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Reliance Life Online Term Plan

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Reliance Life Online Term Plan

 

Reliance Online Term Plan is a pure protection plan which is available for online purchase. If the Life Insured dies within the policy tenure, the Sum Assured is paid to the nominee as Death Benefit and the policy is terminated. In case Accidental Death Benefit Option has been selected and the death is accidental, then as additional Accidental Death Benefit is paid to the nominee.

 

 

Key Features of Reliance Online Term Plan

 

  • Exclusively available on the internet for an online purchase
  • Rewards for healthy lifestyle through lower premiums
  • Income tax benefits as per applicable tax laws
  • Simplified medical examination process*

COMPARE THIS PLAN WITH OTHER TERM PLANS
Yes
No

 
 

Benefits you get from Reliance Online Term Plan

 

Death Benefit – In the unfortunate event of demise of the Life Assured during the policy term, the nominee will receive the maximum of

- Sum Assured; or

- 10 times Annualised Premium; or

- 105% of the premiums paid as on date of death, excluding underwriting extra premiums, if any

 The policy will be terminated once the Death Benefit is paid.

 

Maturity Benefit – There are no maturity benefits under this plan as it is a pure protection plan.

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C. The Death Benefit is also Tax Free.

 

HAVE ANY DOUBTS THAT NEED TO BE CLARIFIED?

 

Eligibility conditions and other restrictions in Reliance Online Term Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

25,00,000

No Limit

Policy Term (in years)

10

35

Premium Payment Term (in years)

Equal to policy term

Entry Age of Policyholder

18

55

Age at Maturity

28

75

Annual Premium (in Rs.)

3,500

NA

Payment modes

Yearly

 

 

Additional Features and Benefits of Reliance Online Term Plan

 

Riders – No riders are available in this policy

 

 

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period. It can however be re-instated the policy within 2 years of lapsation by paying up all due premiums with interest.

 

You want to surrender the policy – There are no surrender benefits under this term plan. No paid Up Value is acquired under this plan.

 

You want a loan against your policy – Loan facility is also not available under this policy.

 

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