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EXECUTIVE SUMMARY
This project, which was taken by me, on behalf of RELIANCE LIFE INSRANCE C!"#AN$
LI"ITE%, &ansath, was mainly foc'se( on )Recr'itin* Financial A(+isors for enhancin* the network
of in('stry-
The i(ea was mainly foc'se( on how the network (istrib'tion can be enhance( by foc'sin* on the
ri*ht tar*et *ro'p which can stren*then the company.s foothol( an( can increase b'siness an( who are
act'ally to become company.s ambassa(ors in the common masses foc'sin* an( caterin* to the
b'siness c'stomers of the company-
The Network %istrib'tion as sai( here refers to the Financial A(+isors who on behalf of the company
promote company.s pro('cts amon* the c'stomers an( create awareness for the company.s ima*e-
The company as ha+in* the /th lar*est sales force amon* #ri+ate #layers follows a strict co(e of
recr'itment as the Financial A(+isors or the sales persons as they are *oin* to be company.s a(+isor.s
or ambassa(ors as sai( earlier-
The project not only emphasi0e( on enhancin* network (istrib'tion or the sales force b't also
'n(erstan(in* the h'man psycholo*y re*ar(in* ins'rance an( abo't Reliance Life Ins'rance an(
#ri+ate #layers in Ins'rance Sector- The project was partly (one in 'rban %elhi an( partly in it.ss'b'rban-
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OBJECTIVE
The objecti+e of the project was recr'itin* an( b'il(in* a h'man capital thro'*h a strict
way for no'rishin* the company in the lon* r'n an( impro+e its position in the market
an( increase its sale- The main i(ea was *ettin* a ri*ht profile can(i(ate rather than a
(o0en a(+isors who are worthless- A sin*le person who is e2tro+ert with *oo( contacts
an( sellin* skills co'l( (o a won(er an( can become an asset beca'se this in('stry
(eman(s professionalism, instant (ecision makin*, constant inno+ation, an(
'n(erstan(in* of h'man psycholo*y- This project was both 3'alitati+e an( 3'antitati+e-
4eca'se while recr'itin* people ,I co'l( not sacrifice the 3'alitati+e aspect for the
3'antitati+e aspect so on many occasions I ha( to cancel my appointments j'st after
makin* telephonic con+ersations-
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INDUSTRY PROFILE
INSURANCE INDUSTRY AN OVERVIEW
Ins'rance may be (escribe( as a social (e+ice to re('ce or eliminate risk of life an( property- n(er
the plan of ins'rance, a lar*e n'mber of people associate themsel+es by sharin* risk, attache( to
in(i+i('al- The risk, which can be ins're( a*ainst incl'(e fire, the peril of sea, (eath, inci(ent, 6
b'r*lary- Any risk contin*ent 'pon these may be ins're( a*ainst at a premi'm commens'rate with the
risk in+ol+e(-
Ins'rance is act'ally a contract between 5 parties whereby one party calle( ins'rer 'n(ertakes in
e2chan*e for a fi2e( s'm calle( premi'm to pay the other party happenin* of a certain e+ent-
Ins'rance is a contract whereby, in ret'rn for the payment of premi'm by the ins're(, the ins'rers pay
the financial losses s'ffere( by the ins're( as a res'lt of the occ'rrence of 'nforeseen e+ents- 7ith the
help of ins'rance, lar*e n'mber of people e2pose( to a similar risk makes contrib'tions to a common
f'n( o't of which the losses s'ffere( by the 'nfort'nate few, ('e to acci(ental e+ents, are ma(e *oo(-
This is the c'rrent scenario of the *lobal Ins'rance In('stry an( now, let 's looks at the basic f'nctions
of ins'rance- 7hile conce(in* that ins'rance is a risk8transfer tool, corporate sho'l( be ma(e to
'n(erstan( that it (oes not s'ffice merely to transfer the risk b't they ha+e to participate in the effort of
loss pre+ention- New b't they ha+e to participate in the effort of loss pre+ention- New techni3'es an(
technolo*y ha+e to be a(opte( from time to time in or(er to impro+e performance an( this has special
si*nificance to the or(er to impro+e performance an( this has special si*nificance to the In(ian
Ins'rance In('stry- The In(ian ins'rance in('stry has always s'ffere( from (rawbacks like lack of
proper 'n(erstan(in* of the p'rpose of ins'rance, lopsi(e( *rowth etc- 7ith the openin* 'p of the
in('stry, it is hope( that the new entrants with their better channels wo'l( sprea( the real messa*e of
ins'rance, lea(in* to a (ynamic *rowth- Emphasis sho'l( be on fin(in* new technolo*ical a+en'es,altho'*h it has been obser+e( worl( o+er that for sellin* ins'rance, an eye8to8eye contact is essential-
Internet can be
se( for better ser+icin* which wo'l( e+ent'ally, lea( to b'siness (e+elopment- 7ith the entry of
forei*n companies into the ins'rance arena, a fresh life has been in('cte( an( there is a *reat (eal of
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optimism in the air that the market wo'l( a'tomatically create a +ibrant competition lea(in* to the
c'stomer bein* the 'ltimate winner-
HISTORICAL ASPECTS OF INSURANCE IN INDIA
Ins'rance acti+ity in In(ia is *oin* on for more than 1/: years- In In(ia, life ins'rance in its mo(ern
form was bro'*ht for the first time by 4ritishers- The Oriental Life Insurane C!"#an$starte( in
1;1; in Calc'tta was the first to be fo'n(e( in In(ia by E'ropeans to help the wi(ows of their
comm'nity- The *eneral ins'rance b'siness in In(ia, on the other han(, can trace its roots in Trit!n
Insurane C!"#an$ Lt%&' the first *eneral ins'rance company establishe( in the year 1;/: in
Calc'tta by the 4ritish- The year 1;15- In 1>5;, the In(ian
Ins'rance companies act enable( the *o+ernment to collect statistical information abo't both life an(
non8life ins'rance b'siness- Later, the ins'rance Act of 1>9; was passe( an( %epartment of Ins'rance
'n(er a'thority of s'perinten(ent of ins'rance was establishe( for the a(ministration of the Act- p to
1>9>, 1>> companies were workin* in In(ia- =owe+er, the perio( 1>9>8// was marke( by?
7orl( 7ar II res'ltin* in hasty premi'm a(j'stments by In(ian companies-
Series of amen(ments to the ins'rance Act, 1>9;-
Appointment of a committee 'n(er the Chairmanship of Sir Cowasji &ehan*er to en3'ire
into an( to recommen( meas'res to check certain tren(s an( 'n(esirable feat'res in themana*ement of ins'rance companies-
The fin(in*s of the s'b8committee on ins'rance 'n(er the National #lannin* Commission
hea(e( by #t- &awaharlal Nehr'-
#artition of In(ia-
%e8+al'ation of r'pee on September 1;, 1>@>-
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A(+ise the s'per+isory a'thority in the matter of controllin* e2penses
Interact with the Bo+ernment an( other bo(ies on policy matters
Acti+ely participate in sprea(in* ins'rance awareness in In(ia
Take steps to (e+elop e('cation an( research ins'rance
=elp brin* to In(ia the benefit of the best practices in the worl(
T*e C!unil ,ill
Stri+e for a positi+e ima*e of the in('stry thro'*h me(ia, for'ms an( opinion8 makers an(
enhance cons'mer confi(ence in the in('stry
Assist the in('stry in maintainin* hi*h stan(ar(s of ethics an( *o+ernance
#romote awareness re*ar(in* the role an( benefits of life ins'rance
!r*ani0e str'ct're(, re*'lar an( proacti+e (isc'ssions with Bo+ernment, lawmakers an(
Re*'lators on matters rele+ant to the contrib'tion by the life ins'rance in('stry an( act as an
effecti+e liaison between them
Con('ct research on operational, economic, le*islati+e, re*'latory an( c'stomer8oriente(
iss'es in life ins'rance, p'blish mono*raphs on c'rrent (e+elopments in life ins'rance an(
contrib'te to the (e+elopment of the sector
Set 'p the "ortality an( "orbi(ity Information 4'rea' ""I4D an( take an acti+e role in its
f'nctionin*
Set 'p similar or*ani0ations for the benefit of the life ins'rance in('stry
Act as a for'm of interaction with or*ani0ations in other se*ments of the financial ser+ices
sector
#lay a lea(in* role in ins'rance e('cation, research, trainin*, (isc'ssion for'ms an(
conferences
#ro+i(e help an( *'i(ance to members when necessary
4e an acti+e link between the In(ian life ins'rance in('stry an( the *lobal markets
Le-islati!ns . C!ntr!l
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A((ress common iss'es in le*islation an( practice- Interface with the +ario's other re*'latory
bo(ies on behalf of the ins'rance in('stry-
I(entify re*'larly the important iss'es to be taken 'p with Bo+ernment an(or IR%A 6#FR%A an( make presentations on behalf of the in('stry
#repare benchmarks for the in('stry in all areas of operation an( help maintain hi*h stan(ar(s
of con('ct, ethics an( *o+ernance
Take meas'res to pre+ent practices that are (etrimental to the interests of the policyhol(ers
Trainin- . Certifiati!n
Take 'p the work relatin* to the trainin*, e2amination an( certification of A*ents as pro+i(e(
in the Ins'rance Act
#lay a positi+e role in establishin* stan(ar(s, trainin* of officials an( interme(iaries not only in
pro('cts an( sales b't also other aspects rele+ant to the life ins'rance in('stry an( lift the le+el
of professionalism
Con('ct professional (e+elopment pro*rams in collaboration with international co'ncils an(
life ins'rance instit'tes
E%uati!n . A,areness
La'nch re*'lar ins'rance awareness pro*rams
Facilitate the con('ctin* of Contin'o's %e+elopment #ro*rams for interme(iaries
#ro+i(e str'ct're( re*'lar information to the p'blic abo't the in('stry
La'nch an interacti+e websiteLife Ins'rance &o'rnalsnewsletters
!r*ani0e participate in major conferences, seminars, workshops an( lect'res by
In(ian+isitin* e2perts on ins'rance an( relate( areas
Facilitate knowle(*e8e2chan*e pro*rams both in In(ia an( with Co'ncils abroa(D to (e+elop
an( 'p*ra(e the skills of local ins'rance professionals
Co8or(inate with e('cational instit'tions in In(ia an( o+erseas to enco'ra*e research,
professional (e+elopment co'rses etc-
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Ele+ate the profession of ins'rance sellin* an( that of the A(+isor, to that of financial analysts
an( planners thro'*h certification pro*rams (e+elope( in conj'nction with In(ian an(
International instit'tions Establish a cons'mer relations cell
T*e Pr!"ise
Stren*thenin* the role of the ins'rance sector in In(ia an( creatin* wealth for its people The Life
Ins'rance Co'ncil- A three way interaction amon* the ins'rer, the ins're( an( Re*'latory bo(y- A
con+er*ence of interests an( the collecti+e +oice of life ins'rance-
In Pers#eti/e
In(ian Life Ins'rance In('stry
"ore than a cent'ry in In(ia
Lar*e mobili0ations of sa+in*s ne2t only to banks
Si*nificant participant in the Capital "arkets
Constit'tes 1/G of Bross %omestic Sa+in*s
