|
|
|
|
|
|
|
Insurance Company
|
Reliance Life Insurance Co Ltd
|
|
Plan Name
|
Reliance Super Aoutmatic Investment Plan
|
|
Plan Nature
|
ULIP
|
|
Plan Category
|
Investment Plan
|
|
UIN No.
|
121L036V01
|
|
About Plan
|
Reliance Super Automatic Investment Plan is an enhanced Unit Linked plan addressing comprehensive needs to strike that perfect balance of Protection and Savings with full flexibility as you grow in your career. Reliance Super Automatic Investment Plan gives you full flexibility to choose just the right investment mix to reap higher benefits.
|
|
|
|
|
|
|
|
Minimum Entry Age
|
30 Days
|
|
Maximum Entry Age
|
65 Years last birthday
|
|
Minimum Maturity Age
|
18 Years last birthday
|
|
Maximum Maturity Age
|
80 Years last birthday
|
|
Minimum Policy Term
|
10 Years
|
|
Maximum Policy Term
|
30 Years
|
|
Minimum Sum Assured (Regular/Limited)
|
5 times the amount of the annualized Premium.
|
|
Minimum Sum Assured (Single)
|
110% of the single Premium amount.
|
|
Maximum Sum Assured (Regular)
|
0 to 45 - 34 times of Annualised Premium46 to 58 - 24 times of Annualised Premium59 - 65 - 19 times of Annualised Premium
|
|
Maximum Sum Assured (Limited)
|
0 to 45 - 34 times of Annualised Premium46 to 58 - 20 times of Annualised Premium59 to 65 - 18 times of Annualised Premium
|
|
Maximum Sum Assured (Single)
|
Age at Entry: 0 to 45 Policy Term 10 Years - 17 times of Single PremiumPolicy Term 11 to 20 - 6 times of Single PremiumPolicy Term 21 to 30 - 3 times to Single PremiumAge at Entry: 46 to 58Policy Term 10 Years - 5 times of Single PremiumPolicy Term 11 to 22 - 2 times of Single PremiumAge at Entry: 59 to 65 Policy Term 10 Years - 3 times of Single PremiumPolicy Term 11 to 15 - 2 times of Single Premium
|
|
|
|
|
|
|
|
|
|
Benefits
|
|
|
| Particulars | Description |
|
Maturity Benefits
|
On survival of the life assured to maturity, the Fund Valuerelating to the basic policy and top-ups will be paid. The policy terminates on payment of maturity benefit.
|
|
Death Benefits
|
On death before 12th birthday - The death benefit will be the fund value relating to basic policy as on the date of receipt of intimation of death.On death after 12th birthday but before 60th birthday - Deathbenefit will be higher of sum assured less all partial withdrawals made from the basic policy fund in the last 24 months prior to date of death and fund value relating to basic policy as on the date of receipt of intimation of death.On death on or after 60th birthday - Death benefit will be higher of sum assured less all partial withdrawals made from the basic policy fund within 24 months before 60th birthday and all the withdrawals made from the basic policy fund after 60th birthday and the fund value relating to the base policy as on date of receipt of intimation of death.
|
|
Loan against policy
|
No loan facility available.
|
|
Partial Withdrawal Benefit
|
You are allowed to make partial withdrawals after 3 years from inception. There would be a 3-years lock-in period on the top-ups for the purpose of partial withdrawals. The minimum amount of partial withdrawal is Rs. 5000 and themaximum partial withdrawal amount should not exceed 20% of the fund value at the time of withdrawal.
|
|
|
|
Tax Benefits
|
|
|
| Section | Description |
|
SEC 80 C
|
Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
|
|
SEC 10 (10)D
|
Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
|
|
|
|
|
|
|
|
|
|
|
|
Accidental death & Total & Permanent Disablement Rider [121C002V01]
|
|
Term Life Insurance Benefit Rider [121C009V01]
|
|
Major Surgical Benefit Rider [121B011V01]
|
|
Critical Conditions (25) Rider [121B010V01]
|
|
|
|
|
|
|
|
|
|
Reliance Super Automatic Investment Plan is an enhanced Unit Linked plan addressing comprehensive needs to strike that perfect balance of Protection and Savings with full flexibility as you grow in your career. This plan promises Life cover, with a complete flexibility to gain control over your investments in tune with your financials needs and your risk appetite. This plan promises what you deserve as you reach greater heights in life. For the select few like you, Reliance Super Automatic Investment Plan gives you full flexibility to choose just the right investment mix to reap higher benefits.
