Reliance Life Insurance Company Limited.Reliance Term Insurance
Reliance Insurance provides a wide range of term plans. Reliance term insurance plans cover the risk of death, so the sum assured is paid only in case of death during the policy term. There is no maturity in the term plans. The plans are available in the online and offline modes.
Reliance Insurance e-term Plan:
This is an online term insurance plan. The premium of this plan is cheaper as compared to offline term plans. The minimum sum assured is Rs.25 lakhs. The policy term can be selected between 10 to 30 years. The maximum entry age for the plan is 60 years and the maximum maturity age is 70 years. The sum assured is paid to the nominee in case of death during the term and the plan does not have any maturity benefits.
Reliance Insurance Term Plan:
This is pure term insurance plan and is available in offline mode only. There is no limit for maximum sum assured under this plan. The maximum entry age for the plan is 60 years and the maximum maturity age is 65 years. Accidental death and disability rider is also available with this plan with an option of waiver of premium. There is no maturity benefit in this plan.
Reliance Insurance Simple Term Plan:
This is pure term insurance plan with a fixed sum assured of Rs. 10,000 and fixed term of 3 years. The premium varies depending upon the age. The maximum age of entry in this plan is 44 years. The sum assured is paid only incase of death within 3 years of policy term.
Reliance Insurance Special Term Plan:
This is return of premium term insurance plan, where all the basic premiums are paid back to you if you survive till maturity of the policy. Incase of death during the policy term, the sum assured is paid to the nominee. The minimum policy term is 5 years and maximum term is 30 years. Critical illness, Accidental death and disability riders are also available with this plan.
Reliance Insurance Credit Guardian Plan:
This is a decreasing term insurance plan for covering your loan (home loan, personal loan, etc.). The sum assured of the plan decreases over the period as the outstanding loan amount also decreases. This plan has a limited premium paying term and also has single premium payment option. In case of death, the decreases sum assured as on date of death is paid to the nominee, which can be used to repay the outstanding loan.
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