Reliance Child Plan

Reliance Child is a traditional participating child plan which guarantees child’s future even if the parent is not around.

Investing in your child's future:A wise decision & a loving choice

Benefits of Investing In Child Plan

Waiver of Premium Benefit

Future Premiums are paid by the insurer upon death of policyholder

Flexible Payout Options

Your premiums help your child achieve their dreams through lump sum or regular payouts

Wealth Boosters

Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us

Zero Commission

We charge no commission when you buy from us. Also buy online & get extra

Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr^# Tax-Free* on Maturity

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7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Reliance Child Plan - Key Features

This is a participating child plan which secures the child’s future
In the event of death of the policyholder, the future premiums are waived off through the inbuilt Waiver of Premium rider but the policy continues to run till the end of policy term
Non-Negative Capital Guarantee and High SA Additions are features that increase the corpus besides bonus

Reliance Child Plan - Benefits

25% of the assured sum amount is paid as Guaranteed Periodic Benefits in the last 3 policy years before maturity even if the policyholder does not survive the policy term
Under the Non-Negative Capital Guarantee feature, the benefit paid on Maturity is never less than the total premiums paid and if it is less, the company funds the deficit
On maturity, 25% of the SA+ Non-Negative Capital Guarantee Additions+ High SA Addition Benefit + Bonus is paid to the policyholder
On death, the SA payable on death + bonuses is paid subject to the minimum of 105% of total premiums paid
The SA payable on death is higher of 10 or 7 times annual premium (based on age) or Base SA + High SA Additions if any or SA payable on Maturity
Tax Benefits: The premiums paid and claims received are eligible for tax deductions Under Section 80C and 10(10D) of the Income Tax Act.

Reliance Child Plan - Product Specification

	Minimum	Maximum
Entry Age (Last Birthday)	20 years	60 years
Maturity Age (Last Birthday)	30 years	70 years
Policy Term (PT) in years	10	20
Premium Paying Term (PPT) in years	Equal to policy term
Premium Paying Frequency	Annual, half-yearly, quarterly, monthly
Yearly Premium	Depends on Sum Assured
Sum Assured	25,000	No limit

Details About Premium

Benefit Illustration for a 35 year male:

Premium	SA	Guaranteed Benefit before maturity	Guaranteed benefit after maturity	Vested bonus
				@ 4%	@ 8%
30,000	405,405	304,682	101,554	97,297	194,594

Reliance Child Plan - Policy Details

Grace Period: The insured is allowed a grace period of 15 days for payment of his premiums in monthly mode and 30 days grace period for the other premium payment modes. If the policyholder fails to make his payment within the allowed grace period, then the policy is subject to lapse.
Policy Termination or Surrender Benefit: The Policyholder is allowed to surrender the policy after 3 completed policy years. The Surrender Value shall be a higher of the Guaranteed Surrender Value or the Special Surrender Value. GSV is expressed as a % of total premiums paid.
Free Look Period: If the policyholder feels he is not happy with the coverage and the terms and conditions of his policy, then he has the option to cancel his plan within 15 days of receiving the policy documents, given that no claims has been done yet.

Unique Triple Benefit

Future premiums paid by insurer on parent's death

Monthly income to fund child's education on parent's death

Lumpsum payout to family on parent's death

Returns

Return as of Apr 2024
12%-15%
8.2%
7.1%

Availability

Availability
Girl Child or Boy Child
Girl child only
Girl Child or Boy Child

Max Entry Age
Upto 18 years
Upto 10 years
No Age Limit

Flexibility

Invested Amount can be Withdrawn after
5 years
21 years
15 years

Conditions for Premature closure
Anytime after 5years
Extreme Compassionate Grounds
Serious Ailments or for education

Penalty on Premature Closure
No Penalty after 5 years
Returns reduced to Post Office Savings rate
1% reduction in interest rate

Max deposit amount in an year
No Limit
1.5 Lacs
1.5 Lacs

Documentation

Documentation Required for Withdrawal
Low
High
Low

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Inclusions

Loan Benefits: Loan is available under the plan @ 80% of the Surrender Value in first 3 years and 90% thereafter
Additional Features: There is a High SA Addition Percentage for SA higher than 2.5 lakhs

Documents Required

The Policyholder has to submit a duly filled Application form / Proposal form with correct medical history and his address proof along with necessary KYC documents. In some cases, medical examination might also be required, based on the policyholder’s age and the sum assured required by him.

You may also like to read: Reliance Life Child Insurance Plans

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.