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Reliance Nippon Life Online Term Plan



A non-linked, non-participating, term insurance plan

We live in an age of experience, be it a bigger house or a better car. To fulfill our desires for a better lifestyle we take more loans, resulting in higher liabilities. The bigger house or the car is not an asset anymore. You want to give your family the best of comforts in life, but what if you are not around? In the case of an unfortunate incident, your family would have to not only struggle to keep up the improved lifestyle, but would also have to deal with settling the huge liabilities. Getting adequate insurance cover that protects your family from a loss of income, repayment of liabilities and protection of your assets has become essential. Reliance Nippon Life Online Term Plan is an ideal plan for today’s generation. It provides you a large cover at an affordable rate along with the convenience of purchasing it online in just a few clicks. What’s more, even your medical tests can be done in the comfort of your own home.

5 Reasons to Buy

  • Get adequate cover based on your life-stage & liabilities
  • Get adequate cover based on your life-stage & liabilities
  • Protect your family against unforeseen circumstances
  • Experience a simple online application process
  • Get medical tests done at your doorstep

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Disclaimer *All medicals except treadmill test at applicable locations. T&C apply. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Reliance Nippon Life Online Term 121N099V01

Key Benefits

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Flexibility

Flexibility to decide protection cover based on your needs

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Financial Protection

Complete financial protection at an affordable cost

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Lower Premiums

Rewards for healthy lifestyle through lower premiums

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Simple Process

Simple & hassle-free application process

Tax

Tax Benefits

Income Tax benefits as per applicable tax laws

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Convenience

Simplified medical examination process

*Arrangement of medical examination process as per preferred day and time opted by the Life Assured is done by a medical practitioner/representative at Life Assured’s doorstep (wherever applicable). These medical test expenses are borne by the Company at inception of the policy.

Reliance Nippon Life Online Term at a glance

Parameters

Minimum

Maximum

Age at entry (Years)

18 (last birthday)

55 (last birthday)

Age at Maturity (Years)

28 (last birthday)

75 (last birthday)

Policy Term (Years)

10 | 15 | 20 | 25 | 30 | 35

Premium Payment Term (Years)

Equal to Policy Term

Sum Assured (Rs)

25,00,000

No limit

Premium (Rs)

3,500

No limit

Premium Payment Mode

Annual
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Benefits

Death Benefit
In the unfortunate event of demise of the Life Assured during the Policy Term and provided the Policy is in-force as on date of death, the nominee will receive the maximum of:

  • Sum Assured; or
  • 10 times Annualised Premium; or
  • 105% of the premiums paid as on date of death, excluding underwriting extra premiums, if any
  • The policy will be terminated once the death benefit is paid

Maturity Benefit
No Maturity Benefit is payable under this plan.




Other Features

Rewards for healthy lifestyle
You will be eligible for lower rates if you are a non-smoker and have opted for a Sum Assured of Rs.50 lakhs or more. You will be eligible for a further rebate in premiums if you are currently in an excellent health condition.

  • Flexibility in premium payment
    This is a regular pay plan, the premiums are payable every year during the Policy Term. This plan allows annual premium payment mode only. Below are sample annual premiums for a male aged 35 years at Rs.1 crore Sum Assured:

    Policy Term (Years)

    15

    20

    25

    30

    35

    Premium (Rs)*

    7,680

    8,415

    8,961

    9,278

    9,540

    *Annual premium for non-smoker excluding Service Tax and education cess. Further the above rates are subject to underwriting and an extra premium may be levied.
    Premiums can be paid by electronic mode only. Premiums can be paid by any of the following modes:
    a) Internet banking facility as approved by the Company from time to time.
    b) Debit/Credit cards of the Life Assured.
    Amount and modalities will be subject to Company rules and relevant legislations or regulations.

  • Grace period for payment of premiums
    If you are unable to pay your premium by the due date, you will be given a grace period of 30 days.
  • Premium Discontinuance
    If you do not pay your premiums within the grace period, your Policy will lapse and all insurance benefits will cease immediately.
  • Revival
    You can revive your Policy for its full coverage within 2 years from the due date of the first unpaid premium by paying all outstanding premiums together with the interest, as declared by us from time to time. The current rate of interest is 9% p.a. and is subject to change from time to time. Revival of the policy is subject to satisfactory Board approved underwriting of the Life Assured, i.e., the Life Assured may have to undergo medical test, etc.
  • Surrender
    The policy does not acquire any Surrender Value.


Source: Reliance Nippon Life Insurance Company Limited Website
Reliance Securities is a distributor of Mutual Funds, Portfolio Management Services(PMS), Corporate Fixed Deposits, Bonds/NCDs, Insurance, IPOs, Structured Products and Loans.