Monday, April 28, 2014

Reliance Life Rolls-Out Online Term Plan

Reliance Life Insurance Company (RLIC), a part of Anil Ambani's led Reliance Capital on Monday announced the launch of 'Online Term', an online life insurance plan at an affordable premium.

In a company release issued in Mumbai, Reliance Life Chief Executive Officer Mr. Anup Rau said, “Online Term is a simple life protection product that is based on - adequate cover and people should be able to buy it with ease. Our new offering empowers customers to make an informed choice vis-a-vis their liabilities and protect their family's financial future at a minimal cost."

With the launch of this plan, we aim to provide the most affordable online term life insurance plan, he added.

A man of 25-years old (non-smoker) can buy this plan with sum insured of Rs 1 crore for just paying an annual premium of about Rs 5400 for the term of 15 years. However, Online Term plan comes with a minimum annual premium of Rs.3,500.

The minimum age to enter into this plan is 18 years and the maximum age is 55 years with a minimum policy term of 10 years and a maximum of 35 years. The maximum maturity age is 75 years.
Online Term begins with a minimum cover of Rs.25 lacs and provides relatively lower premium rates for women and non-tobacco users.

No comments:

Post a Comment

So, what do you think?