|
|
Two plan options to choose from û Ready-made & Tailor-made.Life Stage asset allocation to ensure automatic change in investment patterns- under Ready-made Plan option.Freedom to decide your own fund mix based on your risk profile under Tailor-made PlanAllows Systematic transfer plan to average out the cost of unit purchases in equity.Regular, limited, single premium paying optionsUnmatched flexibility through our ôExchange Optionö to move between Reliance suite of unit linked productsLiquidity in the form of partial withdrawals.
|
|
On death before 12th birthday û The death benefit will be the fund value relating to basic policy as on the date of receipt of intimation of death.On death after 12th birthday but before 60th birthday û Death benefit will be higher of sum assured less all partial withdrawals made from the basic policy fund in the last 24 months prior to date of death and fund value relating to basic policy as on the date of receipt of intimation of death.On death on or after 60th birthday û Death benefit will be higher of sum assured less all partial withdrawals made from the basic policy fund within 24 months before 60th birthday and all the withdrawals made from the basic policy fund after 60th birthday and the fund value relating to the base policy as on date of receipt of intimation of death.The fund value relating to the top ups will also be paid in each of the above cases. The policy terminates on payment of death benefit.
|
|
Maturity Benefit: On survival of the life assured to maturity, the Fund Value relating to the basic policy and top-ups will be paid. The policy terminates on payment of maturity benefit.
|
|
The rider benefit is available only with regular and limited premium payment policies. For limited premium policies the rider benefits will be available during the premium paying term only.You can add the following riders:1. Reliance Major Surgical Benefit Rider2. Reliance Critical Conditions (25) Rider: 3. Reliance Term Life Insurance Benefit Rider: 4. Reliance Accidental Death and Total and Permanent Disablement Rider:
|
|
Systematic Transfer Plan is available only for contributions to be invested in the Equity fund under Tailor-made plan option. STP means shifting of pre-determined amounts from Gilt Fund at regular intervals into Equity Fund in order to mitigate the risk arising from volatility in equity markets by averaging out your cost of purchase of units.
|
|
If you have received a bonus or some lump sum money you can use that as a top-up to increase the investments component in your Policy. Top-ups can be accepted only where the due basic regular/limited premiums are paid up to date. The total top-up premiums at any point in time will not exceed 25% of the total regular/limited premiums paid till that time. The minimum top-up premium at any time is Rs.2,500. Payment of top-ups would not result in increase in sum assured. In case of single premium policies total top-up premiums at any point in time will not exceed 25% of the single premium paid.
|
|
This option is available to for existing reliance Super Automatic Investment Policyholders after completion of three policy years from the date of commencement. Under this option, the policy holder can transfer policy benefits (surrender, maturity etc.) either fully or partially to our any another plan wherein this option is available. This option must be exercised at least 30 days before the receipt of benefit under the policy. The terms and conditions as specified in the opted policy document would apply to the policy holder opting for the æExchange OptionÆ.
|
|
You are allowed to make partial withdrawals after 3 years from inception. There would be a 3-years lock-in period on the top-ups for the purpose of partial withdrawals. The lock-in on top-ups shall apply from the date of payment of each top-up. However, this condition will not apply if top ups are paid during the last three years before the maturity. All partial withdrawals made shall be allowed from the top-up account as long as top-up account supports partial withdrawals (i.e. the total top-up balance amount). Partial withdrawals with respect to basic plan shall only be counted for the purpose of adjusting the base sum assured to be payable on death as detailed below.The minimum amount of partial withdrawal is Rs. 5000 and the maximum partial withdrawal amount should not exceed 20% of the fund value at the time of withdrawal.However, at any point of time during the policy term, the minimum fund balance after the partial withdrawal should be at least equal to 125% of the annualised premium.On a partial withdrawal while your age is less than 60 years last birthday, the Sum Assured under the Basic Plan will be reduced by the amount of partial withdrawals made in the preceding 24 months of the date of partial withdrawal. On a partial withdrawal while your age is equal to or greater than 60 years last birthday, the Sum Assured under the Basic Plan will be reduced by the amount of partial withdrawals made in the 24 months preceding the 60th birthday of the policyholder and all partial withdrawals after the 60th birthday.In case the policy is taken on the life of the minor, partial withdrawals shall not be allowed until the life assured completes 18 years of age. Charges for partial withdrawal from the basic policy fund are mentioned below. No partial withdrawal charge is applicable for withdrawal from top-ups fund and for single premium policies.
