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Reliance Classic Plan II
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.
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Reliance Life Ulip Plans
- Reliance Classic Plan II
List of ULIP Funds ~
Fund Name
AUM
NAV
Returns (in %)
3 Year
5 Year
10 Year
Midcap Fund
SBI Life
AUM:57,040 Cr
57,040 Cr
NAV
50.43
-50.43%
Returns
19.16%
Highest Returns
Opportunities Fund
HDFC Life
AUM:35,377 Cr
35,377 Cr
NAV
79.15
0.52%
Returns
15.53%
Highest Returns
High Growth Pension Fund
Axis Max Life
AUM:4 Cr
4 Cr
NAV
10.38
0.01%
Returns
22.85%
Highest Returns
US Technology Advantage Fund
ICICI Prudential Life
AUM:0 Cr
0 Cr
NAV
0.00%
Returns
-
Multi Cap Fund
Tata AIA Life
AUM:10,579 Cr
10,579 Cr
NAV
66.28
-66.28%
Returns
16.42%
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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:
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|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
7 years |
60 years |
|
Maturity Age (Last Birthday) |
22 years |
75 years |
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Policy Term (PT) in years |
15 |
30 |
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Premium Paying Term (PPT) in years |
Equal to policy term or Single Pay |
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|
Premium Paying Frequency |
Yearly, half-yearly, quarterly, monthly |
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Yearly Premium |
Regular Pay – 15,000 Single Pay – 75,000 |
No limit |
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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
|
Annual Premium |
SA |
Fund at the end of 6 years |
Fund at the end of 10 years |
Fund at maturity |
|||
|
@ 4% |
@ 8% |
@ 4% |
@ 8% |
@ 4% |
@ 8% |
||
|
50,000 |
500,000 |
298,561 |
342,510 |
527,262 |
658,002 |
853,078 |
11,88,068 |
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns | |
|---|---|---|---|---|---|
| Bandhan Life Debt Fund | ₹40.4 | ₹93 Cr | 5.77% | 6.74% | |
| Bandhan Life Secure Fund | ₹28.75 | ₹46 Cr | 5.25% | 4.6% | |
| Bandhan Life Blue Chip Equity Fund | ₹30.68 | ₹206 Cr | 10.79% | 11.55% | |
| Bandhan Life Stable Fund | ₹32.65 | ₹17 Cr | 7.17% | 8.82% | |
| Bandhan Life Accelerator Fund | ₹47.61 | ₹219 Cr | 12.58% | 13.16% | |
| Bandhan Life Opportunity Fund | ₹40.33 | ₹234 Cr | 16.68% | - | |
| Bandhan Life Pension Debt Fund | ₹32.12 | ₹4 Cr | 5.6% | 6.53% | |
| Bandhan Life Pension Enhanced Equity | ₹111.81 | ₹18 Cr | 12.93% | 13.01% | |
| Bandhan Life Pension Nifty 500 Momentum Quality 50 Index Fund | ₹9.63 | ₹2 Cr | - | - | |
| Aegon Balanced | ₹44.71 | ₹12 Cr | 7.45% | 8.68% | |
| Aegon Enhanced Equity | ₹69.2 | ₹69 Cr | 12.39% | 12.37% | |
| Aegon Pension Balanced | ₹51.05 | ₹2 Cr | 8.32% | 9.22% | |
| Aegon Pension Index | ₹85.04 | ₹6 Cr | 8.2% | 10.47% | |
| Aegon Pension Secure | ₹28.59 | ₹1 Cr | 4.62% | 4.95% | |
| Aegon Life Group Equity Fund | ₹59.59 | ₹13 Cr | 13.35% | - | |
| Bandhan Life Flexi Cap Fund | ₹11.21 | ₹91 Cr | - | - | |
| Bandhan Life Mid Cap Fund | ₹10.29 | ₹82 Cr | - | - |
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Policy Details
- 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
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.
Insurers Offering ULIPs
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜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
*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