Reliance Term Insurance

is a pure life insurance that offers affordable and comprehensive coverage for a limited period, according to the policyholder’s requirements. Reliance Term Plan offers different policies namely Reliance Online Term, Reliance Online Income Protect, and Reliance e-Term Plan.

Types of Reliance Term Plans:

Here are the different policies under the Reliance Term Insurance plan:

  1. Reliance Online Term
  2. Reliance E-Term Plan
  3. Reliance Online Income Protect
  4. Reliance Term Plan
Reliance Term Plan

Reliance Term Plan offers a large life insurance cover, at an affordable premium, offering family protection against unforeseen events that may drastically change the family’s lifestyle, in the policyholder’s absence.

Parameters

Minimum

Maximum

Age at entry (years)

21

60

Age at maturity (years)

26

65

Policy term (years)

5

30

Premium payment term

Equal to policy term

Premium

Rs.2000

No limit

Sum assured

Rs.500,000

No limit

Premium payment mode

Yearly, half-yearly or quarterly mode

Reliance Online Term

Reliance Online Term is an ideal plan for today’s generation. It provides a large cover at an affordable rate along with complete financial protection at lower premiums.

Parameters

Minimum

Maximum

Age at entry (years)

18

55

Age at maturity (years)

28

75

Policy term (years)

10

35

Premium payment term

Equal to policy term

Premium

Rs.3,500

No limit

Sum assured

Rs.25,00,000

No limit

Premium payment mode

Annual payment

Reliance Online Income Protect

Reliance Online Income Protect is a comprehensive protection plan that not only provides a lump sum in case of any eventuality to meet immediate liabilities, but also provides the policyholder’s family with a regular monthly income to ensure that they maintain the same standard of living. It provides complete financial protection at an affordable rate

Parameters

Minimum

Maximum

Age at entry (years)

18

55

Age at maturity (years)

28

75

Policy term (years)

10

35

Premium payment term

Equal to policy term

Premium

Rs.3,500

No limit

Sum assured

Rs.35,00,000

No limit

Premium payment mode

Annual payment

Reliance E-Term Plan

Reliance e-Term Plan is an that offers you a large life insurance cover at affordable premiums in just a few clicks. It is easy to buy and even your medical tests can happen at the comfort of your own home.

Parameters

Minimum

Maximum

Age at entry (years)

18

60

Age at maturity (years)

28

70

Policy term (years)

10

30

Premium payment term

Equal to policy term

Sum assured

Rs.35,00,000

Option 1: No limit

Option 2: Rs.1,00,00,000

Premium payment mode

Annual payment

Key Features and Benefits of Reliance Term Insurance Plan:

  • Higher insurance protection at economical rates

  • Offers life cover benefit

  • Optional accidental and disablement rider

  • Suitable for business owners who want to cover lives of their employees

  • Discount on premium rates for women

Example of Reliance Term Plan:

Ram, aged 30 pays a premium every year for the entire Policy Term. On his death, his Beneficiary will get the Sum Assured.

Reliance Term Plan FAQs:

1.Q. What are the advantages for women policyholders?

A.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.

2.Q. Is there tax benefit for this insurance policy?

A.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.

3.Q. What happens if I discontinue paying premium?

A.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.

4.Q. Who can buy this product?

A.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.

5.Q. Are there any flexible payment modes?

A.The premium can be paid on a quarterly, half-yearly, or annual basis, depending on the convenience of the policyholder.

6.Q. Are there any exclusions in the policy?

A.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.

Other Products from Reliance Group

This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

 4.0 / 5.0   by 227 users
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Plan Benefits

Payment Options

Policy Coverage

Customer Service

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Reliance Term Insurance Reviews