|
|
You will have the flexibility to alter the allocation of your investments among the funds/plans offered in order to suit your changing investment needs by easily switching between the funds/plans. You can switch between Tailor-made Plan option and the Ready-made Plan option and between the funds available under Tailor-made Plan option. When switching from Tailor-made Plan to Ready-made Plan option the fund option will depend on the age last birthday of the life assured and the corresponding age band. However when switching from Ready-made Plan to Tailor-made Plan the policyholder, can decide his own fund mix.In respect of switching requisition received up to 3.00 p.m. by thecompany, the closing unit price of the day shall be applicable. In respectof switching requisition received after 3.00 p.m. by the company, theclosing unit price of the next business day shall be applicable. There are52 free switches each policy year. Unused free switches cannot be carriedforward to a following year.
|
|
You have the option to take the maturity proceeds in periodic installments within a maximum of 5 years from the date of maturity. You have to give a notice to the insurer at least 30 days before the maturity date. The periodic installment could be in any form including lump sum or infrequent withdrawals as requested by you.During this period, there will be no life cover. The policy will participate in the performance of units.The Company will however continue to deduct administration charges by cancellation of units. The fund management charge will be priced in the unit value.In the event of death during settlement period the fund value as on the date of intimation at the office will be paid to the nominee.During the settlement period, the investments made in the unit funds are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and the factors influencing the capital market.The investment risk during the settlement period will be borne by the policyholder.For those policy holders opting for the settlement option, Fund C would apply by default, irrespective of the age of the policy holder.
|
|
For your convenience we are providing 3 premium payment options - a) Regular premium where the premium paying term is equal to the policy term, b) Limited premium where the premium paying term is of 10 years and in multiples of 5 years and c) Single Premium. You can pay the regular/limited premiums in yearly, half yearly, quarterly and monthly mode and pay by cash, cheque, debit/credit card, ECS & direct debit. The minimum regular premium is Rs 10,000 for annual mode, Rs 5,000 for half-yearly, Rs 2,500 for quarterly and Rs 1,000 for monthly mode. The minimum limited premium is Rs 20,000 for annual mode, Rs 10,000 for half-yearly, Rs 5,000 for quarterly and Rs 2,000 for monthly mode. For single premium the minimum amount is Rs 25,000. The minimum top-up premium is Rs 2,500.
|
|
You may instruct us in writing to redirect all the future premiums under a policy in an alternative proportion to the various unit funds available. Redirection will not affect the allocation of premium(s) paid prior to the request.
|
|
|
|
|
|
|
|
|
|
Life Balanced Fund 1
|
|
Life Corporate Bond Fund 1
|
|
Life Energy Fund 1
|
|
Life Equity Fund 2
|
|
Life Gilt Fund 1
|
|
Life Growth Plus Fund 1
|
|
Life Infrastructure Fund 1
|
|
Life Midcap Fund 1
|
|
Life Money Market Fund 1
|
|
Life Pure Equity Fund 1
|
|
Life Super Growth Fund 1
|
|
|
|
Particulars
|
Range
|
|
Life Balanced Fund 1
|
|
Debt Securities
|
0% - 100%
|
|
Equities
|
0% - 20%
|
|
Money Market Instruments Incl. Liquid Mutual Fundsand bank deposits
|
0% - 100%
|
|
Life Corporate Bond Fund 1
|
|
Money Market instruments
|
0% - 100%
|
|
Corporate Bonds
|
0% - 100%
|
|
Life Energy Fund 1
|
|
Equity
|
0%-100%
|
|
Life Equity Fund 2
|
|
Equity
|
0% - 100%
|
|
Life Gilt Fund 1
|
|
Central Government Securities
|
0% - 100%
|
|
Other Government Securities
|
0% - 40%
|
|
Money Market Instruments
|
0% - 100%
|
|
Life Growth Plus Fund 1
|
|
Money Market Instruments
|
0% - 40%
|
|
Debt Securities such as Gilts, Corporate Debt excluding Money Market Instruments
|
0% - 100%
|
|
Equities
|
0% - 50%
|
|
Life Infrastructure Fund 1
|
|
Equit
|
0% - 100%
|
|
Life Midcap Fund 1
|
|
Equity
|
0% - 100%
|
|
Life Money Market Fund 1
|
|
Money Market Instruments Incl Liquid Mutual Funds and bank deposits
|
0% - 100%
|
|
Life Pure Equity Fund 1
|
|
Equities in sectors other than banks and non-banking financial companies, breweries, distilleries, alcohol based chemicals, cigarettes, tobacco, entertainment, leather, suger and hatcheries.
