Reliance life assurance Company, a unit of Anil Ambani-led Reliance Capital, Monday launched a web life cover plan called “Reliance Online Term Insurance”.
“This is one among the foremost competitive online life assurance plans currently available within the industry, which offers Rs.1 crore of life Insurance protect as low as Rs.15 per day (for a 25 year-old healthy male),” Reliance Life Insurance Company said in a statement here.
The unique proposition of Reliance Online Insurance Term is that it offers higher life protection up to the age of 75 years through a transparent and hassle-free online process and provides the convenience of medical check-ups, if any, at the customer’s residence.
“Reliance Online Term Insurance is a simple life protection product that is based on two strong beliefs: one, adequate insurance cover should be within every Indian’s reach and two, people should be ready to pip out with ease,” said Anup Rau, chief military officer of Reliance life assurance .
“Our new offering empowers customers to form an informed choice their liabilities and family responsibilities and protect their family’s financial future at a minimal cost. With this, we aim to supply the foremost affordable online term life insurance decide to our customers,” said Rau.
Reliance Online Term Insurance offers Rs.1 crore of life cover at Rs.450 per month for a 25-year-old male (non-smoker) for the term of 15 years. The online life protection plan comes with a minimum annual premium of Rs.3,500.
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The entry age for a customer may be a minimum of 18 years and a maximum of 55 years with a minimum policy term of 10 years and a maximum of 35 years. The maximum maturity age is 75 years.
The new policy begins with a minimum cover of Rs.25 lakh and provides relatively lower premium rates for ladies and special rates for non-tobacco users.
