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Key benefits
With Reliance Nippon Life Immediate Annuity Plan
1.Convert your earnings in to
regular income
2.Get regular
income (Annuity) for
your entire life
3.Leave behind a legacy for your family
4.Live life to the
fullest even after retirement
5.Receive tax
benefits
FLEXIBILITY• ChooseyourAnnuityfrom3differentannuitypayoutoptions
oLifeAnnuity oLifeAnnuitywithReturnof
purchaseprice oLifeAnnuityguaranteedfor5,10
or15yearsandpayableforlifethereafter
• SelectyourAnnuitypayoutfrequency-Monthly,Quarterly,Half-yearlyorAnnually
ONE TIME PAYMENTPaypremiumonlyonce.
WHOLE LIFE GUARANTEED
INCOMEGetguaranteedwholelife
income(Annuity).
EASE OF ENROLLMENT
Nomedicaltestsrequired.
TAX BENEFITSEnjoytaxbenefitsonthepremiumspaidandbenefitsreceived,asperapplicable
IncomeTaxLaws.
Reliance Nippon Life Immediate Annuity PlanAnon-linked,non-participating,AnnuityPlan
Worriedabouthowtoinvestyourhardearnedmoneypostretirement?
Convert your lump sum/corpus in to regular income for life. It’s likegiftingyourselfaregularincomeinthefuture.
RelianceNipponLifeImmediateAnnuityPlanhelpsyouearnaregularincomeforyourentirelife.ThisisaSinglePremiumplanwhereyoupayalumpsumpremiumamount,andoptforasuitableAnnuityOptionasperyourrequirements.BasedontheoptedAnnuityOptionandselectedpayoutfrequency,youstartreceivingregularAnnuityincome.
Who says I am retired, I gifted myself a salary for life.
Reliance Nippon Life Immediate Annuity PlanGetguaranteedincomeforyourwholelife*.
Over 1 Crore lives insured1 | Over 8,000 outlets2 | Top 3 Most Trusted Life Insurance Brand3 | 95.01% Claim Settlement Ratio4
reliancenipponlife.com
*Conditionsapply.
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How does the plan work?
Let’s take an exampleMr.Mohan, aged 60 years, opts forRelianceNippon Life ImmediateAnnuityPlanand,
SelectsAnnuityoption-LifeAnnuitywithreturnofpurchasepriceondeathandchoosestheAnnuitypayoutfrequency
Paysonetimepremiumof`5,00,000p.a.(excludingServiceTax)
Receivesguaranteedmonthly incomeof`2,371p.m. (i.e.,`28,455p.a.)
Enjoysregularmonthlyincomeforwholeoflife
AssumingthatMr.Mohandiesattheageof80years,thetotalincomehereceivestillhisdeathis`5.7lakh
HisnomineereceivesthePurchasePriceof`5lakh-(PremiumpaidexcludingServiceTax)aslumpsumdeathbenefit
Reliance Nippon Life Immediate Annuity Plan at a glance
Parameters Minimum Maximum
Age at Entry (Years) 20(lastbirthday) 80(lastbirthday)
Purchase Price `1,00,000/-(Excluding
ServiceTaxandEducationCess)
NoLimit
Annuity Installment `1,000 NoLimit
Annuity Payout Modes Monthly,Quarterly,Half-yearlyandAnnually
Benefits in detail
Income Benefit *FixedAnnuityamountswillbepaidonthesurvivalofthepolicyholderasspecifiedinthepolicyscheduleandbasedontheAnnuityoptionchosen.TheAnnuityoptiononcechosencannotbechanged.
Maturity Benefit InthisplannoMaturityBenefitispayable.
Death Benefit In the event that the policyholder has opted for plan option – LifeAnnuitywithReturnofPurchasePrice,ondeathofthepolicyholder,thePurchasePrice(premiumamountlessServiceTaxcharges)ispaidout to theNominee,No death benefit is payable for other Annuityoptions.
*Note: Change of Annuity option is not allowed once the Annuityoptionischosenbythepolicyholder.
