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Reliance Term Plan

Reliance Term Plan is a pure term plan non-linked and non-participating in nature. The plan provides high coverage at affordable rates thus enabling the customer to avail a high protection cover for securing his family

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Key Features

It is a pure term plan with minimal rates of premium
Option of availing 5 riders to customize the cover

Benefits

There is no Maturity Value under the plan
On Death, the Sum Assured is paid to the nominee.
Income tax benefit on the premium paid as per Section 80C and on the claim received as per Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	21 years	60 years
Maturity Age (Last Birthday)	26 years	65 years
Policy Term (PT) in years	5 years	30 years
Premium Paying Term (PPT) in years	Equal to policy term
Premium Paying Frequency	Annual, half-yearly, quarterly
Yearly Premium	2000	No limit
Sum Assured	500,000	No limit

Policy Details

Grace Period: 30 days grace period is allowed for payment of premium. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: there is no Surrender Benefit under the plan
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

Reliance Major Surgical Benefit Rider
Reliance Critical Conditions (25) Rider
Reliance Family Income Benefit Rider
Reliance Accidental Death and Total and Permanent Disablement Rider (Regular Premium)
Reliance Accidental Death and Total and Permanent Disablement Rider (Limited Premium)

Exclusions

If the insured commits suicide within 12 months of policy inception, the company only pays 80% of the premium paid to the nominee

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

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