Reliance Term Insurance
Reliance Nippon Endowment Policy

Reliance Nippon Endowment Plans

Reliance Nippon endowment plans are a type of life insurance policy that not only provides coverage for the insured but also encourages disciplined savings over a specific period. These plans are designed to help policyholders meet their long-term financial goals, such as funding their children’s education, arranging for their marriage, or securing their golden years of retirement, to say the least. When you save regularly through this policy, the policyholder can accumulate a lump sum or receive a regular income at the end of the policy term. 

In the unfortunate event of the policyholders’ demise, the Reliance Nippon endowment plans offer significant financial support to the beneficiaries, which ensures their financial security during challenging times. Therefore, this dual benefit of lige coverage combined with savings makes endowment plans the “best” choice for financial planning.

Major Benefits of Reliance Nippon Endowment Plans

Here is a list of the benefits of opting an endowment plan from Reliance Nippon Life Insurance. 

  • Life Cover for Financial Protection 

One of the biggest benefits of choosing Reliance Nippon Endowment Plans is that they offer life insurance coverage which ensures that your loved ones are protected in your absence. Furthermore, this support provides peace of mind knowing your family will be cared for. 

  • Disciplined of Regular Savings 

Another major benefit of enrolling in an endowment plan from Reliance Nippon is that it encourages regular savings, which may help you build a habit of setting aside money to meet your financial goals. Furthermore, when you’re disciplined about your payments, you are consistently working towards securing your financial future. 

  • Accumulation of Saving Corpus

Another major interesting aspect of choosing Reliance Nippon Endowment Plans is that these plans may help you accumulate a corpus that can be utilized to achieve your long-term investment objectives, such as funding education, retirement planning, and other significant life event. 

  • Tax Benefits 

One of the major benefits of Reliance Nippon Endowment Plans is that they offer tax exemptions under the Income Tax Act. When you pay premiums qualify for tax deductions under Section 80C, and the maturity or death benefit is also exempt from taxes under Section 10(10D). 

  • Loan Facility 

Last but not least, one of the major attractive highlights of choosing endowment plans by Reliance Nippon is that it provides the option to avail of a loan against the policy. Remember that having a loan facility may be beneficial in case of financial emergencies.

Top Reliance Nippon Endowment Plans

Here are the endowment plans by Reliance Nippon Life Insurance.

1. Reliance Nippon Life Super Endowment Plan

The Reliance Nippon Life Super Endowment Plan is a non-linked, non-participating, Individual Savings Life Insurance Option designed to provide comprehensive life cover and disciplined savings. Furthermore, the plan offers life insurance coverage that is at least 10 times the annualized premium for the entire policy term, which ensures robust financial protection for your loved ones.

Parameters Details 
Age at Entry 

Minimum- 8 Years

Maximum- 60 Years

Age at Maturity 

Minimum- 22 Years

Maximum- 75 Years

Policy term 14 and 20 Years
Sum Assured 

Minimum- Rs. 1,00,000

Maximum- No Limit

Annualized Premium 

Minimum- Rs. 10000

Maximum- No Limit

Key Features & Benefits:

These are as follows:

  • Base Sum Assured at Maturity 

One of the major features and benefits of the plan is that it helps you receive the base sum assured at maturity, which may provide you with a lump sum payout that can be used to meet long-term financial goals. 

  • Comprehensive Life Cover 

Another major reason to invest in a plan is that it offers a life cover which is at least 10 times the annualized premium for the entire policy term. With such an insurance cover, your loved ones are financially protected in the unfortunate event of your demise during the policy term.

  • Flexible Policy Term Option

With Reliance Nippon Super Endowment Plan, you can choose between two policy term options- 14 and 20 years, based on your financial goals and planning horizon. When you have such kind of flexibility, you don’t need to worry about the expenses in the future.

How Does Reliance Nippon Endowment Plan Work?

Mr Rakesh Chhabra, a 31-year-old professional with an annual income ranging from Rs. 3 lakhs to Rs. 6 lakhs, decided to secure his financial future with Reliance Nippon Life Super Endowment Plan. Since he knows the importance of savings and life insurance, he opted for a policy term of 14 years and a sum assured of Rs. 5,00,000. To make the plan more manageable, he chose a premium payment term of 7 years which means he would only need to pay the premium during the first half of the policy term. The total premium for his chosen plan amounts to Rs. 44,310 annually.

How to Buy Reliance Nippon Endowment Plan?

Here is a list of the steps to consider to buy the Reliance Nippon endowment plan.

  • In the first step, you will need to visit the official website of Reliance Nippon Endowment Plan.
  • On the banner, you will find “Buy Online”, click on it. Scroll down till you find “Reliance Nippon Life Super Endowment Plan”, click on it and then again click on “Buy Online”.
  • After the plan page will open, you will need to enter your name, email ID, and mobile number. Then, click on the checkbox and then click on “I’m Interested”.
  • In the next step, you will need to enter your name, life assured name, date of birth, payment frequency, policy term, premium payment term, and more. Then, enter the sum assured. Once done, double the mobile number and email ID. Then, click on “Show Illustration”.
  • Then, in the next step, click on “Buy Online” in the light-orange coloured button. Then, click on the “Next” button.
  • After that, you will need to check the premium and then renew and proceed with the amount if you are satisfied with it. Then, enter the PAN number and then again, click on the “Proceed” button.
  • After that, you will now need to make the payment and congratulations- you have successfully purchased your policy.

Frequently Asked Questions

Listed below are the frequently asked questions related to the Reliance Nippon Endowment Plans.

Yes, you have a grace period of 30 days from the due date if you pay premiums yearly, half-yearly, or quarterly. If you pay monthly, the grace period is 15 days.

If the insured person, whether sane or not, commits suicide within 12 months;

  • From the start of the policy, the nominee will receive 80% of the premiums paid. 
  • From the policy’s revival, the death benefit will be higher by either 80% of the premiums paid or the policy’s surrender value as of the date of death.

If you don’t pay the first annual premium in full, your policy will lapse after the grace period ends and your insurance coverage will stop immediately. No benefits will be paid if the policy isn’t revived within the allowed period.

Yes, the premiums you pay are eligible for tax deductions as per the applicable tax laws and conditions. 

You can choose to pay your premiums yearly, half-yearly, quarterly, or monthly.

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