Reliance Life Insurance on Wednesday announced the launch of Reliance Super InvestAssure Plan (RSIP), a unit-linked insurance plan that offers guaranteed additional contribution for policyholders, apart from investment returns and maturity benefits. "One of the unique propositions of RSIP is that it contributes to a policyholder's account 50% (in 10th year) to 250% (by 30th year) of the paid annualised premiums. This is the additional income that policyholders will earn from the company and it will have compounded growth as well, depending on the market conditions," said Reliance Life Insurance'S CEO, P Nandagopal.
According to the company, RSIP is designed to provide the policyholders an opportunity to invest their funds in eight different fund options, including the safe GILT fund as well as sectoral funds like infrastructure, energy and mid-cap, which provide relatively higher returns. The scheme's pure equity fund option will not make any investments in industries like nonbanking finance, liquor, cigarettes, tobacco, entertainment, leather and sugar among others.
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