All Rights Reserved.. Sign up our newsletter and get email about annuity plans. The fine amount can be a maximum of Rs 500. There are 3 different options in this plan to receive the payout. If Kiran survives till vesting and utilizes the entire corpus to purchase Immediate Annuity Plan with Life Annuity with Return of Purchase price option. The insured can also choose to extend his retirement age if required. *The information provided on this website/page is only for information sake. Life retirement plans offer the insured with the security of knowing that their hard earned money is invested safely post retirement. Up to 1/3rd of the benefit can be taken as tax-free commuted value, as prescribed under section 10(10A) of the Income Tax Act, 1961. Once you have purchased the immediate annuity plan, the annuity rate will be guaranteed for life. It gives the insured the power of gifting himself a salary for life. Our representative will get back to you soon. Q: What is the prohibition of rebates under this plan? With the ever increasing inflation, it would be good thinking to start building a retirement fund early. Q: What are the conditions for nominations under the plan? You are free to choose the payout frequency as per your requirement. Any policyholder found making defaults in obeying the provisions of this section shall be considered punishable with a fine amount as declared by the company. Enter your number below. Below are the key features of the reliance Immediate Annuity Plan: The benefits of Reliance Immediate Annuity Plan are below: Below are the criteria for eligibility for Reliance Immediate Annuity Plan: Minimum age of entry is 20 years as at last birthday, Maximum age of entry is 80 years as at last birthday, RS 1,00,000 is the minimum purchase price, There is no limit on the maximum purchase price, RS 1000 is the minimum Annuity Installment. Insurance is the subject matter of This Page is BLOCKED as it is using Iframes. Insurance products and services are offered by Reliance Standard Life Insurance Company in all states (except New York), the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam. Life Annuity … After the expiry of the payout term, the annuitant will receive the income for life. 0000001343 00000 n 19 0 obj <>stream Most of the individuals don’t want to compromise their life after retirement so they make an investment for their future. Copyright © 2020 Enjoy Tax Benefits as per the prevailing Income Tax Law in this plan. Q: What is the exit option available under the plan? Reliance Immediate Annuity Plan requires the insured to make a one-time payment which requires him to pay the premium for the policy only once. The company doesn’t give you the option to exit the policy once it has been started. Policy solicitation. The information displayed on this website is of the insurers with whom our company has an agreement. 0000001715 00000 n To know the right investment, please fill the details below and our policy experts will get in touch with you. There is no option for taking a loan or borrowing money from the company against the policy. “Base Plan/ Plan” means Reliance Nippon Life Immediate Annuity Plan (UIN: 121N012V02) “Base Policy/ Policy” means this Reliance Nippon Life Immediate Annuity Policy, which is the evidence of the contract between Reliance Nippon Life Insurance Company Limited ('the Company‟) and the Policyholder. 4 16 In this option, you will receive the annuity for a specified period of time that will be chosen at the time of inception of the policy. There is no need for a medical test to buy this plan. Insurance is the subject matter of This plan allows the insured to start saving systematically in order to build the lump sum that is required to provide a steady income post retirement. Reliance Nippon Life Pension Builder is a non-linked, participating, deferred pension plan helps you to save regularly, so you can secure your retirement with guaranteed income for the whole life. The Reliance Immediate Annuity Plan provides the support to its insurance holders who are planning to retire early. Reliance Nippon Life Immediate Annuity Plan and Policy - Reliance life insurance is among the country's top private life insurance providers. Leaving so soon? It is declared as a percentage of the Vested Reversionary Bonus. Moreover, tax benefits can be availed on investments as well as on returns as per the Income Tax laws. :m��JF�u �����h$�7�xk�!���խ�o�>�߻�o����7n��&x����$WF��~���;b��?���س�1F\\�ŗ�B.�m�QB���Zru�����Cpo�m���͛���>��G����>�������y�m�"��R���Q��_���R�5���8�����9l$�Z��q�|��m�;t��m}j�-'���V?L���8�͗�q�3Ko�G�|{����1Ԓ9�#�].��X��=l^�{��pw���ׇ��wO�׷���R��}�y����������ݑ�. Terminal Bonus is also payable on maturity or death from 10th policy year onwards. Quotes, 10 To 20 Years (5/7 Years Limited Pay) 15 To 20 Years (10 Years Limited Pay), Limited Pay (5/7/10 Years), Equal To Policy Tenure, Annually, Semi Annually, Quarterly, Monthly, Limited Pay: Rs 35,000 (5/7 Years), Rs 25,000 (10 Years) Regular Pay: Rs 25,000, 15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy, Guaranteed regular income after retirement. It follows a customer centric approach and has a claim settlement ratio of 91% with over 10 million policies in force. <<7DB518FA9614724D990463F8047BB5FC>]/Prev 102196>> He chooses the policy term to be of 20 years. The Annuity Payout modes are monthly, quarterly, half-yearly and yearly. xref It offers a variety of annuity options and depending on the type of annuity and payout frequency chosen you start receiving regular annuity income. Surrender value can be acquired on payment of all due premiums for at least 2 full annualized premiums, if the premium payment term is less than 10 years. 4 0 obj <> endobj 0000000835 00000 n Benefits of Reliance Immediate Annuity Plan . Key Features of Reliance Immediate Annuity Policy, Payout Options of the Immediate Annuity Plan, What Happens If You Stop Paying Life Insurance Premiums. The annuity rates change from time to time and you will have to ask for it at the time of inception of the policy. At the time of Vesting, there are 3 available options for Annuity now, which is taken from Reliance Immediate Annuity Plan.

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