Reliance Term Insurance offers pure life cover with customizable and affordable solutions, ensuring financial security for your family. Choose between Reliance Online Term, Reliance Online Income Protect, and Reliance e-Term Plan for superior coverage and flexible benefits.
Reliance Online Term Plan
Reliance Online Income Protect
Reliance e-Term Plan
Reliance Term Plan Classic
Plan Name | Basic Parameters | Key Features |
Online Term | Entry Age: 18–55Policy Term: 10–35 yrsSum Assured: ₹25 lakh+Premium From: ₹3,500/year | Large cover, low premium |
Online Income Protect | Entry Age: 18–55Policy Term: 10–35 yrsSum Assured: ₹35 lakh+Premium From: ₹3,500/year | Regular income benefit |
e-Term | Entry Age: 18–60Policy Term: 10–30 yrsSum Assured: ₹35 lakh–₹1 crPremium From: ₹3,500/year | Instant online policy |
Term Plan Classic | Entry Age: 21–60Policy Term: 5–30 yrsSum Assured: ₹5 lakh+Premium From: ₹2,000/year | Flexible payments |
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
Women Policyholders have an advantage as they receive discount on the premiums paid. For the basic Policy, basic premium payable will be equivalent to the premium for a three-year younger male Policyholder.
Premiums paid are eligible for tax deduction under Section 80C of the Income Tax Act, 1961. Death Benefit is tax free under Section 10 (10D) of the Income Tax Act, 1961. Under Section 80C, premiums paid upto ` 1,00,000 are allowed as deduction from your taxable income.
The Policy will lapse if the premiums are not paid within the grace period. The grace period is one month but not less than 30 days. However, you have the option to revive the Policy within three years from the date of lapse subject to revival conditions. The Policy is not eligible for any Paid-up or Surrender Value.
Anyone, male or female, who is 21 years to 60 years at the age old at entry can buy this product. The maximum age of maturity for Reliance is 65 years.
The premium can be paid on a quarterly, half-yearly, or annual basis, depending on the convenience of the policyholder.
The Company will not pay any claim on death if the Life Assured, whether sane or insane, commits suicide within 12 months from the date of issue of this Policy or the date of any reinstatement of this Policy.
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