sum assured is returned to the insured periodically as survival benefit in every 5 years while maintaining the risk coverage of the full sum assured during the term of the policy. At maturity, the balance amount is paid along with vested bonus which is calculated on the full sum assured. This plan is available with 15 and 20 years’ term.
Survival Benefits
On survival of the insured till the end of the policy term, insured will get payouts in every 5 years and the balance amount of sum assured along with vested bonus at maturity as follows:
|
Term |
Cash Back (Percentage of Sum Assured) |
|||
|
5 Years |
10 Years |
15 Years |
20 Years |
|
|
15 Years |
25% |
25% |
50% with Bonus |
- |
|
20 Years (Option I) |
25% |
25% |
25% |
25% with Bonus |
|
20 Years (Option II) |
25% |
25% |
25% |
50% with Bonus |
Death Benefits
In the event of demise of the insured within the policy term, the beneficiary will receive full Sum Assured along with Vested Bonus (Death Benefit = Sum Assured + Vested Bonus) without deducting any of the survival benefit amounts already paid.
Eligibility Criteria:
Minimum Sum Assured NPR 50,000
Maximum Sum Assured No Limit (Based on Income)
Minimum Entry Age 11 Years
Maximum Entry Age 55 Years for 15 Years Term and 50 Years for 20 Years Term
Minimum Policy Term 15 and 20 Years
Maximum Maturity Age 70 Years
Note: For minor’s life insurance coverage above sum assured NPR 20 lakhs, proposer (parent) must have the life coverage equivalent to proposed sum assured of the minor.
Premium Payment Mode: Regular (Annually/Semi-Annually/Quarterly)
First Date of Issuance: 1st Mangshir 2074.
Optional Benefits
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.
Monthly Income Benefit (MIB):
This benefit is applicable for child insurance of an age 11 to 14 years. In case of death of the Proposer, monthly 1% of Sum Assured is payable till the child attains an age of 16 years.
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 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
Critical Illness Benefit (CI): 7-11-18 Critical illness optional benefit can be taken by the insured. Under this facility a lump sum of up to Rs.50 Lakhs will be provided to the insured in case any one of the illness is medically verified. (Not applicable under the child plan)