Reliance Smart Cash Plus Plan

Reliance Smart Cash Plus Plan is a participating traditional Money Back plan with increasing survival benefits and wealth augmentation through bonuses and maturity additions while at the same time providing life insurance benefits

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  • 4.8++ Rated
  • 10.5 Crore Registered Consumer
  • 51 Partners Insurance Partners
  • 5.3 Crore Policies Sold

Investment Plans

  • Plan starting from ₹1,000/month
  • Save upto ₹46,800 in Tax under section 80C^
  • Zero LTCG Tax
  • In built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/Month & Get ₹1 Crore# Tax-Free*
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We are rated++
rating
10.5 Crore
Registered Consumer
51
Insurance Partners
5.3 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

  • It is a regular pay Money Back Plan which promises full Sum Assured on Maturity irrespective of the Survival Benefits already received
  • High Sum Assured Additions for SA higher than 2.5 lakhs and bonuses increase the corpus
  • The survival benefits start at the end of the 4th year and thereafter paid after every 3 years
  • The survival benefits start at 10% of the SA and thereafter increase with every subsequent payment by 5%

Benefits

  • On Maturity, the policyholder gets the basic SA, fixed High SA Additions and bonuses if any
  • On death, the nominee gets higher of the basic SA or 10 times the annual premium + vested bonuses or 105% of total premiums paid if age is lower than 45 years and higher of basic SA or 7 times annual premium or 105% of all premiums paid if age is 45 years or above
  • Income tax benefit on the premium paid as per Section 80C and on claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

14 years

55 years

Maturity Age (Last Birthday)

24 years

70 years

Policy Term (PT) in years

10

22

Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

Depends on term, age and SA chosen

Sum Assured

100,000

No limit

Details about Premium

Benefit Illustration for a 30 year male with Policy term 19 years for a premium of Rs.30,000

 

SA

Money back at 4th yr. @ 10%

Money back at 7th yr. @ 15%

Money back at 10th yr. @ 20%

Money back at 13th yr. @ 25%

Money back at 16th yr. @ 30%

High SA Addition

Vested Bonus

@ 4%

@ 8%

285,361

28,536

42,804

57,072

71,340

85,608

28,536

81,328

216,874

Policy Details

Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days in other modes. If policyholder fails to make payment within the grace period, the policy lapses

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy if first years’ premium is fully paid and after 3 completed policy years. The value will be the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). SSV will be applicable if 3 full years’ premium has been paid

GSV = (GSV Factor * total premiums paid) – Survival benefits already paid + GSV Bonus Factor* vested bonuses

Free Look Period: If you would not be pleased with the coverage, and 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 has been no claim.

Inclusions

  • Loan is available under the plan @ 80% of the Surrender Value

Additional Features or Riders

  • If the aggregate benefits are lower than the total premiums paid, the deficit is paid by the insurer
  • The Maturity value should be a minimum of 100.1% of total premiums paid

Exclusions

  • In case of suicide committed within 12 months of policy commencement, 80% of premiums paid is refundable and if committed within 12 months of policy revival, higher of 80% of premiums paid or the acquired Surrender Value is payable

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Ulip Insurer2
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 1286 Reviews)

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4.6 / 5 (Based on 1286 Reviews)
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