Assets 'n(er mana*ement 8 more than Rs- @,::,::: Crores
In+este( in Infrastr'ct're 8 Rs- @:,::: Crores
Employment
Employs close to 5, ::,:::- Retail c'stomers? >5G
A*ency Force
1-/ million
#olicies in force
Nearly 5: crores
!ffices
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Nearly 9::: offices across In(ia an(
*rowin*
Browth
#enetration *rew from 1-5G to 5-5G of B%#
Ins'rance %ensity *rew from Rs- 5;: to Rs- :: per capita premi'mD
#remi'm *rown from Rs- 5;,::: Crores to Rs- 9, ::: Crores
INSURANCE SECTOR REFORMS
The ins'rance sector be*an its reform process with the passa*e of the IR%A the Ins'rance Re*'latoryan( %e+elopment A'thorityD bill in #arliament in %ecember 1>>>- =owe+er with the settin* 'p of
IR%A, the *o+ernment has once a*ain (e8re*'late( the sector openin* it for the pri+ate players- The
entry of pri+ate players has enable( the in('stry to look at alternati+e (istrib'tion channels- To *et the
ma2im'm pie of the premi'm, e+ery ins'rance company is a(optin* new (istrib'tion an( marketin*
strate*ies- The transition of the ins'rance in('stry from a p'blic monopoly to a competiti+e
en+ironment now presents +ery interestin* challen*es both to the new players an( to the c'stomer- Not
only the new players ha+e an opport'nity to test o't their +ario's hypotheses an( apply learnin*.s from
o+erseas markets, the c'stomer will ha+e a *reater choice when it comes to choosin* a pro+i(er or a
sol'tion for their nee(s-
(ENEFIT OF INSURANCE
Ins'rance can be seen as a he(*e a*ainst the 'ne2pecte( calamities like (eath, theft or (ama*e of
property ('e to acci(ents, fire etc- The ins'rance potential 'ntappe( means h'man an( physical assets
'nprotecte( an( their worth 'npreser+e(- The sense of lost worth is relati+ely easy to 'n(erstan( in the
case property- 4't it is (iffic'lt to +iew h'man bein*s from this an*le- 7hen these two thin*s are
appreciate( in their ri*ht spirit, life ins'rance in In(ia will not remain simply as one more so'rce or
a+en'e of sa+in*s-
The most important benefit is the i(entification of 'ne2pecte( losses- Restorin* of losses not
only reb'il(s the economic +iability of an or*ani0ation b't also stren*thens the society at lar*e- 7hen
the 'ncertainty *ets re('ce( an ins're( person can spen( more time an( ener*y, work with *reater
concentration, res'ltin* in hi*her efficiency an( better performance- From the mana*ement point of
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+iew, it is acc'm'lation of f'n( for in+estment in the fiel( of national priority- Acc'm'lation of f'n(
stems o't of a *ap in in8payment timin*s-
This means a lar*e amo'nt of money remainin* 'n(er the (isposal of ins'rer for in+estment in
a more pro('cti+e way- The other major benefit arisin* o't of ins'rance is the stren*thenin* of small
b'siness ho'ses- Ins'rance can help a small 'nit to *et in+ol+e( with those economic acti+ities for
which reso'rce re3'irement is beyon( its infernally acc'm'late( f'n( an(or mobili0in* capacity- The
bi**est beneficiary of the incomin* competition in ins'rance will be In(ian cons'mers- They will ha+e
more choice of ins'rance schemes- At present In(ians are the most (epri+e( ins'rance c'stomers in the
worl(, o't of abo't 1/: *eneral ins'rance schemes on the *lobal le+el, only 1: per cent of them are
offere( by the fo'r s'bsi(iaries of the BIC- So thro'*h pri+ation cons'mers will *et wi(e ran*e of
ins'rance pro('cts- Also claims settlement will be hassle free an( c'stomer frien(ly-
CHALLEN0ES FOR INSURANCE SECTOR
Ins'rance companies in In(ia will ha+e to (e+elop appropriate channels to lap this h'*e market
as the core of ins'rance b'siness hin*es on an efficient (istrib'tion-
%irect marketin* is one of the most s'ccessf'l channels of (istrib'tion in the (e+elope(
economics- It is a *reat way to reach a lar*e pop'lation- So the pro('ct sho'l( be sol( thro'*h
telemarketin* or (irect mail-
In the ins'rance b'siness cost control an( ability to ser+ice lar*e n'mber of c'stomers are
cr'cial iss'es- So mo(ern technolo*y is to be a(opte( to han(le both the ser+ices effecti+ely-
To(ay c'stomers are well e3'ippe( with information, so ins'rance company sho'l( reposition
(ifferent pro('ct by chan*in* c'stomer attit'(es-
The act'ary sho'l( be re3'ire( to atten( minim'm n'mber of seminars calle( contin'o's
professional (e+elopment co'rses for financial control of the or*ani0ation-
%istrib'tion of e2istin* ins'rance pro('cts is the main co'rse of worry for ins'rance
companies in In(ia- The ins'rance companies are 'sin* 74FCS, banks an( ho'sin* finance-
Companies for (istrib'tion (o not ha+e m'ch control on the a*ents an( hence lose 3'ality in the
(istrib'tion channel- So 4ank.s a(+isory committee, representation of a*ency sho'l( be license(-
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A(OUT RELIANCE LIFE INSURANCE
An O/er/ie, !f Its !ri-in
Reliance Life Ins'rance Company Limite( is a part of Reliance Capital Lt(- of the Reliance 8 Anil
%hir'bhai Ambani Bro'p- The company ac3'ire( 1:: per cent sharehol(in* in A"# Sanmar Life
Ins'rance Company in A'*'st 5::/- Takin* o+er A"# Sanmar Life pro+i(e( Reliance Life Ins'rance
a rea(yma(e infrastr'ct're an( a portfolio- A"# Sanmar Life Ins'rance was a joint +ent're between
A"#, A'stralia an( the Sanmar Bro'p- =ea(3'artere( in Chennai, A"# Sanmar ha( o+er >: offices
across the co'ntry, >,::: a*ents, an( more than >:: employees-
Reliance Life Ins'rance Company Limite( is a part of RelianceCapital Lt(- of the Reliance 8 Anil %hir'bhai Ambani Bro'p- Reliance Capital is one of In(ia.s lea(in*pri+ate sector financial ser+ices companies, an( ranks amon* the top 9 pri+ate sector financial ser+icesan( bankin* companies, in terms of net worth- Reliance Capital has interests in asset mana*ement an(
m't'al f'n(s, stock brokin*, life an( *eneral ins'rance, proprietary in+estments, pri+ate e3'ity an(other acti+ities in financial ser+ices-
Reliance Capital Limite( RCLD is a Non84ankin* Financial Company N4FCD re*istere( with the
Reser+e 4ank of In(ia 'n(er section @/8IA of the Reser+e 4ank of In(ia Act, 1>9@-
Reliance Capital sees immense potential in the rapi(ly *rowin* financial ser+ices sector in In(ia an(
aims to become a (ominant player in this in('stry an( offer f'lly inte*rate( financial ser+ices-
Reliance Life Ins'rance is another step forwar( for Reliance Capital Limite( to offer nee( base( LifeIns'rance sol'tions to in(i+i('als an( Corporates-
Hu"an Res!ures
)In my book, we ha+e no *reater asset than the 3'ality of o'r intellect'al capital, an( no *reater
priority than the *rowth an( retention of o'r +ast pool of talent Anil %hir'bhai Ambani
At Reliance 8 Anil %hir'bhai Amabani Bro'p, we reco*nise the critical role that o'r people play in the
s'ccess an( *rowth of each of o'r b'sinesses- It is the skill an( initiati+e of o'r workforce that sets 's
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apart from o'r peers in to(ay.s knowle(*e8(ri+en economy- It is their commitment an( (e(ication that
len(s 's the competiti+e e(*e, an( helps 's stay ahea( of the c'r+e-
Its stron* team of professionals is amon* the yo'n*est in the co'ntry, an( consists of some of the most
(ynamic, moti+ate( an( 3'alifie( in(i+i('als to be fo'n( anywhere in the worl(- First8rate
mana*ement *ra('ates, hi*hly traine( en*ineers, top8notch financial analysts an( ra0or sharp
acco'ntantsJwe ha+e on o'r rolls some of the bri*htest min(s in the b'siness-
Missi!n
Its transparent =R policies an( rob'st processes are (ri+en by a sin*le o+erarchin* objecti+e? To
attract, n'rt're, *row an( retain the best lea(ership talent in e+ery sector an( in('stry is which we
operate-Visi!n
To b'il( a *lobal enterprise for all o'r stakehol(ers, an(
A *reat f't're for o'r co'ntry,
To *i+e millions of yo'n* In(ians the power to shape their (estiny,
The means to reali0e their f'll potential
Ai"
To create a team of worl( beaters that is?
Committe( to e2cellence in 3'ality,
Foc'se( on creation an( enhancement of stakehol(er +al'e
Responsi+e to e+ol+in* b'siness nee(s an( challen*es
%e(icate( to 'phol( the core +al'es of the Bro'p
Pr!"ise
In or(er to achie+e o'r objecti+e, we offer o'r people---
Browth opport'nities to e2pan( lea(ership capabilities
Tr'e meritocracy an( free(om to choose career paths
!pport'nities to (e+elop an( hone lea(ership an( f'nctional capabilities
An entreprene'rial en+ironment where people can p'rs'e their (reams
Competiti+e compensation
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In a((ition, we follow a well8(efine( Rewar(s 6 Reco*nitions pro*ramme that perio(ically i(entifies
e2ceptional in(i+i('al an( team achie+ers amon* the +ario's b'siness f'nctions an( +erticals in the
Bro'p-
E3#etati!ns
At Reliane8 Anil %hir'bhai Ambani Bro'p, we enco'ra*e o'r collea*'es to take lea(ership, at allle+els of the or*ani0ation, an( participate in acceleratin* *rowth of o'r b'sinesses to b'il( aformi(able enterprise-
Lea%ers in Reliane8 Anil %hir'bhai Ambani Bro'p are e2pecte( to
Always keep the c'stomers. nee(s in min( an( constantly inno+ate
E2ec'te flawlessly an( with spee(
S'stain an( stren*then the *ro'p.s spirit of entreprene'rshipJtakin* ownership an( acco'ntability for
their actions
Le+era*e syner*ies to learn an( b'il( on the (i+erse e2periences an( skill sets of o'r +ario's
b'sinesses an( teams
Create a tr'e meritocracy with a per+asi+e commitment to transparent systems an( processes
%o all this with 'n3'estionable Inte*rity to ens're total compliance with the laws of the lan(-
C!re Values
S*are*!l%er Interest
7e +al'e the tr'st of sharehol(ers, an( keep their interests paramo'nt in e+ery b'siness (ecision we
make, e+ery choice we e2ercise
Pe!#le Care
7e possess no *reater asset than the 3'ality of o'r h'man capital an( no *reater priority than the
retention, *rowth an( well8bein* of o'r +ast pool of h'man talent
C!nsu"er F!us
7e rethink e+ery b'siness process, pro('ct an( ser+ice from the stan(point of the cons'mer so as to
e2cee( e2pectations at e+ery to'ch point
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Su)%i/isi!n !f Reliane Ca#ital
C!r#!rate Pr!file
CEO
Mr& P Nan%a-!#aljoine( Reliance Life Ins'rance Company Limite( as CE! on !ctober @th, 5::/ 8
the (ay the share hol(in* of A"# Sanmar was transferre( to Reliance Capital Bro'p-
#rior to this, he was with 4irla S'n Life Ins'rance as one of its fo'n(in* members- 7orkin* as Senior
ice8#resi(ent, he was responsible for (ri+in* the Alternate Channels, Bro'p Ins'rance an( #ensions.
