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Reliance Life Insurance Company (RLIC) has launched a new plan ‘Reliance Increasing Income Insurance Plan’.
This is a traditional non-participating plan that secures an assured source of monthly income to meet the growing expenses and support the dreams and aspirations of the policyholder.
The key feature of the plan is that it offers a long-term regular monthly income after the end of the premium payment term that increases every year at 3 per cent under the Income with Maturity Benefit option and 6 per cent under the only Income Option.
“With increasing inflation and demands of a better lifestyle, there is a strong need to save up for an alternative source of income. We have carefully designed a plan that will provide a long-term income that increases every year. From the protection perspective, the life insurance benefits along with the savings component make Reliance Increasing Income a relevant proposition,” Manoranjan Sahoo, Chief Agency Officer, Reliance Life Insurance, said in a statement here.
The age of entry in the plan is from 14 years to 60 years with the policy term varying from 12 to 24 years.
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