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The Policyholder has to submit an `Application form/ proposal form with accurate medical history along with the address proof and required KYC documents. A medical examination may be required in some cases, based on the sum assured and the age of the life insured. You may also like to read: Reliance Investment Plans

Maturity Benefits: On Maturity, the Sum Assured and the vested bonus or 100.1% of total premiums paid is paid to the policyholder Death Benefits: On death, the nominees get the higher of, the basic sum assured or 10 times the annual premiums and vested bonuses subject to a minimum of 105% of all premiums are paid out. Tax Benefits: Income tax benefits on premiums under Section 80C and also on the claims under Section 10(10D).

Q.1) What are the benefits of higher sum assured amount? The insured can avail best discounts on their premiums for higher sum assured. Discounts are as per Rs. 1000 sum assured as follows: On availing a sum assured amount less than Rs 2, 50, 000, the insured does not get any premium discount; On availing a sum assured of Rs 2, 50, 000 and above but less than Rs 5, 00, 000, the insured gets a rebate on premiums, i.e. (sum assured / 1000) x 3; On availing a sum assured of Rs 5, 00,000 and above but lesser than Rs 10, 00, 000, the insured gets a rebate on premiums, i.e. (sum assured / 1000) x 4; On availing a sum assured of Rs 10, 00, 000 and above, the insured gets a rebate on premiums, i.e. (sum assured / 1000) x 5. Q.2) Can I take a loan against this plan? Yes, you can avail loan against this plan but the amount cannot exceed 80% of the acquired surrender value under the base plan. The current interest rate of the company is 9% and the same applies to the loan and is subject to change. Q.3)What are the conditions under which policy may lapse? If the insured discontinues paying his premiums, then the policy is subject to lapse under the following conditions: If the chosen policy term is 14 years, and the insured does not pay premiums for first 2 years, then the policy shall lapse at the end of the grace period and the insurance cover with rider benefits will cease automatically. If the policy term is 20 years, and the insured does not pay his premiums for first 3 years, then the policy shall lapse at the end of the grace period and the insurance cover with rider benefits will cease automatically. The lapsed policy can be renewed anytime within the policy renewal period. If the insured fails to renew even within the renewal period, then the policy shall be terminated. Q.4) Under what condition will the plan turn into a paid-up policy? Below are the conditions under which the policy shall convert into a paid-up plan: If the chosen policy term is 14 years and you have paid your premiums regularly for first two years of the policy term, then your failure to make further payments will automatically convert your policy into a paid up policy. If the policy term is 20 years and you pay your premiums regularly at least for first 3 years of your policy term, then the policy shall automatically convert into a paid-up policy. Q.5) Can I renew the lapsed or paid-up policy? Yes, the policy which has acquired a paid-up value or has lapsed due to the failure of premium payments can be renewed during the policy renewal period by paying the premium arrears along with the current interest rates. Q.6) What will be the premiums for rider cover benefits? Rider coverage payments add to the basic coverage premium of the policy. So, in case you have multiple riders, the premium payouts would be higher as compared to the basic coverage premium payments.

Policy Detailsof Reliance Endowment Plan Grace Period: For monthly mode, the grace period of 15 days is allowed and for other modes, the grace period is of 30 days is allowed. If the policyholder fails to pay his premiums even within this period, the policy will lapse immediately. Policy Termination or Surrender Benefit: The Policyholder can surrender the plan after 3 policy years provided the first years premiums are paid. The Surrender Value will be higher of the Guaranteed Surrender Value or Special Surrender Value. GSV = (Total Premiums Paid x GSV Factor for Premiums) + (GSV Factor for bonuses* vested bonus) SSV = (SSV Factor * Basic Maturity Value * total premiums paid/total premiums payable) + SSV of vested bonus Free Look Period: If you are not pleased with the coverage and the 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 have been no claims. Inclusions This policy can be used to obtain a loan which is equal to 80% of the policys Surrender Value, subject to a minimum of Rs.1000/-. Exclusions If suicide is committed within 12 months of policy commencement, 80% of premiums paid are refundable and if suicide is committed within 12 months of policy reinstatement, higher of 80% of premiums paid or acquired Surrender Value is payable

Reliance Endowment Plan is a traditional participating endowment policy that increases savings through the payment of additional bonuses and also provides life coverage for the future financial security of your loved ones. Key Featuresof Reliance Endowment Plan Participating Endowment plan with regular premium payment option Sum Assured is increased through bonus declarations The policy term can be chosen in multiples of 5 years