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Anil Ambani's Reliance launches new insurance plan for children
Anil Ambani-led Reliance Life Insurance Company (RLIC), which is also a subsidiary of Reliance Capital Ltd, has launched a brand new insurance plan for children- the Reliance Education Plan. The plan is a non-linked and non-participating in nature and it provides for a child's finance for his education and securing his future.
It lays emphasis on a child's parents to save a considerable amount for their children. The plan is designed such that it assists the parents to secure their child's future education finances and provide them with the security of a steady income when they grow up.

Reliance Education Plan comes with four maturity payout options which can be selected depending on the child's financial requirements for the options he chooses for himself. It can either be a lump sum amount at the time of maturity or it can be in two installments when the child is opting for higher education, namely post-graduation.

It is four installments in case of a professional degree, and five in case of an integrated course like a graduation and post-graduation. If one goes for the first option, that is the lump sum amount, the amount can well be a capital in case the child wants to start a business of his own.

This plan, an initiative led by Anil Ambani, can be availed for policy terms from 9 to 20 years. The payment periods range from five years, seven years, ten years and for the entire term as well. Children can avail this plan right at the time of their birth (by parents), till 18 years of age. Parents aged between 20 to 50 years with children below the age of 18 can enjoy the benefits of the plan.

The plan also provides the privilege of death benefit payouts, in an unfortunate event of the child's death. The full amount is payable on death of the child in question or 50% amount will be paid followed by an annual payment for ten years. It guarantees the payment of the maturity amount without any further premium payment, if it needs be. One can choose the options at the time he is availing the plan.

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