All About Reliance Nippon Life Term Life Rider
Updated On Jul 20, 2021
Table of Contents
- What is Reliance Nippon Life Term Life Rider?
- Key Highlights of The Reliance Nippon Life Term Life Rider
- Benefits of Buying The Reliance Nippon Life Term Rider
- Exclusions of The Rider
What is Reliance Nippon Life Term Life Rider?
Reliance Nippon The Life Term Life Insurance Benefit Rider offered by Reliance Nippon is a non-linked as well as non-participating coverage and protection rider. The individual opting for this rider will be entitled to receive the rider’s sum assured as a lump sum benefit.
Key Highlights of The Reliance Nippon Life Term Life Rider
- The minimum entry age is 18 while the maximum is 55
- It is an online plan therefore providing you with better and easy management.
- Fewer documents are required to buy this rider.
- This rider doesn't offer maternity benefits
- Lower online accessibility premium
- Affordable premium prices for people to keep their lifestyle healthy
- Payments are received only on an annual basis.
Benefits of Buying The Reliance Nippon Life Term Rider
The Rider is Cost Effective And Economical
The Reliance Nippon Life Term Rider is a complete pack of financial protection at an affordable cost as the premium costs are very nominal and can easily be added to the policy with many types of payment period options.
It is One of The Most Flexible Riders
The Reliance Nippon Life Term Rider gives its customers the flexibility to decide protection cover as per the individual’s needs and requirements. It is one of the most flexible riders available in the market.
It Pays Lucrative Perks And Rewards
The Reliance Nippon Life Term Rider has lower premium rates and other bonuses and rewards for the insured to maintain a healthy lifestyle. The insured also gets access to tax benefits etc.
The Insured Enjoys Tax Benefits
The Reliance Nippon Life Term Rider gives its customers tax benefits on the premium paid for the term plan under Section 80D of the Income Tax Act.
The Process Is Hassle Free
The Reliance Nippon Life Term Rider has a hassle free and a quiet simple application process which can easily be done online without the tension of having to go outside to find out more about the plan.
Convenient Medical Process Is Available
The Reliance Nippon Life Term Rider arranges medical tests at the preferred day and time at the life insured person’s doorsteps to ensure that they don’t have to face any issues during an emergency.
The Company Owns A Good Claim Settlement Ratio
The Reliance Nippon Life Term Rider comes under the Reliance Industries and owns a satisfactory and good claim settlement ratio in the market of 95.01% as of 31st March,2016. It shows that the company is trustworthy and customers are satisfied.
Exclusions of The Rider
In the event that the assured person, whether sound or foolish, commits suicides within 12 months from or from the date of the policy starting, the nominee or beneficiaries shall, provided the Policy is complied with and we will not be paying an insured benefit, receive 80 percent of the premiums paid until the day of their death, excluding, where applicable, taxes and extra premiums.
The Company will not pay an Accidental Death Claim and a Total and Permanent Disability Claim resulting in one or more of the following:
- An act of self-injury or an attempted act, any criminal or illegal action, participation in any risky activity without the leadership of a qualified medical doctor, and being under the influence of alcohol or drugs.
- Aerial equipment of any sort, other than a fare paid by passenger on an accepted airline or chartern service, is used or attempted to fly, use or utilise.
- Active military, naval, airforce, police or any other similar service or participating in any riot, strike or civilian commotion Conflict, invasion, acts of adversaries, hostilities or warfare, civil war, mouthpieces, military rise and so forth.
The Reliance Nippon Life Term Rider is one of the most popular riders that people are opting for, nowadays. Measure your goals and analyse your requirements and invest in this effective rider, if needed.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.