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?

Feature	Specification
Age (as on last birthday)	Minimum: 18 Years Maximum:55 Years
Age at Maturity	75 Years
Policy Tenure	Minimum: 10 Years Maximum: 35 Years
Sum Assured	Minimum: 25 Lacs Maximum: No Limit (subject to underwriting)
Premium Paying Term	Same as policy term Years
Premium Paying Mode	Annually Only
Maturity Proceeds	Nil
Plan Type	Online
Grace Period	30 Days

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.)