Reliance Life Insurance, an Anil Ambani Group firm, has launched a new unit linked insurance plan 'Reliance Highest Net Asset Value Guarantee Plan', which it claims to enable policy-holders to avail good returns.
The company said that the premium paid by the policyholder under the plan are invested in the ‘Highest NAV Guarantee Fund’ and accordingly units are allocated based on the fund NAV.
The company claims that the key differentiator is that the Net Asset Value (NAV) in the new plan case is calculated on a daily basis for the entire policy term and not on any fixed dates of the month. In addition, on maturity the plan guarantees a high return, number of units on date multiplied by highest NAV, to the customer.
Malay Ghosh, president of Reliance Life Insurance, said: “The new plan simply captures and guarantees the upside of the market with no risk of negative return. The customers can take advantage of market-linked returns with the satisfaction of getting the highest NAV during the policy term, while protecting his wealth from any downturn in the market.”