Reliance Term Plan offers a large life insurance cover, at an affordable premium. While nothing can compensate loss of life, we intend to provide you peace of mind.
Eligibility Criteria | ||
Minimum | Maximum | |
Age at Entry (Years) | 21 | 60 |
Age at Maturity (Years) | 26 | 65 |
Policy Term (Years) | 5 | 30 |
Premium Payment Term (Years) | Equal to policy term | |
Premium (Rs) | Rs 2000* | No limit |
Premium Payment Modes | Mode | Loading Rate |
Yearly | 0% | |
Half-yearly | 2% | |
Quarterly | 4% | |
Sum Assured (Rs ) | 5,00,000 | No limit |
Premium Payment mode | Yearly, Half-yearly or Quarterly mode | |
Note - All references to age above are as on last birthday. *Minimum installment premium is ` 2,000 for any mode. |
Feature | Description | |||||
---|---|---|---|---|---|---|
Policy Fee | ||||||
Premium Mode | Policy Fee Addition (Rs) | |||||
Yearly | 500 | |||||
Half-yearly | 260 | |||||
Quarterly | 130 | |||||
Premium Discontinuance | Reliance Accidental Death and Total and Permanent Disablement Rider (Limited Premium)) shall not exceed 100% of the premiums paid under the Base Plan; and the sum of all other rider premiums | |||||
Surrender | The policy does not acquire any Surrender Value | |||||
Loan | Loan facility is not available under the plan | |||||
Grace period | If you are unable to pay your premium by the due date, you will be given a grace period of 30 days. During the grace period the policy shall continue to remain in force along with all benefits under this policy and claim, if any, shall be payable subject to deduction of the unpaid due premium. | |||||
Revival | The riders for its full coverage within 2 years from the due date of the first unpaid premium but before policy maturity, by paying all outstanding premiums together with the interest. | |||||
The current rate of interest is 9% p.a. and is subject to change from time to time. | ||||||
If a lapsed Policy is not revived within the revival period, the Policy will be terminated with no benefits payable. A terminated policy cannot be reinstated. |
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of reinstatement of the Policy, the Policy shall be void and the Company will only be liable to pay the higher of 80% of premiums paid or the surrender value.
Tax benefits will be as per prevailing tax laws. Tax laws are subject to change.
Know claim process of Reliance Life Term Plan
Reliance Life Insurance is a part of Reliance Capital of the Reliance Group. Reliance Capital is one of India's leading private sector financial services companies, and ranks among the top private sector financial services and non-banking companies, in terms of net worth. Nippon Life Insurance Company acquired 26% interest in equity share capital of the Company effective October 7, 2011 subsequent to receipt of all regulatory approval.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.