Reliance Classic Plan II is a unit linked non-participating Endowment Assurance Plan through which the policyholder can save for future requirements and augment his savings through market participation of funds invested.
Disclaimer : ˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Key Features
The premium paid can be invested in a choice of 5 funds as per the policyholder’s risk appetite namely:
Life Equity Fund 3
Life Corporate Bond Fund 1
Life Money Market Fund 1
Life Pure Equity Fund 2
Life Balanced Fund 1
The premiums can be paid regularly or through Single Pay
The policyholder can average out his risks through Systematic Transfer Plan option under which the units are systematically transferred from low risk to high risk funds at different intervals
Benefits
The maturity Value will be the Fund Value including top-up fund value if any
On death, higher of the Sum Assured or Fund Value + higher of Top-up SA or Top-up Fund Value is paid subject to a minimum of 105% of all premiums paid till death
Additional Sum Assured is paid in case of accidental death
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)
7 years
60 years
Maturity Age (Last Birthday)
22 years
75 years
Policy Term (PT) in years
15
30
Premium Paying Term (PPT) in years
Equal to policy term or Single Pay
Premium Paying Frequency
Yearly, half-yearly, quarterly, monthly
Yearly Premium
Regular Pay – 15,000
Single Pay – 75,000
No limit
Sum Assured
Regular pay – higher of 10 times annual premium or 0.5*policy term*annual premium (if age<45 yrs.)
Or
Higher of 7 times annual premium or 0.25*policy term*annual premium (if age >45 yrs.)
Single pay – 125% of single premium (if age<45 yrs.) or 110% of single premium (if age >45 yrs.)
Regular pay –
7-50 yrs.-30 times annual premium
51-55 yrs.- 25 times annual premium
56-60 yrs.-20 times annual premium
Single Pay –
7-30 yrs. (policy term 15-30 yrs.) – 6 times annual premium
31-40 yrs.(policy term 15-25 yrs.) – 5 times annual premium
31-40 yrs. (policy term 26-30 yrs.) – 3 times annual premium
41-50 yrs. (policy term 15-25 yrs.) – 5 times annual premium
41-50 yrs. (policy term 26-30 yrs.) – 2 times annual premium
51-60 yrs. (policy term 15-24 yrs.) – 2 times annual premium
Details About Premium
Benefit Illustration for a male aged 30 years with a 15 year policy term
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:the policyholder can surrender the policy after 5 completed policy years, and Financial planning benefits from the best SIP in India when aligning long-term investment decisions with liquidity needs. The fund value on the date of surrender will be paid. If surrendered before completion of 5 policy years, the fund value net of charges will be credited to the Discontinued Policy Fund where it will earn a guaranteed interest of 4% p.a. compounded annually. After 5 years is completed, the resultant Fund Value will be paid to the policyholder.
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
52 free switches are allowed per policy year
The policyholder can redirect future premiums towards another funds through Premium Redirection option
After 5 completed years, the policy benefits can be transferred to another plan
Additional Features or Riders
There is an inbuilt Accidental Death Benefit rider which pays additional SA on death due to accident
Top-ups are allowed under the plan and the SA is increased after the top-up @ 125% or 110% of the top-up premium paid if age is less than or greater than 45 years respectively
Partial Withdrawals are allowed after 5 completed policy years and also from top-up funds 5 years after the top-up payment
The policyholder can choose to receive the maturity benefit in 5 equal instalments over 5 years post maturity through the Settlement Option
Exclusions
In case of suicide committed within 12 months of policy inception, only the Fund Value as on that date is payable
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.
The surrender value of a ULIP is the value of moneyreceived by an investor if they decide to terminate the ULIP
Read more
Reliance Life ULIP Plans Reviews & Ratings
4.6 / 5 (Based on 1217 Reviews)
(Showing Newest 10 reviews)
Vikram
Hyderabad, September 07, 2026
★★★★★
Wealth Building Made Easy
ICICI prudential life signature seemed complicated at first but policybazaar rep broke it down in simple words now i understand where my money is going satisfied with this plan
Venkat
Siliguri, August 05, 2026
★★★★★
Smart Savings Smart Choice
Reliance Nippon Life Smart Savings Insurance Plan purchased through PolicyBazaar is a smart choice for long term savings. The plan features are comprehensive ensuring financial security. Kudos to PolicyBazaar for their impressive service.
Meera
Jamshedpur, August 04, 2026
★★★★★
Optimizing Wealth Optimizing Future
Opting for Kotak Mahindra Wealth Optimise through PolicyBazaar was a strategic choice. The plans features are exceptional providing a diverse range of investment options. PolicyBazaars service exceeded my expectations.
Prakash
Cuttack, August 03, 2026
★★★★★
Wealth Accumulation Simplified
SBI Life Smart Wealth Builder made easy by PolicyBazaar gives you easy way to make more money. The plan has strong stuff keeping your future safe. PolicyBazaar did very good service.
Shalini
Ranchi, August 02, 2026
★★★★★
PolicyBazaar Setting the Standard for Service
PolicyBazaars service set a high standard. Their teams knowledge and assistance in choosing the right ULIP plan were exemplary. A top notch experience overall.
Sumit
Pune, July 24, 2026
★★★★★
A Click to Secure Future
HDFC Life Click two Invest bought through PolicyBazaar provides a secure investment avenue. The plan features are comprehensive and user friendly. PolicyBazaar service was commendable throughout.
Divya
Ranchi, June 22, 2025
★★★★★
Kotak E Invest plus Policybazaar equal Win
Best combo. Policybazaars help made it stress free.
Harsha
Guwahati, June 21, 2025
★★★★★
Promise for Growth Plus Is Understated
It quietly delivers what it promises. Good pick.
Meera
Vellore, June 20, 2025
★★★★★
Click to Invest Makes Investing Fun
Simple UI digital first and a great entry level product.
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in 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. *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