b'sinesses-
"r- Nan(a*opal has o+er two (eca(es of e2perience in the financial ser+ices in('stry- Startin* fromAn(hra 4ank, he mo+e( on to BIC an( its s'bsi(iaries 8 New In(ia Ass'rance an( BIC Asset
"ana*ement 8 mana*in* +ario's assi*nments in finance, 'n(erwritin*, claims an( m't'al f'n(
marketin*-
Later he shifte( to %S# "errill Lynch as =ea( of its Retail Sales Channels an( then to 4irla S'n Life
in 1>>>-
1;
Reliane Mutual Fun%
Reliane Ca#ital
Reliane Life Insurane Reliane 0eneral Insurane
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"r- "'ll brin*s with him 1@ years of e2perience ran*in* from cate*ories like F"CB to Life Ins'rance-
=e has spent a consi(erable part of his career in lea(in* companies s'ch as Ca(b'ry In(ia Lt(-, Coca8
Cola In(ia, an( Tata AIB Life Ins'rance Company Lt( in +ario's roles- As the ice8#resi(ent,
"arketin* at Tata AIB Life Ins'rance Company Limite(, he was responsible for b'il(in* the 4ran(,
Corporate "arketin*, #'blic Relations, Re*ional "arketin*, #ro('ct %e+elopment an( %irect
"arketin*-
=e has han(le( a combination of assi*nments at Coca8Cola incl'(in* marketin* properties thro'*h the
acti+ation of mo+ies, m'sic, sports an( celebrity tie8'ps after which he took o+er as the Senior 4ran(
"ana*er for Sprite an( Limca- After spen(in* o+er 5 years in Coca8Cola In(ia, he starte(
ApnaLoan-com as an entreprene'r alon* with fo'r professionals an( foc'se( on (irect marketin* an(
(istrib'tion s'pport online for financial ser+ices like cre(it car(s, home loans an( personal loans-
An Economics =onors *ra('ate from %elhi ni+ersity, he has (one his "asters in "ana*ement from
I"T, Bha0iaba(, with a speciali0ation in sales an( marketin*-
COO
Mr& 2&V& Srini/asanis the Chief !peratin* !fficer of Reliance Life Ins'rance Company Limite(-
In this assi*nment with Reliance Life Ins'rance, he hea(s the !perations, Finance, IT, Le*al 6
Secretarial (epartments-
"r- Srini+asan has a total of 1; years of e2perience prior to Reliance, 9 years in mana*ement
cons'ltin* with A- F- Fer*'son 6 Co-K @ years in treas'ry mana*ement with ITC Classic Finance, /
years in retail liabilities 6 assets with ICICI, 9 years in a*ency mana*ement with ICICI #r'(ential an(
9 years as a CF! with Citicorp Finance-
=e has complete( his *ra('ation in Commerce =onsD from St- a+ier.s Colle*e, Calc'tta an( then
speciali0e( in ACA, ACS, an( #B%" from II" Ahme(aba(-
Vie Presi%ent 5 0r!u# Infrastruture
Mr& 2& Sures* (a)uis the ice #resi(ent Bro'p Infrastr'ct're at Reliance Life Ins'rance Company
Limite( an( hea(s 4ranch E2pansion an( Bro'p Infrastr'ct're-
S'reshbab' has more than 5/ years of e2perience in the financial ser+ices in('stry- #rior to joinin* this
company, he was =ea( !perations 6 Compliance in Reliance "'t'al F'n( for o+er 9 years, before
which he was hea(in* Client Ser+ices 6 !perations in &F "'t'al F'n(, "or*an Chase for o+er 9
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years- =e has o+er 1; years e2perience in In(ian 4ank an( In(bank "erchant 4ankin* Ser+ices Lt(-, a
s'bsi(iary of In(ian 4ankK in "erchant 4ankin* an( Commercial 4ankin*-
S'reshbab' has (one his post *ra('ation in Commerce from !smania ni+ersity with a speciali0ation
in In('strial Finance 8 CIF from In(ian Instit'te of 4ankers- - =e is also a Certifie( Associate from the
In(ian Instit'te of 4ankers-
A##!inte% Atuar$
"s- #o'rnima B'pte is the Appointe( Act'ary at Reliance Life Ins'rance Company Limite( an( hea(s
the Act'arial %epartment-
Appointe( Act'ary is the position create( by the IR%A Act- Tho'*h Appointe( Act'ary happens to be
an employee of the Company, heshe acts as pro2y of the Re*'lator an( ens'res that the pro+isions of
the +ario's acts s'ch as IR%A Act, Ins'rance Act etcD are complie( with- !n one han(, she has to
protect the lon* term interests of the policyhol(ers an( on the other, protect the interests of the
sharehol(ers while complyin* with the +ario's controlsrestrictions impose( by the Ins'rance
Re*'latory an( %e+elopment A'thority- To comply with her le*al obli*ations, the Appointe( Act'ary
enjoys the pri+ile*e of atten(in* the 4oar( meetin*s as a re3'irement of the rele+ant law-
"s- B'pte has 59 years of past e2perience in the Life Ins'rance in('stry- This incl'(es 5: years at Life
Ins'rance Corporation of In(ia at +ario's senior le+els incl'(in* fo'r years (ep'tation as a "ana*er at
Lon(on 4ranch !ffice in the O- She has also worke( as the Chief "ana*er Act'arial, at Ootak
"ahin(ra Life Ins'rance Company an( Associate ice #resi(ent, Act'arial at 4ajaj Allian0 Life
Ins'rance Company-
A *ra('ate in Statistics, she is also a Fellow of Act'arial Society of In(ia FASID-
C*ief In/est"ent Offier
Mr& R Ran-ara7anis the Chief In+estment !fficer at Reliance Life Ins'rance Company Limite( an(
hea(s the in+estment f'nction- The objecti+e of the In+estment team is to *i+e best possible ret'rn on
in+estments, keepin* in +iew the risk appetite of theSharehol(ers an( #olicyhol(ers-
=e was workin* with A"# Sanmar Life Ins'rance as =ea( In+estments for the last three years- =e
has a total work e2perience of more than 5/ years mostly in the in+estment area- =is earlier assi*nment
was with a lar*e "'t'al F'n( or*ani0ation-
=e is a 3'alifie( Chartere( Acco'ntant-
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Hea% 5 HR
Ms& Manees*a T*a4urhea(s the ='man Reso'rces %epartment at Reliance Life Ins'rance CompanyLimite(-
In this role, "s- Thak'r is responsible for (e+elopin* a performance (ri+en c'lt're an( ens'rin*
manpower a+ailability as per b'(*ete( n'mbers with re3'ire( competencies- She is also workin* on
increasin* me(ia presence in people relate( areas by positionin* key hires an( social initiati+es at local
le+els- She has also 'n(ertaken marketin* an( bran(in* campai*ns for key =R initiati+es- !ne of the
most challen*in* tasks for her is to b'il( or*ani0ational8people capabilities an( (e+elopin* lea(ers
"s- Thak'r has a total work e2perience of 1/ years an( has worke( with companies like S=CIL,
ALLTEL, Transamerica, ICICI 4ank an( SNL-
=a+in* complete( her post *ra('ation in En*lish Literat're, she has also (one #B% 8 #"6IR from
LRI &amshe(p'r in 1>>1-
A)!ut Reliane Mutual Fun%
Reliance "'t'al F'n( R"FD has been establishe( as a tr'st 'n(er the In(ian Tr'sts Act, 1;;5 with
Reliance Capital Limite( RCLD, as the SettlorSponsor an( Reliance Capital Tr'stee Co- Limite(
RCTCLD, as the Tr'stee-R"F has been re*istere( with the Sec'rities 6 E2chan*e 4oar( of In(ia SE4ID +i(e re*istration
n'mber "F:55>/1 (ate( &'ne 9:, 1>>/- The name of Reliance Capital "'t'al F'n( has been
chan*e( to Reliance "'t'al F'n( effecti+e 11th- "arch 5::@ +i(e SE4IPs letter no-
I"%#S#@>/;5::@ (ate 11th- "arch 5::@- Reliance "'t'al F'n( was forme( to la'nch +ario's
schemes 'n(er which 'nits are iss'e( to the #'blic with a +iew to contrib'te to the capital market an(
to pro+i(e in+estors the opport'nities to make in+estments in (i+ersifie( sec'rities-
T*e "ain !)7eti/es !f t*e Trust are+
To carry on the acti+ity of a "'t'al F'n( as may be permitte( at law an( form'late an( (e+ise +ario's
collecti+e Schemes of sa+in*s an( in+estments for people in In(ia an( abroa( an( also ens're li3'i(ity
of in+estments for the nit hol(ersK
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To (eploy F'n(s th's rose so as to help the nit hol(ers earn reasonable ret'rns on their sa+in*s an( to
take s'ch steps as may be necessary from time to time to reali0e the effects witho't any limitation-
A)!ut Reliane 0eneral InsuraneF'n(amentals of Beneral Ins'rance companies are b'siness ho'ses- The pro('ct they sell is financial
protection- To s'ccee( an( s'r+i+e, they m'st co+er their costs, which incl'(e payments to co+er the
losses of policyhol(ers, as well as sales an( a(ministrati+e e2penses, ta2es an( (i+i(en(s- Ins'rance
companies ha+e two so'rces of income for co+erin* these costs? premi'm an( in+estment income- The
premi'm are collecte( on a re*'lar basis an( in+este( in Bo+ernment 4on(s, Bift stocks, m't'al f'n(s,
real estates an( other conser+ati+e a+en'es- =owe+er, in+estment income (epen(s on market
con(itions, interest rates, economy etc an( +aries from year to year- 4eca'se of the 'ncertainty
associate( with the in+estment income, ins'rance companies m'st *enerate eno'*h income form
premi'm to co+er the b'lk of their e2penses-
The primary f'nction of ins'rance is to pro+i(e protection a*ainst financial losses ca'se( by
'nforeseen e+ents- This protection is a+ailable to in(i+i('als, b'sinessmen an( lar*e companies alike-
Meanin- !f Ris48Insurane
Ins'rance is a contract whereby, in ret'rn for the payment of premi'm by the ins're(, the ins'rers pay
the financial losses s'ffere( by the ins're( as a res'lt of the occ'rrence of 'nforeseen e+ents- The term
)risk is 'se( to (escribe all the acci(ental happenin*s, which pro('ce a monetary loss-
Ins'rance is a metho( in which a lar*e n'mber of people e2pose( to a similar risk make contrib'tions
to a common f'n( o't of which the losses s'ffere( by the 'nfort'nate few, ('e to acci(ental e+ents, are
ma(e *oo(- The sharin* of risk amon* lar*e *ro'ps of people is the basis of ins'rance- The losses of an
in(i+i('al are (istrib'te( o+er a *ro'p of in(i+i('als-
The risk becomes ins'rable if the followin* re3'irements are complie( with?
