Reliance Life Insurance has unveiled a new unit-linked insurance plan, which assures high returns and targets policy holders from one month babies to 65-year oldsters.

A company declaration said, "The new plan has been developed with the objective to maximise returns for policyholders and guarantees benefit at the highest asset value ever achieved by the fund during the entire policy term of 10 years."

Under the novel insurance plan, the insurance premium paid by the holder, excepting the charges, get invested in a fund and units are allocated based on NAV. On matureness, it promises proceeds based on number of units multiplied by the maximum net asset value.

Mr. 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."

"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."

The highest sum guaranteed offered under the new plan is around 30 times the yearly premium in the case of normal premium option, and up to six times the annualised premium in the single premium option.

The plan also has different optional rider advantages including health linked expenses to boost safety cover. (With Input from Agencies)