Quote Form

Our representative will call you within few minutes
Investment Plans 834 views November 28, 2020
Everybody should have a Life Insurance to protect their family in case something unfortunate happens to them. But what if we tell you that an investment in life insurance can also help you accumulate a substantial amount for your future goals and retirement. Well, with the help of Reliance Nippon Life Super Endowment Plan, individuals can achieve the savings goal with the help of guaranteed returns. These returns can help accomplish goals such as retirement corpus, child’s education, marriage expenses, etc.
Reliance Nippon Life Super Endowment Plan is a non-linked, non-participating, non-variable, endowment plan that offers the convenience and consistency to enjoy your passion even when you are retired from work. So, if you are looking for an insurance plan that can protect your family as well as give you guaranteed returns on maturity, this could be a good option for you!.
So, what are some other features of this life insurance option from Reliance Nippon? Well, we will be discussing all the features of this plan along with some other important information of this plan which is its benefits, eligibility criteria, etc. Keep reading!
Table of Contents
Knowing the policy features can help you enhance your benefits and choose a policy term wisely. So, let’s check out the features below and maximize.
Now that you have known the key features of this plan from Reliance Nippon, it’s time to know the benefits that you should enjoy. Let’s check out such benefits below.
At the end of the policy i.e. at the time of maturity, Reliance Nippon will provide a guaranteed sum assured on the maturity of the policy. However, there are a few important conditions one should meet. First, the policy should be active. Second, there should not have any due premiums left to pay.
In case the insured person meets with something unfortunate like Death during the policy term, Reliance Nippon will provide a maximum guaranteed sum assured to the nominee as on the date of death. The maximum amount can be either of the following two things.
Policyholders can enjoy additional rider benefits by paying a nominal amount. With these riders, you can protect yourself and your beloved ones financially in case any unfortunate event takes place. We are showing them below.
With Reliance Nippon Life Super Endowment Plan, you can enjoy a rebate if you pay premiums for a high sum assured amount. This rebate will be according to the sum assured chosen by you and applicable per INR 1,000 of the Sum Assured Amount. We are showing it in the table below.
Sum Assured Amount | Rebate per INR 1,000 on Sum Assured |
Less than 2,50,000 | Nil |
2,50,00 and above but less than 5,00,000 | Nil |
5,00,000 and above but less than 10,00,000 | 4 |
10,00,000 and above | 5 |
Reliance Nippon provides a grace period of 30 days to review the terms and conditions of this policy if you have paid the premiums via Yearly, Half-yearly or Quarterly Mode. In case you have paid the premiums via a monthly mode, you will get a grace period of 15 days.
If you need urgent money, this policy from Reliance Nippon can help you get so. You can opt for a loan amount up to 80% of the overall Surrender Value of your policy. The interest on such loans will be 9% per annum. At any point during your loan tenure, if the sum of the loan amount and interest on the outstanding principal amount is more than 95% of the surrender value, the policy will be terminated. The company will recover the outstanding principal amount and interest amount. The balance amount (if any) will be paid to the policyholder.
What are the conditions you need to fulfill for getting Reliance Nippon Life Super Endowment Plan? Well, we are showing all of them below. Do check!