Annuity payout options
Life Annuity
Annuityispaidthroughoutthelifeofthepolicyholder.Ondeathofthepolicyholder,policyisterminatedandnobenefitisgiventhereafter.
Life Annuity with return of Purchase Price Annuityispaidthroughoutthelifeofthepolicyholder.Ondeathofthepolicyholder, thePurchasePrice (premiumamount lessServiceTaxcharges)ispaidtotheNomineeofthepolicyholderandthepolicyisterminated.
Life Annuity guaranteed for 5, 10 or 15 years and payable for life thereafter Annuityispaidthepolicyholderforaguaranteedperiodof5,10or15years (aschosenbythepolicyholderat inceptionofthepolicy)andthereafterforlifeofthepolicyholder.
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Intheeventofdeathofthepolicyholderduringtheguaranteedperiod(of5,10or15years),AnnuityispaidtotheNomineetilltheguaranteedAnnuitypayoutperiod.Thereafter,thepolicyisterminated.
IncaseofdeathofthepolicyholderaftertheguaranteedAnnuitypayoutperiod,policyisterminatedandnobenefitsarepayablethereafter.
Premium Payment Mode OnlySinglePremiumpaymentmodeisallowedunderthisplan.
Annuity Payout Frequency Theannuitycanbepaid inYearly,Half-yearly,QuarterlyorMonthlyinstallments,subjecttoaminimumof`1,000/-perinstallmentforanyfrequency.
Annuity Rates TheAnnuityRatesmayberevisedfromtimetotime.Pleaseaskforthe latestAnnuityRatesat thetimeofpurchasingtheannuityplan.Oncetheannuityisbought,theratesremainguaranteedforlife.
Other features
Riders ThereisnoRideravailablewiththisplan.Theplanoffers
Surrender ThispolicycannotbesurrenderedandhasnoSurrenderValue.
Withdrawal/Partial Withdrawal Withdrawalsarenotallowedunderthisplan.
Terms and Conditions(T&C)
1. Loan Loanfacilityisnotavailableundertheplan.
2. Tax Benefit PremiumpaidunderRelianceNipponLife ImmediateAnnuityPlaniseligiblefortaxdeduction,subjecttotheapplicabletaxlawsandconditions. IncomeTax benefits under the IncomeTax Laws aresubjecttoamendmentsfromtimetotime.Kindlyconsultataxexpert.
3. Service Tax The ServiceTax and applicable cess will be charged as per theapplicableratesdeclaredbytheGovernmentfromtimetotime.TheServiceTaxonthebasepremiumswillbecollectedoverandabovethebasepremiums,alongwiththebasepremiums.
4. Taxes levied by the Government in future Infuture,theCompanymaydecidetopassonanyadditionaltaxesleviedbytheGovernmentoranystatutoryauthoritytothepolicyholder.Wheneverthecompanydecidestopassontheadditionaltaxestothe policyholder, themethod of collection of these taxes shall beinformedtoyou.
5. Suicide Exclusion IftheLifeAssured,whethersaneorinsane,commitssuicide: TheCompanywillpaythePurchasePriceifthepolicyholderoptsfortheAnnuityoption–“LifeAnnuitywithreturnofPurchasePrice”atthetimewhenannuityisbought.Inallotheroptions,nopaymentwillbemade.
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6. Free Look Period Intheevent,youdisagreewithanyofthetermsandconditionsofthispolicy,youmaycancelthispolicybyreturningthePolicyDocumenttotheCompanywithin15days(applicableforalldistributionchannelsexcept for Distance Marketing* channel, which will have 30 days)ofreceivingit,subjecttostatingyourobjections.TheCompanywillrefundthepremiumspaidbyyoulessadeductionoftheproportionateriskpremium for the time that theCompanyhasprovided you lifecoveruptothedateofcancellationandfortheexpensesincurredbytheCompanyandstampdutycharges.
