Yamaha File Cert.

ACKNOWLEDGEMENT
It was a great pleasure to present this report, which is the study of

“MARKETING AND HUMAN RESOURESE” the area of my study was
Muzaffarnagar.
Working on this project was a great challenge. I thanks this opportunity to

express my gratitude to all those who helped me in completion of my project
successfully.
I would like to express my sincere thanks to MR. DEVESH GUPTA (Head of

Department in BBA) of SHANTI DEVI JAIN COLLEGE SHAHPUR,
MUZAFFARNAGAR for their guidance and suggestions.
I would also like to express my sincere thanks to my external guides and project
head MR. KULDEEP CHAUHAN for their valuable contribution in the
successful completion of my project.
I would like to give thanks to all the respondents who gave their valuable time
in the recruitment of financial consultant or financial advisors, or, insurance
agent, providing valuable information and helped me in completing my project.
At last I would like to thank who have indirectly helped me for the same my
parents, friends, and member of RELIANCE LIFE INSURANCE OFFICE.
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DECLARATION
I hereby declare that the project report “MARKETING AND HUMAN

RESOURCE” submitted for Bachelor of Business Administration is my
original work and the project report has not formed the basis for award of any
degree, diploma, associate ship, or other similar titles.
SUMIT SAINI
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INTRODUCTION
Since the earliest time, human kind’s most earnest desire has been to leave something for
posterity. Be it learning or material possession, our memory lives in what we leave behind. It
is in this very need that there lies the origin of life insurance. After independence near about
209 Life Insurance companies were doing business worth Rs. 712.76 crore. The first Indian-
owned life insurance company, the Life Assurance Society, was set up in 1870 by six friends.
It insured Indian lives at the normal rates instead of charging a premium of 15 to 20 percent
as foreign insurers did. But today the concept has really changed. Today Life Insurance
protects the economic vale of a human life for the benefit of those who are financially
dependent on it. It has now started ensuring peace of mind and quality of life to million of
families.
LIFE INSURANCE IN INDIA
Life Insurance in its existing form came to India from the United Kingdom with the
establishment of a British firm Oriental Life Insurance Company in Calcutta in 1818
followed by Bombay Life Assurance Company in 1823. The Indian Life Assurance
Companies Act, 1912 was the first statutory measure to regulate life insurance business. Later
in 1928 the Indian Insurance Companies Act was enacted to enable the Government to collect
statistical information about both life and non-life insurance business transacted in India by
Indian and foreign insurers including provident insurance societies. In 1938 with a view to
protecting the interest of insuring public earlier legislation was consolidated and amended by
the Insurance Act 1938 with comprehensive provisions detailed and effective control over the
activities of insurers. The Act was amended in 1950 resulting in far reaching changes in the
insurance sector. These included a statutory requirement of equity capital for companies
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carrying on life insurance business, ceiling on share holdings in such companies, stricter
control on investments, and submission of periodical returns relating to investments and such
other information to the controller. The controller could also call for appointment of
administrators and put a ceiling on expenses of management and agency commission for
mismanaged companies. By 1956, 154 Indian insurers, 16 foreign insurers and 75 provident
societies were carrying on life insurance business in India. Life insurance business was
concentrated in urban areas and confined to the higher strata of the society. On January 19,
1956, the management of life insurance business of 245 Indian and foreign insurers and
provident societies then operating in India was taken over by the Central Government. Life
Insurance Corporation was formed in September 1956 by an Act of Parliament, viz. LIC Act
1956 with a capital contribution of Rs.50.
HISTORY OF INSURANCE IN INDIA
Insurance in India has been under public sector for over four decades. Life Insurance was
nationalized way back in 1956 by merging 245 private insurance companies thus forming
Life Insurance Corporation (LIC) of India. Similarly after nationalization of general
insurance in 1972, General Insurance Corporation (GIC) was formed by merging 106 private
insurance companies. General Insurance Corporation currently has four subsidiary companies
operating in India. When the insurance industry was nationalized, it was considered a
landmark and a milestone on the way to the socialistic pattern of society that India had
chosen after independence.
But now four decades after the Insurance sector was nationalized, the nationalized sector
companies could not cater to the Indian market to cover its entire potential. So the main
objectives of privatization are:-
1. To provide for proper back ups if there is any unforeseen economic shocks.
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2. To make sure there is a win-win situation for both the common man and the industry
players.
The other reasons for opening up the insurance sector to the private
insurers are as under:
1. To provide better Insurance coverage to Indian citizens.
2. To augment the flow of long-term financial resources to finance the growth of
Infrastructure.
3. The Public Sector Insurance Companies had not succeeded in extending the insurance
cover to all the needy people of the country due to various reasons. Hence this onerous
responsibility now has been entrusted to the private insurers.
4. Penetration of Insurance: LIC and GIC could not ensure very fast growth of insurance in
India even in a long period extending over four decades. Hence the penetration of insurance
is very low in India. The following indices as explained will indicate and support this
contention:
While per capita insurance premium in developed countries is very high, it is quite low in
India. For instance, per capita insurance premium in India in 1999 was only $8 while it was
$4800 for Japan, $1000 for Republic of Korea, $887 for Singapore, $823 for Hong Kong and
$144 for Malaysia.
Similarly the penetration of insurance is also assessed by the ratio of the insurance premium
to the Gross Domestic Product (GDP) in a country. While insurance premium as a percentage
of GDP was 14% for Japan, 13% for South Africa, 12% for Korea, 9% for UK and France, it
was only around 2% in India in 1999. Hence the penetration of insurance is low here.
The penetration of insurance is also assessed by a ratio of the insurance premium to the Gross
Domestic Savings (GDS). While the insurance premium as a percentage of GDS was 52% for
UK, 35% for other European and American countries, it was only 9% in India in 1999.
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Hence even this index indicates low level of penetration of insurance in India.
The share of India in the world market in terms of gross insurance premium is again very
small. For instance, while Japan has 31%, European Union 25%, South Africa 2.3%, and
Canada 1.7% share of the global insurance premium it is only 0.3% for India.
HISTORY OF DHIRUBHAI AMBANI
Few men in history have made as dramatic a contribution to their country’s economic
fortunes as did the founder of Reliance, Sh. Dhirubhai H Ambani. Fewer still have left behind
a legacy that is more enduring and timeless.
As with all great pioneers, there is more than one unique way of describing the true genius of
Dhirubhai: The corporate visionary, the unmatched strategist, the proud patriot, the leader of
men, the architect of India’s capital markets, and the champion of shareholder interest.
But the role Dhirubhai cherished most was perhaps that of India’s greatest wealth creator. In
one lifetime, he built, starting from the proverbial scratch, India’s largest private sector
enterprise.
When Dhirubhai embarked on his first business venture, he had a seed capital of barely US$
300 (around Rs 14,000). Over the next three and a half decades, he converted this fledgling
enterprise into an Rs 60,000 crore colossus—an achievement which earned Reliance a place
on the global Fortune 500 list, the first ever Indian private company to do so.
Dhirubhai is widely regarded as the father of India’s capital markets. In 1977, when Reliance
Textile Industries Limited first went public, the Indian stock market was a place patronized
by a small club of elite investors which dabbled in a handful of stocks.
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Undaunted, Dhirubhai managed to convince a large number of first-time retail investors to
participate in the unfolding Reliance story and put their hard-earned money in the Reliance
Textile IPO, promising them, in exchange for their trust, substantial return on their
investments. It was to be the start of one of great stories of mutual respect and reciprocal gain
in the Indian markets.
Under Dhirubhai’s extraordinary vision and leadership, Reliance scripted one of the greatest
growth stories in corporate history anywhere in the world, and went on to become India’s
largest private sector enterprise.
Through out this amazing journey, Dhirubhai always kept the interests of the ordinary
shareholder uppermost in mind, in the process making millionaires out of many of the initial
investors in the Reliance stock, and creating one of the world’s largest shareholder families.
MAJOR PLAYERS OF LIFE INSURANCE IN INDIA
1. Life Insurance Corporation of India

2. ICICI prudential Life Insurance
3. HDFC Standard Life Insurance
4. Max New York Life Insurance
5. Birla Sun Life Insurance
6. Om Kotak Mahindra Life Insurance
7. Reliance Life Insurance
8. Allianz Bajaj Life Insurance
9. Ing Vyasa Life Insurance
10. SBI Life Insurance
11. Metlife Insurance
12. Sahara Life Insurance
13. Aviva Life Insurance
14. TATA Aig life Insurance
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COMPANY PROFILE OF RELIANCE LIFE INSURANCE
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance -
Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s leading private sector
financial services companies, and ranks among the top 3 private sector financial services and
banking companies, in terms of net worth. Reliance Capital has interests in asset management
and mutual funds, stock broking, life and general insurance, proprietary investments, private
equity and other activities in financial services. Reliance Capital Limited (RCL) is a Non-
Banking Financial Company (NBFC) registered with the Reserve Bank of India under section
45-IA of the Reserve Bank of India Act, 1934.
Reliance Capital sees immense potential in the rapidly growing financial services sector in
India and aims to become a dominant player in this industry and offer fully integrated
financial services. Reliance Life Insurance is another step forward for Reliance Capital
Limited to offer need based Life Insurance solutions to individuals and Corporate.
Reliance Life Insurance is another step forward for reliance Capital Limited to offer
need based Life insurance solution to individuals and cop orates with its 55K core capital
Reliance started from scratch today, it is India’s largest private

sector company
HISTORY OF RELIANCE
 1956 Birth of reliance first textile mill at NARODA
 1971-72 Launch only VIMAL brand
 1997 First corporate in Asia issue 50 and 100 yrs Bond in US
 2000RELIANCE noncom plans announced
 2003 CONTROLLING STAKE IN BSES(REL) LARGEST MOBILE SERVICES

CO. IN INDIA
 2005 ADA ENTERPRISES FORMED FOLLOWING SPLIT IN RELIANCE GRP

AMP SANMAR ACQUIRED
 2006 Emerging of RELINCE LIFE INSURANCE
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RELIANCE IN OTHER AREAS
1. Mudra communications
2. Reliance noncom
3. Reliance energy
4. Ad labs
5. Reliance capital
6. NIS Sparta Ltd.
7. Reliance ADAG
Reliance Life Insurance Company Limited

Vision
To be the dominant new player in life insurance industry
This will be achieving through:
 Recruitment of quality advisors
 Intensive product training
 Selling skill training
 Superior technology & processes
 Innovative financial solution
Achievements so far
 Leading private life insurance company
 Strong brand recognition
 We cover life
 State –of –art support services
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ORGANIZATIONAL STRUCTURE
BRANCH DEVELOPMENT MANAGER
EXECUTIVE SALES MANAGER
SR. SALES MANAGER SR.SALES MANAGER
8 TO ASST. SALES MANAGER

