Reliance Cash Flow Plan
Reliance Cash Flow Plan
Reliance Cash Flow Plan is a Money Back Plan from Reliance Life Insurance Company. This is a non unit-linked insurance traditional plan where the money is paid as pre-decided intervals.
In this policy, if the Life Insured survives then he would receive percentage return at the end of the fourth year and then every 3rd year till maturity. When the policy matures, the remaining amount along with accrued bonus is paid and the policy is terminated. However, if the Life Insured dies within the policy tenure, then the nominee would receive the full Sum Assured irrespective of how much has already been paid out before and Bonus being calculated on the full Sum Assured and the policy terminates.
Key Features
The below illustration is for a healthy Male (non-tobacco user) opting for a
Age = 30 years, 35 years and 40 years
Sum Assured = Rs 1,00,000 and Rs 5 lakhs
Policy Term = 25 years.
Benefits
In case of death of the Life Insured, the nominee receives the full Sum Assured irrespective of what payment has already been provided + accrued Bonus
The Life Insured would receive the first instalment at the end of the 4th policy year and the others from the end of every 3 policy years.
Money Back Survival Benefits paid per Rs 1,000 Sum Assured on survival to the end of year | |||||||||||
Term | 4 | 7 | 10 | 13 | 16 | 19 | 22 | 25 | 28 | 31 | 34 |
7 | 500 | 500 | |||||||||
10 | 333 | 333 | 333 | ||||||||
13 | 250 | 250 | 250 | 250 | |||||||
16 | 200 | 200 | 200 | 200 | 200 | ||||||
19 | 167 | 167 | 167 | 167 | 167 | 167 | |||||
22 | 143 | 143 | 143 | 143 | 143 | 143 | 143 | ||||
25 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |||
28 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | ||
31 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | |
34 | 90.9 | 90.9 | 90.9 | 90.9 | 90.9 | 90.9 | 90.9 | 90.9 | 90.9 | 90.9 | 90.9 |
At the maturity of the policy, the insured will get the final Lumpsum Amount along with accrued Bonus
Premiums paid under life insurance policy are exempted from tax under Section 80 C and the amount for Critical Illness rider is deducted under Section 80D. The maturity proceeds are exempted from tax under Section 10 (10D)
There are 3 additional riders in this plan
1. Critical Illness Rider
2. Accidental Death & Total & Permanent Disablement Rider
3. Family Income Benefit Rider
And there is an in-built rider
Premium Waiver Benefit rider - If the Life Assured becomes totally and permanently disabled, then the insurer will waive all future premiums up to a limit of Rs 40,000 p.a.
Eligibility
Minimum | Maximum | |
Sum Assured (in Rs.) | 25,000 | No Limit |
Policy Term (in years) | 7 | 34 |
Premium Payment Term (in years) | 7 | 34 |
Entry Age of Life Insured (in years) | 15 | 63 |
Age at Maturity (in years) | 22 | 70 |
Premium (in Rs.) | Nothing Specified | |
Payment modes | Yearly, Half-yearly, Quarterly, Monthly and SSS |
FAQs
If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions. However, it can be revived anytime before the policy maturity.
There is a Guaranteed Surrender Value after 3 policy years
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium
Loan facility is not available under this policy