Reliance Super Money Back Plan is a non-participating traditional Money Back plan which also promises increasing regular monthly income so that the liquidity needs of the individual are fulfilled. The lump sum survival benefit also provides cash for financial requirements during regular intervals
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Minimum |
Maximum |
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Entry Age (Last Birthday) |
18 years |
55 years |
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Maturity Age (Last Birthday) |
28 years |
80 years |
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Policy Term (PT) in years |
10 |
50 |
|
Premium Paying Term (PPT) in years |
Half of policy term |
|
|
Premium Paying Frequency |
Annual, half-yearly, quarterly, monthly |
|
|
Yearly Premium |
Depends on term, age and SA chosen |
|
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Sum Assured |
100,000 |
No limit |
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. The value will be the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
GSV = (GSV Factor * total premiums paid) – Survival benefits already paid
SSV = SSV Factor * Paid-up SA
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 other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.