The ins're( m'st s'ffer financial loss if the risk operates-
The loss m'st be meas'rable in money,
The object of the ins'rance contract m'st be le*al-
The ins'rer sho'l( ha+e s'fficient knowle(*e abo't the risks he accepts-
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Mana-e"ent Tea" !f Reliane 0eneral Insurane
C*ief E3euti/e Offier 2 A S!"ase4*aranC*ief Finanial Offier (i#in 2a)ra
Un%er,ritin- an% Ris4 Mana-e"ent Mu4ul 2is*!re
C*ief Te*n!l!-$ an% O#erati!ns Offier Srira" Na-anat*an
Hu"an Res!ures Pras*ant Utre7a
C!"#an$ Seretar$ M!*an 2*an%e4ar
De#art"ent
Retail Mar4etin- Sau-ata C*atter7ee
A-en$ . (r!4ers Relati!ns Man!7 S C*au*an
Lar-e C!r#!rates P!!na" San%*u
S"all an% Me%iu" Enter#rise 0r!u# Ar*ana Ya%a/
Clai"s Su#rati4 (is,as
Pr!%uts He"alat*a C*an%rase4*ar
Te*nial Ins#eti!n Anil 2 2*anna
Internati!nal Relati!ns Dili# Sin*a
A)!ut Reliane M!ne$
Reliance "oney is an En(ea+o'r to chan*e the way In(ia tra(es in financial markets an( a+ails of
+ario's financial ser+ices- Reliance "oney ens'res ma2im'm sec'rity with a 'ni3'e sec'rity token to
keep yo'r online acco'nt safe-
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RELIANCE LIFE PRODUCTS
It offers nee( base( life ins'rance to sol'tions to in(i+i('als an( corporate In(i+i('alD-
E"#l!$ee (enefit
Reliane 0r!u# 0ratuit$ #!li$
In this policy, the in+estment risk in in+estment portfolio is borne by the policy hol(er
The In(ian Bo+ernment intro('ce( the #ayment of Brat'ity Act in 1>
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0r!,t* Fun%+
The in+estment objecti+e of the Browth f'n( is to pro+i(e policyhol(ers with in+estment ret'rns which
e2cee( the rate of inflation in the lon* term while maintainin* a mo(erate probability of ne*ati+e
in+estment ret'rns- The c'rrent asset allocation limits are :G min in Bo+ernment sec'rities, corporate
bon(s an( bank (eposits 6 @:G ma2 in E3'ities- Time hori0on Lon*, Risk Le+el "e(i'm8=i*h,
Le+el of e2pecte( ret'rns 8 "e(i'm
Unit Priin-+
The 'nit price of each f'n( will be calc'late( on a (aily basis- nit al'e Total "arket al'e of
assets pl'sless e2penses inc'rre( in the p'rchasesale of assets pl's C'rrent Assets pl's any accr'e(
income net of f'n( mana*ement char*es less C'rrent Liabilities less #ro+ision
Total N'mber of 'nits on iss'e before any new 'nits are allocate( re(eeme(D
The 'nit pricin* shall be comp'te( base( on whether the company is p'rchasin* appropriation priceD
or sellin* e2propriation priceD the assets in or(er to meet the (ay to (ay transactions of 'nit allocations
an( 'nit re(emptions i-e- the company shall be re3'ire( to sellp'rchase the assets if 'nit
re(emptionsallocations e2cee( 'nit allocationsre(emptions at the +al'ation (ate-
The Appropriation price shall apply in a sit'ation when the company is re3'ire( to p'rchase the assets
to allocate the 'nits at the +al'ation (ate as state( abo+e- This shall be the amo'nt of money that the
company sho'l( p't into the f'n( in respect of each 'nit it allocates in or(er to preser+e the interests of
the e2istin* 'nit hol(ers
The E2propriation price shall apply in a sit'ation when the company is re3'ire( to sell assets to re(eem
the 'nits at the +al'ation (ate as state( abo+e- This shall be the amo'nt of money that the company
sho'l( take o't of the f'n( in respect of each 'nit it cancels in or(er to preser+e the interests of the
contin'in* 'nit hol(ers-
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All!ati!n !f units+
The company applies premi'ms to allocate 'nits in one or more of the 'nit8linke( f'n(s in the
proportions which the policyhol(er specifies- In case of New 4'siness, 'nits shall only be allocate( on
the (ay the proposal is complete( an( res'lts into a policy by the application of money towar(s
premi'm- In the case of renewal premi'ms, the premi'm will be a(j'ste( on the ('e (ate, whether or
not it has been recei+e( in a(+ance- This ass'mes that the f'll stip'late( premi'm is recei+e( on the
('e (ate-D
In respect of premi'ms recei+e( or f'n(s switche( 'p to @-1/ p-m- by the company alon* with a local
che3'e or a (eman( (raft payable at par at the place where the premi'm is recei+e(, the closin* NA
of the (ay on which the premi'm is recei+e( or f'n(s switche(, shall be applicable- In respect of
premi'ms recei+e( after @-1/ p-m- by the company alon* with a local che3'e or a (eman( (raft
payable at par at the place where the premi'm is recei+e(, the closin* NA of the ne2t b'siness (ay
shall be applicable-
In respect of premi'ms recei+e( with o'tstation che3'es or (eman( (rafts at the place where the
premi'm is recei+e(, the closin* NA of the (ay on which che3'es (eman( (raft is reali0e( shall be
applicable-
Re%e"#ti!ns
In respect of +ali( applications recei+e( e-*- s'rren(er, benefit payment, switch o't etcD 'p to @-1/
p-m- by the ins'rer, the same (ay.s closin* NA shall be applicable- In respect of +ali( applications
recei+e( e-*- s'rren(er, benefit payment, switch o't etcD after @-1/ p-m- by the ins'rer, the closin*
NA of the ne2t b'siness (ay shall be applicable- The NA for each se*re*ate( f'n( pro+i(e( 'n(er
this pro('ct shall be ma(e a+ailable to the p'blic in the print me(ia on a (aily basis- The NA will also
be (isplaye( in the web portal of the company-
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(enefits un%er t*e Plan
The e2act benefits for a scheme 'n(er this #lan will (epen( on the in(i+i('al employer.s *rat'ity
scheme- Benerally, the contin*encies for benefit payment an( the benefit le+el will be as *i+en below?
%eath of employee in ser+ice past ser+ice *rat'ity pl's ins're( (eath benefit amo'nt
%isability of employee in ser+ice 8 past ser+ice *rat'ity
Retirement of employee past ser+ice *rat'ity
Resi*nation early termination of ser+ice of the employee? past ser+ice *rat'ity
Surren%er !f P!li$
If the employer tr'stees (eci(e to s'rren(er their policy, Reliance Life Ins'rance Company Lt(- will
pay a s'rren(er benefit e3'al to the f'n( +al'e min's the s'rren(er char*es, if any-
All benefits, e2cept for ins're( (eath benefit amo'nt, shall be payable by cancelin* 'nits at the
pre+ailin* 'nit price- The liability of the ins'rer for a scheme will be limite( to the f'n( +al'e pl's the
ins're( (eath benefit amo'nt 'n(er the scheme-
Dis!ntinuane !f Insurane Pre"iu" #a$"ent
A policy shall lapse if ins'rance #remi'ms alon* with Brat'ity Contrib'tions are not pai( within the
*race perio( of 9: (ays-n(er a lapse( policy, the life co+er will contin'e- The ins'rance premi'm will
be collecte( by cancelin* 'nits- The policy will contin'e to participate in the performance of 'nit f'n(s
chosen by the policyhol(er-
If the policy is not re+i+e( within the perio( of re+i+al of / years from the ('e (ate of the first 'npai(
premi'm, the s'rren(er +al'e, if any will be pai( at the en( of perio( allowe( for re+i+al an( the
contract will be terminate(-
Re/i/al !f %is!ntinue% #!li$
A policyhol(er may re+i+e a policy by recommencin* the payment of ins'rance premi'ms alon* with
Brat'ity contrib'tions at any time within a perio( of / years from the ('e (ate of first 'npai( ins'rance
premi'm
#ayment of *rat'ity liability contrib'tions alon* with ins'rance premi'm
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For a newly set 'p *rat'ity tr'st, the past ser+ice *rat'ity liability contrib'tion can be pai( either in a
l'mp s'm or in installments sprea( o+er not more than / years- For an e2istin* scheme, the ann'al
*rat'ity liability contrib'tions alon* with ins'rance premi'm can be pai( either in yearly or half8yearly
or 3'arterly or monthly installments-
Insurane Pre"iu"+
It means the amo'nt payable to keep the ins're( (eath benefit in force- It will (epen( on the attaine(
a*e at start of policy year, the amo'nt of ins're( (eath benefit an(
!cc'pation class-
0rae Peri!%
There is a *race perio( of 9: (ays from the ('e (ate for the payment of the ins'rance premi'm alon*
with *rat'ity contrib'tions- If ins'rance premi'm alon* with *rat'ity contrib'tion is payable monthly,
the *race perio( will be 1/ (ays from the ('e (ate-
S,it*in- . C!ntri)uti!n re%ireti!n?
Transferrin* switchin*D assets from one in+estment f'n( to another can be (one at any time- $o' can
make 'p to fo'r switches free of char*e each year- $o' may also re(irect past ser+ice *rat'ity liability
contrib'tions in f't're to a (ifferent asset mi2- The fle2ibility is yo'rs-
C*ar-es
F'n( "ana*ement Char*es F'n( Char*e G of f'n(s 'n(er mana*ementD
Capital Sec're F'n( :-
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S,it*in- *ar-es
Transferrin* switchin*D from one in+estment f'n( to another can be (one at any time- $o' can make
'p to fo'r switches free of char*e each year- Any switch abo+e this will attract a char*e of :-1G of the
switche( amo'nt s'bject to minim'm of Rs-1::: per switch an( ma2im'm of Rs-/::: per switch- This
char*e is reco+ere( by cancelin* 'nits-
S'rren(er char*es $ear $ear 1 $ear 5 $ear 9 $ear @ $ear / $ear !nwar(s
Char*eG of f'n( +al'eD /G @G 9G 5G 1G NIL
These char*es are le+ie( only if the employer tr'stees (eci(e to s'rren(er the policy with Reliance
Life Ins'rance Company Limite(-
Suii%e Clai" #r!/isi!ns
In case of a claim where a member has committe( s'ici(e within 15 months from the (ate of inception
of the scheme, whether sane or insane at that time, the company will limit the (eath benefit to the past
ser+ice *rat'ity benefit which will be pai( from the 'nit8linke( f'n( of the schemeD, an( will not pay
any ins're( (eath benefit
Pa$"ent !f ta3es' sta"# %uties
7e will (e('ct from benefitsins'rance premi'mcontrib'tion any ta2es, ('ties or s'rchar*es of
whate+er (escription where le+ie( by any stat'tory a'thority-
Reliane 0r!u# Ter" Assurane P!li$
W*at is Reliane 0r!u# Ter" Assurane P!li$9
Reliance Bro'p Term Ass'rance #olicy is a one year Renewable Term Ass'rance contract- The benefit
is payable on the happenin* of the contin*ency ('rin* one year- At the en( of the year, the contract
may be renewe(-
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If it later t'rns o't that an incorrect e2perience ref'n( has been pai(, the policy owner m'st pay any
amo'nt owe( to 's- Also, we may re('ce the amo'nt we pay 'n(er any claim to reflect any amo'nt the
policy owner owes-
W*$ ta4e t*is #!li$9
Impro+e( =R beca'se the benefit has +al'e to the employee
Replacement of l'mp s'm payments with re*'lar premi'ms accelerates ta2 relief
Stat'tory compliance if 'se( to replace ins'rance co+er 'n(er the #ro+i(ent F'n( Act
W*at %! $!ur e"#l!$ees -et9
Co+era*e at rates lower than applicable to in(i+i('al li+es
Simplifie( proce('res for ins'rability8 limite( or no me(ical tests
W*en )enefits are n!t #a$a)le9
7e (o not pay the (eath benefit 'n(er this policy if the Ins're( #erson, whether sane or insane, (ies by
his or her own han(, within 15 months from the (ate on which his or her co+er commence(-
7e (o not pay the (isability benefit 'n(er this policy which is ca'se(, (irectly or in(irectly, by?