IN EAH SR. SALES MANAGER
25 TO 35 ADVISORES IN EACH
ASST. SALES MANAGER
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This is the hierarchy, which Reliance Life insurance follows:-
Every Reliance life insurance branch has a Executive sales manager (EMS who supervises
the senior sales manager (SSM) working under him. The number of the senior sales manager
(SSM) may vary 3 to 5 in every branch. The ESM has the direct reporting to the branch
development manager (BSM) for each zone of India (North, South, West, and And East) there
are 4 distinct BSM.
Each senior sales manager further has 10 to 15 Asst managers (ASM) working under his
supervision. The job of these ASM’s to recruit advisors of various profile who have the
capability to give business to the company while the ASM has report to their respective SSM,
the ASM’s further have to give the performance feedback of their respective ASM’s team to
the ESM of the branch.
Each Asst. sales manager of the company has average 25 to 30 advisor various profiles
working under him and they together form, which is headed by that respective Asst. sales
manager. When any of the life advisor sell a policy i.e. he fetches business for the company,
he has to report his respective ASM.
Thus, each Asst. sales manger has track record of all the life advisors working under him and
the business they are fetching as well.
An advisor/agent does not have particular boss. There are no working hours and any
particular day on which the advisor has report in office.
An advisor can do his/her operations from any branch of the company located anywhere the
country.
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The rest 25% of the distribution in life insurance is not permanent. It is usually done through
1. Banker & brokers
2. Workshop
3. Small allied group
A target of selling of at least 12 policies in a year has been fixed by IRDA as the minimum
specification, which needs to be met each advisor of any insurance company
LIST OF KEY MANAGEMENT PERSONNEL
1) BRANCH DEVELOPMENT MANAGER Mr. ANURAG TYAGI

(NEW DELHI BRANCH)
2) EXCUTIVE SALES MANAGER Mr. ABHIROOP PANDAY

(ESM NEW DELHI)
3) SENIOUR SALES MANAGER Mr. AJAY TYAAGI

(NEW DELHI BRANCH)
4) ASST. SALES MANAGER Mr. SANDEEP MOUDGIL

(ASM OF NEW DELHI)
5) ASST. SALES MANAGER Mr. VINAY JAISWAL

(ASM OF NEW DELHI)
6) ASST. SALES MANAGER Mr. RAJIVE KAPOOR

(ASM OF NEW DELHI)
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EXECUTIVE SUMMARY
Insurance sector has always been volatile right from the very beginning. As private players
are entering into the Indian market, the competition has become very stiff. Today a lot of
companies are there is the market with their products. The common consumer is under
dilemma to decide to go for which company.
The Reliance Life Insurance is also one among these private players. The project with
Reliance Life Insurance deal with the market survey of Life Insurance Policy. In today’s
world, one can hardly find a person without a life insurance policy. The project helps to find
out that which company policy is most prevalent in the market and what was the reason of
purchase. It also helps to find out which is the most prevalent insurance plan in the market.
The project is also concerned about finding the awareness level of ING Vysya Life Insurance
is the market.
At last the project suggests some recommendation to the organization which is the outcome
of finding and analysis.
THE CHANGING SCENARIO
Prior to liberalization the regulatory environment was primarily based on consolidated
provisions of the Insurance Act 1938. The Controller of Insurance has wide ranging powers,
which included directing, cautioning, advising, prohibiting, inspecting, investigating,
searching, seizing, prosecuting, penalizing, authorizing, registering, amalgamating and
liquidating insurance companies. It was in 1956 that Life Insurance was nationalized
followed by General Insurance in 1972.
In the aftermath of nationalization much of the powers of the Controller of Insurance were
abridged for operational convenience of state owned LIC and GIC. Meanwhile great
developments were taking place around the world due to strong possibilities offered by
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insurance sector to the geopolitical and politico-economical systems in the new global order.
In 1993, a new committee was constituted. Review of insurance regulations started only with
the Malhotra Committee of reforms constituted in April 1993. Unlike Financial Sector
Reforms Committee who had the only choice of determining the phase of reforms to align
with the internationally accepted Basle provisions under the aegis of Bank of International
Settlement (BIS), Malhotra Committee had a real brainstorming at hand? Insurance order of
the world has no unique pattern. The committee recommendations were the prudence of that
day and a few of the suggestions were economically enticing for the regimented political
outfit of the country.
FOREIGN PARTICIPATION
Now that the gates have opened and foreign insurance companies are allowed to participate in
the Indian insurance market there are experiments and experiences of all hues. India has
adopted one of them based on its politico-economics dynamics. Indian market expects a
continuation of trend in companies to expand their horizons beyond domestic borders. This is
true both in terms of expansion plans by domestic companies and in the acquisition of
insurance companies by foreign concerns. Insurance investors from developed economies,
particularly in Western Europe and the US find some foreign markets as having greater
growth potential than their domestic markets. Therefore, a high level of interest exists for
these companies to acquire insurance concerns. IRDA has to recognize this global trend and
act prudentially for India. India is already moving up from the foothill of globalization in
insurance industry. Of course the initial expectation that IRDA will be inundated with
insurance license applications from the Joint Ventures (JV) formed by domestic and foreign
companies has not happened. A part of the phenomenon is explained by bad understanding of
the tenets of Joint Venture formation but major business sense may be lying in becoming a
more equipped second fast-mover. Whichever way the business moves from now on life in
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insurance industry can never be the same again in India. Subjective prudence of the lawmaker
and the regulator of the day mark the stipulated stake of only 26 percent of the equities by the
foreign partners in any insurance JV. The prudential perception may change with time and
persons. But for the present we have to live with the provisions. As the experience is well
dispersed in the contiguous geographical area, we cannot distinguish one set of prudence
from the other for the time being. Even the recently amended IRA Bill provides enough room
for foreign participation. Already a handful of entrants have taken place and more are
expected in the near future. A bunch of mergers are also in the queue.
In the Indian market one of the important issues that need to be immediately addressed to
enhance the speed of foreign participation is the role of intermediaries. In Western markets
there are many intermediaries like agents, brokers, consultants, surveyors, third party
administrators, etc. They form a crucial link between the insurance carrier and the final
customer. In India, insurance agency is the only recognized intermediary by the Insurance
Act, 1938. The agency system may work well in personal lines of business like Life
Insurance, Med claim, Personal accident, etc. There is a need for more specialized entities to
service commercial lines. Many banks are showing interest to take up corporate agency. But
regulations pertaining to corporate agency need to be made more liberal. There are
representations asking IRDA to review/modify certain sections, e.g., the mandatory 100 hour
training which all the directors of the corporate willing to take up agency, have to undergo.
Another issue is 26 percent cap on foreign equity participation.
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OBJECTIVES
The Research Report is consisting of following objectives:

1. To study the life insurance.
2. To know about Reliance life insurance.
3. To study the importance of insurance.
4. To study the different product of Reliance life insurance.
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Research methodology is a process of conducting the research; it is tell about
how we conducted the research. It gives the information about the data, sample,
sample size method of sampling and tool used for survey etc.
It is a systematic way, which consists of series of action steps, necessary to
effectively carry out research and the desired sequencing to these steps .the
research is a process of involves no. of inter-related activities, which overlap
and do rigidly follow a particular sequence.
Data collection
The information for the project of marketing on life insurance industry has been
collected from both primary as well as secondary sources.
Primary data
In case of primary sources the information was retrieved directly from the concerned people
and the authorities. We have conducted our research mainly with the help of the invaluable
inputs provided by the consumers of products of the private players in the form of a
questionnaire drafted by us. The questionnaire method was used as it is more versatile than
any other method and further a questionnaire is pre planned and thus less time is wasted since
a planned set of questions are available.
Secondary Data
Secondary data are information published by others (books & sites) and the companies they
were easily available and not much effort was required in obtaining the information.
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Sampling size
We have taken a sample size of 100 people. Our analysis is completely based on the
responses given to us by the respondents and the result for the same has been presented in the
form of pie charts and graphs. While there was some information, which could not be
obtained through questionnaires, for that purpose we resort to personal interviews. A total
total of
six In depth interviews were also taken of the agents and managers of these private players.
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THE PRODUCT MIX
Reliance cover customer at every step in life. Reliance Life Insurance lives up to its promise
to customers. Its wide range of policies cover the gamut of insurance product including:-
 Saving cum protection plans
 Pure protection plans
 Child plans
 Market plans
 Retirements solutions
In addition each every feature of the products equips the customer with the power of choice
in their hands. The various riders allow customization of policies.
THE PRODUCT LIFE
Reliance Cash Flow Plan
While most insurance plans block your money for a certain period of time, Reliance Cash
Flow Plan gives you the double benefit of life insurance along with easy liquidity through
lump sum cash. It provides money periodically when you need it.
It lets you live life to the fullest today and at the same time, helps you stay protected for
tomorrow by giving you the flexibility of receiving a specified percentage of the Sum
Assured at specified intervals.
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Key Features
 Easy Liquidity - Get periodic cash flows at the end of the fourth year and thereafter at
the end of every three years
 Wealth creation through bonus additions
 On maturity receive accumulated bonuses along with final lump sum payout
 More value for your money by way of High Sum Assured Rebate
 Full Sum Assured plus bonuses in case of your unfortunate death. This is over and
above the Survival Benefits already paid
 Option to add two riders – Critical Illness Rider and Accidental Death Benefit & Total
and Permanent Disablement Rider
How does this Plan work?
You pay premium every year for the entire term and get Survival Benefits at periodical
intervals as mentioned below. On death, your Beneficiary will get the full Sum Assured, plus
accumulated bonuses, over and above the Survival Benefits already paid to you.
Benefits
Survival Benefit: Get a percentage of the Sum Assured on the fourth anniversary and on
every third Policy Anniversary till maturity.
Maturity Benefit: On maturity you get the remaining percentage of the Sum Assured plus
accumulated bonuses.
Life Cover Benefit: In the unfortunate event of loss of life, your Beneficiary will receive the
full Sum Assured plus accumulated bonuses till that date.
Rider Benefit: You also have the option to add two additional benefits to customize the
Policy as per your needs:
a. Accidental Death Benefit & Total and Permanent Disablement Rider
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b. Critical Illness Ride
Accidental Death Benefit & Total and Permanent Disablement Rider Accidents are
unfortunate and sometimes fatal. You can customize your basic Policy with an Accidental
Death & Total and Permanent Disablement Benefit Rider.
The Accidental Death benefit is payable if death occurs directly as a result of an accident and
is intimated within 90 days of the occurrence. The Benefit payable is equal to the Rider Sum
Assured. The minimum Sum Assured is Rs 25,000 and the maximum under all Policies taken
together is Rs 50, 00,000.
The Total and Permanent Disablement Benefit is payable if the Life Assured becomes totally
and permanently disabled directly as a result of an accident. The Disablement Benefit is equal
to the basic Sum Assured paid in ten equal annual installments Total and Permanent
Disablement is defined as the total and irrecoverable loss of sight of both eyes, or loss by
severance of two limbs at or above wrist or ankle, or total and irrecoverable loss of the sight
of one eye and loss by severance of one limb at or above wrist or ankle for a period of at least
six months Inbuilt Waiver of Premium If the Life Assured becomes totally and permanently
disabled, then Reliance Life Insurance will waive all future premiums under the basic Policy
and riders up to a limit of Rs 40,000 p. a.
Accidental Death Benefit & Total and Permanent Disablement Rider

