Reliance Life Insurance Company (RLIC) have recently launched new product called Reliance Education Plan to cater child's education needs.
This plan is a non-linked, non-participating, specialist child insurance plan that provides assured payouts for financing a child's education and securing their future.
The plan helps parents save for their child's career milestones and also provide a child with the security of future income.
Features of the Policy
Guaranteed achievement of your child's future dream: Receive guaranteed benefits at maturity of the policy, even in your absence
Choose your benefit Payout Option
- Self Starter: A single lump sum for your child's ambition
- Post Graduation Degree: 2 installments for child's post-graduation
- Professional Degree: 4 installments for child's professional degree
- Career Starter: 5 installments if they have planned for an integrated course like a graduation and post-graduation
Protect your child's future even in your absence
Choose between two Death Benefit options:
- Option I - 100% of Death Benefit as an immediate lump sum on death
- Option II - 50% of Death Benefit as a lump sum on death and remaining as an income for next 10 years.
- The plan is available for policy term between 9 to 20 years and with payment options for 5 years, 7 years, 10 years or for the entire term.
Individuals can avail loan facility to meet unforeseen needs. Also avail tax benefits, as per the applicable income tax laws.