In today’s world where there are numerous uncertainties, it is important to provide a financial umbrella to your family members in case you are no longer around to take care of their needs. This is exactly why you need to consider getting a suitable Reliance life insurance plan at the earliest.
Regardless of whether you are looking for a whole life protection life coverage plan, savings & investments life insurance policy, a health life insurance coverage, ULIP based life plan, child plan, retirement life insurance plan, or something else, you can rely on Reliance life insurance products to get what you need.
Reliance Life boasts of a 95.01% Claim Settlement Ratio in accordance to the IRDAI Annual Report 2014-15, thus leading to it being known as a reliable organisation. Here, we aim to give you a quick insight into the perks and features of some popular Reliance life insurance plans available on the racks for you.
Perks of Reliance Life Insurance
1. Reliance Online Term Plan
The oft-purchased Reliance term plan online offers adequate life cover in return for affordable premium costs. This ideal term life insurance plan can be purchased after due comparison and understanding of its features and benefits on insurance aggregator sites like Coverfox.com.
It provides a substantial death benefit cover for securing your loved ones’ financial needs after you. Some of the important pros of purchasing the Reliance online term plan pertain to the death benefit payable to your nominee. Here, the death benefit is the highest among 105% of total premiums paid, the guaranteed sum assured, or ten times the annualised premium.
The premium payments done by you also qualify for tax benefits under Section 80C of Income Tax Act, 1961. The proceeds of your policy would be entitled to other tax benefits under Section 10 (10D) of IT Act.
2. Reliance Term Plan
The Reliance Term Plan is in the nature of a non-participating, non-linked term insurance plan that offers financial protection to your family members in case anything unfortunate happens to you. This Reliance life insurance plan allows you to select adequate cover in line with your needs at an affordable cost.
These insurance plans have riders that you may also want to check up on to boost your life protection. In case of your demise, the sum assured will be given as a single lump sum amount to the nominee(s) named in your plan. The policy will no longer be valid once the death benefit is paid.
The USP of this Reliance life insurance plan is that you can include different riders like Reliance Critical Conditions Rider, Reliance Major Surgical Benefit Rider, Reliance Family Income Benefit Rider, Permanent Disablement Rider and/ or Reliance Accidental Death at small extra costs to enhance coverage. The premium payments done for this plan qualifies for tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1969.
3. Reliance Online Income Protect
Reliance Online Income Protect helps take care of financial liabilities such as school fees, daily household expenses, loan payments, repayment of EMIs, etc. when you are not around to provide for the same. This non-participating, non-linked term insurance plan offers financial protection at affordable rates.
The Reliance life insurance policy gives out 100% sum assured in the form of a lump sum amount. In addition, it provides monthly income in the form of 0.5% of the base sum assured. This amount is payable from a month after your date of death for the remaining policy term, or a period of 10 years, whichever is higher. Section 80C and Section 10 (10D) of the Income Tax Act, 1961 provide the tax benefits for this plan.
Is Your Life Insurance Policy the Best?
In the current scenario, it has become imperative for you to ensure the financial protection of your family members. Given this, the coverage chosen by you should leave enough for them to handle the unfortunate events that result from your death, disability, accident, critical illness, etc.
Reliance life insurance protection plans are known to provide the best life coverage options. Go for flexible selections where the sum assured is enough to suit your current and future financial needs and also provides adequate monetary protection to your family.
Log into Coverfox.com to compare and buy the best Reliance life insurance plans for yourself and your family. Go for the highest coverage at the least possible costs to get lucrative returns – you will be happy with the results that come your way.