Reliance Guaranteed Money Back Plan 

Reliance Guaranteed Money Back Plan is a traditional money back plan where lump sum benefits are paid during the last 5 policy years. Loyalty Additions and Maturity Additions increase the corpus and life cover provides security to the family.

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

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*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
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
View Plans
Please wait. We Are Processing..
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 #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

Reliance Guaranteed Money Back Plan - Key Features

  • Non-participating money-back plan which promises Loyalty Additions and Maturity Additions besides the survival benefits already paid
  • The plan comes with both limited pay and regular pay options
  • Premiums are waived off on insured’s demise but the policy continues

Reliance Guaranteed Money Back Plan - Benefits

  • Survival benefits are paid in the last 5 policy years as a percentage of the SA depending on the policy term
  • Guaranteed Loyalty Additions are paid @ 2% of SA * policy term at maturity
  • Maturity Benefits:  On survival till the date of maturity, Guaranteed Maturity Additions are paid @ 1% of SA * policy term
  • Death Benefits: On death, the nominees get higher of the basic sum assured or 10 x annualized premium or 105% of the total premiums paid
  • The death benefit along with additional sum assured is paid in case of accidental death
  • Tax Benefits: Benefits of tax on the claims received and premiums paid are available under section 10(10D) and under section 80C are eligible under the plan. 

Reliance Guaranteed Money Back Plan - Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

58/55 years for policy term 15 & 20 yrs. respectively

Maturity Age (Last Birthday)

33 years

75 years

Policy Term (PT) in years

15

20

Premium Paying Term (PPT) in years

Policy term

Entry Age

PPT

15 years

18-43

Equal to policy term

44-53

10

54-55

7

55-58

5

20 years

18-47

Equal to policy term

48-53

15

54-55

10

 

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

Depends on term, age and SA chosen

Sum Assured

50,000

No limit

Details About Premium

Annual premium in Rupees for a coverage of I Lakh

Age

25 years

35 years

45 years

PPT = 15 years

8,354

8,559

9,260

PPT = 20 years

6,154

6,425

6,425

Reliance Guaranteed Money Back Plan - Policy Details

  • Grace Period: If the insured fails to pay his monthly premiums by the premium due date, then shall be allowed for a grace period of 15 days to pay his premiums; and if he fails to pay his premiums of any mode other than monthly then he is allowed a grace period of 30 days to pay his premiums. However, if the policyholder fails to make payment even within the grace period, then his policy is subject to lapse.
  • Policy Termination or Surrender Benefit: The policyholder is allowed to surrender the policy after completing 3 policy years if first years premium is fully paid. The value will be the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
  • GSV = (Guaranteed Surrender Value Factor x Total Premiums paid) Survival benefits already paid
  • SSV = SSV Factor * Paid-up SA
  • Free Look Period: If the insured is not happy with his plan, then he has the option cancel it within 15 days of policy inception, given there have been no claims.

Additional Features or Riders

There is an inbuilt Accidental Death Benefit rider in the plan

High Sum Assured rebates are offered for higher coverage of 1 lakh and above

Exclusions

Suicide: In case of suicide committed within 12 months of policy commencement, 80% of premiums paid is refundable and if the suicide is committed within 12 months of policy revival, higher of 80% of premiums paid or the acquired surrender value is payable

 In case of accidental death, the additional SA will not be paid if accidental death occurs due to:

  • Any act of self-injury
  • Participation in any criminal act
  • Abuse of alcohol
  • Racing
  • Any act of war
  • Participation in riot or any civil commotion 

Documents Required

The policyholder has to submit an Application form/ proposal form with the address proof along with other KYC documents. Based on the sum assured and the age of the insured, medical examination may be required, the expenses of the medical examination shall be borne out by the company.

You may also like to read: Reliance Life Investment Plans

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about health plans.

Investment plans articles

Recent Articles
Popular Articles
How to Invest Money

25 Nov 2021

The investment made today is the asset created for tomorrow...
Read more
Gold Bonds in India for NRIs

24 Nov 2021

Gold is an asset whose value increases over time that may be...
Read more
PIS Account for NRI

24 Nov 2021

Non-Resident Indians can operate in the recognized stock...
Read more
Process to Fill SSY Form in Post Office?

20 Nov 2021

The Sukanya Samriddhi Yojana (SSY) is a post office scheme...
Read more
How to Fill a Post Office Savings Bank Form?

20 Nov 2021

Post Office Savings Bank Account is a deposit scheme with easy...
Read more
Best LIC Policies For Investment in 2022
When it comes to purchasing a life insurance plan, 'LIC policies' are the most popular choice for customers. LIC...
Read more
Short Term Investments Options
Short-term investments can be described as temporary investments or marketable securities, which can be easily...
Read more
Post Office Monthly Income Scheme - MIS Interest Rate 2022
Are you looking for an investment avenue which is safe and secure, earns substantial returns with a short locking...
Read more
SBI Life Insurance Plans in India
SBI Life Insurance, a joint venture between State Bank of India (SBI) and BNP Paribas Assurance, provides...
Read more
State Bank Of India Investment Plans
Monthly investments plan is a popular investment options for individuals who wants to gain a profitable investment...
Read more
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL