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Reliance Life has launched Income Protect Plan

Reliance Life has launched Income Protect Plan
Reliance Life Insurance has launched their new Income Protect Plan, this plan is offered online. The plan is a mix of protection + income replacement in form of monthly income. It’s a term plan that protects family with a lump sum to pay off large liabilities and a monthly income till retirement.  

Income Protect Plan at a glance:-
 

Particulars

Minimum

Maximum

Entry age (in years)

18

55

Maturity Age (in years)

28

75

Sum Assured (in Rs.)

35,00,000

No limit

Annual Premium (in Rs.)

3,500

No limit

Premium Payment Frequency

Annual

Policy Term (in years)

10,15,20,25,30,35

Death Benefit

Sum Assured on Death, Monthly Income Benefit

Maturity Benefit

No Maturity Benefit is payable under this plan.

Loan

Loan facility not available under this plan

Surrender Benefit

Since it’s a term plan, it does not acquire any surrender value

Riders

Not available under this plan


Reliance Life Insurance Company is a part of Reliance - Anil Dhirubhai Ambani Group (ADAG). Reliance Life Insurance is one of the few private life insurance companies in India which have launched operations without a foreign partner. Apart from its stand-alone distribution network the company has access to its large distribution which already is into the consumer finance business in a big way. Reliance entered into online insurance with its “Sabse Sasta Online Term Plan”. 

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