Induslnd Nippon Super Assured Future

Eligibility Criteria for the Induslnd Nippon Super Assured Future Plan

Features of the Induslnd Nippon Super Assured Future Plan

Understanding the key aspects of a policy helps in evaluating its value. Here are its primary features.

• Life Insurance Protection: The policy offers a full life cover during the policy period, which is a financial coverage for the nominee.
• Guaranteed Additions: Guaranteed additions that are concluded at the end of the initial policy year continue to accrue annually and add to the maturity amount. Induslnd Nippon Super Assured Future plan is considered among the best investment plans for combining savings with life insurance protection.
• Guaranteed Loyalty Additions: Loyalty additions commence following a given number of years of policy, and the higher the ultimate payout.
• Pay at Flexible Premiums: The policyholders are also allowed to select premium payment terms of 5, 7, 8, 10 or 12 years based on their financial ability.
• Settlement Option: Upon maturity, the payout becomes convertible into regular income within 5, 10 or 15 years.
• Several Premium Payment Frequencies: Better financial planning can be done by paying premiums on an annual, half-yearly, quarterly and monthly basis.

Benefits of the Induslnd Nippon Super Assured Future Plan

Here are the key benefits of the Reliance Nippin Super Assured Future Plan:

• Maturity Benefit: Depending on the survival till the expiry of the policy term, the policyholder receives the sum assured at maturity, as well as the additional guaranteed and loyalty additions.
• Death Benefit: Upon the unfortunate demise of the policyholder within the policy period, the nominee is entitled to the greater of:
  • Sum assured on death.
  • All premiums paid and additions made to accruals 105%.
  • Income Settlement Option
• Tax Advantages: Some of them, like premiums and benefits, can qualify for tax breaks under current tax laws. A closer look at the plan's benefits highlights why it is often considered among the best investment plans within Reliance Life Investment Plans.

Riders Under the Induslnd Nippon Super Assured Future Plan

Riders allow policyholders to expand their protection beyond the base coverage. Here are the riders available with this plan:

1. Accidental Death Benefit Rider

   Offers an extra lump sum payment in case the insured dies because of an accident.

2. Accidental Death And Disability Rider

   Provides financial assistance when one dies accidentally or becomes permanently disabled.

3. Accidental Death And Disability Plus Rider

   Gives disability benefits and waiver of future premiums.

4. Critical Illness Rider

   Makes a lump-sum payment when one has been diagnosed with certain critical diseases like cancer or a heart attack.

Policy Details of the Induslnd Nippon Super Assured Future Plan

Understanding operational policy provisions ensures clarity during the policy tenure. The following are the key details:

1. Grace Period

   The monthly premiums due date is allowed a grace period of 15 days and other payment modes a grace period of 30 days to pay overdue premiums without lapsing coverage.

2. Revival

   The lapsed policy could be reinstated within a span of five years based on the initial date of unpaid premiums, through the payment of arrears and interest.

3. Free Look Period

   The policyholders are given 30 days of free look period to peruse the terms of the policies. In case of dissatisfaction, the policy can be cancelled and the premium returned after deductions.

4. Surrender

   Surrender value is gained by the policy upon the successful completion of the first policy year, as long as a minimum of one year's payment of the premiums has been made.

5. Loan

   To the extent of the interests prevailing, policy loans can be given to up to 70% of the surrender value.

Exclusions Under the Induslnd Nippon Super Assured Future Plan

Suicidal Cover

In case the life assured commits suicide within 12 months after the commencement or revival of the policy, the nominee gets the payment of 80% of the accumulated sums of total premiums paid or surrender value, whichever is greater.