En*a*in* in another occ'pation, 'nless the same has been a*ree( 'pon by 'sK orIntentional self inj'ry or illness whether wholly or partlyDK or
#articipation in any criminal or ille*al actK or
4ein* 'n(er the infl'ence of alcohol or (r'*s e2cept 'n(er (irection of a re*istere( me(ical
practitionerK or
Racin* or practicin* racin* of any kin( other than on footK or
flyin* or attemptin* to fly in, or 'sin* or attemptin* to 'se, an aerial (e+ice of any (escription, other
than as a fare payin* passen*er on a reco*ni0e( airline or charter ser+iceK or
#articipatin* in any riot, strike or ci+il commotion, acti+e military, na+al, air force, police or similar
ser+iceK or
7ar, in+asion, act of forei*n enemies, hostilities or war like operations whether war be (eclare( or
notD, ci+il war, m'tiny, military risin*, ins'rrection, rebellion, military or 's'rpe( power or any act of
terrorism or +iolence-
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Aut!"ati C!/er ,ill a##l$ t!+
All Ins're( #ersons who are At 7ork on the (ate of commencement of the policyK an(
all of the Employer.s permanent employees who are first eli*ible to become an Ins're( #erson on or
after the (ate of commencement of the policy an( who apply to be an Ins're( #erson within 9 months
of first becomin* eli*ible, an( who are At 7ork on the (ate they first apply-
#ro+i(e( that the persons in aD an( bD abo+e? are 'p to a*e :K
ha+e not been absent from work ('e to sickness or inj'ry for more than 9 weeks in either of the 5 years
prior to the (ate on which they are eli*ible to be ins're( 'n(er the #olicyK
ha+e joine( the employer before attainin* a*e //-
Li+es with co+er abo+e the a'tomatic co+er limits applicable to the *ro'p, will be 'n(erwritten an(
s'bstan(ar( li+es with me(ical con(itions an( other impairments will be 'n(erwritten as per the
'n(erwritin* man'al- The basis of 'n(erwritin* will be the f'll amo'nt of co+er, incl'(in* 'p to the
a'tomatic co+er limit-
H!, ,ill t*e #lan )e a%"inistere%9
7e will (epen( on yo' to pro+i(e 's with (etails of the li+es co+ere( 'n(er the policy, in a m't'ally
a*reeable format, showin* for each member (etails like name, i(entity n'mber, (ate of birth, male
female, (ate of joinin*, salary, if absent from work, reason for the same, benefit amo'nt or form'la for
each type of benefit-
7e will nee( this information at the start of the policy an( at e+ery ann'al renewal (ate- 7e will also
ha+e to be informe( abo't any chan*es to the membership of the *ro'p of li+es co+ere(, ('rin* the
year-
SECTION :; OF THE INSURANCE ACT' ; STATES
No person shall allow or offer to allow, (irectly or in(irectly, as an in('cement to any person to take
o't or renew or contin'e an ins'rance in respect of any kin( of risk relatin* to li+es or property in
In(ia, any rebate of the whole or part of the commission payable or any rebate of the premi'm shown
on the policy, nor shall any person takin* o't or renewin* or contin'in* a policy accept any rebate,
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e2cept s'ch rebate as may be allowe( in accor(ance with the p'blishe( prospect'ses or tables of the
ins'rer-
Any person makin* (efa'lt in complyin* with the pro+isions of this section shall be p'nishable with
fine which may e2ten( to fi+e h'n(re( r'pees-
SECTION :? OF THE INSURANCE ACT' ; STATES
No policy of life ins'rance effecte( before the commencement of this Act shall after the e2piry of
two years from the (ate of commencement of this Act an( no policy of life ins'rance effecte( after the
comin* into force of this Act shall after the e2piry of two years from the (ate on which it was effecte(,
be calle( in 3'estion by an ins'rer on the *ro'n( that a statement ma(e in the proposal for ins'rance or
in any report of a me(ical officer, or referee, or frien( of the ins're( or in any other (oc'ment lea(in*
to the iss'e of the policy, was inacc'rate or false, 'nless the ins'rer shows that s'ch statement was on a
material matter or s'ppresse( facts which it was material to (isclose an( that it was fra'('lently ma(e
by the policy hol(er an( that the policy hol(er knew at the time of makin* it that the statement was
false or that it s'ppresse( facts which it was material to (isclose-
#ro+i(e( that nothin* in this section shall pre+ent the ins'rer from callin* for proof of a*e at any
time if he is entitle( to (o so, an( no policy shall be (eeme( to be calle( in 3'estion merely beca'se
the terms of the policy are a(j'ste( on s'bse3'ent proof that the a*e of the life ins're( was incorrectly
state( in the proposal-
Reliane 0r!u# Su#erannuati!n P!li$
)In this #olicy, the in+estment risk in in+estment portfolio is borne by the #olicy hol(er
Ens're a comfortable retirement for yo'r corporate family-
W*$ s*!ul% $!u !nsi%er t*e Reliane 0r!u# Su#erannuati!n P!li$9
As an employer yo' c'rrently contrib'te 15G of each employeePs salary into the Employees #ro+i(ent
F'n( Scheme- =owe+er, is this s'fficient to pro+i(e for an a(e3'ate retirement income for yo'r
employeesQ
The answer to this 3'estion is 'nfort'nately, N!-
&
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=& 0r!,t* Fun%+
The in+estment objecti+e of the Browth F'n( is to pro+i(e #olicyhol(ers with in+estment ret'rns
which e2cee( the rate of inflation in the lon*8term while maintainin* a mo(erate probability of
ne*ati+e in+estment ret'rns- The asset allocation limits 'n(er the f'n( are :G minim'm in
Bo+ernment Sec'rities, Corporate 4on(s an( 4ank %eposits 6 @:G ma2im'm in E3'ities-
S,it*in-+
Transferrin* switchin*D assets from one In+estment F'n( to another can be (one at any time- $o' can
make 'p to fo'r switches free of char*e each year- $o' may re(irect f't're contrib'tions to a (ifferent
asset mi2- The fle2ibility is yo'rs-
Fle3i)le )enefit %esi-n+
$o' can ha+e a +ariety of contrib'tion le+els, (efine benefit accr'als, an( (ifferent eli*ibility perio(s8
when benefits are pai(-
n(er %efine( Contrib'tion schemes, yo'r employees can also make personal
Contrib'tion by nominatin* a percenta*e of their salary wa*e an( contrib'tion can be pai( either as a
re*'lar pay (e('ction or as a l'mp s'm payment- This facility will be a+ailable where separate
acco'nts are maintaine( for each member-
Employees with S'perann'ation 4enefits from former employer plans can transfer these benefits into
yo'r Bro'p S'perann'ation #olicy-
Dis!ntinuane !f %ue !ntri)uti!ns+
The contrib'tions can be pai( monthly, 3'arterly, half yearly or yearly- There is a *race perio( of 9:
(ays 1/ (ays if the contrib'tions are pai( monthlyD for the payment of contrib'tions-
If the payment of contrib'tions is (iscontin'e( within 9 years from the inception of the #olicy, the
#olicyhol(er can re+i+e the #olicy within the perio( of re+i+al allowe(- The #olicy will contin'e to
participate in the performance of the f'n( chosen by the #olicyhol(er ('rin* this perio(- If the #olicy
is not re+i+e( ('rin* the perio( of re+i+al, the #olicy will be terminate( an( the S'rren(er al'e if any
shall be at the en( of the allowe( perio( of re+i+al-
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If the payment of contrib'tions is (iscontin'e( after payin* the contrib'tions for at least three
consec'ti+e years, the #olicyhol(er can re+i+e the #olicy within the perio( of re+i+al allowe(- The
#olicy will contin'e to participate in the performance of the f'n( chosen by the #olicyhol(er- If the
#olicy is not re+i+e( ('rin* the perio( of re+i+al, the #olicy will be terminate( an( the S'rren(er
al'e, if any shall be pai( at the en( of the allowe( perio( of re+i+al- =owe+er, when the F'n( al'e
reaches an amo'nt e3'al to
!ne f'll year.s contrib'tion, the Contract shall be terminate( by payin* the F'n( al'e-
The #olicyhol(er may re+i+e the #olicy at anytime ('rin* fi+e years from the (ate of first 'npai(
contrib'tion by re8commencin* the payment of contrib'tions-
C*ar-es
Mana-e"ent C*ar-es Fun%
Fun% Char*e G of f'n( +al'eD
Capital Sec're F'n( 1-/:G pa char*e( (aily
4alance( F'n( 1-/:G pa char*e( (aily
Browth F'n( 1-
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S'rren(er char*es $earChar*e G of F'n( al'eD
$ear 1 /G
$ear 5 @G
$ear 9 9G
$ear @ 5G
$ear / 1G
$ear NIL
In%i/i%uals #lans
Reliance offers 1 in(i+i('al.s plans- These are?
1- Reliance A'tomatic In+estment #lan
5- Reliance "oney B'arantee #lan
9- Reliance En(owment #lan
@- Reliance Special En(owment #lan
/- Reliance Cash Flow #lan
- Reliance Chil( #lan
- Reliance Bol(en $ears #lan al'e
1:- Reliance Bol(en $ears #lan #l's
11- Reliance "arket Ret'rn #lan
15- Reliance Term #lan
19- Reliance Simple Term #lan
1@- Reliance Special Term #lan
1/- Reliance Cre(it B'ar(ian #lan
1- Reliance Special Cre(it B'ar(ian #lan1
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Reliane Aut!"ati In/est"ent
The Key benefits of Reliance Automatic Investment Plan are as follows
A smart plan which a(apts to yo'r chan*in* risk profile with increasin* a*e
!ption to lower the a+era*e cost of 'nits thro'*h systematic transfer of yo'r f'n(s
Fle2ibility to switch between f'n(s an( plans
!ptions for a((itional Ins'rance co+er a+ailable thro'*h ri(ers
Key !eatures Reliance Automatic Investment Plan
Two plan options to choose from Rea(y8ma(e an( Tailor8ma(e
Life Sta*e asset allocation to ens're a'tomatic chan*e in in+estment patterns, 'n(er the Rea(y8
ma(e #lan option
Free(om to (eci(e yo'r own f'n( mi2 base( on yo'r risk profile 'n(er the Tailor8ma(e #lan
Re*'lar, limite(, sin*le premi'm payin* options
nmatche( fle2ibility thro'*h o'r ME2chan*e !ption.
