Investment Plans 1918 views April 13, 2020

Reliance money back guarantee plan is a money back insurance plan offered by Reliance Nippon Life Insurance Company. As the name suggests the plan is designed to provide money back benefit to the life insured at regular intervals. The plan offers guaranteed returns along with insurance coverage during the policy tenure. The Guaranteed Money Back Plan from Reliance Nippon Insurance company is non-participating and non-market linked insurance plan designed to return the money which can be utilized to pay off debts, create a corpus for children education, plan for child marriage, etc.


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  1. The basic and outstanding features of this plan are that it guarantees money back, offers a death benefit to the nominee and Survival Benefit in the event of survival till the end of the policy tenure
  2. Death Benefit paid is equivalent to the sum insured opted at the time of policy purchase. This death benefit paid is irrespective of the premium amount paid during the policy tenure.
  3. Survival Benefit is paid in instalments in the last 5 years of the policy tenure
  4. Life insured can opt for higher insurance cover and make the plan more robust by opting riders.
  5. The plan offers guaranteed loyalty additions up to 40 per cent of basic sum assured
  6. The plan offers guaranteed maturity additions up to 20 per cent of basic sum assured
  7. In the event of accidental death, the nominee is eligible to receive the additional sum assured up to Rs 50 Lakhs is paid, as the plan has an inbuilt Accidental Death Benefit Rider


Death Benefit

In the event of the death of the life assured, the nominee is eligible to receive the entire sum insured plus accrued bonus. Additionally, in case of the death due to accident, the additional death benefit is paid as the plan consist of inbuilt Accidental Death Benefit Rider.

Survival benefit

In case of survival of the life insured, he/she is eligible to receive survival benefit as under:

For 15 years of Policy TenureFor 20 Years of Policy TenureSum Assured (Percentage)
Received in 11th yearReceived in 16th year15% of SA
Received in 12th yearReceived in 17th year15% of SA
Received in 13th yearReceived in 18th year15% of SA
Received in 14th yearReceived in 19th year15% of SA
Received in 15th yearReceived in 20th year40% of SA

Maturity Benefit

In the event of survival of the life insured till the end of the policy tenure, the insured is eligible to receive a sizeable amount plus accrued guaranteed loyalty additions plus guaranteed maturity additions.

Income Tax Benefit

The life insured can avail income tax benefit on all the premium paid during the policy tenure under section 80C of the Income Tax Act.

Eligibility Criteria

To avail the Reliance Nippon money-back guarantee plan one needs to satisfy the following eligibility criteria

Sum AssuredMinimum: 50000
Maximum: No Limit
Policy TenureMinimum: 15 Years
Maximum: 20 Years
Premium Paying TermMinimum: 5 years
Maximum: 20 Years
(PPT options 5 years, 7 years, 10 years, 15 years or 20 Years)
Age at EntryMinimum: 18 Years
Maximum: 55 Years for 20 years of Policy Tenure & 60 years for 15 years of Policy Tenure
Age at MaturityMinimum: 33 Years
Maximum: 75 Years
Premium Payment ModeYearly, Half-Yearly, Quarterly and Monthly
RidersBuilt-in Rider: Accidental Death Benefit Rider
Add-on Rider: New Major Surgical Rider, New Critical Condition (25) Rider, Term Life Insurance Benefit Rider and Family Income Benefit Rider

Final Words

The Money Back Guaranteed Plan is a comprehensive insurance solution for all your needs. The plan offers insurance protection and money back guarantee. The plan has a built-in rider facility to make it more robust, one can opt for additional add-on riders to widen the scope of protection.

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