Anil Ambani’s Reliance Life Insurance, the fourth largest private insurer in the country has launched the first-of-its-kind Reliance Super InvestAssure Plan (RSIP) in the market.

RSIP is company’s first pure equity unit linked insurance plan (ULIP), which offers guaranteed additional contribution for policyholders, apart from rich investment returns and maturity benefits.

The plan provides investors an opportunity to invest in eight different fund options. It has added Shariah compliant features like having no investments into industries such as non-banking finance, liquor, cigarettes, tobacco, and sugar among others.

Further, with annual premium as low as Rs 5,000, the insured customer can get a wide array of life insurance and health insurance benefits with maximum range of riders, including term life insurance, major surgical benefit, critical illness and accidental death and total permanent disablement for a nominal additional premium.

Moreover, RSIP also provides plan even for child of 30 days and covers life of the insured up to 20 times of the annual premium, depending on the age.

The company has 745 branches operating in about 650 towns and cities.