*DistanceMarketing includeseveryactivityofsolicitation(includingleadgeneration)andsaleofinsuranceproductsthroughthefollowingmodes:
i. Voicemode,whichincludestelephone-calling
ii ShortMessagingServices(SMS)
iii.Electronicmode which includes e-mail, internet and interactivetelevision(DTH)
iv.Physicalmodewhichincludesdirectpostalmailandnewspaperandmagazineandinserts
v. Solicitation through anymeans of communication other than inperson
7. Nomination and Assignment Nomination,asdefinedunderSection39oftheInsuranceAct1938,will be allowed under this plan. Assignment is not allowed underthisplan.
8. Section 41 of the Insurance Act, 1938, as amended from time to time
(1)Nopersonshallalloworoffertoallow,eitherdirectlyorindirectly,asaninducementtoanypersontotakeorreneworcontinueaninsuranceinrespectofanykindofriskrelatingtolivesorpropertyinIndia,anyrebateofthewholeorpartofthecommissionpayableoranyrebateofthepremiumshownonthePolicy,norshallanypersontakingoutorrenewingorcontinuingaPolicyacceptany
rebate,exceptsuchrebateasmaybeallowedinaccordancewiththepublishedprospectusesortablesoftheinsurer.
(2)Anypersonmakingdefault incomplyingwith theprovisionsofthissectionshallbeliableforapenaltywhichmayextendtotenlakhrupees.
Mktg/IAPBrochure/V2/English/September2016.
CIN:U66010MH2001PLC167089.UINforRelianceNipponLifeImmediateAnnuityPlan:121N012V02
Beware of spurious phone calls and fictitious/fraudulent offers.IRDAIclarifiestopublicthat1.IRDAIoritsofficialsdonotinvolveinactivitieslikesaleofanykindofinsuranceorfinancialproductsnorinvestpremiums.2.IRDAIdoesnotannounceanybonus.Publicreceivingsuchphonecallsarerequestedtolodgeapolicecomplaintalongwithdetailsofphonecall,number.
Taxlawsaresubjecttochange,consultingataxexpertisadvisable.Thisproductbrochuregivesonlythesalientfeaturesoftheplananditisonlyindicativeofterms,conditions,warrantiesandexceptions.Thisbrochureshouldbereadinconjunctionwiththebenefitillustrationandpolicyexclusions.Forfurtherdetailsonalltheconditions,exclusionsrelatedtoRelianceNipponLifeImmediateAnnuityPlan,pleasecontactourinsuranceadvisors.TradelogodisplayedabovebelongstoAnilDhirubhaiAmbaniVenturesPrivateLimited&NipponLife InsuranceCompanyandusedbyRelianceNipponLife InsuranceCompanyLimitedunder license. 1Since inception. 2Includesagentofficesandpremiumcollectionoutlets. 3Votedasoneof the ‘MostTrustedBrands’intheLifeInsurancecategoryaccordingtoBrandEquity’sMostTrustedBrandsSurvey,2015.4Theclaimsettlementratioof95.01%fortheFY2015-16isarrivedatasapercentageofthetotalnumberofclaimssettledandtotalnumberofclaimdecisionedbytheCompanyduringtheyear.**VotedasoneofthetopcorporatebrandsaccordingtoTheEconomicTimesBestCorporateBrandsSurvey,2015.
Reliance Nippon Life Insurance Company Limited (formerly known as Reliance Life Insurance Company Limited) (IRDAIRegistrationNo.121)
Email usrnlife.customerservice@relianceada.com
Visit uswww.reliancenipponlife.com
Like us on Facebookwww.facebook.com/RelianceNipponLifeInsurance
Follow us on Twitter@relnipponlife
Corporate Office RelianceCentre,
OffWesternExpressHighway,SantacruzEast,Mumbai-400055.
Call us:(022)30338181(Localcallchargesapply)or180030008181(TollFree)between9amto6pmfromMondaytoSaturday
Fax No+912233035662
Registered Office HBlock,1stFloor,DhirubhaiAmbani
KnowledgeCity,NaviMumbai,Maharashtra-400710,India.
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