Reliance Nippon Super Money Back plan offers assured and steady income to policyholders. The plan offers enhanced security to policyholders and his/her family members as per individual needs. The guaranteed monthly income under the plan is designed to increase with every passing year.
Key features of Reliance Super Money Back Plan:
The key features of the plan include:
- Offers flexibility of premium payments as policyholders can choose to pay monthly, quarterly, half-yearly, or yearly premiums.
- Rebate on high sum assured.
- Money back plans offer a grace period of 30 days for premium payments.
- If the policyholder pays premiums on a monthly basis, the grace period allowed is 15 days.
- Policy lapses in case of premium discontinuation.
- The policy can be revived within two years from the first unpaid premium date.
- The policy can be surrendered at any time to avail of the surrender benefits.
- Surrender value under the policy is guaranteed and higher than the guaranteed surrender value.
- Policyholders can also receive a special surrender value under the policy.
- The policy allows change in sum assured and also the policy term.
- Policyholders can avail loan against the policy. The maximum loan amount is 80% of the total surrender value.
- Policyholder can opt for nomination.
- Free look period under the policy is set at 15 days if it is bought manually and 30 days if bought online.
- Policy terms can be 10, 20, 30, 40, or 50 years.
- Premium payment term is exactly half of the chosen policy tenure.
Reliance Super Money Back plan is designed to offer various benefits like liquidity through money back benefits along with loyalty additions to help policyholders improve their savings.