Reliance Life Insurance Company (RLIC), an India-based insurer, has introduced a new policy, known as Reliance Increasing Income Insurance Plan.

The increasing income plan is a traditional non-participating policy, which has been designed to offer an assured source of monthly income to meet the growing expenses of the policyholder..

The insurance product provides a long-term regular monthly income after the end of the premium payment term.

The income increases every year at 3% under the income with maturity benefit option and 6% under the only income option.

Reliance Life Insurance chief agency officer Manoranjan Sahoo was quoted by The Hindu BusinessLine as saying: "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."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The age of entry in the plan is between 14 and 60 years with the policy term ranging from 12 to 24 years.