|
60% - 100%
|
|
Corporate bonds and other debt instruments/ Bank deposits/ Money Market Instruments
|
0% - 40%
|
|
Life Super Growth Fund 1
|
|
Corporate bonds and other debt instruments/ Bank deposits/ Money Market Instruments
|
20% - 100%
|
|
Equities
|
0% - 80%
|
|
|
|
|
|
|
|
|
|
|
Life Balanced Fund 1
|
23-May-13
|
20.3103
|
|
Life Corporate Bond Fund 1
|
23-May-13
|
15.5176
|
|
Life Energy Fund 1
|
23-May-13
|
9.8329
|
|
Life Equity Fund 2
|
23-May-13
|
13.4091
|
|
Life Gilt Fund 1
|
23-May-13
|
14.2206
|
|
Life Growth Plus Fund 1
|
23-May-13
|
15.7778
|
|
Life Infrastructure Fund 1
|
23-May-13
|
6.2832
|
|
Life Midcap Fund 1
|
23-May-13
|
10.8545
|
|
Life Money Market Fund 1
|
23-May-13
|
14.6843
|
|
Life Pure Equity Fund 1
|
23-May-13
|
13.1267
|
|
Life Super Growth Fund 1
|
23-May-13
|
13.3621
|
|
|
|
|
|
|
|
|
|
|
Life Balanced Fund 1
|
|
Life Corporate Bond Fund 1
|
|
Life Energy Fund 1
|
|
Life Equity Fund 2
|
|
Life Gilt Fund 1
|
|
Life Growth Plus Fund 1
|
|
Life Infrastructure Fund 1
|
|
Life Midcap Fund 1
|
|
Life Money Market Fund 1
|
|
Life Pure Equity Fund 1
|
|
Life Super Growth Fund 1
|
|
|
|
|
|
|
|
|
10-Jul-09
11:59
|
Concerns over insurers' IPO listing
|
|
06-Jun-09
10:21
|
Reliance Life Insurance to mop up Rs 1,500-2,000 cr through IPO
|
|
23-May-09
12:40
|
Reliance Cap plans to sell 10 to 26% of its life insurance unit
|
|
22-May-09
10:40
|
Reliance Capital is planning to IPO of its insurance arm
|
|
13-May-09
11:23
|
Reliance Life Insurance reduced the number of agents
|
|
30-Mar-09
15:56
|
Seeking CEO for Insurance JV
|
|
09-Feb-09
09:58
|
Expanding operation beyond Indian shores: Reliance Life CEO
|
|
05-Feb-09
09:50
|
Reliance General Insurance launched claim survey 'Motoveys Claimlook'
|
|
20-Jan-09
12:50
|
Private insurers see market share rise to 62%
|
|
12-Jan-09
14:50
|
Reliance ADAG is in talks to sell a minority stake in its insurance distribution business to THB
|
|
12-Jan-09
13:50
|
Reliance Life Insurance launched Group Savings Linked Plan
|
|
22-Dec-08
14:56
|
Reliance Life launches Guaranteed Return Plan Series I
|
|
12-Dec-08
11:40
|
Reliance Life launches Super InvestAssure Plan - Plus
|
|
08-Dec-08
12:56
|
Reliance Life expects the first premium income to cross $1 billion
|
|
05-Dec-08
12:46
|
Reliance Life to hire 2,500 managers, 90,000 advisers in 4 months
|
|
|
|
|
View another Plan
|
|
|
|
|
Insurance Company
|
|
|
|
|
Solution for
|
|
|
|
|
Type
|
|
|
|
|
Category
|
|
|
|
|
Plan
|
|
|
|
|
|
|