Skip to main content

Reliance Life Insurance Smart Pension Plan

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

 

Reliance Life Insurance Smart pension Plan is a non-participating Unit linked insurance plan. It works like a normal pension plan where you keep on paying the premiums as per the term and premium amount chosen and on maturity/ vesting age , you commute up to 33% of corpus and for rest you compulsorily have to buy an annuity. Besides maturity benefit there is death sum assured also attached which is available only if the policy is in force and is the maximum of the fund value or 105% of the premium paid. This policy also offers some guaranteed loyalty additions of up to 9% of the annualised single premium at every 3 years interval starting from the 6th policy year. There are some additional and optional riders offered along with the plan, and no points of guessing that riders have its own cost.

 

Reliance Life Insurance Smart pension plan – Key benefits

Below are some of the key benefits available to the unit holders of Reliance Life insurance Smart pension plan , provided the policy is in force and all due premiums have been paid.

Death benefit: -Higher of the total fund value as on the date of intimation of death or 105% of total premium paid. Nominee can either withdraw the proceeds or can buy annuity from the company.

Survival / maturity benefit: – Higher of the total fund value on maturity/vesting date or 101% of total premiums paid. Please do note that survival benefit has compulsorily to be used to buy annuity / immediate pension plan from reliance life insurance. Maximum of 33% of fund value can be commuted and claimed as lump sum.

Rider benefits:- There are various optional rider benefits offered under this plan on payment of extra rider premium. These rider benefits can be selected either on the commencement of the policy or on any policy anniversary. For any rider the maximum sum assured is the "Nominal Base Sum Assured" which is equal to Installment premium* number of premiums paid. Following are the riders which can be bought along with the plan.

a) Reliance Accidental Death and Permanent Total Disablement Rider.

b) Reliance Term Life Insurance Benefit Rider.

c) Reliance New Major Surgical Benefit Rider.

d) Reliance New Critical Conditions Rider.

e) Reliance Life Insurance Family Income Benefit Rider.

Loyalty additions benefit:-Starting from sixth year, loyalty additions will be given at the end of every third policy year. These additions will be added to the fund.

 

Reliance Life Insurance Smart pension Plan – Charges

There's no free lunch. The benefit that I have stated above comes at a cost. Below are the different charges which come along with the benefits in Reliance Life Insurance Smart pension Plan.

1.) Allocation Charges:- The Allocation charges are deducted from premiums.

Allocation charge on single premium plan is 2% of the premium paid.

2.) Policy Administration Charges: In case of regular plans – Rs 40 per month from 6th policy year, till the end of term. In case of single premium plans-

3.) Discontinuation charges: These charges has been standardised by IRDA in case of all ULIPs. To know more about discontinuation charges

4.) Mortality charges: These charges will vary depending on Life insurance cover, Age of the life assured, Occupation of the life assured, and Health of the life assured. You need to refer to the policy brochure to understand the mortality charges of Reliance Life insurance. But do understand that as in this policy life insurance coverage will increases with payment of every premium, so mortality charges are bound to increase.

6.) Service tax charges: This charge will be levied on all the charges mentioned above and will go into Government's kitty.

7.) Rider Premium Charges: The Premium under Rider benefit (if selected) will be collected over and above the premium under base plan.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFunds Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

Popular posts from this blog

How to Decide your asset allocation with Mutual Funds?

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) How to Decide your asset allocation ? The funds that base their equity allocation on market valuation have given stable returns in the past. Pick these if you are a buy-and-forget investor. Small investors are often victims of greed and fear. When markets are rising, greed makes the small investor increase his exposure to stocks. And when stocks crash to low levels, fear makes him redeem his investments. But there are a few funds that avoid this risk by continuously changing the asset mix of their portfolios. Their allocation to equity is not based on the fund manager's outlook for the market, but on its valuations. Our top pick is the Franklin Templeton Dynamic PE Ratio Fund, a fund of funds that divides its corpus between two schemes from the same fund house-the...
Read more

Mirae Asset Healthcare Fund

Best SIP Funds to Invest Online   Mirae Asset Global Investments (India) has launched Mirae Asset Healthcare Fund. The NFO of the fund will be open from June 11, 2018 to June 25, 2018. Mirae Asset Healthcare Fund is an open-ended equity scheme investing in healthcare and allied sectors. The scheme will invest in Indian equities and equity related securities of companies that are likely to benefit either directly or indirectly from healthcare and allied sectors. The investment strategy of this scheme aims to maintain a concentrated portfolio of 30-40 stocks. Healthcare is a broad secular theme that includes pharma, hospitals, diagnostics, insurance and other allied sectors. The fund will have the flexibility to invest across markets capitalization and style in selecting investment opportunities within this theme. Neelesh Surana and Vrijesh Kasera will manage this fund. In a press release, Swarup Mohanty, CEO, Mirae Asset Global Inves...
Read more

How to generate a UAN Online

Best SIP Funds Online   In order to make Employees' Provident Fund (EPF) accounts portable, the Employees' Provident Fund Organisation (EPFO) had launched the facility of Universal Account Number (UAN ) in 2014. Having a UAN is now mandatory if you have an EPF account and are contributing to it. So far, you got this number from your employer and every time you changed jobs, you had to furnish this number to the new employer.  However, in order to make it easier for you to get a UAN , and without your employer's intervention, the EPFO now allows you to go online and generate a UAN on your own. This facility can be used by freshers, or new employees, who are joining the workforce as well as by employees who have older EPF accounts but do not have a UAN as yet. As a new employee, you can simply generate a UAN and provide the number to your employer at the time of joining, when you need to fill up forms for your EPF contribution. As per a circula...
Read more

Reliance Regular Savings Fund - Debt Option

Reliance Regular Savings Fund - Invest Online     The scheme aims to generate optimal returns consistent with moderate levels of risk. It will invest atleast 65 per cent of its assets in debt instruments with maturity of more than 1 year and the rest in money market instruments (including cash or call money and reverse repo) and debentures with maturity of less than 1 year. The exposure in government securities will generally not exceed 50 percent of the assets. The fund uses a mix of relatively low portfolio duration with active investments in higher-yielding corporate bonds. It does not take aggressive duration calls but tries to improve returns by cherry-picking corporate bonds. This is reflected in the fund's returns matching the category and benchmark for five years - at 8.4 per cent - but lagging behind the category during a raging bull market in bonds in the last one year. The fund has been a consistent but not chart-topping performer in the income category. Despite its ...
Read more

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now