Reliance Connect 2 Life Plan

Recommendations :No

Name of the policy :
Reliance Connect 2 Life Plan

A brief desciption :

Reliance Connect 2 Life Plan is a traditional endowment plan providing two variants, Gold Plan with an intial sum assured of 2 lakhs and Silver Plan with an initial sum assured of Rs 1 lakh. This plan has a unique option. At the end of the Policy Year 1, this plan offers to enhance his Life Coverage without any further underwriting by purchasing an additional Reliance Connect 2 Life Plan. However, the maximum amount of Life Coverage Enhancement that he can get at the end of Year 1 depends on the Policy Variant. However the enhancement of Sum Assured is backed by paying higher premiums, much higher than simple term plans moreover lack of transperency and loads of charges makes this plan unaffordable and worthless.

Started date :21/6/2006
Type of policy :Insurance cum investment
Category :Traditional- Endowment Plan
Insurance :Gold Plan Initial SA- 2 lakh Max- 10 lakhs Silver Plan- Initial SA- 1 lakh Max- 5 lakhs
Returns expected :Less than Fixed Deposit
Entry age :18-45 Years
Surrender :Guaranteed Surrender Value = 30% of all premiums paid -1st year's premium

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