Mumbai, Jan 24 (IANS) Reliance Life Insurance, a unit of Anil Ambani-led Reliance Capital, Thursday launched a new endowment plan that offers guaranteed life cover and maturity benefits.

The new product called Reliance Life Insurance Super Endowment Plan provides life insurance coverage for the full policy term by paying for just half of the selected policy period.

"Reliance Life Insurance Super Endowment Plan has been designed to provide customers, who have a lower investment risk appetite, with the twin-benefits of saving and life cover for the future," Anup Rau, chief executive officer, Reliance Life Insurance, said in a statement.

"This new product is in line with our philosophy to enable customers across all income segments to insure their life and provide security to their dependents," Rau said.

The new plan is available for customers in the age group 8-60 years with a minimum sum assured of Rs.1 lakh. The policy-holder can opt for two policy terms -- 14 years or 20 years.

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