Reliance Whole Life Plan

Recommendations :No

Name of the policy :
Reliance Whole Life Plan

A brief desciption :

Reliance Whole Life Plan is a traditional whole life plan where premium needs to be paid till the end of premium paying term. On reaching the age of 85 years, the entire Sum Assured + accrued Bonus is paid but the insurance cover continues till the end of 99 years and bonus is also paid till then. However Insurance cover is required till the person is earning and is having dependants. Moreover in such plans the premiums are unaffordable and sum assured offered is way below a classic term plan. So whole life plans turn out to be worthless.

Started date :22/2/2002
Type of policy :Insurance cum investment
Category :Traditional- Endowment Whole Life Plan
Insurance :Min- 25,000 Max- No Limit
Returns expected :Less than Fixed Deposit
Entry age :20-60 Years
Surrender :Guaranteed Surrender Value = 30% of all premiums paid - 1st year's premium

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