Age at entry 18 yrs 59 yrs
Age at expiry 25 yrs 64 yrs
Rs 50,00,000 (Basic Policy Sum
Sum assured Rs 25,000 Assured subject to a maximum of Rs
50,00,000 per life)
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Exclusions
The Company will not pay any Accidental Death Claim or Total and Permanent Disablement
Claims which results directly or indirectly from any one or more of the following:
 An act or attempted act of self-injury,
 Participation in any criminal or illegal act,
 Being under the influence of alcohol or drugs except under direction of a registered
medical practitioner,
 Racing or practicing racing of any kind other than on foot, flying or attempting to fly
in, or using or attempting to use, an aerial device of any description, other than as a
fare paying passenger on a recognized airline or charter service,
 Participating in any riot, strike or civil commotion, active military, naval, air force,
police or similar service,
 War, invasion, act of foreign enemies, hostilities or war like operations (whether war
be declared or not), civil war, mutiny, military rising, insurrection, rebellion, military
or usurped power or any act of terrorism or violence.
Critical Illness
Sudden onset of a major illness causes worries and heavy expenses. Our optional Critical
Conditions Cover helps provide financial relief in such cases. It pays you the Sum Assured
upfront in respect of ten major illnesses.
a. Cancer
b. Coronary Artery Bypass Surgery
c. Heart Attack
d. Stroke
e. Kidney Failure
f. Aorta Surgery
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g. Coma
h. Heart Valve Replacement
i. Major Organ Transplant
j. Paralysis
This Benefit can be availed only once against any one of the illnesses and the Company will
not pay the claim if it arises from deliberate self-injury or attempted suicide by the Life
Assured, whether sane or insane. This benefit will only be given, if the diseases are
confirmed by a Consultant Physician.
Critical Illness Rider

Rs 10,00,000
Sum assured Rs 1,00,000 (Basic Policy Sum Assured subject to
a maximum of Rs 10,00,000 per life)
Minimum Policy Term 5
Exclusion with Critical Illness
Cancer: Any CIN stage (cervical intraepithelial neoplasia); any pre-malignant tum our; any
non-invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers
including malignant melanoma stage IA (T1a N0 M0); any malignant tum our in the presence
of any Human Immunodeficiency Virus.
Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with elevation of
Troponin I or T; other acute Coronary Syndromes.
Stroke: Transient ischemic attacks (TIA); neurological symptoms due to migraine.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial procedures;
key-hole surgery.
Paralysis: Paralysis due to Guillain-Barré-Syndrome.
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Waiting and Survival Period
The Company will not pay the Critical Illness Benefit if:
 The critical illness begins prior to or within six months of the commencement date or
date of reinstatement of the Benefit - Waiting Period
 Death from critical illness takes place within 30 days of the onset of the same –
Survival Period
Flexibility
These riders may be attached to your Policy at the beginning or at any Policy Anniversary
during the term of the Contract, subject to underwriting conditions prevailing at that time.
Sum Assured for Critical Illness Rider may be increased or decreased by the Policyholder:
 The increase is subject to underwriting conditions
 Once decreased, further increases will not be allowed
The Contract can be terminated and opted for only once, by the Policyholder at any time.
Though above are general conditions of the rider, we may specify restrictions (like time of
exercise) on the above options. Such restrictions would be filed along with the based product
filing.
When & how much of Fixed Benefits paid?
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Money Back survival benefits paid per Rs.1,000 sum assured
Term on survival to the end of year
4 7 10 13 16 19 22 25 28 31 34
7 500 500
10 333 333 333
13 250 250 250 250
16 200 200 200 200 200
19 167 167 167 167 167 167
22 143 143 143 143 143 143 143
25 125 125 125 125 125 125 125 125
28 111 111 111 111 111 111 111 111 111
31 100 100 100 100 100 100 100 100 100 100
34 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9 90.9
Sample Illustration:
The tables show the indicative premiums for an individual Life Assured across different Sum
Assured for a Policy Term of 16, 25 and 31 years
Sum Assured: 1 Lakh Sum Assured: 3 Lakh Sum Assured: 5 Lakh
Age\Term 16 25 31 16 25 31 16 25 31
30 8580 5950 5045 25440 17550 14835 41900 28750 24225
35 8700 6140 5295 25800 18120 15585 42500 29700 25475
40 8905 6445 NA 26415 19035 NA 43525 31225 NA
45 9320 7010 NA 27660 20730 NA 45600 34050 NA
What is the Policy Term?
Minimum Policy Term: 7 years

Maximum Policy Term: 34 years
Who can buy this product?
Minimum age at entry: 15 years

Maximum age at entry: 63 years
Minimum age at maturity: 22 years
Maximum age at maturity: 70 years
What is the Sum Assured?
Minimum Sum Assured: Rs 25,000

Maximum Sum Assured: No Limit
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Savings and accumulation through bonuses
The Company will declare simple reversionary bonus which is payable at maturity or on
death, whichever is earlier.
More value for money – High Sum Assured Rebate Reliance Cash Flow Plan offers an
attractive premium discount for Sum Assured over and above 99,999 as mentioned below.
For example, as per the tabular premium rates, the annual premium for a 30 year old male for
a 25 year Policy for Rs 5 lakh Sum Assured comes to Rs 30,250 before the High Sum
Assured Rebate. After the High Sum Assured Rebate, the premium is Rs 28,750.
Sum Assured Range High Sum Assured Rebate

