Reliance Nippon Life - Smart Savings Insurance Plan - Make In India Fund

* Auto-Managed Option: Manage your investment automatically. Under Auto-Managed
Option you can choose between: i) Target Maturity Option - Get a tailor-made solution through automatic asset allocation between equity and debt based on when you want to achieve your goal, ii) Life-Stage Option - Create a balance between equity and debt through a systematic asset allocation strategy based on your life-stage
2. High rewards
* Get the benefit of reduced charges on investing higher premium amount
* Get rewarded for choosing to pay for longer term through Loyalty Additions
* Enhance your Fund Value by staying invested for longer term through wealth boosters
3. Pay as you like: Customise your premium payment options - pay premiums for 5, 7, 10 years or the entire Policy Term.
4.Adequate protection: Safeguard your family, in the event of your unfortunate death, throughout the Policy Term with a life insurance cover of at least ten times the Annualised Premium.
5.Liquidity: Meet emergency fund requirements through partial withdrawals, anytime after five Policy Years.

PPT
PT
Regular Pay
10 and 15 to 30
Limited Pay: 10 Years
15 to 30
Limited Pay: 7 Years
10 and 15 to 25
Limited Pay: 5 Years
10 and 15 to 20 for age at entry between 1 to 45
10 and 15 for age at entry between 46 to 50

The available modes of premium payment are Yearly, Half-yearly, Quarterly and Monthly. Quarterly and Monthly modes are allowed only if the payment is made electronically. If the monthly mode is chosen at the time of issuance, first two months premium will be collected at the time of issuance of the Policy. Premium payment mode can be changed only on policy anniversaries.

In unfortunate event of death of the Life Assured, while the Policy is in-force and the funds are not in Discontinued Policy Fund, we will pay to the nominee the highest of Base Sum Assured or the Base Fund Value or 105% of the premiums paid.
In addition we will also pay the highest of all Top-up Sum Assured or Top-up Fund Value or 105% of the all total Top-up premiums paid.
Where Base Sum Assured is automatically determined as your Annualised Premium multiplied by
The higher of 10 or Policy Term divided by 2, for entry ages below 45 years
The higher of 10 or Policy Term divided by 4, for entry ages 45 years and above
And the Top-up Sum Assured is automatically determined as your Top-up Premium multiplied by
125% if the attained age is below 45 years; or
110% if the attained age is 45 years and above
On the death of the Life Assured while the funds are in Discontinued Policy Fund, the Death Benefit will be the Discontinued Policy Fund Value.

On survival of the Life Assured till the end of the Policy Term, total Fund Value, which is the sum of Base Fund Value and Top-up Fund Value, will be paid.

Premiums paid under Reliance Nippon Life Smart Savings Insurance Plan are eligible for tax exemptions, subject to the applicable tax laws and conditions. Income Tax benefits under this plan shall be applicable as per the prevailing Income Tax Laws and are subject to amendments from time to time. Kindly consult a tax expert.

The Goods and Service Tax will be charged as per the applicable rates declared by the Government from time to time.

There is a grace period of 30 days from the due date for payment of premium. In case of monthly mode, the grace period is of 15 days.

If you choose the Self-Managed Option then you can switch amongst the six funds anytime during the Policy Term, depending on your financial priorities and investment outlook. You are entitled for 52 free switches each Policy Year.
Any unused free switches cannot be carried forward to a following year.

Surrender Value is acquired immediately on payment of the Base Premium or Top-up premium.
During the first five Policy Years, on receipt of intimation that you wish to surrender the Policy, the Fund Value, including Top-up Fund Value, if any, after deduction of applicable Discontinuance Charge, shall be transferred to the Discontinued Policy Fund. The Policy proceeds from this will be payable to you on the date corresponding to your fifth policy anniversary. If the Life Assured dies before the payment of the surrender benefit, we will pay the Policy proceeds from Discontinued Policy Fund immediately and terminate the contract.
On surrender after completion of the fifth Policy Year, you will be entitled to the Fund Value including Top-up Fund Value, if any. Once a policy is surrendered in full, it cannot be reinstated.

Life Equity Fund 3
1.35%
Life Pure Equity Fund 2
1.35%
Make in India Fund
1.35%
Life Balanced Fund 1
1.25%
Life Corporate Bond Fund 1
1.25%
Life Money Market Fund 1
1.25%
Discontinued Policy Fund
0.50%

The Mortality Charges will vary depending on the amount of life insurance cover, attained age of Life Assured, occupation of the Life Assured, health of the Life Assured and the Fund Value.
The Mortality Charges will be deducted by cancellation of units at the prevailing NAV per unit (unit price) on a monthly th basis at the beginning of each policy month using 1/12 of the mortality rates.

You have the option to revive a discontinued policy within two consecutive years from the date of Discontinuance of the Policy, subject to payment of all due and unpaid premiums and our underwriting policy. At the time of revival:
Discontinuance Charge previously deducted will be added to the Discontinued Policy Fund Value.

Suicide Exclusion: In case of death due to suicide within 12 months from the date of commencement of risk or from the date of revival of the Policy, the nominee/claimant of the Policyholder shall be entitled to Fund Value, as on the date of death and we will not pay any insured benefit.
Any charges recovered subsequent to the date of death will be paid-back to nominee or beneficiary along with death benefit.