Reliance Life Pension Plans – Check Reliance Smart Pension Plan and Reliance Immediate Annuity Plan Details

Reliance Life Pension Plans

Reliance Life Pension Plans Offered by Reliance Life Insurance Company. Reliance Life Pension plan provides the best policies with a broad range of benefits for you and your Family. Reliance Life Insurance offers Various Reliance Retirement Plan for Individual, Family, etc. For all these Reliance Pension plans, some different Features and Benefits mentioned below.

List of Reliance Life Pension Plans

  1. Reliance Smart Pension Plan.
  2. Reliance Immediate Annuity Plan.

1. Reliance Smart Pension Plan

1. Reliance Smart Pension Plan

Reliance Life Insurance Smart Pension Plan is one of the right choices of solution for you. It is a non-participating unit linked pension plan that allows you to save systematically and build up the much-needed corpus to make your autumn years very special.

Eligibility:

CriteriaEligibility
Age at entry18 years – 65 years last birthday
Vesting age45 Years & 75 Years
Policy TermSingle pay: 10 Years
Regular or Limited pay: 15 YearsMaximum 30 Years.
Premium Payment termMinimum 10 Years & Maximum 30 Years
Annual Premium AmountRegular Pay: Rs.20,000/-Limited Pay: Rs. 24,000/-Single Pay: Rs. 50,000/-
Mode of the Premium PaymentYearly, Half Yearly, Quarterly, Monthly

Key Features:

  • It is a non-participating unit-linked pension product with maturity/vesting age between 45 & 75 years.
  • Guaranteed Loyalty Additions of up to 9% of the Annualized/Single premium at the end of every third policy year from the end of 6th policy year if the policy is in force.
  • The flexibility of premium payment in Regular /Limited/ Single Payment mode.
  • A host of optional Riders to choose from.
  • Option to pay Top-up premium(s).

Benefits:

  • Death Benefits: On the death of the life assured provided the policy is in force as on the date of death.
  • Maturity Benefit: No Maturity Benefits are available in the Reliance Retirement plan.
  • Rider Benefits: Riders are not allowed under this plans.
  • Loyalty Addition Benefit: Starting from the end of the sixth policy year, provided all due premiums have been paid.
  • Tax Benefits: Get tax benefits on the investment and returns, as per applicable income tax laws. For more information regarding Tax Benefits.

Reliance Smart Pension Plan

2. Reliance Immediate Annuity Plan

2. Reliance Immediate Annuity Plan

Eligibility Details:

Minimum annuity installmentRs.1,000

Minimum age at entry20 Last Birthday
Maximum age at entry80 Last Birthday
Minimum purchase priceRs.1,00,000

Key Features:

  • Thinstallment.Rs.1,000oose one time lump sum amount that you wish for paying this plan to purchase.
  • Choose from three different annuity payout options.
  • Convenient annuity payout modes to choose from – Monthly, Quarterly, Half-yearly and Annually from the date of purchase.
  • No medical tests required.

Benefits:

Types of annuities available:

1. Annuity for Life: In the annuity plan for the life, the pension should be paid throughout the life of the Annuitant.

2. Annuity for 5/10/15/ years and after that for life: In this type of annuity, the annuity is payable for a certain period of 5, 10 or 15 years (as chosen by the Annuitant) and after that for the life of the annuitant.

3. Life annuity with return of Purchase price: In this type of annuity, the annuity is payable for the lifetime of the Annuitant, and on the death of the annuitant the purchase price is repaid to the nominee.

Reliance Immediate Annuity Plan

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