Reliance Fixed Savings Plan

Reliance Fixed Savings is a non-participating traditional Endowment Assurance plan which provides a host of benefits to build up a high corpus to provide for future needs

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

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD+

In-built life cover
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
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold

Reliance Fixed Savings - Key Features 

  • Limited payment Endowment plan
  • Fixed Regular Additions accrue from the first year itself and payable on the first day of the last policy year 

Reliance Fixed Savings - Benefits 

Fixed Regular Additions are accrued @ 8% in the first year, 9% in the second year and 10% from the third year onwards till the end of policy term

Maturity Benefits: On survival till maturity the Guaranteed Sum Assured and Fixed Maturity Addition is payable.

          Guaranteed Sum Assured = (Annual Premium * policy term)

          Fixed Maturity Addition = Annual Premium * Maturity Factor

Death Benefits: If the insured dies before the maturity, then the nominee gets the sum assured on death subject to a minimum of 105% of the total premium amounts paid till death + accrued Fixed Regular Additions

    SA on death is defined as the higher of, Total Annual Premium x Death Benefit

    Or, Guaranteed Sum Assured on Maturity

Tax Benefits: All the claims that are received and premiums paid are eligible for tax deductions Under Section 80C and 10(10D) of Income Tax Act. 

Reliance Fixed Savings - Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

8 years

60 years

Maturity Age (Last Birthday)

20 years

80 years

Policy Term (PT) in years

12 / 15 / 20

Premium Paying Term (PPT) in years

5 / 7 / 10

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

25,000

No limit

 

Details About Premium

Annual premium in Rupees and benefit illustration

Premium (1)

PPT (2)

Policy Term (3)

Annual Premium * PPT (4)

Fixed Maturity Addition (5)

Total Maturity Payout (4+5)

Fixed Regular Addition (6)

50,000

7 years

20 years

350,000

267,025

617,025

98,500

Reliance Fixed Savings - Policy Details 

Grace Period: The insured is allowed a grace period of 15 days for his monthly premium payment modes; and, if the insured fails to pay his premiums of other premium payment modes, then he is allowed for a 30 days grace period. However, if the insured fails to pay his premiums even within the allowed grace period then his policy is subject to lapse. 

Policy Termination or Surrender Benefit: The insured is allowed to surrender his endowment plan anytime, given he has completely paid his premiums for 2/3 years since inception. The surrender value shall be a higher of the Guaranteed Surrender Value and Special Surrender Value. 

GSV = (GSV Factor for premiums * total premiums paid – accrued Fixed Regular Additions) + Cash VAlu of Fixed Regular Additions 

Free Look Period: If the insured would not be plan with the cover and its terms and conditions of, then he has the choice to cancel it within 15 days of receiving the policy documents, given no claims have been done yet.

Inclusions 

    Loan is not available under the plan 

Additional Features or Riders 

The insured has the benefit to customize his plan with additional rider covers at affordable premium amounts as below: 

  • Term Life Insurance Benefit Rider
  • Critical Conditions Rider
  • Major Surgical Benefit Rider
  • Family Income Benefit Rider
  • Accidental Death, and
  • Total and Permanent Disablement Rider 

Exclusions

Suicide: In the insured commits suicide within first year of plan inception, then his family is settled by paying 80% of the total premiums paid by him till date; and if the insured commits suicide within first year of plan renewal, then a higher of 80% premiums paid till date and acquired surrender value is paid. 

Documents Required 

The policyholder has to submit completely filled Application form proposal form with accurate medical history along with the required KYC documents and the address proof. In some cases the insured might be asked to go for a medical examination, based on the sum assured and the age of the person. 

You may also like to read: Reliance Life 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
Insurers Offering Guaranteed Return Plans

Aditya Birla Sun Life

Bajaj Allianz

Max Life

HDFC Life

Bharti AXA Life

Edelweiss Life

Kotak Life

Future Generali

PNB MetLife

SBI Life

Aviva

Bandhan Life

Canara HSBC

IDBI Federal

IndiaFirst

Pramerica Life

Reliance Life

Sahara Life

Shriram Life

Star Union

View more insurers
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
Investment Plan 3

Investment plans articles

Recent Articles
Popular Articles
Tips for Single Mothers to Financially Secure Their Future

17 Jul 2024

Being a single mother comes with unique challenges, especially
Read more
Market Linked Investment

17 Jul 2024

Market Linked Investments in India are a mix of traditional
Read more
Money Management Tips

04 Jul 2024

Effective money management is important for achieving financial
Read more
ICICI Prudential Capital Guarantee Solution

27 Jun 2024

ICICI Prudential Capital Guarantee Solution is a specifically
Read more
Difference Between Savings and Investment Plans

17 Jun 2024

Savings and investment plans are important financial tools with
Read more
20 Best Investment Options in India in 2024
  • 04 Apr 2014
  • 1844188
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
  • 28 Jan 2022
  • 27611
India is a growing economy and is getting a lot of global recognition these days. It has shown immense growth in
Read more
Post Office Senior Citizen Savings Scheme (SCSS) 2024
  • 13 Feb 2020
  • 74051
The Post Office Senior Citizen Savings Scheme (SCSS) is a government-backed scheme designed specifically for
Read more
Short Term Investments Options
  • 10 Feb 2014
  • 474415
Short-term investments are financial assets that can be easily converted to cash within a short period, ranging
Read more
How to Change Mobile Number in Post Office Account Online?
  • 20 Nov 2021
  • 17753
Indian Post Payment Bank (IPPB) is the banking division of the Department of Post (Ministry of Communications)
Read more

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