Rs 100,000 – Rs 249,000 Re 1 per 1,000 sum assured
Rs 250,000 – Rs 499,000 Rs 2 per 1,000 sum assured
Rs 500,000 – Rs 9,99,000 Rs 3 per 1,000 sum assured
Rs 10,00,000 and above Rs 4 per 1,000 sum assured
Can I take a loan against my Policy?
No loan is available under this Policy
What happens if I discontinue paying premium?
During the first three years, if premiums are not paid within the grace period the Policy will
lapse. After the first three years if premiums are not paid within the grace period the Policy
will be made paid up and the Sum Assured will be reduced,
 Firstly, in the proportion of completed duration to Original Policy Term and
 Secondly, by the amount of periodic lump sum payments already made.
Any accumulated bonuses attached to this Policy will remain attached in full. Once this
Policy becomes ‘paid-up’, no further bonuses are paid. You will receive the ‘paid-up’ Sum
31
Assured plus bonuses on the maturity date of the Policy or in the event of loss of life. Once
the Policy becomes paid-up no further Survival Benefits are paid.
What if I want to discontinue the Policy?
We provide you the option to surrender your Policy and receive the Surrender Value. If your
Policy has accumulated any bonuses, then you will also receive the cash value of that total
amount upon surrendering your Policy. Your plans acquire a Surrender Value after 3 years’
premium payment and after three years have elapsed from date of commencement of Policy.
We guarantee a minimum Surrender Value of 30% of the total premiums paid (excluding any
extra premiums and premiums for additional benefits) subsequent to the first year premium,
less the total of lump sum Survival Benefits already paid under this Policy.
On surrender, the insurance protection provided under the Policy will also cease.
Can I revive a Policy which is lapsed?
A lapsed Policy can be reinstated for full benefits anytime before the date of maturity at terms
and conditions required by the Company.
Flexible Premium Payment Modes
a. Yearly
32
b. Half-Yearly
c. Quarterly
d. Monthly (with salary deduction schemes only)
Grace period
There is a grace period of 30 days for payment of premium.
Tax Benefit
Premiums paid are eligible for tax deduction under Section 80C & 80D of the Income Tax
Act, 1961. Maturity & Death Benefit are tax free under Section 10(10) D of the Income Tax
Act, 1961. Under Section 80C, premiums upto Rs 100,000 are allowed as deduction from
your taxable income. Under Section 80 D premium upto Rs 10,000 (Rs 15,000 for senior
citizens) are allowed as deduction from your taxable income.
(80 D - Applicable to Critical Conditions Premium)
General Exclusions
We will not pay any claim on death if the life assured, whether sane or insane, commits
suicide within 12 months from the date of issue of this Policy or the date of any reinstatement
of this Policy.
15 Days Free Look Period:
The Policyholder may cancel this Policy by returning it to the Company within 15 days of
receiving it together with a letter requesting it be cancelled. The Company will refund the
premium paid by the Policyholder less a deduction:
 of the proportionate premium for the time cover has been provided till cancellation
 of expenses incurred by the Company for medical examination of the Life Assured,
Stamp Charges and expenses incurred in that connection.
33
Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states:
1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to
any person to take out or renew or continue an insurance in respect of any kind of risk
relating to lives or property in India, any rebate of the whole or part of the commission
payable or any rebate of the premium shown on the Policy, nor shall any person taking out or
renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in
accordance with the published prospectuses or tables of the insurer.
2) Any person making default in complying with the provisions of this section shall be
punishable with a fine which may extend to five hundred rupees.
Reliance Life Insurance is a fully licensed life assurance Company registered with Insurance
Regulatory & Development Authority (IRDA). Registration No: 121.
Reliance Child Plan
As a parent, it is only natural to dream of a smooth and blissful life for your child. Which is
exactly why you need to secure your child’s tomorrow, today?
Reliance Child Plan helps you save systematically so that you can give your child the much-
needed financial security in the future. Simply put, Reliance Child Plan gives you the
freedom to enjoy every moment with your child today, without worrying about his/her
tomorrow.
Key Features
Risk protection for you during the term of the Policy Accumulated bonus at the end of the
Policy Term 25% of Sum Assured payable every year as lump sum benefit during the last
four Policy anniversaries All future premiums are waived in the event of unfortunate loss of
life Guaranteed Fixed Benefits continue even after loss of life of the Policyholder. More
value for your money by way of High Sum Assured Rebate Choose to add the benefit of two
riders – Critical Illness Rider and Accidental Death Benefit & Accidental Death Benefit &
34
Total and Permanent Disablement Rider Policy participates in profit even after the loss of life
of the Life Assured.
You pay premium every year for the entire term and get guaranteed fixed benefits every year
during the last four years of the Policy Term. On death, your Beneficiary will get the Sum
Assured, guaranteed fixed benefits on specified dates and all future premiums will be waived.
All attached bonuses are payable at the end of the Policy Term and will remain attached to
your Policy even after payment of Life Cover Benefit.
Benefits
Life Cover Benefit: In the unfortunate event of loss of life, your Beneficiary will receive the
Sum Assured immediately and all future premiums will be waived.
Guaranteed Fixed Benefit: Get 25% of Sum Assured every year on the last four Policy
Anniversaries irrespective of the survival of the Life Assured.
For example if you have taken a Policy for Rs 1 lakh for 20 years, then fixed benefits payable
will be Rs 25,000 each at the end of 17th, 18th, 19th and 20th year.
Maturity Benefit: On maturity you get accumulated bonuses irrespective of the survival of the
Life Assured.
Rider Benefit: You also have the option to add two additional benefits to customize the policy
as per your needs.
Accidental Death Benefit & Total and Permanent Disablement Rider
35
Accidental Death Benefit & Total and Permanent Disablement Rider, Accidents are
Death Benefit & Total and Permanent Disablement Rider.
The Accidental Death Benefit is payable if death occurs directly as a result of an accident and
is intimated within 90 days of its occurrence.
The Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured is Rs
25,000 and the maximum under all Policies taken together is Rs 50, 00,000. The Total and
Permanent Disablement Benefit is payable if the Life Assured becomes totally and
permanently disabled directly as a result of an accident.
The Disability Benefit is equal to the basic Sum Assured paid in ten equal annual
installments. Total and Permanent Disablement is defined as the total and irrecoverable loss
of sight of both eyes, or loss by severance of two limbs at or above wrist or ankle, or total and
irrecoverable loss of the sight of one eye and loss by severance of one limb at or above wrist
or ankle for a period of at least six months.
Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then Reliance Life Insurance
will waive all future premiums under the basic Policy and riders up to a limit of Rs 40,000 p.
a.
Accidental Death & Disability Benefit
Sum Assured Rs 25,000 Rs 50, 00,000 (subject to a maximum of basic policy sum assured)
Exclusions
36
The Company will not pay any Accidental Death Claim or Total and Permanent Disablement
Claims, which results directly or indirectly from any one or more of the following:
An act or attempted act of self-injury, Participation in any criminal or illegal act, Being under
the influence of alcohol or drugs except under direction of a registered medical practitioner,
Racing or practicing racing of any kind other than on foot, Flying or attempting to fly in, or
using or attempting to use, an aerial device of any description, other than as a fare paying
passenger on a recognized airline or charter service, Participating in any riot, strike or civil
commotion, active military, naval, air force, police or similar service, or War, invasion, act of
foreign enemies, hostilities or war like operations (whether war be declared or not), civil war,
mutiny, military rising, insurrection, rebellion, military or usurped power or any act of
terrorism or violence.
Critical Illness
 Cancer
 Coronary Artery Bypass Surgery
 Heart Attack
 Stroke
 Kidney Failure
 Aorta Surgery
 Coma
 Heart Valve Replacement
 Major Organ Transplant
 Paralysis
37
Assured, whether sane or insane. This Benefit will only be given, if the diseases are
Critical Illness
Sum Assured Rs 1, 00,000 Rs 10, 00,000 (subject to a maximum of basic policy sum assured)
Minimum policy term 5
Cancer: any CIN stage (cervical intraepithelial neoplasia); any pre-malignant tumor; any non-
invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers
including malignant melanoma stage IA (T1a N0 M0); any malignant tumor in the presence
Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with elevation of
Troponin I or T; other acute Coronary Syndromes.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial procedures;
key-hole surgery.
date of reinstatement of the Benefit - Waiting Period.
38
Survival Period.
Flexibility
These riders maybe attached to your Policy at the beginning or at any Policy Anniversary
Sum assured for Critical Illness Rider may be increased or decreased by the Policyholder:
The increase is subject to underwriting conditions, once decreased, further increases will not
be allowed. The Contract can be terminated and opted for only once, by the Policyholder at
any time. Though above are general conditions of the rider, we may specify restrictions (like
time of exercise) on the above options. Such restrictions would be filed along with the based
product filing.
Sample Illustration
The tables below show the indicative premiums for an individual Life Assured across
different Sum Assured for a Policy Term of 15, 18 and 20 years.
Age\Term 15 18 20 15 18 20 15 18 20
30 7665 6230 5520 22695 18390 16260 37325 30150 26600
35 7830 6415 5720 23190 18945 16860 38150 31075 27600
40 8115 6720 6045 24045 19860 17835 39575 32600 29225
45 8655 7290 6630 25665 21570 19590 42275 35450 32150
Minimum Policy term: 5 years
39
Maximum Policy term: 20 years
Savings and accumulation through bonuses:
The Company will declare simple reversionary bonus which is payable at maturity (i.e. at the
end of the Policy Term).
More value for money – High Sum Assured Rebate
Reliance Child Plan offers an attractive premium discount for Sum Assured over and above
Rs 99,999 as mentioned below. For example, as per the tabular premium rates, the Annual
Premium for a 30 year old male for a 20 year Policy for Rs 5 lakh Sum Assured comes to Rs
28,100 before the High Sum Assured Rebate. After the High Sum Assured Rebate, the
premium is Rs 26,600.
Rs 100,000 – Rs 2, 49,000 Re 1 per 1,000 sums assured
Rs 250,000 – Rs 4, 99,000 Rs 2 per 1,000 sums assured
Rs 500,000 – Rs 9, 99,000 Rs 3 per 1,000 sum assured
Rs 10, 00,000 and above Rs 4 per 1,000 sum assured
Waiver of Premium Benefit
40
In the event of unfortunate loss of life, your child is completely protected. The Company
waives the entire future premium apart from paying the Sum Assured to the Beneficiary. In
additions all the fixed benefits are paid as and when due. Bonuses will remain attached to
your Policy and are payable at maturity.
Yes, you can take loan against your Policy. The Policy loan can be up to a maximum of 90%
of the Surrender Value of the Policy at the time of taking the loan based on the terms and
conditions at that time.
This facility is available after premium payment of 3 full years’ and after 3 years has elapsed
from date of commencement of the Policy. The interest will be charged on any outstanding
loan at a rate of interest set by us, from time to time.
lapse. After the first three years if premiums are not paid within the grace period the Policy
will be made paid up and the Sum Assured will be reduced, firstly, in the proportion of
completed duration to original policy term and secondly, by the amount of periodic lump sum
payments already made. Any accumulated bonuses attached to this Policy will remain
attached in full. Once this Policy becomes ‘paid-up’, no further bonuses are payable. You will
receive the ‘paid-up’ Sum Assured in the event of loss of life. Once the Policy becomes paid-
up any outstanding fixed benefits will be reduced to the paid up Sum Assured divided by the
number of outstanding fixed benefits. On maturity, the accumulated bonuses up to the date of
‘paid-up’ are paid.
41
We provide you the option to surrender your Policy and receive the Surrender Value. If your
amount upon surrendering your Policy.
Your plan acquires a Surrender Value after 3 years’ premium has been paid and after three
years have elapsed form date of commencement of Policy. We guarantee a minimum
Surrender Value of 30% of the total premiums paid (excluding any extra premiums and
premiums for additional benefits) subsequent to the first year premium, less the total of any
periodic lump sum fixed benefits already paid under this Policy.
On surrender, the insurance protection provided under the Policy will also cease.
Yearly
Half-yearly
Quarterly
Monthly (with salary deduction schemes only)
Grace Period
One month or 30 days from the due date for the payment of premiums
Tax Benefit
Act, 1961. Maturity & Death Benefit are tax free under Section 10(10) D of the Income Tax
Act, 1961. Under Section 80C, premiums upto Rs 100,000 are allowed as deduction from
your taxable income. Under Section 80 D premium upto Rs 10,000 (Rs 15,000 for senior
General Exclusions
42
We will not pay any claim on death if the Life assured, whether sane or insane, commits
of this Policy.
15 Days Free Look Period
 Of the proportionate premium for the time cover has been provided till cancellation
 Of expenses incurred by the Company for medical examination of the Life Assured,
Prohibition of Rebate: Section 41 of the Insurance Act, 1938 states:1) No person shall allow
or offer to allow, either directly or indirectly, as an inducement to any person to take out or
renew or continue an insurance in respect of any kind of risk relating to lives or property in
India, any rebate of the whole or part of the commission payable or any rebate of the
premium shown on the policy, nor shall any person taking out or renewing or continuing a
policy accept any rebate, except such rebate as may be allowed in accordance with the
published prospectuses or tables of the insurer. Any person making default in complying with
the provisions of this section shall be punishable with a fine which may extend to five
hundred rupees.
Reliance Life Insurance is a fully licensed life assurance company registered with Insurance
Reliance Term Plan
43
Life, as we know, is full of uncertainties. And to keep ahead of them, you need to plan ahead.
Reliance Term Plan is a pure life insurance plan that offers you comprehensive and affordable
coverage for a limited period of time to suit your needs.
Key Features
 Get higher insurance protection at economical rates
 Optional accidental & disability rider to enhance protection
 Economical way to protect your family against financial liabilities like loss of income
and outstanding loans etc.
 Discount on premium rates for women
 Suitable for business owners who want to cover the life of their key employees
You pay premium every year for the entire policy term. On death your Beneficiary will get
the Sum Assured. There is no Maturity Benefit under this plan.
Benefits
Life Cover Benefit: In the unfortunate event of loss of life, your beneficiary will receive
the Sum Assured.
Maturity Benefit: There is no Maturity Benefit payable under this Policy.
Rider Benefit: You also have the option to add Accidental Death Benefit and Total and
Permanent Disablement Rider.
Accidental Death Benefit & Total and Permanent Disablement Benefit Accidents are
Death Benefit & Total and Permanent Disablement Rider.
The Accidental Death Benefit is payable if death occurs directly as a result of an accident and
is intimated within 90 days of its occurrence.
44
The Benefit payable is equal to the Rider Sum Assured. The minimum Sum Assured is Rs
25,000 and the maximum under all Policies taken together is Rs 50, 00,000.
and permanently disabled directly as a result of an accident.
The Disability Benefit is equal to the basic Sum Assured paid in ten equal annual
installments. Total and permanent disablement is defined as the total and irrecoverable loss of
sight of both eyes, or loss by severance of two limbs at or above wrist or ankle, or total and
Inbuilt Waiver of Premium If the Life Assured becomes totally and permanently disabled,
then Reliance Life Insurance will waive all future premiums under the basic policy and riders
up to a limit of Rs 40,000 p. a.

Rs 50,00,000 (subject to a maximum of basic policy
Sum Assured Rs 25,000
sum assured)
Exclusions
Exclusion with Accidental Death & Total and Permanent Disablement Benefit Rider:
45
The Company will not pay any accidental death claim or total and permanent
disablement claims which results directly or indirectly from any one or more of the
following:
 Racing or practicing racing of any kind other than on foot,
 Flying or attempting to fly in, or using or attempting to use, an aerial device of any
description, other than as a fare paying passenger on a recognized airline or charter
service,
police or similar service, or
Flexibility
To the riders can be attached to your policy at the beginning or at any Policy Anniversary
Sample Illustration:
The tables below show the indicative premiums for a male Life Assured across different Sum
Assured and ages for policy term of 20, 25 and 30 years.
46
Age\Term
20 25 30 20 25 30 20 25 30
30 2600 3070 3640 3650 4355 5210 4700 5640 6780
35 3630 4380 5260 5195 6320 7640 6760 8260 10020
40 5400 6540 NA 7850 9560 NA 10300 12580 NA
45 8220 NA NA 12080 NA NA 15940 NA NA
Minimum Policy Term: 5 years

