Reliance Life launches Money Guarantee Plan

New Delhi, Feb 19 (UNI) Reliance Life Insurance Co Ltd today announced the launch of Reliance Money Guarantee Plan (RMGP), ensuring consumer's protection of the returns made on investments.

This will enable the consumer to enjoy the upside of his investments, without the fear of any downside.

Reliance Money Guarantee Plan (RMGP) is a Unit Linked Plan that addresses the comprehensive need to strike a perfect balance between savings and protection.

Other key features which can be attributed to the plan are the ''Exchange'' and ''Settlement'' option.

The Exchange option allows the customer to shift to a different unit-linked plan and get the benefit of discounted allocation charge.

The Settlement option enables the customer to take the maturity proceeds in the form of periodical payments after the maturity date up to a maximum of five years instead of a lump sum on the maturity date.

''RMGP has been designed keeping in mind the consumers'' expectation of maximising his gains without any fear of losing the capital.

''This Plan ensures that the returns made are safeguarded, using the Return Shield option, thus limiting exposure to risk in an event of a negative market,'' said P Nandagopal, Chief Executive Officer, Reliance Life Insurance.

Reliance Life Insurance has grown by 263 per cent in the period April-December 2006, as compared to the corresponding period last year.

The company plans to open another 187 branches in addition to the present 152 branches which will help it attain a strong foothold across the country.

Reliance Life Insurance Company Limited is an associate company of Reliance Capital Limited.

UNI