Page 1 of 12 1 2 3 4 5
  • Reliance Life Life Insurance
    "Good Service"
    0.5 4.5/5 "Excellent!"
    I have taken Life Insurance policy through Reliance agent directly .I have got all the policy details very clearly through the agent.This was a Maturity benefit policy and got the policy documents on time ,I have got my policy documents on time and the policy tenure is for 10 years ,I am paying the premium through Online only.
    Was this review helpful? 0
    , indore
    Reviewed on Oct 10, 2019
  • Reliance Life
    Reliance Life Life Insurance
    "Good services"
    0.5 5.0/5 "Blown Away!"
    Manappuram had a tie up with a Reliance life insurance hence i was working over there, i took the policy from them. I have no idea about the premium amount. I used to pay the premium through online. They are providing a cover of death and accidental.
    Was this review helpful? 0
    , erode
    Reviewed on Sep 24, 2019
  • Reliance Life Life Insurance
    "Good plan to protect the family"
    0.5 4.0/5 "Great!"
    I used to make Rs.50,000 per annum it has the maturity period of 12 years. Later on they give sum assured along with the recovery amount and it has the tax cover. Reliance customer support is very responsive and they do have financial security for the family.
    Was this review helpful? 1
    , madurai
    Reviewed on Sep 20, 2019
  • Reliance Life Life Insurance
    "Better"
    0.5 3.0/5 "Satisfactory"
    I have taken a cash pro policy and the main thing is every 4 years, I will be receiving good return. The response was very low nowadays, I would suggest them to improve the service. The benefits are average. They have charged me around 15K per annum.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Sep 17, 2019
  • Reliance Life Life Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I am paying premium of 50K per year through online. I have availed a term plan which is also same as money back. Reliance is doing better service. If any accidental or death happens, my family will be getting the maturity amount. It was taken 3 years ago.
    Was this review helpful? 0
    , faridabad
    Reviewed on Sep 17, 2019
  • Reliance Life Life Insurance
    "Good Service"
    0.5 3.5/5 "Pretty good"
    I have taken Life Insurance policy through Reliance which was applied through Online .I have purchased this policy before 2 months only.This policy tenure is for 30years .I have got all the details about tis policy through the agent .I have got the policy documents on time .I have paid the premium through online and next premium i will be payig through cheque .
    Was this review helpful? 0
    , mathura
    Reviewed on Sep 01, 2019
  • Reliance Life Life Insurance
    "Not satisfied with the policy"
    0.5 5.0/5 "Blown Away!"
    One of my friend has recommended me about the life insurance policy from Reliance. I have paid the premium amount which is convenient for me. I have closed the policy before the maturity because it got loss since it was a market based insurance policy.
    Was this review helpful? 0
    , chennai
    Reviewed on Aug 27, 2019
  • Reliance Life Life Insurance
    "Good Policy."
    0.5 5.0/5 "Blown Away!"
    One of my friend is working as a reliance life insurance policy hence i have taken the same. Its a equity kind of policy based on the share market hence i get a good benefits. Every month, i pay the premium amount of Rs. 612 for the term period of 15 years. Through online and agent, i pay my premium amount.
    Was this review helpful? 0
    , kolkata
    Reviewed on Aug 17, 2019
  • Reliance Life Life Insurance
    "Need a lot of transparency"
    0.5 1.5/5 "Bad"
    I had money back policy with Reliance and the tenure period was 5 years. I paid that and agent told me that I will be benefited from 6th year but when I approached the office. It was totally miscommunication and the locking period was 23 years. I made online payment.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jul 20, 2019
  • Reliance Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    From Reliance, i have purchased a life insurance couple of years before. I have chosen the monthly payment mode. I pay the premium amount of Rs. 5000. They have provided me a term of 10 years. I am paying the premium through online. Overall, i'm satisfied with their services.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 13, 2019
  • Reliance Life Life Insurance
    "GOOD POLICY"
    0.5 5.0/5 "Blown Away!"
    I have purchased the TERM PALN with RELIANCE LIFE INSURANCE and using from last 6 months and the premium paying for 15 years where the premium paying through ECS monthly once. The customer support is good also the documentation process was simple done through offline.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jun 27, 2019
  • Reliance Life Life Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have selected Reliance life insurance coverage is 20 lakhs for self coverage and accident death coverage applicable 5 lakhs applicable. iam paying amount through annual mode Rs 54,000 and Maturity amount will be double .Documents submitted through executive.
    Was this review helpful? 0
    , mohali
    Reviewed on Jun 09, 2019
  • Reliance Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have purchased the life insurance policy with the RELIANCE LIFE INSURANCE for recently, the agent had clearly explain me about the plan benefits, policy coverage etc, the premium amount i use to pay on yearly basis, i use to pay premium directly to agent , their service is good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 06, 2019
  • Reliance Life Life Insurance
    "GOOD"
    0.5 3.5/5 "Pretty good"
    I have purchased the life insurance policy with the RELIANCE LIFE INSURANCE and using it since from last 7 years where the policy has the maturity period of 20 years. The premium have t pay for yearly once with this policy, and it has the self coverage.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 15, 2019
  • Reliance Life Life Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have purchased the PENSION plan with the RELIANCE LIFE INSURANCE where the policy have the maturity period till 62 years and the premium paying for yearly once also it is the good policy to use. The customer support is good with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on May 14, 2019
  • Reliance Life Life Insurance
    "Good in all"
    0.5 5.0/5 "Blown Away!"
    I also have a life insurance with Reliance life insurance. It is also a corporate policy. The plan benefits and the policy coverage is good. The premium is deducted from my salary. The sum assured is for 25 lakhs. In all a very good experience till date.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 16, 2019
  • Reliance Life Life Insurance
    "Good for family protection"
    0.5 4.0/5 "Great!"
    I have term plan from Reliance Life, I used to pay the premium around Rs. 6000 on monthly basis. Its also include the medical cover for the critical illness. In any certain demise, my nominees will get the sum assured of Rs.25 lakhs and it has separate accidental cover too.
    Was this review helpful? 0
    , mumbai
    Reviewed on Apr 14, 2019
  • Reliance Life Life Insurance
    "Good benefits before and after tenure period"
    0.5 4.0/5 "Great!"
    I pay Rs. 50,000 of premium for the Life insurance product, it has the tenure of 7 years, its good for the tax saving, After maturity I would be getting sum assured and also other benefits as my small cap as per the market growth, the payment option is really good with them. Initially I invested in Reliance Capital but it merge as life policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Apr 09, 2019
  • Reliance Life Life Insurance
    "Good Insurer"
    0.5 4.0/5 "Great!"
    Yearly I pay the premium of Rs. 3406 it has the term of 15 years. I took the cash back policy, every 3 years I get around Rs. 7000 as bonus interest, the benefits are good it helps to save my tax and they have life coverage for certain demise. After 15 years I get good sum assured, even I got my policy bond.
    Was this review helpful? 0
    , bangalore
    Reviewed on Mar 21, 2019
  • Reliance Life Life Insurance
    "Need scope of improvement"
    0.5 3.0/5 "Satisfactory"
    I have life insurance policy with Reliance, I believe the customer support is not upto the mark. I told them while getting the policy activation my ecs should be after 15th but they deducted money on 13th. Its not fair, premium is low for the term of 12 years. The tax benefits and life coverage are good.
    Was this review helpful? 0
    , chennai
    Reviewed on Mar 21, 2019
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