Maximum Policy Term: 30 years

Minimum Sum Assured: Rs 2,50,000

Minimum Premium: Rs 2,000 per installment
The Policy will lapse if the premiums are not paid within the grace period. The grace period
is one month but not less than 30 days.
However, you have the option to revive the Policy within three years from the date of lapse
subject to revival conditions.
The policy is not eligible for any Paid-up or Surrender Value.
a. Yearly
b. Half-yearly
c. Quarterly.
47
The Company will charge a Policy Fee, depending on the Premium Payment Mode selected
by you.
Advantage Women:
Women Policyholders have an advantage as they receive discount on premium paid. For the
basic Policy, basic premium payable will be equivalent to the premium for a three-year
younger male Policyholder.
Tax Benefit:
Premiums paid are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.
Death Benefit is tax free under Section 10 (10 D) of the Income Tax Act, 1961. Under Section
80C, premiums paid up to Rs 1, 00,000 are allowed as deduction from your taxable income.
General Exclusion
We will not pay any claim on death if the Life assured, whether sane or insane, commits
of this Policy.
15 Day Free Look Period:
The Policyholder may cancel this policy by returning it to the Company within 15 days of
48
payable or any rebate of the premium shown on the policy, nor shall any person taking out or
renewing or continuing a policy accept any rebate, except such rebate as may be allowed in
Reliance Life Insurance is a fully licensed life assurance company registered with Insurance
Reliance Whole Life Plan
You always loved your family. As a loving person you also wanted to be rest assured in the
knowledge that they will be happy, even if something were to happen to you. With Reliance
Whole Life Plan you can be sure that your family will receive that timely financial support
they need.
Key Features
 Insurance protection till age 85
 Choose to extend your insurance coverage till age 99
 Convenient Premium Payment Term Wealth creation through bonus additions
 More value for your money by way of High Sum Assured Rebate
 Get Sum Assured plus bonuses in case of your unfortunate death
49
 Option to add two riders – Critical Illness and Accidental Death Benefit & Total &
Permanent Disablement Rider
 Policy Loan available after three full years’ premium payment
You pay premium every year for the desired Premium Paying Term. You get Sum Assured
plus bonuses on reaching age 85. You choose to continue with the insurance cover uptil the
age of 99 and the Policy will continue to participate in profits till then. On death, your
Beneficiary will get the Sum Assured plus accumulated bonuses.
Benefits
Maturity Benefit: On attaining age 85 you get Sum Assured plus accumulated bonuses
Life Cover Benefit: In the unfortunate event of loss of life, your beneficiary will receive
the Sum Assured plus accumulated bonuses till that date.
Rider Benefit: You also have the option to add 2 additional benefits to customize the
Policy as per your needs.
a. Accidental Death Benefit & Total & Permanent Disablement Rider
b. Critical Illness Rider
Accidental Death Benefit & Total & Permanent Disablement Rider Accidents are unfortunate
and sometimes fatal. You can customize your basic Policy with an Accidental Death Benefit
& Total and Permanent Disablement Benefit Rider.
The Accidental Death benefit is payable if death occurs directly as a result of an accident and
is intimated within 90 days of the occurrence. The Benefit payable is equal to the Rider Sum
Assured. The minimum Sum Assured is Rs 25,000 and the maximum under all Policies taken
together is Rs 50, 00,000.
50
and permanently disabled directly as a result of an accident.
The Disablement Benefit is equal to the basic Sum Assured paid in ten equal annual
installments
Total and Permanent Disablement is defined as the total and irrecoverable loss of sight of
both eyes, or loss by severance of two limbs at or above wrist or ankle, or total and
Inbuilt Waiver of Premium
If the Life Assured becomes totally and permanently disabled, then Reliance Life Insurance
will waive all future premiums under the basic policy and riders up to a limit of Rs 40,000 p.
a.

Sum Assured Rs 25,000
sum assured)
Exclusions
To the Company will not pay any Accidental Death Claim or Total and Permanent
Disablement Claims which results directly or indirectly from any one or more of the
following:
51
 Racing or practicing racing of any kind other than on foot,
service,
police or similar service, or
a. Cancer
b. Coronary Artery Bypass Surgery
c. Heart Attack
d. Stroke
e. Kidney Failure
f. Aorta Surgery
g. Coma
h. Heart Valve Replacement
i. Major Organ Transplant
j. Paralysis
52
Assured, whether sane or insane. This Benefit will only be given, if the diseases are
Critical Illness
Sum Assured Rs 1,00,000
sum assured)
Minimum policy
5
term
Cancer: any CIN stage (cervical intraepithelial neoplasia); any pre-malignant tumour; any
non-invasive cancer (cancer in situ); prostate cancer stage 1 (T1a, 1b, 1c); all skin cancers
including malignant melanoma stage IA (T1a N0 M0); any malignant tumour in the presence
Heart Attack: Non-ST-segment elevation myocardial infarction (NSTEMI) with elevation
of Troponin I or T; other acute Coronary Syndromes.
Coronary Artery (Bypass) Surgery: Angioplasty and/or any other intra-arterial
procedures; key-hole surgery.
date of reinstatement of the Benefit - Waiting Period
Survival Period
53
Flexibility
These riders may be attached to your Policy at the beginning or at any Policy Anniversary
Sum assured for Critical Illness Rider may be increased or decreased by the Policyholder:
 The increase is subject to underwriting conditions
 Once decreased, further increases will not be allowed
The Contract can be terminated and opted for only once, by the Policyholder at any time.
Though above are general conditions of the rider, we may specify restrictions (like time of
exercise) on the above options. Such restrictions would be filed along with the based product
filing.
Sample Illustrations
The tables below show the indicative premiums for an individual life assured across different
sum assured for a premium paying term of 20, 30 and 40 years

Age\Term
20 30 40 20 30 40 20 30 40
30 3300 2720 2490 9600 7860 7170 15500 12600 11450
35 3735 3105 NA 10905 9015 NA 17675 14525 NA
40 4250 3580 NA 12450 10440 NA 20250 16900 NA
45 4920 NA NA 14460 NA NA 23600 NA NA
54
Indicative Maturity Benefit:
The table below shows the Indicative Maturity Benefits for different Sum Assured levels for
individual life at age 85 for ages 30, 35 and 40 years.
Maturity Benefit @ 6%* Maturity Benefit @ 10%*

Sum Assured\Ages
30 35 40 30 35 40
100000 320000 300000 280000 375000 350000 325000
300000 960000 900000 840000 1125000 1050000 975000
500000 1600000 1500000 1400000 1875000 1750000 1625000
* The above Maturity Benefits are calculated for an illustrative gross investment return of 6%
& 10% per annum as specified by IRDA.
Minimum Premium Paying

5 years
Term:
Maximum Premium Paying
40 years
Term:


Savings and accumulation through bonuses:
The Company will declare simple reversionary bonus and is payable at maturity or on death,
whichever is earlier.
More value for money – High Sum Assured Rebate Reliance Whole Life Plan offers an
attractive premium discount for Sum Assured over and above 99,999 as mentioned below.
55
For example, as per the tabular premium rates, the annual premium for a 30 year old male for
a 30 year premium paying term for Rs 5 lakh Sum Assured comes to Rs 14,100 before the
High Sum Assured Rebate. After the High Sum Assured Rebate, the premium is Rs 12,600.

