Reliance Nippon Life?s Guaranteed Money Back Plan

As is evident from the name itself, Reliance Nippon Life?s Guaranteed Money Back Plan is a traditional money-back plan which pays the Sum Assured in instalments during the term of the plan. Apart from the survival benefits, the plan also pays Guaranteed additions to enhance the corpus. Two inbuilt riders also increase the scope of coverage extended by the plan.

Key features of the plan

  • Guaranteed money backs are paid in the last 5 years of the plan.
  • Guaranteed Loyalty Additions are added to the plan corpus during the plan tenure and Guaranteed Maturity Additions are added on maturity of the plan. Both these additions increase the benefit payable.
  • There are two inbuilt riders under the plan. One is the accidental death benefit rider which pays an additional Sum Assured in case of accidental death. Another is the premium waiver benefit which waives the premiums in case of death of the insured while the plan continues till maturity.
  • Premiums can be paid regularly or for a limited tenure.
  • Premium discounts are allowed for choosing a higher level of Sum Assured.

How does the plan work?

Step 1 ? the policyholder chooses the Sum Assured, the plan term, the premium paying term and frequency. Based on the insured?s age and the above factors, the premiums are calculated.

Step 2 ? money back benefits are paid in the last 5 years of the plan @ 15% of Sum Assured.

Step 3 ? if the insured survives the plan tenure, the maturity benefit is paid which is 40% of Sum Assured and accrued Guaranteed Loyalty Additions and a Guaranteed Maturity Addition.

Step 4 ? if the insured dies during the plan tenure, higher of the Sum Assured, 10 times the annual premium or 105% of premiums paid is paid as death benefit irrespective of the money back benefits already paid. In case of accidental death an additional Sum Assured is paid. The future premiums are waived off while the plan continues. On maturity, the maturity benefit is paid.


Rishika, aged 30 years, buys the plan for a term of 20 years choosing a Sum Assured of Rs.5 lakhs.

Option 1 ? guaranteed Loyalty Additions @ 2% of Sum Assured which is Rs.10, 000 accrues every year of the term. Money back benefits of Rs.75, 000 are paid every year from the 16th policy year. On maturity, Rs.2 lakhs is paid along with the accumulated loyalty additions of Rs.2 lakhs (Rs.10, 000*20) and guaranteed maturity addition of Rs.1lakhs.

Option 2 ? Rishika dies accidentally in the 6th policy year. The Sum Assured of Rs.5 lakhs is paid immediately along with accidental Sum Assured of Rs.5 lakhs. Premiums are waived off. Money back benefits are paid in the last 5 years. On maturity, the promised maturity benefit is paid.

Plan benefits

  • Death benefit ? if the life insured dies during the term of the plan, and all premiums have been paid, the death benefit is paid. The death benefit is higher of the Sum Assured, 10 times the annual premium or 105% of all premiums paid till death. In case of an accidental death, an additional Sum Assured is paid along with the death benefit. Thereafter, all future premiums are waived off but the plan continues. The stipulated money-back benefits are paid as promised. When the plan matures, the maturity benefit is paid.
  • Maturity Benefit ? when the chosen tenure of the plan comes to an end, and all premiums have been paid, the last survival benefit instalment is paid as maturity benefit which is equal to 40% of the Sum Assured. Along with the instalment, guaranteed loyalty additions and guaranteed maturity additions are also paid.
  • Survival benefits ? money-back benefits are paid in the last 5 years of the plan @ 15% of the Sum Assured. In case of a 15-year term, benefits are paid from 11th year and in case of a 20-year term benefits are paid from the 16th policy year.
  • Guaranteed Loyalty Additions ? 2% of the Sum Assured is added as Guaranteed Loyalty Additions every policy year for which premiums are paid. At the end of the plan tenure, the aggregate additions are paid with maturity benefit.
  • Guaranteed Maturity Additions ? a guaranteed addition is added to the maturity benefit when the plan matures and due premiums have been paid. The addition is 15% of the Sum Assured for a 15-year policy and 20% of the Sum Assured for a 20-year policy.


  Minimum Maximum
Age at entry (in completed years) 18 years Policy term 15 years ? 58 years
Policy term 20 years ? 55 years
Age at maturity (in completed years) 33 years 75 years
Term of the plan 15 years 20 years
Premium paying options Limited pay or Regular Pay
Premium Paying term Policy term 15 years:
Age 18-43 years ? equal to plan term
Age 44-53 years ? 10 years
Age 54-55 years ? 7 years
Age 56-58 years ? 5 years
Policy term 20 years:
Age 18-47 years ? equal to plan term
Age 48-53 years ? 15 years
Age 54-55 years ? 10 years
Premium amount Depends on the Sum Assured, policy term, premium payment term and frequency and age of the life insured.
Sum Assured Rs.5,000 No limit

What is not covered in the policy?

  • In case of suicide committed within 12 months of inception, 80% of the premiums paid are refunded.
  • If suicide is committed within 12 months of revival, higher of 80% of the premiums paid or the surrender value under the plan is paid.
  • For the accidental death benefit, death due to suicide, self-inflicted injuries, war, participation in hazardous activities, criminal acts, aviation, etc. would not be covered.

Premium Illustration

Below are the sample rates of premium payable by a non-tobacco user male for a combination of different ages, term and Sum Assured. The premiums are including taxes and are assumed to be paid annually for the entire plan tenure.



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CIN: U66000DL2011PTC214078

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