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Reliance Simple Term Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.
 

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 of Reliance Simple Term Plan

 

§  Pure Term Insurance plan with lowest premium of Rs 100 per annum only.

§  No Maturity Benefits and is only valid for 3 consecutive years.

§  Sum Assured is fixed at Rs 10,000 only.

Have any doubts that need to be clarified? Request a Call Back

 

Benefits you get from Reliance Simple Term Plan


Death Benefit – Nominee gets the Sum Assured of Rs 10,000 if the Life Insured dies within 3 years of the policy.


Maturity Benefit – If the Life Insured survives the entire term, there is no Maturity benefit available.


Income Tax Benefit – There is no tax benefit under this plan.

 

Eligibility conditions and other restrictions in Reliance Simple Term Plan

 

 

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

 

 

Sample illustration of premium amount in Reliance Simple Term Plan

 

The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 10,000 and Policy Term = 3 years

Reliance Simple Term Plan Sample Premium Rates

 

 

Additional Features and Benefits of Reliance Simple Term Plan

 

Riders – There are no additional benefits or riders available in this plan.

 

 

What happens if?

 

You stop paying the premium - 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.

 

You want to surrender the policy – There is no Surrender Benefit in this plan

 

You want a loan against your policy – There is no Loan Facility under this plan

 

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