Li3'i(ity in the form of partial with(rawal
!ption to a+ail of Acci(ental %eath 4enefit, Acci(ental Total, #remi'm %isability an( Term
Ins'rance ri(ers
"ow #oes this Plan wor$%
As a c'stomer yo' will ha+e the liberty to choose between the Rea(y8ma(e an( Tailor8ma(e #lan
options- The premi'm contrib'tions ma(e by yo', net of #remi'm Allocation Char*es an( S'm
Ass're( Relate( Char*es are in+este( in f'n(f'n(s of yo'r choice an( 'nits are allocate( (epen(in*
on the price of 'nits for the f'n(f'n(s-
The F'n( al'e is the total +al'e of 'nits that yo' hol( in the f'n( f'n(s- The "ortality Char*es an(#olicy A(ministration Char*es are (e('cte( thro'*h cancellation of 'nits, whereas the F'n(
"ana*ement Char*e is price( in the nit al'e-
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Reliance Automatic Investment Plan at a &lance
Basic Plan 'inimum 'a(imum
A*e at Entry 9: (ays / years last birth(ay
A*e at "at'rity 1; years last birth(ay ;: years last birth(ay
#remi'm #ayin*
Term
/ years 9: years
"in S'm Ass're( Re*'lar Limite( #remi'm? Ann'ali0e( #remi'm for / years or Ann'alise(
#remi'm for half of the policy term, whiche+er hi*her
Sin*le #remi'm 15/G of the sin*le premi'm amo'nt
"a2 S'm Ass're( No Limit
Benefit Illustration
To enable a better 'n(erstan(in* on how the plan works, please refer to the below table for Re*'lar#remi'm-
A&e of the customer 9: 9/ @: @/
Annual Premium Pai# 5/,::: 5/,::: 5/,::: 5/,:::
Policy Term 1/ 1/ 1/ 1/
Premium Payin& Term 1/ 1/ 1/ 1/
)um Assure# 1,;
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$es, itPs a trio the pace setter plan, which promises Life #rotection, an opport'nity to *ain control o+er
yo'r in+estments alon* with protection of (ownsi(e riskU
For the select few like yo', the Reliance "oney B'arantee #lan is a nit Linke( pro('ct a((ressin*
comprehensi+e nee( to strike that perfect balance of #rotection an( Sa+in*s, that yo' (eser+e as yo'
*row s'ccessf'lly- The Reliance "oney B'arantee #lan is a Re*'lar #remi'm nit Linke( #olicy
which *'arantees the entire premi'm incl'(in* premi'ms for top8 'psD pai( by yo'- This is a plan
which helps yo' reap all the benefits of a risin* market sim'ltaneo'sly protectin* yo' from the
(ownsi(e risk of the market-
Key !eatures
Capital B'arantee the s'm of all premi'ms pai( is *'arantee( on mat'rity or on (eath before themat'rity-
Capital B'arantee is a+ailable on both the basic premi'ms as well as on top8'p premi'ms
ni3'e Ret'rn Shiel( feat're to protect yo'r ret'rns
Choice to in+est from 9 pre8packa*e( in+estment f'n( options
nmatche( fle2ibility thro'*h o'r ME2chan*e !ption. to mo+e between the Reliance "oney B'arantee
s'ites of pro('cts offere(, as yo' *row 'p the la((er
Li3'i(ity in the form of partial with(rawals from top8'p f'n(
!ption to packa*e with Acci(ental %eath 6 %isability an( Term Ins'rance ri(ers
"ow #oes this Plan wor$%
The premi'm contrib'te( by yo' net of #remi'm Allocation Char*es an( "iscellaneo's Char*e is
in+este( in f'n( option of yo'r choice for a specifie( perio( of time as selecte( by yo' an( 'nits are
allocate( (epen(in* on the price of 'nits for the f'n(f'n(s- The F'n( al'e is the total +al'e of 'nits
that yo' hol( in the f'n(- The #olicy has a minim'm B'arantee( F'n( al'e which is e3'al to total of
all premi'ms pai( e2cl'(in* any a((itional an( e2tra premi'ms if anyD, to be payable on s'r+i+al to
mat'rity or earlier (eath- The amo'nt of top8'p premi'ms pai( is also *'arantee( on (eath pro+i(e(
there is no partial with(rawal- The amo'nt of top8'ps premi'm is *'arantee( on mat'rity pro+i(e( the
top8'ps premi'm was pai( at least 1: years before the (ate of mat'rity an( there is no partial
with(rawal- The S'm Ass're( 'n(er the #olicy is fi2e( on the basis of the selecte( ann'al premi'm
an( #olicy Term-
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The "ortality Char*es an( #olicy A(ministration Char*es are (e('cte( thro'*h cancellation of 'nits
whereas the F'n( "ana*ement Char*e is price( in the nit al'e- The premi'ms for ri(ers, if selecte(,
are payable o+er an( abo+e the premi'm for the basic #olicy-
Benefits in 3etails
Ca#ital 0uarantee+The plan offers Capital B'arantee pro+i(e( the #olicy is kept in f'll force by
payment of ('e premi'ms on time-
Ca#ital 0uarantee un%er t*e (asi Plan+ #remi'ms pai( 'n(er the 4asic #lan are *'arantee( on the
mat'rity of the #olicy or on (eath ('rin* the #olicy Term-
Ca#ital 0uarantee un%er t*e T!#1U# #re"iu"s:Each top8'p premi'm pai( is *'arantee( on (eath
('rin* the #olicy Term pro+i(e( there are no partial with(rawals from that top8'p-Each top8'p premi'm pai( is *'arantee( on mat'rity of the #olicy pro+i(e( the #olicy Term is *reater
than ten years, there are no partial with(rawals from that top8'p an( the top8'p was pai( ten years
before the mat'rity (ate-
Life C!/er (enefit+The amo'nt of %eath 4enefit (epen(s on the a*e of the Life Ass're( at the time
of (eath
If the a*e of the Life Ass're( at the time of (eath is more than 15 years last birth(ay while the #olicy is
in force, the Company will pay the s'm of?
=i*her of S'm Ass're(, F'n( al'e as on (ate of intimation of (eath 'n(er 4asic #lan, #remi'ms
pai( 'n(er the 4asic #lan e2cl'(in* any e2tra or a((itional premi'ms pai(-D
An(
=i*her of F'n( al'e as on (ate of intimation of (eath 'n(er top8 'ps an( top8'p premi'm pai(
pro+i(e( no partial with(rawal is ma(e from that top8'pD
=owe+er if the Life Ass're(Ps a*e at the time of (eath is less than or e3'al to 15 years last birth(ay
while the #olicy is in force, the %eath 4enefit will be the s'm of?
=i*her of F'n( al'e as on (ate of intimation of (eath 'n(er 4asic #lan an( premi'ms pai( 'n(er the
4asic #lan e2cl'(in* any e2tra or a((itional premi'ms pai(D
an(
=i*her of F'n( al'e as on (ate of intimation of (eath 'n(er top8 'ps an( top8'p premi'm pai(
pro+i(e( no partial with(rawal is ma(e from that top8'pD
The #olicy terminates on payment of the %eath 4enefit-
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Maturit$ (enefit+The "at'rity 4enefit is the s'm of =i*her of F'n( al'e 'n(er 4asic #lan an(
#remi'ms pai( 'n(er 4asic #lan e2cl'(in* any e2tra or a((itional premi'ms pai(D an( "at'rity
4enefit 'n(er Top8p
If #olicy Term is *reater than ten years, the "at'rity 4enefit 'n(er top8'p is the hi*her of F'n( al'e
'n(er the top8'p an( top8'p premi'm pai( pro+i(e( there is no partial with(rawal from that top8'pDIf
#olicy Term is ten years, the "at'rity 4enefit 'n(er the top8'p is the F'n( al'e 'n(er the top8'p- The
#olicy Terminates on payment of the "at'rity 4enefit- Su" assure%
The fi2e( S'm Ass're( 'n(er the 4asic #lan will be calc'late( as the amo'nt of ann'al premi'ms
payable for half the #olicy Term
Ri%er (enefit+$o' can a(( Acci(ental %eath 6 Acci(ental Total an( #ermanent %isablement 4enefit
Ri(er 6 Term Life Ins'rance 4enefit Ri(er-
4hat are the #ifferent fun# o0tions%
Fun%s a/aila)le in res#et !f (asi Plan an% t!#1u# #re"iu"
The plan offers three f'n(s for 4asic #lan an( top8'ps 8 F'n( %, F'n( E an( F'n( F- $o' ha+e the
option to (eci(e yo'r own f'n( mi2 with respect to premi'ms 'n(er the 4asic #lan an( top8'ps-
Fun%s a/aila)le in res#et !f Return S*iel% O#ti!n
Ret'rn Shiel( F'n( will be a+ailable if Ret'rn Shiel( !ption is selecte(- The ret'rns earne( 'n(er the
4asic #lan an( top8'ps will be transferre( to Ret'rn Shiel( F'n( if Ret'rn Shiel( option is selecte(-
Fun%s a/aila)le %urin- settle"ent #eri!%
If yo' ha+e opte( for the settlement option, then F'n( C wo'l( apply by (efa'lt ('rin* the settlement
perio(-
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The Asset Allocation an( in+estment objecti+e of each of the pre8packa*e( f'n(s is *i+en below?
Ty0e of !un# Investment Ob5ectives Asset Cate&oryAsset Allocation
Ran&e 6+7Tar&
6+
!un# 3 The in+estment objecti+e of F'n( % is to
pro+i(e in+estment ret'rns that e2cee( the
rate of inflation in the lon* term while
maintainin* mo(erate probability of
ne*ati+e ret'rns in the short term- The risk
appetite is (efine( as Pmo(erateP-
"oney "arket Instr'ments : 8 5: :%ebt Sec'rities s'ch as Bilts,
Corporate %ebte2cl'(in* "oney
"arket Instr'ments
: 8 1:: :
E3'ities: 8 @: @:
!un# E The in+estment objecti+e of F'n( E is to
pro+i(e, in the lon* term, ret'rns which are
si*nificantly hi*her than the inflation rate,
thro'*h hi*h e2pos're to e3'ity
in+estments, while reco*ni0in* that there is
some probability of ne*ati+e ret'rns in the
short term- The risk appetite is Pmo(erate to
hi*hP-
"oney "arket Instr'ments : 8 5: :
%ebt Sec'rities s'ch as Bilts,
Corporate %ebte2cl'(in* "oney
"arket Instr'ments
: 8 1:: /:
E3'ities : 8 /: /:
!un# ! The in+estment objecti+e of F'n(s is to
pro+i(e, in the lon* term, ret'rns which are
si*nificantly hi*her than the inflation rate,
thro'*h hi*h e2pos're to e3'ity
in+estments, while reco*ni0in* that there is
some probability of ne*ati+e ret'rns in the
short term- The risk appetite is Pmo(erate to
hi*hP-
"oney "arket Instr'ments : 8 5: :
%ebt Sec'rities s'ch as Bilts,
Corporate %ebte2cl'(in* "oney
"arket Instr'ments
: 8 1:: @:
E3'ities : 8 : :
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The Asset allocation an( In+estment !bjecti+e 'n(er the Return S*iel% Fun% is *i+en below?
Ty0e of !un# Investment Ob5ectives Asset Cate&oryAsset
AllocationRan&e 6+7
Tar&et6+7
Return )hiel# The in+estment objecti+e of the Ret'rn
Shiel( F'n( is to pro+i(e stea(y
in+estment ret'rns achie+e( thro'*h
1::G in+estment in %ebt Sec'rities,
while maintainin* mo(erate probability
of ne*ati+e ret'rns in the short term-
The risk appetite is (efine( as
Pmo(erateP-
"oney "arket
Instr'ments
: 8 5: 5:
Bo+ernment Sec'rities
an(. appro+e( sec'rities: 8 1:: @:
Corporate 4on(s an( other
%ebt Instr'ments: 8 : @:
The Asset Allocation an( In+estment !bjecti+e 'n(erFun% Cis *i+en below?
