Induslnd Nippon Nishchit Samrudhi Plus Plan

Eligibility Criteria for the Induslnd Nippon Nishchit Samrudhi Plus Plan

Before selecting a policy, it is essential to review the eligibility conditions that determine who can purchase the plan:

Features of Induslnd Nippon Nishchit Samrudhi Plus Plan

Understanding the key features allows investors to see how the plan combines structured savings with reliable insurance protection. Here are the primary highlights of the plan:

• Guaranteed Life Cover: The policy provides life insurance cover during the period of the policy term, where the financial security of the nominee is guaranteed in the case of the death of the life assured.
• Flexible Premium Terms of Payment: The policyholders may opt to pay a premium for 5, 8, 10 or 12 years, and this offers them flexibility in managing the financial obligations.
• Long-Term Guaranteed Income: The scheme offers assured yearly earnings over a maximum of 30 years, and as such, it is among the appealing alternatives in Reliance Life Investment Plans.
• Increasing Income Benefits: The guaranteed income increases at a basic rate of 5% per year, which can be used to compensate for inflation and increasing financial demands.
• Flexi Wallet Facility: The policyholders can save their income benefits in a Flexi Wallet and access the money when they need it.
• Multiple Premium Payment Modes: Premiums can be paid yearly, half-yearly, quarterly, or monthly through electronic payment options.

Benefits of the Induslnd Nippon Nishchit Samrudhi Plus Plan

The benefits structure highlights how the policy provides both protection and predictable returns. Let us review the major benefits.

• Death Benefit: In the event of the nominee passing on in the policy term due to the death of the life assured, he will be entitled to the greater amount of the following:
• Sum Assured on Death (11 times annual premium), or
• Product Death benefit factor times total premiums paid.
• The Flexi Wallet also pays the nominee any balance that is in the wallet.
• Survival Benefit: The policyholder will receive Guaranteed Annual Income (GAI) on an annual basis during the period of income. The level of income is growing by 5% every year, which helps to ensure an annual financial support.
• Maturity Benefit: At the maturity date of the policy, in case of survival to the end of the maturity date, the policyholder gets:
• Sum Assured on Maturity, plus
• Any amount that is accrued in the Flexi Wallet.
• This maturity payout may be a retirement corpus or legacy fund.

Riders Under the Induslnd Nippon Nishchit Samrudhi Plus Plan

Riders provide additional protection against unforeseen circumstances. Here are the optional riders available with the plan.

• Accidental Death Benefit Rider - Includes an extra lump sum provided there is death as a result of an accident.
• Accidental Death and Disability Rider - This is to provide financial assistance in case of accidental death or permanent disability.
• Accidental Death and Disability Plus Rider - This policy includes waiver of future premiums and disability benefits.
• Critical Illness Rider - This will benefit once diagnosed with one of the mentioned critical illnesses in the form of a lump sum.

Policy Details of the Induslnd Nippon Nishchit Samrudhi Plus Plan

Understanding policy servicing provisions ensures policyholders know how the plan operates throughout its duration. Here are the key policy details:

1. Grace Period

   The policy will permit a 30-day (15 days in the case of the monthly mode) grace period in which the premium outstanding can be paid after the due date without the policy being terminated.

2. Revival

   The lapsed policy can be reinstated within a period of five years after the initial nonpayment premium date by paying the unpaid premiums plus interest.

3. Free Look Period

   Policyholders receive a 30-day free look period to review policy terms and cancel the plan if unsatisfied.

4. Surrender

   The policy will obtain a surrender value at the end of one policy year, so long as the first year's premium is paid.

5. Loan

   When the policy attains surrender value, a policy loan of up to 70% of the policy surrenders can be availed by a client.

Exclusions Under the Induslnd Nippon Nishchit Samrudhi Plus Plan

Suicidal Clause

In case the life assured passes away through suicide within 12 months of policy commencement or revival, the nominee gets 80% of the total premiums paid or the amount of the surrender value, whichever is greater.