Reliance Simple Term Plan
Reliance Life Simple Term Plan
As the name suggests, this is the SIMPLEST Term Plan in the industry. This plan does not provide any flexibility or anything, but provides for a basic cover of Rs 10000 for 3 years to the family of the life insured by paying almost nothing.
Key Features
Benefits
Nominee gets the Sum Assured of Rs 10,000 if the Life Insured dies within 3 years of the policy.
If the Life Insured survives the entire term, there is no Maturity benefit available.
There is no tax benefit under this plan.
There are no additional benefits or riders available in this plan.
Eligibility
Minimum | Maximum | |
Sum Assured (in Rs.) | 10,000/- | |
Policy Term (in years) | 3 | |
Premium Payment Term (in years) | Equal to Policy Term | |
Entry Age of Policyholder | 18 | 44 |
Age at Maturity | - | 47 |
Single premium | NA | NA |
Payment modes | Only Yearly |
FAQs
If the policy holder stops paying the premium, then the policy lapses and the life coverage ceases to exist after the grace period of 30 days end.
There is no Surrender Benefit in this plan
There is no Loan Facility under this plan