Ty0e of !un# Investment Ob5ectives Asset Cate&oryAsset
AllocationRan&e 6+7
Tar&et 6+7
!un# C The in+estment objecti+e of F'n( C is
to pro+i(e in+estment ret'rns that
e2cee(the rate of inflation in the lon*
term while maintainin* a low
probability of ne*ati+e ret'rnsin the
short term- The risk appetite is (efine(
as Plow to mo(erateP-
"oney "arket
Instr'ments
: 8 5: :
%ebt Sec'rities
s'ch as Bilts,
Corporate
%ebte2cl'(in*
"oney "arket
Instr'ments-
: 8 1:: ;:
E3'ities : 8 5: 5:
7hilst, e+ery attempt wo'l( be ma(e to attain tar*et le+els prescribe( abo+e, it may not be possible to
maintain the prescribe( )tar*et at all times owin* to market +olatility, a+ailability of market +ol'mes
an( other relate( factors
The )tar*et may be attaine( on a )best effort basis- =owe+er the Asset Allocation will always fall
within the Asset Allocation Ran*e mentione( in respect of each f'n(-
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Unit #riin- . Cut1!ff Ti"in-s
al'e of nits? The comp'tation of nit al'e will be base( on whether the Company is p'rchasin*
Appropriation #riceD or sellin* E2propriation #riceD the Assets in or(er to meet the (ay to (ay
transactions of nit Allocations an( nit Re(emptions i-e- the Company shall be re3'ire( to
sellp'rchase the Assets if nit Re(emptionsAllocations e2cee( nit AllocationsRe(emptions at the
al'ation %ate-
The nit #rice of each F'n( will be the nit al'e calc'late( on a (aily basis-
nit al'e
Total "arket al'e of Assets #l'slessD e2penses inc'rre( in the p'rchase saleD of
Assets pl's C'rrent Assets pl's any accr'e( income net of F'n( "ana*ement
Char*es less C'rrent Liabilities less #ro+ision
Total N'mber of 'nits on iss'e before any new 'nits are allocate(re(eeme(DD
Re#em0tions
In respect of +ali( applications recei+e( e-*- s'rren(er, mat'rity claim, switch o't etcD 'p to @-1/ p-m-
by the Ins'rer, the same (ayPs closin* NA shall be applicable-
In respect of +ali( applications recei+e( e-*- s'rren(er, mat'rity claim, switch etcD after @-1/ p-m- by
the Ins'rer, the closin* NA of the ne2t b'siness (ay shall be applicable-
!un# Valuation
The +al'e of the f'n( will be e3'al to the no of 'nits m'ltiplie( by the Net Asset al'e NAD of each
'nit in the f'n(-
The comp'tation of NA will be base( on whether the Company is p'rchasin* Appropriation #riceD
or sellin* E2propriation #riceD the Assets in or(er to meet the (ay to (ay transactions of nitAllocations an( nit Re(emptions i-e- the Company shall be re3'ire( to sellp'rchase the Assets if
nit Re(emptionsAllocations e2cee( nit AllocationsRe(emptions at the al'ation %ate-
The Appropriation #rice shall apply in a sit'ation when the Company is re3'ire( to p'rchase the Assets
to allocate the 'nits at the al'ation %ate- This shall be the amo'nt of money that the Company sho'l(
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p't into the f'n( in respect of each 'nit it allocates in or(er to preser+e the interests of the e2istin*
#olicyhol(ers
The E2propriation #rice shall apply in a sit'ation when the Company is re3'ire( to sell Assets to
re(eem the 'nits at the al'ation %ate- This shall be the amo'nt of money that the Company sho'l(
take o't of the f'n( in respect of each 'nit it cancels in or(er to preser+e the interests of the contin'in*
#olicyhol(ers
Fle3i)ilit$ a/aila)le un%er Reliane M!ne$ 0uarantee Plan
Return S*iel% an inn!/ati/e ,a$ t! #r!tet $!ur returns
This option is a+ailable to yo' ('rin* the term of the #olicy- $o' can select or (elete this option at any
time ('rin* the term of the #olicy-
There will not be any char*e for the Ret'rn Shiel( option 'n(er followin* circ'mstancesK
If the option is selecte( 'n(er 4asic #lan on commencement of the plan
If the option is selecte( 'n(er top8'p premi'm at the time of payment of top8'p premi'm
n(er all other circ'mstances, a fi2e( char*e of Rs1:: is payable e+ery time the Ret'rn Shiel( option
is selecte(-
If this option is selecte(, the ret'rn earne( on 4asic #lan an( Top8ps ('rin* the month will be
transferre( to Ret'rn Shiel( F'n( at the en( of the #olicy month- The operation of Ret'rn Shiel(
option 'n(er 4asic #lan is *i+en below?
The amo'nt of ret'rns to be transferre( to Ret'rn Shiel( F'n( will be (etermine( separately for each
#olicyhol(er in respect of each of the tree f'n(s %,E an( F F'n( The metho( 'se( for (eterminin* the
ret'rn to be transferre( is *i+en below ?
F'n( al'eD on the last workin* (ay of the #olicy month
Less F'n( al'e on last workin* (ay of the pre+io's #olicy month
Less amo'nt of inflows ('rin* the month
The operation of Ret'rn Shiel( option 'n(er top8'p premi'msD will be similar to that of 4asic #olicy-
The amo'nt will be transferre( to Ret'rn Shiel( F'n( at the pre+ailin* nit #rice-
E3*an-e O#ti!n+ This option is a+ailable for e2istin* #olicyhol(ers after completion of three #olicy
years from the (ate of commencement, n(er this option, the #olicy hol(er can transfer #olicy
4enefits s'rren(er, mat'rity etc-D either f'lly or partially to another plan- This option m'st be
e2ercise( at least 9: (ays before the (ate of receipt of benefit 'n(er the #olicy-- The Terms an(
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Con(itions as specifie( in the opte( #olicy %oc'ment wo'l( apply to the #olicy hol(er optin* for the
PE2chan*e !ptionP-
If a #olicyhol(er is optin* for the Reliance "oney B'arantee plan 'n(er e2chan*e option, the
Allocation Char*e in year of e2chan*e will be 1/ G of the ann'alise( premi'm of Reliance "oney
B'arantee #lan- If the E2chan*e !ption is 'se( to pay top8'ps in the "oney B'arantee #olicy, the
Allocation Char*e in the year e2chan*e will be 1G of the top 'p amo'nt-
Pa$ t!#1u#s+ If yo' ha+e recei+e( a bon's or some l'mp s'm money yo' can 'se that as a top8'p to
increase the in+estments component in yo'r #olicy- Top8'ps are allowe( only if all basic premi'ms ('e
till (ate are pai(- At any time, the ma2im'm amo'nt of all top8'p premi'ms allowe( is restricte( to
5/G of the total basic re*'lar premi'm pai( till (ate-
The minim'm top8'p premi'm amo'nt is Rs 5,/::- The amo'nt of top8'p premi'ms pai( is also
*'arantee( on (eath pro+i(e( there is no partial with(rawal- The amo'nt of top8'p premi'm is
*'arantee( on mat'rity pro+i(e( the top8'p premi'm was pai( 1: years before the (ate of mat'rity an(
there is no partial with(rawal ma(e from the top8'p f'n(-
Partial Wit*%ra,als+ These are allowe( for 'nits create( by top8'p premi'ms-
There is lock8in perio( of three years 'n(er the top8'ps from the (ate of payment of top8'ps ('rin*
which no partial with(rawal is allowe(- The lock8in perio( is not applicable to Top8'ps ma(e ('rin*
last three years of a #olicy- After partial with(rawal, the ori*inal Tranche of that partic'lar top8'p will
lose the Capital B'arantee- 7here Life Ass're( is minor, partial with(rawals will be allowe( only after
completion of a*e 1; years-
No partial with(rawals are allowe( for basic re*'lar premi'm f'n(s-
S,it*in- O#ti!n+ $o' can switch the whole or part of the f'n(s between f'n(s %, E, F at any time
('rin* the #olicy Term- $o' can also switch from Ret'rn Shiel( option to any one f'n( %, E an( F-
First fo'r switches in any #olicy year are free-
If Ret'rn Shiel( option is selecte( switchin* from any of the f'n(s %, E, F in to Ret'rn Shiel( option
will be (one at the en( of e+ery #olicy month- S'ch switches will not be co'nte( as part of the fo'r
free switches ('rin* the #olicy year-
Pre"iu" Re%ireti!n+ $o' may instr'ct 's in writin* to re(irect all the f't're premi'ms 'n(er a
#olicy in an alternati+e proportion to the +ario's nit F'n(s a+ailable- Re(irection will not affect the
allocation of premi'msD pai( prior to the re3'est-
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Settle"ent O#ti!ns+ This option enables yo' to take the mat'rity procee(s in the form of perio(ical
payments after the "at'rity %ate instea( of a l'mp s'm on the "at'rity %ate- $o' can choose to
re(eem the 'nits in yo'r nit F'n( anytime 'p to / years from the (ate of mat'rity- Capital B'arantee
is not a+ailable ('rin* this perio(-
%'rin* this perio(, there will be no Life Co+er- The only f'n( option a+ailable ('rin* the settlement
perio( is F'n( C- The mat'rity procee(s will a'tomatically be transferre( in to F'n( C if settlement
option is selecte(- The #olicy will participate in the performance of 'nits of F'n( C-
The Company will (e('ct #olicy A(ministration Char*es by cancellation of 'nits- The F'n(
"ana*ement Char*e will be price( in the nit al'e-
In the e+ent of (eath ('rin* settlement perio( the F'n( al'e as on the (ate of intimation at the office
will be pai( to the nominee- QIn or(er to opt for this option the c'stomer has to *i+e notice of 9: (ays
to the Company before the "at'rity %ate-
%'rin* the settlement perio(, the in+estments ma(e in the nit F'n(s are s'bject to in+estment risks
associate( with Capital "arkets an( the nit #rices may *o 'p or (own base( on the performance of
the f'n( an( the factors infl'encin* the Capital "arket, an( the #olicyhol(er is responsible for his her
(ecisions- The in+estment risk ('rin* the settlement perio( will be borne by the #olicyhol(er-
C!n/enient Pre"iu" Pa$in- !#ti!ns
yo' can pay the re*'lar premi'ms in yearly, half yearly, 3'arterly an( monthly mo(e an( pay by cash,
che3'e, (ebitcre(it car(, ECS 6 (irect (ebit-
The minim'm re*'lar premi'm is Rs 1:,::: for ann'al mo(e, Rs /,::: for half8yearly, Rs 5,/:: for
3'arterly an( Rs 1,::: for monthly mo(e- The minim'm top8'p premi'm is Rs 5,/::-
(asi Plan Mini"u" Ma3i"u"
A*e at Entry 9: (ays // years last birth(ay
A*e at "at'rity1; years last
birth(ay;: years last birth(ay
#olicy Term 1: years 9: years
/:
Reliane M!ne$ 0uarantee Plan at a -lane
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O#ti!nal Ri%ers
Ter" Life Insurane (enefit Ri%er
A*e at Entry 1; years lastbirth(ay
/> years last birth(ay
A*e at "at'rity59 years last
birth(ay@ years last birth(ay
#olicy Term / years 9: years
S'm Ass're( 5/,:::p to basic #olicy S'm
Ass're(
Ai%ental Deat* an% Ai%ental T!tal an%
Per"anent Disa)le"ent Ri%er
A*e at Entry1; years last
birth(ay: years last birth(ay
A*e at "at'rity59 years last
birth(ay@ years last birth(ay
#olicy Term / years 9: years
S'm Ass're( 5/,::: p to basic policy S'm
Ass're( s'bject to a ma2im'm
of Rs /:,::,::: on acci(ental
(eath an( Rs /::,::: per
ann'm on total permanent
(isability-
W*at if I ,ant t! %is!ntinue t*e P!li$9
$o' may s'rren(er yo'r #olicy at any time after three years from commencement-
Full Surren%er Value un%er (asi Plan+ The S'rren(er al'e will be the F'n( al'e incl'(in*
Ret'rn Shiel( F'n( if selecte( as on the (ate of intimation of s'rren(er 'n(er 4asic #lan less S'rren(er
Char*e as *i+en below- !n s'rren(er of 4asic #lan, any attachin* Top8ps will also be s'rren(ere(-
No partial S'rren(er al'e is a+ailable 'n(er 4asic #lan-
Year !f surren%er (asi
Plan
Surren%er C*ar-e as !f Fun% Value !f
inlu%in- Return S*iel% Fun% if selete%
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1 to 9
S'rren(er al'e not a+ailable5
9
@ /G
/ 9G
Nil
Full Surren%er Value !r Partial Wit*%ra,al Value un%er T!#1U#: This will be a+ailable on
completion of three years from the (ate of payment of top8'ps- The lock8in perio( of three years will
not be applicable to top8'ps pai( in the last three years of the plan- The f'll S'rren(er al'e or #artial
7ith(rawal al'e is e3'al to the F'n( al'e bein* s'rren(ere( or bein* with(rawn- There is no
S'rren(er Char*e or #artial 7ith(rawal Char*e-
If a partial s'rren(er is taken from the top8'p, the Capital B'arantee on (eath an( mat'rity i-e- the
minim'm %eath 4enefit of top8'p premi'm on (eath at any time ('rin* the #olicy Term an( the
minim'm "at'rity 4enefit of top8'p premi'm pai( pro+i(e( a perio( of at least 1: years has elapse(
from the (ate of payment of top8'pD will cease imme(iately on that Tranche of top8'p-
C*ar-es un%er t*e #lan
Pre"iu" All!ati!n C*ar-es+ This is a percenta*e of the premi'm appropriate( towar(s char*es
from the premi'm recei+e(-
YearPre"iu" All!ati!n C*ar-e
@ as #erenta-e !f #re"iu" a"!untB
$ear 1 9:G
$ear 5
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P!li$ A%"inistrati!n C*ar-es+ Rs @: will be (e('cte( per month per #olicy char*e( monthly
thro'*h cancellation of 'nitsD-
Fun% Mana-e"ent C*ar-es+ The F'n( "ana*ement Char*es 'n(er each f'n( are *i+en below?
