Selection of Premium Payment Term and Policy Term:

• Premium Payment Term: Policyholders could choose the premium payment term based on their financial goals, ranging from a single premium to regular premiums for a limited period or until a certain age.

• Policy Term: Policyholders had the flexibility to select the policy term based on their financial needs and objectives, whether it's short-term or long-term.

Payment of Premiums:

• Policyholders needed to pay regular premiums for the chosen premium payment term to keep the policy active and benefit from life insurance coverage, increasing monthly income, and potential bonuses.
• Premiums could be paid monthly, quarterly, half-yearly, or annually as per the convenience of the policyholder.

Investment of Premiums:

• The premiums paid by the policyholder were invested in various fund options offered by Reliance Life Insurance Company, such as equity funds, debt funds, and balanced funds.
• Policyholders could choose to allocate their premiums among different fund options based on their risk appetite, investment objectives, and market outlook.

Accumulation of Fund Value and Bonuses:

• Over time, the premiums paid, along with potential investment returns, accumulated to form the fund value. Additionally, bonuses declared by the company were added to the policy, enhancing the overall returns and benefits for the policyholder.
• The fund value represented the total value of the investments made under the policy and grew over time through capital appreciation and reinvestment of dividends and bonuses.

Increasing Monthly Income Payouts:

• The plan provided an increasing monthly income to the policyholder over the policy term. The monthly income would typically increase by a certain percentage (e.g., 10% or 20%) every year to help policyholders cope with inflation and rising expenses.
• The increasing monthly income payouts provided a regular cash flow to meet ongoing expenses such as household bills, rent, and other financial commitments, reducing financial stress and ensuring a comfortable lifestyle.

Partial Withdrawals and Loan Facility:

• After the policy acquired a surrender value, policyholders had the flexibility to make partial withdrawals from the accumulated fund value or avail of a loan against the policy to meet financial needs.
• Policyholders could utilize these partial withdrawals or loans to manage unforeseen expenses, fund children's education, finance major expenses, or supplement their income during financial emergencies without surrendering the policy.

Lump-Sum Benefit on Maturity or Death:

• On maturity of the policy or in the event of the unfortunate death of the policyholder during the policy term, a lump-sum amount, which could be the sum assured or the fund value (whichever is higher), was paid to the policyholder or their nominee.
• The lump-sum benefit provided financial support and security to the policyholder or their family, helping them maintain their standard of living and meet their financial needs.