Rs 100,000 – Rs 249,000 Re 1 per 1,000 sum assured
Rs 250,000 – Rs 499,000 Rs 2 per 1,000 sum assured
Rs 500,000 – Rs 9,99,000 Rs 3 per 1,000 sum assured
Rs 10,00,000 and above Rs 4 per 1,000 sum assured
Yes, you can take loan against your Policy. The Policy Loan can be up to a maximum of 90%
of the Surrender Value of the Policy at the time of taking the loan based on the terms and
conditions at that time.
These facilities are available after 3 full years’ premium payment and after 3 years have
elapsed from date of commencement of the Policy. The interest will be charged on any
outstanding loan at a rate of interest set by us, from time to time.
lapse. If you discontinue paying premium after paying premium for three full years’, then
your Policy will be converted in to a Paid up for a reduced Sum Assured determined in the
same proportion as the amount of premiums actually paid bears to the total amount of
premiums payable. The life insurance protection will continue to the extent of the Paid-up
value until the end of the Policy Term. Any accumulated bonuses attached to this policy will
remain attached in full. Once this Policy becomes ‘Paid-up’ no further bonuses will be
56
attached to the Policy. You will receive the ‘Paid-up’ Sum Assured plus bonuses on the
maturity date of the Policy or in the event of loss of life.
Grace Period:
One month or 30 days from the due date for the payment of premium.
We provide you the option to surrender your Policy and receive the surrender value. If your
amount upon surrendering your Policy. Your plan acquires a Surrender Value after 3 years’
premium has been paid. We guarantee a minimum Surrender Value of 30% of the Total
Premiums Paid (excluding any extra premiums and premiums for additional benefits)
subsequent to the first year premium. On surrender, the insurance protection provided under
the Policy will also cease.
Can I revive a Policy which is lapsed?
A lapsed Policy can be revived / reinstated for full benefits anytime before the date of
maturity at terms and conditions required by the Company.
a. Yearly
b. Half-yearly
c. Quarterly
d. Monthly (with salary deduction schemes only)
For Regular Premium Mode the grace period is 30 days
57
Tax Benefit:
Act, 1961. Maturity & Death benefit are tax free under Section 10(10 D) of the Income Tax
Act, 1961. Under Section 80C premiums upto Rs 1,00,000 are allowed as deduction from
your taxable income. Under Section 80D premium upto Rs 10,000 (Rs 15,000 for senior
General Exclusion:
We will not pay any claim on death if the Life Assured, whether sane or insane, commits
suicide within 12 months from the date of issue of this policy or the date of any reinstatement
of this Policy.
15 Days Free Look Period:
58
payable or any rebate of the premium shown on the policy, nor shall any person taking out or
renewing or continuing a policy accept any rebate, except such rebate as may be allowed in
Reliance Life Insurance is a Fully Licensed Life Assurance Company registered with
Insurance Regulatory & Development Authority (IRDA). Registration No: 121.
Reliance Market Return plan
You have always aspired for the best in life. And we help you achieve just that.
With Reliance Market Return plan you can have the twin advantage of insurance protection
as well as reaping the benefits of investment growth. It is a flexible plan which works all
through your life and meets the changing requirements like additional protection, liquidity
through cash, option to invest in different asset class, steady golden years and many more.
Key Features – Reliance Market Return Plan:
 Twin benefit of market linked return and insurance protection
 A Unit Linked Plan, different form traditional Life Insurance products, with
maximum maturity age of 80 years
 Option to create your own portfolio depending on your risk appetite
 Choose from 4 different investment funds
 Flexibility to switch between funds
 Option to pay regular as well as single premium & Top-ups
 Option to package with Accidental riders
 Flexibility to increase the Sum Assured
59
 Liquidity through partial withdrawals
The premium made net of Premium Allocation Charges by you is invested in fund/funds of
your choice and units are allocated depending on the price of units for the fund/funds.
The value of your Unit Account is the total value of units that you hold in the fund/funds. The
Mortality Charges and Policy Administration Charges are deducted through cancellation of
units whereas the Fund Management Charge is priced in the unit value.
Benefits
Life Cover Benefit: You can choose the basic Sum Assured within the minimum and
maximum levels mentioned below
Minimum Sum Assured:
 Regular Premium: Annualized Premium for 5 years or for half the Policy term
 Single Premium: 125% of the single premium
Maximum Sum Assured: No Limit (Rs 500,000 for age up to 12 years)
In case of unfortunate loss of life, your Beneficiary will get sum Assured or Unit Account
Value whichever is higher.
Maturity Benefit: On survival, at maturity the value of your Unit Account will be paid
out.
Rider Benefit: You can add the Accidental Death & Accidental Total and Permanent
Disablement Benefit Rider (available only with regular premium option).
60
This benefit doubles the life coverage in case of accidental death or accidental total and
permanent disablement at a very nominal additional cost. The maximum cover is Rs.
50,00,000 per life.
In case of accidental total and permanent disablement, 1/10th of the Sum Assured will be paid
at the end of each year for ten years. If the total and permanent disablement has commenced,
the Accidental Death Benefit Cover ceases.
In case of maturity or on death of the Assured, after payment of installments of Accidental
Total and Permanent Disablement Benefit, the remaining unpaid installments if any will be
paid in one lump sum.
Accidental total and permanent disablement means disability caused by bodily injury, which
causes permanent inability to perform any occupation or to engage in any activities for
remuneration or profits. This disability should last for at least 6 months before being eligible
for Accidental Total and Permanent Disablement Benefits.
Total and permanent disablement includes loss of both arms or both legs or one arm and one
leg or of both eyes. Loss of arms or legs means dismemberment by amputation of the entire
hand or foot. Loss of eyes means entire and irrecoverable loss of sight.
Exclusions to Rider Benefit
Reliance Life Insurance will not be liable to pay any Accidental Death Benefit Claim or Total
and Permanent Disablement Claim which results directly or indirectly from any one or more
of the following:
 An act or attempted act of self – injury
 Participation in any criminal or illegal acts
 Being under the influence of alcohol or drugs
 Racing or practicing racing of any kind other than on foot
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service.
 Participating in any riot, strike or civil commotion, active military service, naval
airforce, police or similar services or
or usurped power or any act of terrorism.
What are the different fund options?
Reliance Life Insurance understands the value of your hard earned money and in our
endeavour to help you grow your wealth, we offer you 4 different tailor-made investment
funds. You have the option to allocate your premium in these funds as you wish.
The four different funds offered are
1. Capital Secure Fund: The investment objective of this fund is to maintain the value of
all contributions (net of charges) and all interest additions. This Fund offers steady return for
very little risk. The risk profile of this fund is low. Your funds are invested 100% in Bank
Deposits, Government Bonds and debt instruments that offer financial security.
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Further, allocation in Capital Secure Funds for a policy is a subject to a maximum limit
of 20% at any time.
2. Balanced Fund: The investment objective of this Fund is to provide you with
investment returns which exceed the rate of inflation in the long term while maintaining a
low probability of negative investment returns. In this fund, a major portion of your funds are
invested in fixed securities while a small percentage is invested in the equity market, which is
exposed to market movements. The risk profile of this fund is low to medium.
Investment would be at least 80% in fixed interest securities and maximum 20% in equities.
3. Growth Fund: The investment objective of this Fund is to provide you with investment
returns which exceed the rate of inflation in the long term while maintaining a moderate
probability of negative investment returns. This fund offers a greater portion of your funds
are invested in fixed securities while a small percentage is invested in the equity market,
which is exposed to market movements. The risk profile of this fund is medium to high.
Investment would be at least 60% in fixed interest securities and maximum 40% in equities.
4. Equity Fund: The investment objective of this fund is to provide Policyholders with
high exposure to equities and the possibility of investment returns which generate a high real
rate of return in the long term while recognizing that there is a significant probability of
negative investment returns in the short term. This fund offers a totally equity based
investment option. Your returns depend entirely upon the performance of the equity market.
The risk profile of this fund is high. The higher risk of this portfolio means that expected
returns would also be higher. Investments would not exceed 30% in Bank Deposits and may
be 100% in equities.
Value of Units: The unit price of each Fund will be the unit value calculated on a daily
basis.
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Total Market Value of assets plus/less expenses incurred in the
purchase/sale of assets plus Current Assets plus any accrued income
net of fund management charges less Current Liabilities less Provision
Unit Price =
Total Number of units on issue (before any new units are
allocated/redeemed)
Flexibility
Pay top-ups
If you have received a bonus or some lump sum money you can use that as a top-up to
increase the investments component in your Policy. Top-ups are allowed only if all premiums
due till date are paid.
There is no restriction on the maximum amount of top-ups. However top-ups made over and
above 25% of the basic regular premium paid till date will lead to an increase in Sum Assured
to the extent of 125% of the excess top up premiums. The minimum top-up amount is Rs.
2,500. 98% of any amount paid as top-up is allocated to your funds.
Make partial withdrawals
After three years,
 If your Unit Account Value is less than the Sum Assured, then the maximum partial
withdrawal can be Rs 5,000 per partial withdrawal.
 If your Unit Account Value is more than the Sum Assured, then the maximum partial
withdrawal is the difference between the Unit Account Value and the Sum Assured
plus Rs 5000.
 Higher amounts of partial withdrawals are allowed subject to underwriting.
 Two partial withdrawals are allowed every year. Minimum Fund Value after each
partial withdrawal should be Rs 10,000.
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 For the purpose of partial withdrawals, top-ups would have a lock-in of three years
from the date the top-ups are made until then no partial withdrawals are allowed. This
condition is not applicable if the top-ups premiums are paid during the last three years
of the Policy term.
 Where the Life Assured is minor, - partial withdrawals are allowed on or after
attainment of age 18 years or after 3 years if later.
Increase the Sum Assured
You are free to increase the Sum Assured. Once Sum Assured is increased it remains for the
entire outstanding Policy term.
Increase in Sum Assured is subject to underwriting.
Control your investments
You have full control on your investments. Depending upon the performance of your funds
you can switch between funds. There will be one free switch in a Policy year.
Redirect future premiums
Redirection is retaining the units you have already invested and purchasing units using
subsequent premium payments in an alternative proportion of your choice. The units you
have already purchased with your premiums remain as they are while you redirect your future
premium payments to other funds of your choice. (applicable for regular premium payment
option only)
Settlement Options
This option enables you to take the maturity proceeds in the form of periodical payments
after the maturity date instead of a lump sum on the maturity date. You can choose to redeem
the units in his/her Unit Fund anytime up to 5 years from the date of maturity.
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Minimum Age at entry 30 days

Maximum Age at entry 65 years
Maximum Age at maturity 80 years
What is the Policy term?
Minimum Policy term 5 years

Maximum Policy term 40 years

You have a choice of five premium payment modes
Annual Rs. 10,000
Half-yearly Rs. 5,000
Quarterly Rs. 2,500
Monthly Rs. 1,000
Single premium Minimum Premium is Rs. 25,000
You may surrender a Policy at any time after three year from commencement. The
Surrender Values are detailed below:
Regular Premium Policies
Surrender Value as percentage of Unit

No of Years premiums paid
Account Value
Less than 1 0%
1 50%
2 80%
3 and more 100%
Single premium Policies
Under single premium policies, Surrender Value is 100% of Unit Account.
66
Charges Under the plan:
1. Premium Allocation Charge
For regular premium policies:
Term of the Policy

Year 5-9 10-14 15+
First Year 10% 15% 20%
Thereafter 5% 5% 5%
The Premium Allocation Charge for single premium & top-ups is 2%.
2. Policy Administration Charge: Rs 40 will be deducted from your Unit Account each
month.
3. Fund Management Charge:
Unit Linked Funds Annual Rate*

Capital Secure 1.50%
Balanced 1.50%
Growth 1.75%
Equity 1.75%
*The Fund Management Charges will be deducted on a daily basis.
4. Revision of Charges: The Fund Management Charges are subject to revision at any
time, but they will not exceed 2% p.a. for the Capital Secure Fund and 2.5% p.a. for the other
funds.
5. Partial Withdrawal Charges: Rs 100 per withdrawal will be deducted from your
Unit Account.
6. Switching Charge: 1% of the amount switched, with a maximum of Rs.1, 000/-.
67
7. Mortality Charge: The Mortality Charges, based on your attained age, are determined
using 1/12th of the charges mentioned in Appendix 1 and are deducted from the Unit Account
monthly.
8. Surrender charge: This charge is levied on the Unit Fund at the time of surrender of
the Policy as under:
Regular Premium
Surrender Charge as percentage of

Years’ premiums paid
Unit Account Value
Less than 1 100%
1 50%
2 20%
3 and more NIL
Single Premium - NIL
Any changes made to the charges under this Policy will be subject to IRDA approval
How safe is your investment?
 The investments made in the Unit Funds are subject to investment risks associated
with Capital Markets and the NAVs of the units may go up or down based on the
performance of the fund and the factors influencing the Capital Market, and the
insured is responsible for his / her decisions.
 The Unit Price is a reflection of the financial and equity/debt market conditions and
can increase or decrease at any time due to this.
 Benefit payable under the Policy will be made according to the tax laws and other
regulations in force at that time.
 There are no guarantees for any fund of any kind under this Policy. The benefit
payable on maturity will be equal to the value of your units.
68
 The name in the funds in no way indicates the returns derived from them.
What happens if I discontinue paying regular premiums?
Within 3 years of the inception of the Policy:
If premiums have not been paid for at least three consecutive years the insurance cover will
cease immediately. However, you will continue to participate in the performance of Unit
Funds chosen by you.. The monthly Policy Administration Charges will be deducted from
your account by cancellation of units.
You may revive the Policy by re-commencing the premium payment within a period of three
years from the date of first unpaid premium or before the maturity date of the Policy
whichever is earlier. In case the Contract is not revived during revival period, the Contract
shall be terminated and the surrender value, if any, shall be paid at the end of third Policy
Anniversary or at the end of the period allowed for revival whichever is later.
After paying of at least 3 full years’ premiums:
If premiums have been paid for at least three consecutive years and subsequent premiums are
unpaid, the Policy will remains in force with Sum Assured intact. The Mortality and Policy
Administration Charges will be deducted from your account by cancellation of units. You will
continue to participate in the performance of the Unit Funds chosen by you.
years from the date of first unpaid premium or before the maturity date of the Policy
whichever is earlier. At the end of the allowed period for revival, if the Policy is not revived,
the Policy shall be terminated by paying the surrender value.
However, you may opt to continue the Policy even beyond the revival period (but not beyond
the maturity date of the Policy). The mortality and administration charges will be deducted
69
from your account by canceling the units. You will continue to participate in the performance
of the Unit Funds chosen by you. This option will be available until the Fund Value does not
fall below an amount equivalent to one full year’s premium.
If at any point of time, the Fund Value reaches an amount equivalent to one full year’s
premium, the Policy shall be terminated by paying the Fund Value.
Tax Benefit
Premiums paid are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.
Provided the premium in any years during the term of the Policy does not exceed 20% of the
Sum Assured, maturity and withdrawals are eligible for tax benefit under Section 10(10D).
Death benefit are tax free under Section 10(10) D of the Income Tax Act, 1961. Under
Section 80C premiums up to Rs 100,000 are allowed as deduction from your taxable income.
General Exclusion
If the Life Assured, whether sane or insane, commits suicide within 12 months from the date
of issue of this Policy or the date of any revival of a Policy, the Company will limit the death
benefit to the value of the Unit Account and will not pay any insured benefit.
15 day free look period
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Please note that Reliance Life Insurance Company Limited is only the name of the insurance
Company and Reliance Market Return Plan is only the name of the unit linked life insurance
Policy and does not in anyway indicate the quality of the Policy or its future prospects or
returns.
Reliance Golden Years Plan
Retirement means different things to different people, while some want to relax and take a
trip around the world, some want to start up a venture of their own, and pursue a dream
harnessed for years.
The power to make your autumn years special lies only with you. The Reliance Golden Years
Plan gives you the power and the right kind of solution - A retirement plan that allows you to
save systematically and generate the much-needed corpus to make your olden years look
golden.
Under this plan the investment risk in the investment portfolio is borne by the
policyholder.
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Key Features
 Invest systematically and secure your golden years
 A flexible unit-linked pension product that is different from traditional life insurance
products with Vesting Age between 45 and 70 years
 Four different investment funds to choose from
 Flexibility to switch between funds
 Option to pay Regular, Single as well as Top-up Premiums
 Flexibility to advance/extend your Vesting Age
 Tax free commutation up to one third of Fund Value at Vesting Age
How does Reliance Golden Years Plan work?
The plan works in two parts – the Accumulation Period (i.e. the Policy Term) and the
Distribution Period. The Accumulation period is the time when you build up your funds
through premiums payment.
On your chosen Vesting Date, the Accumulation Period ends and the distribution period
begins. You are free to choose your age of Retirement (Vesting Date) between 45 and 70
years. After the Vesting Date, the Annuity Payments begin.
On your Vesting Date, you have the following Annuity Options to choose from
1. Life Annuity
2. Life Annuity with return of purchase price on death. Purchase Price is the amount of
Fund Value used to purchase an annuity.
3. Life Annuity Guaranteed for 5, 10 or 15 years and payable for life thereafter
These options are currently available with Reliance Life Insurance Company Ltd. We may
offer more annuity options in future.
What are the benefits available with Reliance Golden Years Plan?
72
At Vesting:
1. On vesting, you can purchase annuity plan for the full Fund Value
2. You may commute up to one third of Fund Value as tax free lump sum and the
balance can be used for the purchase of annuity
3. Open Market Option: you can purchase an annuity either from Reliance Life
Insurance Company Limited or from any other registered life insurance company.
At Death: In the unfortunate event of your death during the Policy term, the Beneficiary will
get the Fund Value. This amount can be taken as a lump sum or an annuity can be purchased
for the entire lump sum or portion of it. The Beneficiary will have the option to purchase an
annuity either from Reliance Life Insurance Company Limited or from any other registered
life insurance company.
What are the different fund options?
Reliance Life Insurance Company Limited understands the value of your hard earned money.
In order to make your money grow we offer four different investment funds. You also have
the option to allocate your premium in different funds in the manner you wish.
The four different funds offered are
1. Capital Secure Fund: The Investment Objective of this fund is to maintain the value of all
contributions (net of charges) and all interest additions. This fund offers steady return for
very little risk. The risk profile for this plan is low. Your funds are invested 100% in Bank
Deposits, Government Bonds and Debt Instruments less than 180 days duration.
You may invest a maximum of 20% of the total premiums in the Capital Secure Fund.
2. Balanced Fund: The Investment Objective of this fund is to provide you with investment
returns which exceed the rate of inflation in the long term while maintaining a low
probability of negative investment returns. In this fund, a major portion of your funds are
invested in Fixed Interest Securities while a small percentage is invested in the Equity
73
Market, which is exposed to market movements. The risk profile of this fund is low to
medium.
Investment would be at least 80% in Fixed Interest Securities and maximum 20% in equities.
3. Growth Fund: The investment objective of this fund is to provide you with investment
returns, which exceed the rate of inflation in the long term while maintaining a moderate
probability of negative investment returns. A greater portion of your funds are invested in
Fixed Securities while a small percentage is invested in the Equity Market, which is exposed
to market movements. The risk profile of this fund is medium to high.
Investment would be at least 60% in Fixed Interest Securities and maximum 40% in Equities.
4. Equity Fund: The Investment Objective of this fund is to provide Policyholders with high
exposure to equities and the possibility of investment returns which generate a high real rate
of return in the long term while recognizing that there is a significant probability of negative
investment returns in the short term. This fund offers a totally equity based investment
option. Your returns depend entirely upon the performance of the equity market. The risk
profile of this fund is high. The higher risk of this portfolio means that expected returns
would also be higher.
Investments would not exceed 30% in Bank Deposits and may be 100% in equities.
The investment in Money Market Instruments under the Balanced, Growth and Equity funds
is restricted to 20%.
Value of Units: The Unit Price of each fund will be the Unit Value calculated on a daily
basis.
Total Market Value of assets plus/less expenses incurred in the purchase/sale