Fun% Na"e Annual Rate
F'n( % 1-9/G p-a-
F'n( E 1-9;G p-a-
F'n( F 1-@: p-a-
Ret'rn Shiel( 1-5/G p-a-
F'n( %C 1-9:G p-a-
The F'n( "ana*ement Char*e on each (ay is three h'n(re( an( si2ty fifth of the Ann'al Char*e an(
will be (e('cte( from the Assets of the nit Linke( F'n(-
S,it*in- C*ar-e+ First fo'r switches in any #olicy $ear are free- There will be a char*e of Rs1:: per
switch on s'bse3'ent switches-
C*ar-e f!r Return S*iel% O#ti!n+ There will not be any char*e for the Ret'rn Shiel( option 'n(er
followin* circ'mstances?
If the option is selecte( 'n(er 4asic #lan on commencement of the plan
If the option is selecte( 'n(er top8'p at the time of payment of top8'p
n(er all other circ'mstances, a fi2e( char*e of Rs 1:: is payable e+ery time the Ret'rn Shiel( option
is selecte(
M!rtalit$ C*ar-e+ The "ortality Char*es is base( on yo'r attaine( a*e, are (etermine( 'sin* 115th
of the char*es mentione( in the "ortality Char*e table below an( are (e('cte( by cancelin* the 'nits
from yo'r f'n( e+ery month-
Surren%er C*ar-e+ This char*e is le+ie( on the F'n( al'e at the time of s'rren(er of the #olicy as
'n(er?
Year !f Surren%er !f
(asi Plan8t!#1u#s
Surren%er C*ar-e as
a #erenta-e !f fun% /alue
1 to 9 Not allowe(
@ /G
/ 9G
onwar(s Nil
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Ser/ie Ta3 . !t*er a##lia)le *ar-es+ These char*es are to be le+ie( on the "ortality Char*e an(
on Ri(er #remi'ms- The le+el of this char*e will be as per the rate of Ser+ice Ta2 alon* with the other
applicable ta2es char*es on risk premi'm, if any, as (eclare( by the Bo+ernment from time to time-
The c'rrent rate of Ser+ice Ta2 incl'(in* the E('cation Cess on Ser+ice Ta2D on risk premi'm is
15-5@G- C'rrently, this char*e is borne by the Company- =owe+er, the Company reser+es the ri*ht to
pass on this char*e as well as other char*esta2es to the #olicyhol(er in f't're-
Misellane!us C*ar-e+ Fi2e( "iscellaneo's Char*e of Rs 5 per Rs 1::: S'm Ass're( will be
collecte( on inception of the #olicy-
#remi'm for Ri(er 4enefits? #remi'm for Ri(er 4enefits will be collecte( o+er an( abo+e the premi'm
'n(er 4asic #lan-
Re!/er$ !f C*ar-esThe one time "iscellaneo's Char*e on commencement of the #olicy an( the Allocation Char*es will
be (e('cte( from the premi'm amo'nt before allocation of 'nits-
The F'n( "ana*ement Char*es will be price( in the nit #rice of each F'n(-
"ortality an( #olicy A(ministration Char*es will be collecte( monthly in a(+ance by cancellin* the
'nits at pre+ailin* nit #rice-
Switchin* Char*e an( Ret'rn Shiel( Char*e will be collecte( at the time of transaction by cancellin*
the 'nits at pre+ailin* nit #rice-
The S'rren(er Char*e, if applicable, will be (e('cte( from the F'n( al'e as a percenta*e of the F'n(
al'e-
Ri(er premi'ms will be collecte( o+er an( abo+e the premi'ms 'n(er 4asic #lan an( will not be
(e('cte( thro'*h cancellation of 'nits-
In the e+ent that 'nits are hel( in more than one f'n(, incl'(in* Ret'rn Shiel( F'n(, the cancellation of
'nits will be effecte( in the same proportion as the +al'e of 'nits hel( in each F'n(- In case the F'n(
al'e in any F'n( al'e *oes (own to the e2tent that it is not s'fficient to s'pport the proportionate
applicable monthly char*es, then the same shall be (e('cte( from the F'n( al'e of the other f'n(s
proportionately-
Chan&e in rate of char&es
The re+ision in char*es as mentione( below will take place only after obtainin* specific appro+al of
the IR%A- A notice of three months will be *i+en to the #olicyhol(ers before any increase in the
char*es-
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Ri%er (enefit+$o' also ha+e the option to a(( three a((itional benefits to c'stomi0e the #olicy as
per yo'r nee(s for the re*'lar premi'm plan
a- Term Life Ins'rance 4enefit Ri(er
b- Acci(ental %eath 4enefit 6 Total an( #ermanent %isablement Ri(er
c- Critical Illness Ri(er
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Term 1ife Insurance Benefit Ri#er
A(( the a(+anta*e of the Term Life Ins'rance 4enefit ri(er to yo'r basic #olicy an( increase risk
co+era*e-In the e+ent of 'nfort'nate loss of life the Term Life Ins'rance 4enefit is payable an( the amo'nt
payable is e3'al to the ri(er S'm Ass're(-
There is no "at'rity 4enefit-
Term Insurance
'inimum 8 'a(imum A&e at entry 1; />
'a(imum A&e at e(0iry @ yrs policy anni+ersary imme(iately followin* a*eD
)um Assure# Rs 1,::,::: E3'al to basic policy s'm ass're(
Policy Term E3'al to basic policy term
Ai%ental Deat* (enefit . T!tal an% Per"anent Disa)le"ent Ri%er
Acci(ents are 'nfort'nate an( sometimes fatal- $o' can c'stomise yo'r basic #olicy with an
Acci(ental %eath 4enefit 6 Total an( #ermanent %isablement Ri(er-
The Acci(ental %eath 4enefit is payable if (eath occ'rs (irectly as a res'lt of an acci(ent an( is
intimate( within >: (ays of the occ'rrence-
The 4enefit payable is e3'al to the Ri(er S'm Ass're(- The minim'm S'm Ass're( is Rs 5/,::: an(
the ma2im'm 'n(er all #olicies taken to*ether is Rs /:, ::,:::-
The Total an( #ermanent %isablement 4enefit is payable if the Life Ass're( becomes totally an(
permanently (isable( (irectly as a res'lt of an acci(ent-
The %isability 4enefit is e3'al to the basic S'm Ass're( pai( in ten e3'al ann'al installments
Total an( #ermanent %isablement is (efine( as the total an( irreco+erable loss of si*ht of both eyes, or
loss by se+erance of two limbs at or abo+e wrist or ankle, or total an( irreco+erable loss of the si*ht of
one eye an( loss by se+erance of one limb at or abo+e wrist or ankle for a perio( of at least si2 months-
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In)uilt Wai/er !f Pre"iu"
If the Life Ass're( becomes totally an( permanently (isable(, then Reliance Life Ins'rance will wai+e
all f't're premi'ms 'n(er the basic #olicy an( ri(ers 'p to a limit of Rs @:,::: p- a-
Acci#ental 3eath 9 3isability Benefit
A&e at entry 1; yrs /> yrs
A&e at e(0iry 5/ yrs @ yrs
)um Assure# Rs 5/,:::Rs /:,::,::: s'bject to a ma2im'm of basic policy s'm
ass're(D
E3lusi!ns
The Company will not pay any Acci(ental %eath Claim or Total an( #ermanent %isablement Claims
which res'lts (irectly or in(irectly from any one or more of the followin*?
An act or attempte( act of self8inj'ry,
#articipation in any criminal or ille*al act,
4ein* 'n(er the infl'ence of alcohol or (r'*s e2cept 'n(er (irection of a re*istere( me(ical
practitioner,
Racin* or practicin* racin* of any kin( other than on foot,
Flyin* or attemptin* to fly in, or 'sin* or attemptin* to 'se, an aerial (e+ice of any (escription,
other than as a fare payin* passen*er on a reco*nise( airline or charter ser+ice,
#articipatin* in any riot, strike or ci+il commotion, acti+e military, na+al, air force, police or
similar ser+ice, or
7ar, in+asion, act of forei*n enemies, hostilities or war like operations whether war be
(eclare( or notD, ci+il war, m'tiny, military risin*, ins'rrection, rebellion, military or 's'rpe(
power or any act of terrorism or +iolence-
Critial Illness
S'((en onset of a major illness ca'ses worries an( hea+y e2penses- !'r optional Critical Con(itions
Co+er helps pro+i(e financial relief in s'ch cases- It pays yo' the S'm Ass're( 'pfront in respect of
ten major illnesses-
Cancer
Coronary Artery 4ypass S'r*ery
=eart Attack
Stroke
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Oi(ney Fail're
Aorta S'r*ery
Coma
=eart al+e Replacement
"ajor !r*an Transplant
#aralysis
This 4enefit can be a+aile( only once a*ainst any one of the illnesses an( the Company will not pay
the claim if it arises from (eliberate self8inj'ry or attempte( s'ici(e by the Life Ass're(, whether sane
or insane- This benefit will only be *i+en, if the (iseases are confirme( by a Cons'ltant #hysician-
Critical Illness
A&e at entry 1; yrs // yrs
A&e at e(0iry 59 yrs @ yrs
)um Assure# Rs 1,::,:::Rs 1:,::,::: s'bject to a ma2im'm of basic policy s'm