Protection plans or term insurance plans are the simplest kind of life insurance schemes. Under a term insurance plan, you buy a policy and pay premiums as agreed, and the policy provides a monetary cover for your life. So in case you pass away while the policy is in force, then your family or nominee will get the sum assured and related death benefits. This will ensure that even after your death you have a hand in providing and caring for your family. However, if you outlive a term insurance policy – that is, your policy reaches maturity before you die – then you will not get any benefit as a term insurance doesn’t offer maturity benefits.
Reliance Nippon Life Insurance Company is owned by Reliance Capital, with Japan’s Nippon Life Insurance having a 49% stake. Because of this, the company’s products are relevant to the Indian environment and have a global outlook. The company offers pure life protection plans as well as various other kinds of life insurance schemes. The company also offers online plans for the convenience of its internet-savvy customers.
The term insurance schemes by Reliance Nippon are beneficial to you in several ways. Some of the key advantages are:
Reliance Nippon offers three schemes under its Protection Plans category:
A brief summary of the policies is given in the table below:
|Plan Name||Entry Age||Maturity Age||Premium|
|Reliance Nippon Life Term Plan||Minimum 21 years and maximum 60 years||Minimum 26 years and maximum 65 years||Minimum Rs.2,000|
|Reliance Nippon Life Online Term Plan||Minimum 18 years and maximum 55 years||Minimum 28 years and maximum 75 years||Minimum Rs.3,500|
|Reliance Nippon Life Online Income Protect||Minimum 18 years and maximum 55 years||Minimum 28 years and maximum 75 years||Minimum Rs.3,500|
Reliance Nippon Life Insurance Protection Plans are a great way to ensure that your family does not need to worry about money after your death. Whether it is to pay off your liabilities or for your child’s education, the death benefits can be very useful to your family even though your presence would be indispensable. Among the key reasons why you should buy a Reliance Nippon Protection Plan are:
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