• Reliance Term Insurance

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    Reliance Term Insurance plan 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 online life insurance plan 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 Term Plan 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

    Reliance Term Insurance Reviews

  • Page 1 of 10 1 2 3 4 5
    • Reliance Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken one money back policy and other policy is child plan from Reliance. The services are excellent. The customer support was very good. The policy coverage and benefits are quite better. The tenure period is 20years and 10years. I used to pay per annum 39K through net banking.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 15, 2018
    • Reliance Life Life Insurance
      "Better policy to use"
      0.5 2.0/5 "Expected more"
      I have got the Life insurance policy from the RELIANCE LIFE INSURANCE company around a year ago. The customer support service is average with the RELIANCE LIFE INSURANCE company and they are not giving proper response to the customers. This policy has the tenure of 20years. I pay the premium of Rs,35000 every year to this policy.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Feb 12, 2018
    • Reliance Life Life Insurance
      "Better policy to use"
      0.5 3.0/5 "Satisfactory"
      I have got the life insurance policy with the RELIANCE LIFE INSURANCE company and I have got this policy around 3 years ago. This policy has the tenure of 10years . The customer support and the response is good with the RELIANCE LIFE INSURANCE. I pay the premium of Rs,60,000 per year,
      Was this review helpful? 0
      , narasaraopeta
      Reviewed on Jan 31, 2018
    • Reliance Life Life Insurance
      "Customer Service is good"
      0.5 5.0/5 "Blown Away!"
      The reason I took this Insurance was that they offered me a clear picture about the Insurance that I was taking. I have been paying Rs.24000 yearly and have taken a Money Back plan. Every 3 years I will be getting an amount. And after the maturity period of 15 years I will be getting a bulk amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 06, 2017
    • Reliance Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      Around a year Ago I got the life insurance policy with reliance and the service is very good. The customer support was good with Reliance service. The premium of Rs.47000 per year . The plan benefits and the coverage is good with this policy..
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 15, 2017
    • Reliance Life Life Insurance
      "Good "
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Reliance life insurance company and the customer service is good , also I have not faced any issues with them till now. Policy coverage and the plan benefits are really working up to the mark.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 15, 2017
    • Reliance Life Life Insurance
      "Not a good policy to use"
      0.5 2.0/5 "Expected more"
      I am holding a life insurance policy of Reliance from last 6 years. this life insurance policy has notto be renewed every year. I had a bad experience with this policy, the customer service was average, they did not keep up their words. The benefits and coverage in this policy is also not up to the mark.
      Was this review helpful? 0
      , ranchi
      Reviewed on Nov 11, 2017
    • Reliance Life Life Insurance
      "Better Policy to use"
      0.5 4.0/5 "Great!"
      I got the life insurance policy with Reliance life. I have this policy for past 2years. The customer support is good with Reliance life. This policy has the tenure of 15years. The premium of Rs,12000 every 6months once. The plan benefits and the coverage's are good with this policy.
      Was this review helpful? 0
      , guntur
      Reviewed on Nov 11, 2017
    • Reliance Life Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was been a very long time I have taken the life insurance service with RELIANCE the documents have been collected from my door step and the payments where through ecs and I have taken three policy with RELIANCE it was a good experience with RELIANCE for my life insurance service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • Reliance Life Life Insurance
      "Life insurance with Reliance"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with RELIANCE LIFE INSURANCE.Yearly i have to pay 30000.The maturity period is for 10 years. But we have to pay only for 7 years and after 10 year they will provide some amount with some rate of interest. I will make the payment through my credit card.
      Was this review helpful? 0
      , madurai
      Reviewed on Nov 09, 2017
    • Reliance Life Life Insurance
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      I am having the Reliance term life insruance policy and I been with them from the last three years of time. I would like to say that the customer service pretty good like I would like to say everything is online services as of now.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 08, 2017
    • Reliance Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I am holding Reliance life insurance policy from last 2 years, i have to renew this life insurance policy every year. The premium amount which i pay is Rs 2500 on annual basis through ECS. There was no much interaction with the customer service team. The benefits and coverage are also good in this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 07, 2017
    • Reliance Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the life insurance policy with the Reliance life insurance company and they are having excellent customer service. I would like to say that the policy coverage value and the premium value is an excellent one.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Nov 04, 2017
    • Reliance Life Life Insurance
      "Good investment"
      0.5 4.0/5 "Great!"
      I had Life Insurance taken up to take care of my Kids future. I have been paying Rs.12000 every year, and feel the investment to be very important. The company has good policies and have heard good stories about the claim record about Reliance Life Insurance.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Oct 29, 2017
    • Reliance Life Life Insurance
      "Average Policy to use"
      0.5 4.0/5 "Great!"
      I have the Reliance life insurance policy from since 2012 . This policy has the tenure of 10years. I pay the premium of Rs,20,000 per annum. The plan benefits and the policy coverage is average with Reliance life insurance policy. I would say it is an average policy to use.
      Was this review helpful? 0
      , jorhat
      Reviewed on Oct 29, 2017
    • Reliance Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      Recently I got the life insurance policy with reliance life. This policy has the tenure of 20years. The premium of Rs,46,000 I pay towards this policy and it has good coverage benefits and I am satisfied having the life insurance policy with Reliance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
    • Reliance Life Life Insurance
      "On a decline"
      0.5 4.0/5 "Great!"
      For some reason Reliance Life Insurance is on a decline for the past few years. It has considerably reduced the coverage. The customer services needs a whole lot facelift. Also the plan benefits and Policy Coverage is not that great. Could improve a lot.
      Was this review helpful? 0
      , agra
      Reviewed on Oct 10, 2017
    • Reliance Life Life Insurance
      "Expectant"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Reliance life insurance company and the coverage value is good one and their plan benefits are also good. However am little sceptical for the return asssurances and long term consistacy of the offerings. Expect them to deliver the assurances!!
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 23, 2017
    • Reliance Life Life Insurance
      "Good in service. Benefits can be better"
      0.5 5.0/5 "Blown Away!"
      I had taken a term plan with Reliance life insurance, but I am planning to close the same as they are not that beneficial in the claim settlement ratio when compared to LIC. I do not have to pay any charges for closing my policy too. Else the customer services was good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 22, 2017
    • Reliance Life Life Insurance
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      Service from RELIANCE was very good ,if I contact their representatives they will be very responsible . offers and schemes which they provide was also very good ,I can say overall service was very good from RELIANCE ,I am very happy with the service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Sep 19, 2017
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