Reliance Endowment Plan

Reliance Endowment Plan is a traditional participating endowment policy that increases savings through the payment of additional bonuses and also provides life coverage for the future financial security of your loved ones.

Best Investment Plans
  • Save Upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

Buy Online & Get upto 4% extra#
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

Key Features of Reliance Endowment Plan

  • Participating Endowment plan with regular premium payment option
  • Sum Assured is increased through bonus declarations
  • The policy term can be chosen in multiples of 5 years 

Benefits of Reliance Endowment Plan

Maturity Benefits: On Maturity, the Sum Assured and the vested bonus or 100.1% of total premiums paid is paid to the policyholder

Death Benefits: On death, the nominees get the higher of, the basic sum assured or 10 times the annual premiums and vested bonuses subject to a minimum of 105% of all premiums are paid out.

Tax Benefits: Income tax benefits on premiums under Section 80C and also on the claims under Section 10(10D).

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

5 years

50 years

Maturity Age (Last Birthday)

18 years

75 years

Policy Term (PT) in years

10

25

Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

Depends on SA, age and term

Sum Assured

65,261

No limit for ages 18 & above

500,000 for ages lower than 18 years

Policy Details of Reliance Endowment Plan

Grace Period: For monthly mode, the grace period of 15 days is allowed and for other modes, the grace period is of 30 days is allowed. If the policyholder fails to pay his premiums even within this period, the policy will lapse immediately.

Policy Termination or Surrender Benefit: The Policyholder can surrender the plan after 3 policy years provided the first year’s premiums are paid. The Surrender Value will be higher of the Guaranteed Surrender Value or Special Surrender Value.

GSV = (Total Premiums Paid x GSV Factor for Premiums) + (GSV Factor for bonuses* vested bonus)

SSV = (SSV Factor * Basic Maturity Value * total premiums paid/total premiums payable) + SSV of vested bonus

Free Look Period: If you are not pleased with the coverage and the terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there have been no claims.

Inclusions

 This policy can be used to obtain a loan which is equal to 80% of the policy’s Surrender Value, subject to a minimum of Rs.1000/-.

Exclusions

 If suicide is committed within 12 months of policy commencement, 80% of premiums paid are refundable and if suicide is committed within 12 months of policy reinstatement, higher of 80% of premiums paid or acquired Surrender Value is payable

Documents Required for Reliance Endowment Plan

The Policyholder has to submit an ‘Application form/ proposal form’ with accurate medical history along with the address proof and required KYC documents. A medical examination may be required in some cases, based on the sum assured and the age of the life insured.

You may also like to read: Reliance Investment Plans

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Investment Plan
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Invest More Get More!
You Get
₹1 Crores*
You Invest
₹10K/month
You Get
₹80 Lakhs*
You Invest
₹8K/month
You Get
₹50 Lakhs*
You Invest
₹5K/month
Average Rating
(Based on 0 Reviews)
Investment Plan 3

Investment plans articles

Recent Articles
Popular Articles
SBI NRI Account

07 Feb 2024

The State Bank of India (SBI) NRI account is designed for
Read more
How Thanks giving and Black Friday Affect The Indian Stock Market?

23 Nov 2023

Black Friday and Thanksgiving mark the beginning of the holiday
Read more
Axis Bank NRI Account

11 Oct 2023

The Axis Bank NRI Account is a gateway to seamless banking
Read more
ICICI Bank NRI Account

09 Oct 2023

The ICICI NRI Account is a specialized banking solution designed
Read more
Long - Term Income Plans

11 Sep 2023

Long-Term Income Plans are strategic financial products that
Read more
20 Best Investment Options in India in 2024
Investing in the best investment options in India helps to maximize your returns and fulfill your immediate and
Read more
Best NRE Savings Accounts for NRIs in 2024
India is a growing economy and is getting a lot of global recognition these days. It has shown immense growth in
Read more
Short Term Investments Options
Short-term investments are financial assets that can be easily converted to cash within a short period, typically
Read more
How to Change Mobile Number in Post Office Account Online?
Indian Post Payment Bank (IPPB) is the banking division of the Department of Post (Ministry of Communications)
Read more
Post Office Monthly Income Scheme - MIS Interest Rate 2024
The Post Office Monthly Income Scheme is a secure and popular investment option in India, backed by the
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL