Reliance Super Endowment Plan is a traditional Endowment Plan with premium payment limited to half of policy term. It provides the dual benefit of savings and life coverage
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
8 years |
60 years |
|
Maturity Age (Last Birthday) |
22 years |
75 years |
|
Policy Term (PT) in years |
14 and 20 |
|
|
Premium Paying Term (PPT) in years |
Half of policy term |
|
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
Depends on SA, age and term |
|
|
Sum Assured |
100,000 |
No limit
|
Annual premium in Rupees for SA of 1 lakh
|
Age |
25 years |
35 years |
45 years |
|
Policy term 14 years |
9,147 |
9,224 |
9,532 |
|
Policy term 20 years |
5,208 |
5,327 |
5,732 |
Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days for 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 plan after 3 full policy years provided the first years’ premium is paid in full. The Surrender Value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
GSV = (GSV Factor for premiums * total premiums paid)
SSV = (SSV Factor * Paid-up Sum Assured
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.
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and required KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
