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Reliance Life Online Term Plan

What is the Plan all About?

Reliance Online Term is an ideal insurance solution for the present generation. It offers you with an extensive e cover at a lower cost, with the suitability of buying it online which is a hassle free process. This plan is a simple term life insurance plan with an intention to provide financial benefits to your loved ones in your absence.

What are the Key Features?

Flexibility to determine Sum Assured based on your needs

Rewards for healthy lifestyles by offering lower premiums

Simple and convenient online application process

Option to get medical tests done on your doorstep

What are the Plan benefits?

  • Death Benefit:

In the event of the death of the Life Assured during the policy term, the nominee is entitled to receive as death benefit is maximum of:

  • Sum Assured;
  • or 10 times Annualised Premium;
  • or 105% of the premiums paid as on the date of death, excluding underwriting extra premiums, if any.

The policy will be terminated once the death benefit is paid.

Who can Buy the Plan?

Factor Minimum Maximum
Age (as on last birthday) 18 Years 55 Years
Age at Maturity - 75 Years
Policy Tenure 10 Years 35 Years
Premium Paying Term Same as policy term Years
Premium Paying Mode Annually Only
Sum Assured 25 Lacs No Limit (subject to underwriting)
Maturity Proceeds

Nil

Plan Type Online

Is any Rider Available with this Plan?

There are no riders benefits  available with this plan.

Premium Illustration

Sample illustration of the Premium Amount for an individual of  age 25, 30 and 35 years, opting for a Life Cover of Rs 50 lacs or Rs 1 crore as Sum Assured and 25 years as Policy Tenure.

 

 

25 years

30 years

35 years

Sum assured = Rs. 1 crore

Rs. 6,429

Rs. 7,230

Rs. 10,260

Sum assured = Rs. 50 lacs

Rs. 3,522

Rs. 3,919

Rs. 5,469


(Note: Premium amount is for a non smoker individual keeping good health conditions at the time of buying this insurance plan)

Is the Plan, eligible for Tax Benefit?

Reliance Life online Term Plan is eligible for Tax benefits as stated:

  • Premiums paid qualify for tax benefits as per Section 80C of the Income Tax Act, 1961.
  • Death benefit(s) are entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

(Subject to the provision stated therein.)

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