of assets plus Current Assets plus any accrued income net of Fund
Management Charges less Current Liabilities less Provision
Unit Value =
---------------------------------------------------------------------------------------------
-
Total Number of units on issue (before any new units are allocated/redeemed)
Flexibilities
74
Flexibility to pay top-ups: If you have received a bonus or some lumpsum money you can
use that as a top-up to increase your investments at any time in your Policy. The minimum
Top up amount is Rs. 2,500. 95% of any amount paid as top-up is allocated to your funds.
Flexibility to pay Single Premium: If you do not want to pay premium regularly, you can
choose to opt for Single Premium. The minimum Single Premium amount is Rs 10,000.
Flexibility to switch between funds: Depending upon the performance of your funds you
can switch between them. There will be one free switch in a Policy Year and for additional
switches, Switching Charge of 1% of amount switched will be levied, subject to a maximum
of Rs 1000 on each such occasion.
Flexibility to advance/extend your Vesting Age: You may choose to extend the Vesting
Date to any later Policy Anniversary, provided the Policy vests before the attainment of age
70 years. The request for extending the Vesting Date must be made at least one month before
the original Vesting Date.
After the Vesting Date, the benefit payable at any time will be the Fund Value.
The Policyholder may also choose an earlier Vesting Date, after completion of five years of
Policy Term or age 45 years, whichever is later. The request for an earlier Vesting Date
should be received at least one month before the proposed Vesting Date.
On attainment of the new Vesting Date the Policyholder is eligible to purchase Annuity for
the full Fund Value or commute up to one third of the Fund Value as tax free lump sum and
the balance can be used for the purchase of annuity. The annuity can also be purchased from
us or from any other registered Life Insurance Company.
Minimum Policy Term 5 years
Minimum age at entry 18 years
75
Maximum age at entry 65 years
Minimum age at vesting 45 years
Maximum age at vesting 70 years
What if I want to discontinue paying premium?
During first 3 years of the inception of the policy: If premiums have not been paid
for at least three consecutive years from inception, the Policy will continue to participate in
the performance of Unit Funds chosen by you.
You may revive the Policy by re-commencing the premium payment within the Revival
Period from the date of first unpaid premium or before the Maturity Date of the Policy
whichever is earlier. In the event the Policy is not revived during Revival Period, the Policy
shall be terminated and the Surrender Value, if any, shall be paid at the end of the period
allowed for revival.
After paying of at least three full years’ premiums: If premiums have been paid
for at least three consecutive years and subsequent premiums are unpaid, the Policy will
continue to participate in the performance of the Unit Funds chosen by you.
years from the date of first unpaid premium or before the maturity date of the Policy,
whichever is earlier. At the end of the allowed period for revival, if the Policy is not revived,
the Policy shall be terminated by paying the Surrender Value. If at any time, the Fund Value
reaches an amount equivalent to one full year’s premium, the Policy shall be terminated by
paying the Fund Value.
You may revive a Policy by recommencing the payment of premiums at any time within a
period of three years from the due date of first unpaid premium but before the maturity date
of the Policy.
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You may surrender your Policy after three years from commencement. The Surrender Value
we will pay is a percentage of your Fund Balance according to the following table:
Year of Policy surrender Surrender Value as a percentage of the Fund Value

First 3 years Nil
4th Policy Year 90%
5th Policy Year 95%
6th and subsequent Policy Year 100%
Are there any flexible Premium Payment Modes?
a. Single Premium with minimum premium of Rs 10,000
b. Yearly with minimum premium of Rs 10,000
c. Half-yearly with minimum premium of Rs 5,000
d. Quarterly with minimum premium of Rs 2,500
e. Monthly with minimum premium of Rs 1,000
f. Minimum top-up premiums is Rs. 2,500
Grace Period
Premiums due, have to be paid within the grace period of 30 days, 15 days for monthly mode.
Charges under the plan
Premium Allocation Charge:
Year 1 10%
Subsequent years 5%
Single premium 5%
Top-Up premiums 5%
Fund Management Charges:
Unit Linked Funds Annual Rate*

Capital Secure 1.50%
Balanced 1.50%
Growth 1.75%
77
Equity 1.75%
* The Fund Management Charge is levied on daily basis at the time of computation of unit
price.
Switching Charge: One free switch is allowed in each Policy Year. Subsequent switches will
attract a charge of 1% of the amount switched subject to a maximum of Rs 1000 per switch.
This charge will be recovered by cancellation of units.
Surrender Charges: The Surrender Charges as percentage of Fund Value are given below:
Year of Policy surrender Surrender Charges as percentage of Fund Value

