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This plan has been withdrawn by the insurance company and is no longer available for sale.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

COMPARE THIS PLAN WITH OTHER TERM PLANS
    Yes
    No


     

    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.
     

    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.

    HAVE ANY DOUBTS THAT NEED TO BE CLARIFIED?

    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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