Reliance Life Insurance
  • 5 Reasons to buy
  • Benefits
  • How this plan works
  • FAQ

Reliance e-Term Plan is an online life insurance plan that offers you a large life insurance cover at affordable premiums in just a few clicks. It is easy to buy and even your medical tests can happen at the comfort of your own home.

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Get easy and affordable protection
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Get adequate cover based on your life stage & liabilities
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Protect your family against unforeseen circumstances
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Experience a simple enrollment process
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Get medical tests done at your doorstep

  • Flexibility to choose protection cover based on your needs:
    • Option I: Death Benefit equal to Sum Assured
    • Option II:
      a) In the event of death of the Life Assured: Death Benefit equal to Sum Assured
      b) In the event of death on account of an accident: An additional amount equal to the Sum Assured
  • Apply through a simple online application process
  • Purchase insurance cover at an affordable premium
  • Enjoy tax benefits as per applicable tax laws

Plan At A Glance

Parameters Minimum Maximum
Age at entry (Years) 18 (last birthday) 60 (last birthday)
Age at maturity (Years) 28 (last birthday) 70 (last birthday)
Policy term (Years) 10 30
Premium Payment Term (Years) Equal to policy term
Sum Assured (Rs.) 25,00,000 Option I: No limit
Option II: 1,00,00,000
Premium payment options Yearly

Benefits in detail

Maturity Benefit
On survival of the Life Assured till the end of the policy term, no amount is payable. All benefits under the Policy ends and policy is terminated.

  • Premium payment
    You need to pay premiums regularly. This plan allows annual premium payment 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

    There is a grace period of 30 days from the due date for payment of regular premiums.

  • Premium Discontinuance

    If the premiums are not paid within the grace period, the policy will lapse.

  • Revival

    The policy can be revived up to 2 years from the date of lapse.

    A policy can be revived during the revival period of 2 years by paying the arrears of premiums under the policy with interest at prevailing rate of interest. 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.

  • Surrender

    The policy does not acquire any surrender value.

Death Benefit

On death of the Life Assured during the policy term provided the policy is in-force as on the date of death, depending on the plan option chosen at inception of the policy, the following benefits will be paid to the nominee as a single lump sum:

Option I Option II
Death Benefit equal to Sum Assured a) In the event of death of the life assured: Death benefit equal to Sum Assured
b) In the event of death on account of an accident: Sum Assured plus an additional amount equal to the Sum Assured will be paid
The additional amount of Sum Assured in the event of accidental death will not exceed Rs. 1,00,00,000

The Policy will terminate on payment of the Death Benefit.

Disclaimer

For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Reliance eTerm Plan - 121N087V02

Ranjit, aged 35, is an IT professional who lives with his wife, Ashmita, who is a homemaker and a lovely 3 year old daughter, Anushka.

Ranjit's family recently moved into their own house. They are delighted that their long cherished dream has finally become a reality. However, Ranjit has to pay a considerable home loan EMI and is worried about the repayment of such a large loan in case of an eventuality, given that his wife and young daughter are financially dependent on him. Also, he is concerned about how will the financial needs of his family be taken care of, in case he is not around.

He shares his concerns with his friend, Amit, who suggests that he should take a life cover policy. Ranjit does an online search and opts for Reliance eTerm Plan. He enrolls for the life cover in three easy steps:

Step 1: He selects the Plan Option, Policy Term and Insurance Cover (Sum Assured) and gets a quote

Step 2: He fills up his personal and health details in a simple online application form

Step 3: He makes the premium payment online and uploads the required documents

A medical test gets conducted at the time and place of his convenience. Based on his application, his policy gets issued with the applied life cover.

Ranjit is now relieved as he has adequately secured himself against any unforeseen events.

3 years later:

Ranjit meets with an unfortunate accident and passes away. It takes his wife, Ashmita, some time to come to terms with the reality that Ranjit is no longer around and she alone has to take care of their daughter, Anushka. Ashmita approaches the nearest branch of Reliance Life Insurance with Ranjit's Policy Document.

The branch's customer care executive helps her in completing the necessary claim forms, gives her the acknowledgement immediately and forwards the documents to the claims department.

Ashmita is worried about how she will provide for her family's needs and Anushka's education expenses. However, within a few days the claim amount cheque of Ranjit's eTerm Policy is delivered to Ashmita at her home.

She is overwhelmed with relief. While her emotional gap can never be filled, she can now provide for Anushka's education and marriage, as planned with Ranjit.

Disclaimer

For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Reliance eTerm Plan - 121N087V02

What happens if I discontinue paying premium?

The Policy will lapse if the premiums are not paid within the grace period. The grace period is 30 days from the due date of the payment of regular premium. However, you have the option to revive the Policy within two years from the date of lapse subject to satisfactory medical and financial underwriting.

A policy can be revived during the revival period by paying the arrears of premiums under the base plan with interest at prevailing rate of interest. The current rate of interest is 9% p.a. This will be further subject to satisfactory medical and financial underwriting, i.e. the Life Assured may have to undergo medical tests, etc. The Policy is not eligible for any Paid-up or Surrender Value

Premium Payment

All Premiums could be paid by any of the following modes:

  • Internet banking facility as approved by the Company from time to time
  • Debit/Credit cards of the life assured

Amount and modalities will be subject to Company rules and relevant legislations or regulations.

 
Disclaimer

For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Reliance eTerm Plan - 121N087V02

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