1 to 3 100%
4 10%
5 5%
6 or more Nil
Revision of Charges
The Fund Management Charges are subject to revision at any time but they will not exceed
2% p.a. for the Capital Secure Fund and 2.5% p.a. for the Balanced, Growth and Equity
Funds.
The changes in the Fund Management Charges are subject to IRDA’s approval.
How safe is your investment?
1. The investments made in the funds are subject to market risks that are prevalent at any
point in time.
2. The Unit Price is a reflection of the financial and Equity/Debt Market conditions and
can increase or decrease at any time due to this.
3. Benefit payable under the Policy will be made according to the tax laws and other
regulations in force at that time.
78
4. There are no guarantees for any fund of any kind under this Policy. The benefit
payable on maturity will be equal to the value of your units.
5. The name of the funds in no way indicates the returns derived from them.
6. Please note that Reliance Life Insurance Company Limited is only the name of the
Insurance Company and Reliance Golden Years Plan is only the name of the Policy
and does not in anyway indicate the quality of the Policy or its future prospects or
returns.
Tax Benefit
Premiums paid are eligible for tax deduction under the Income Tax Act, 1961 and subsequent
amendments.
15 Day Free Look Period
premium paid by the Policyholder less stamp charges.
79
The premium paid in Unit Linked Life Insurance policies are subject to investment risks
associated with capital markets and the NAVs of the units may go up or down based on the
performance of fund and factors influencing the capital market and the insured is responsible
for his/her decisions.
Reliance Life Insurance Company Limited is only the name of the Insurance Company and
Reliance Golden Years Plan is only the name of the unit linked life insurance contract and
does not in any way indicate the quality of the contract, its future prospects or returns.
80
Table -1
1. Do you know about Insurance?
(a) Yes - 92%
(b) No - 8%
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 Almost 92% people are aware from the insurance why is important in the life 8%
are those who are far from insurance.
Table -2
2. Have you ever opted for Insurance from Any Company?
(a) Yes - 61%
(b) No - 39%
82
 Almost 61% people are insured any company and 39% people did not insured
Table -3
3. If Yes, Which Company has you taken Insurance from?
LIC 42%
Reliance life Insurance 7%
HDFC Standard Life Insurance 12%
HDFC Pur 19%
Max New York Life Insurance 8%
Birla san life Insurance 10%
Met life insurance 2%
83
 LIC is the more reliable than any other company in the insurance sector and only
7% people are interested in reliance
Table -4
4. How did you come to know about Insurance?
(a) Advertisement - 76%
(b)Through advisor - 14%
(c) Referred by your company / Friend - 10%
84
 Insurance mostly come into existence by the advertisement and almost 76%
people come to know by advertisement other by words of amount.
Table -5
5. What made you select a particular Company for the Insurance?
(a) EMI - 78%
(b) Brand name - 3%
(c) Procedures - 9%
(d) Facilities - 1%
(e) Policies - 7%
85
(f) Advertisement - 2%
 Almost 78% people are select the insurance company by their simple EMI, people
want to be relief financially other mode is less important.
Table - 6
6. How do you like the Marketing strategy by different Companies?
(a) Good - 68%
(b) Average - 19%
(c) Bad - 13%
86
13% Good
Average
Bad
19%
68%
 Almost all companies have taken the good marketing strategy.
Table - 7
7. What motivates you for selecting any Company for Insurance?
(a) EMI - 76%
(b) Brand name - 4%
(c) Procedures - 9%
(d) Facilities - 3%
(f) Policies - 8%
87
 EMI of the company mostly attract to the customer than any other motives.
Table - 8
8. Which Company would you prefer if you have never applied for Insurance?
LIC 56%
Birla sun life Insurance 7%
HDFC Standard Life Insurance 12%
ICICI PUR 17%
Max New York Life Insurance 8%
Reliance life Insurance 5%
Met Life Insurance 3%
88
 Almost 56% people want to be insured in LIC & only 5% people’s response in
favour of Reliance Company for insurance.
89
FINDINGS
This chapter deals with the concluded aspects of the study carried out on “A view about Life
Insurance”. The basic objective is for the study is for which study was carried out has been
fulfilled in the earlier chapter, based on the objective interview schedule was designed. Data
collected based on schedule was analyzed and some findings have emerged.
Major Findings of the Study
90
Based on the quantitative analysis the major findings of the study have been highlighted
below:-
 Most of the people are satisfied with the extent of their life insurance cover. They are not
interested in buying more life insurance.
 People do not consider life insurance as a good savings because of low returns.
 As life insurance is a long term contract. Maximum people do not have faith on private
life insurance companies, they still prefer LIC.
 Because of less advertising not many people are aware about private life insurance
companies.
 Most of the people do not know about broker, corporate agents and banc assurance, they
rely on their agents only
 The most preferred type of plan is money back. The reason being availability of funds
after every five years which can be used for paying further premium, thus saving the
regular income.
 Some people have no idea about what type of cover they have.
 Most of the people feel that life insurance is essential but they think returns are low.
SUGGESTIONS
 Advertising of the insurance product should stress on the need of security.
 Insurance should be popularized as the means of securing future rather than saving tax.
 New entrants should come out with innovative riders.
 Policies should be issued quickly and with less formalities
91
 Other service should also be improved.
 Newspaper/Magazines and television are the most effective medium of advertising life
insurance.
 Insurance agents should be well trained.
Dividend for the Financial Year 2004-05
The Board of Directors of the Corporation has recommended payment of dividend of 170%
(Rs. 17 per share), for the financial year ended March 31, 2005, for approval of the
shareholders at the AGM. [Previous year 135% (Rs. 13.50 per share)]
Dividend entitlement is as follows:
 For shares held in physical form: shareholders whose names appear on the register of
members of the Corporation as at the close of business hours on June 30, 2005.
 For shares held in electronic form: beneficial owners whose names appear in the
statements of beneficial position furnished by NSDL and CDSL as at the close of
business hours on June 30, 2005.
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CONCLUSION
There has been tremendous change in the insurance history. And with it there has been
continuous growth in this sector both in Indian as well as world context. The opening up of
the insurance sector has changed the whole look of the industry. When to the LIC in order to
face the competition is coming with new strategies. New players like Reliance are leading the
sector due to their strategic management and tailored made projects. The primary reasons for
buying an insurance policy but life or non-life are to protect us from vagaries of life. We do
93
not invest in insurance for returns; rather we invest in it for regrettable necessities. Though a
large proportion of policies available in the country provide for returns, but nobody is looking
for returns to the inflation rate. So what does insurance offer, perhaps peace of mind, but even
that takes times, due to poor claim performance. The demand for insurance is likely to
increase with rising per-capita incomes, rising literacy rates and increase of the service sector,
as has been seen from the example of several other developing countries. In fact, opening up
of the insurance sector is an integral part of the liberalization process being pursued by many
developing countries? Insurance is an Rs.400 billion business in India and yet its spread in
the country is relatively thin. Insurance as a concept has not been able to make headway in
India. There has been a strong fall in insurance business in recent years. Furthermore, it can
be observed that non-life business is not increasing as strongly as life business. On the other
hand, growth fluctuations have been relatively small with growth rates varying between 1%
and 5%. Life insurance business by contrast achieved average growth rates of 6%, although
the actual rates ranged from 0% to 13%. This shows on the one hand the increasing
significance of life insurance as an instrument for old age provisions and on the other hand
indicates the sensitivity of life insurance to changes in the institutional and economic
environment.
RECOMMENDATION
There are certain flaws existing in this working of the insurance industry. There are some of
the recommendation we ad come up with while doing this project. It will help to make
insurance more important sector in today’s economy.
The need of the hour is to devise a comprehensive strategy that will help the firms face the
challenges of the future. The financial services industry around the world over is undergoing
94
a major transformation. It is very important that trained marketing professionals who are able
to communicate specific features of the policy should sell the policy.
From our research we could find out that people are not aware about the policies and features
of insurance. Therefore LIC and Reliance are recommended to shed light on policies and
explain the benefits, thus increasing the awareness.
The penetration of insurance in India is around 22%. This indicates that a vast majority of
rural population is not covered. The market player needs to explore this untapped potential
through their marketing and sales network.
The returns of the policies are not properly managed and never given in time. So, these must
be looked at. Pricing of insurance products or as empirically available in India and shows that
pricing is not in consonance with market realities. Life Insurance premium is generally
perceived, as being too high while general insurance (especially motor insurance) is priced
too low.
Some insurance products, which are not available in India, should, be introduced in market.
There are areas for new product development: Industry all risk policies, Large projects risk
cover, Risk beyond a floor level, Extended public and product liability cover
Insurance companies will also have to get savvy in distribution. Enhanced marketing thus
will be crucial. Already many companies have full operation capabilities over a 12-hour
period. Facilities such as customer service center are already into 24-hour mode. These will
provide services such as motor vehicle recovery. Technology will also play an important role
on the market.
The lines of distinction between banks insurance companies and brokerages are getting
blurred. The future seems to belong to financial supermarkets that will offer a host of services
and products to the consumer. In the next millennium all these activities would play a crucial
role in the overall development and maturity of the insurance industry
95
96
BIBLIOGRAPHY
The various sources from where I collected data’s are as follows.
 Web Sites:
http://www.reliancelife.co.in/website/our_founder.asp
http://www.reliancelife.co.in/website/aboutus.asp
http://www.reliancelife.co.in/website/products/reliance_automatic_investment_pla
n.asp
http://www.reliancelife.co.in/website/products/reliance_money_guarantee_plan.as
p
97
http://www.reliancelife.co.in/website/products/reliance_endowment_plan.asp
http://www.reliancelife.co.in/website/products/reliance_special_endowment_plan.
asp
http://www.reliancelife.co.in/website/products/reliance_cash_flow_plan.asp
http://www.reliancelife.co.in/website/products/reliance_child_insurance_plan.asp
http://www.reliancelife.co.in/website/products/reliance_term_plan.asp
http://www.reliancelife.co.in/website/products/reliance_whole_life_insurance_pla
n.asp
http://www.reliancelife.co.in/website/products/reliance_market_return_plan.asp
http://www.reliancelife.co.in/website/products/reliance_golden_years_plan.asp
http://www.reliancelife.co.in/website/tnc.asp
 News Papers:-
1. The Economic Times.
2. Times of India
QUESTIONNAIRE
 Name:
 Occupation
Q1. Do you know about Insurance?
Yes
No
Q2. Have you ever opted for Insurance from any company?
Yes
No
98
Q3. Which company have you taken Insurance from?
LIC
SBI Insurance
HDFC Standard Life Insurance
ICICI PUR
Max New York Life Insurance
LIC
Reliance life Insurance
Q4. How did you come to know about Insurance?
Advertisement
Word of Mouth
Referred by your company / Friend
Q5. What made you select a particular company for the Insurance?
EMI
Brand name
Procedures
Facilities
Policies
Advertisement
Q6. How do you like the Marketing strategy by different Insurance Company?
Good
Average
Bad
Q7. What motivates you for selecting any Company for Insurance?
EMI
99
Brand name
Procedures
Facilities
Policies
Q8. Which Company would you prefer if you have never applied for Insurance?
LIC
SBI Insurance
HDFC Standard Life Insurance
HDFC Pur
Max New York Life Insurance
LIC
Reliance life Insurance
100

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ACKNOWLEDGEMENT

It was a great pleasure to present this report, which is the study of

Working on this project was a great challenge. I thanks this opportunity to

I would like to express my sincere thanks to MR. DEVESH GUPTA (Head of

I hereby declare that the project report “MARKETING AND HUMAN

LIFE INSURANCE IN INDIA

establishment of a British firm Oriental Life Insurance Company in Calcutta in 1818

1956 with a capital contribution of Rs.50.

HISTORY OF INSURANCE IN INDIA

Life Insurance Corporation (LIC) of India. Similarly after nationalization of general

chosen after independence.

objectives of privatization are:-

1. To provide better Insurance coverage to Indian citizens.

2. To augment the flow of long-term financial resources to finance the growth of

responsibility now has been entrusted to the private insurers.

$144 for Malaysia.

HISTORY OF DHIRUBHAI AMBANI

a legacy that is more enduring and timeless.

by a small club of elite investors which dabbled in a handful of stocks.

in the Indian markets.

largest private sector enterprise.

MAJOR PLAYERS OF LIFE INSURANCE IN INDIA

1. Life Insurance Corporation of India

Reliance started from scratch today, it is India’s largest private

 1956 Birth of reliance first textile mill at NARODA

 1971-72 Launch only VIMAL brand

 1997 First corporate in Asia issue 50 and 100 yrs Bond in US

 2000RELIANCE noncom plans announced

 2003 CONTROLLING STAKE IN BSES(REL) LARGEST MOBILE SERVICES

 2005 ADA ENTERPRISES FORMED FOLLOWING SPLIT IN RELIANCE GRP

 2006 Emerging of RELINCE LIFE INSURANCE

6. NIS Sparta Ltd.

Reliance Life Insurance Company Limited

To be the dominant new player in life insurance industry

This will be achieving through:

 Recruitment of quality advisors

 Intensive product training

 Selling skill training

 Superior technology & processes

 Innovative financial solution

 Leading private life insurance company

 Strong brand recognition

 State –of –art support services

BRANCH DEVELOPMENT MANAGER

EXECUTIVE SALES MANAGER

SR. SALES MANAGER SR.SALES MANAGER

8 TO ASST. SALES MANAGER

are 4 distinct BSM.

the ESM of the branch.

he has to report his respective ASM.

the business they are fetching as well.

particular day on which the advisor has report in office.

1. Banker & brokers

3. Small allied group

specification, which needs to be met each advisor of any insurance company

LIST OF KEY MANAGEMENT PERSONNEL

1) BRANCH DEVELOPMENT MANAGER Mr. ANURAG TYAGI

2) EXCUTIVE SALES MANAGER Mr. ABHIROOP PANDAY

3) SENIOUR SALES MANAGER Mr. AJAY TYAAGI

4) ASST. SALES MANAGER Mr. SANDEEP MOUDGIL

5) ASST. SALES MANAGER Mr. VINAY JAISWAL

6) ASST. SALES MANAGER Mr. RAJIVE KAPOOR

dilemma to decide to go for which company.

of finding and analysis.