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IndiaFirst Annuity Plan
IndiaFirst Annuity Plan

Reliance Online Term
Reliance Online Term



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IndiaFirst Annuity Plan
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Reliance Online Term

IndiaFirst Annuity Plan and Online Term Benefits

1 Loan And Benefits
1.1 Loan
6% Term Plans Life insurance plans have it !
6% Term Plans Life insurance plans have it !
1.2 Surrender
45% Term Plans Life insurance plans have it !
45% Term Plans Life insurance plans have it !
1.2.1 Surrender Value
Not Applicable
Not Applicable
1.3 Benefits
1.3.1 Tax
All Term Plans Life insurance plans have it !
All Term Plans Life insurance plans have it !
1.3.2 Tax Benefit Amount
Applicable as per the Tax Laws
Not mentioned
1.3.3 Service Tax
Not Applicable
Not Mentioned
1.3.4 Maturity
28% Term Plans Life insurance plans have it !
28% Term Plans Life insurance plans have it !
1.3.5 Maturity Benefit Amount
Not Applicable
Not Available
1.3.6 Death
97% Term Plans Life insurance plans have it !
97% Term Plans Life insurance plans have it !
1.3.7 Death Benefit Amount
Not Applicable
The nominee will receive the maximum of: sum assured OR 10 times Annualized premium OR 105% of premiums paid as on the day of death.
1.3.8 Annuity
3% Term Plans Life insurance plans have it !
3% Term Plans Life insurance plans have it !
1.4 Bonus
Not Applicable
Not Available

Availability of Loan

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for IndiaFirst Annuity Plan and Reliance Online Term. For an insurance policy, loan option may or may not be provided. For first policy, a person cannot apply for loan and second policy does not provide loan facility.Loan is a facility that is provided by the insurance companies so that in case of emergencies, you can borrow money against your life insurance policy. If loan is provided by an insurance company, its value is usually deducted from your fund value i.e. the amounts of premiums that you've paid up to the time of money borrow. Also some companies specify the period of time when the loan has to repaid.

Benefits Under IndiaFirst Annuity Plan and Online Term

Benefits Under IndiaFirst Annuity Plan and Online Term can an important point of comparison between the two plans.

For IndiaFirst Annuity Plan:

  • Tax Benefit: Available
  • Maturity Benefit: Not Available
  • Death Benefit: Not Available
  • Annuity Benefit: Not Available

For Reliance Online Term:

  • Tax Benefit: Available
  • Maturity Benefit: Not Available
  • Death Benefit: Available
  • Annuity Benefit: Not Available

Tax benefit implies that a part of one's fund value and the premium that one pays against his insurance plan are eligible for deduction on tax returns. Maturity benefit can be availed at the end of the policy term of your plan. It is paid along with the sum assured. Death benefit is an amount of money paid to the family of the life insured in event of his demise before the end of the policy term. Annuity benefit offers you an opportunity to convert your funds at end of policy term to annuity. Annuity is a type of plan where you pay a lump sum amount at once and reap its benefits after your retirement.

Surrender Value of IndiaFirst Annuity Plan and Online Term

Surrender value of IndiaFirst Annuity Plan and Online Term is the amount of money that will be provided by the insurance company in case you want to surrender the policy before maturity. Surrender may not be allowed for all types of insurance policies. IndiaFirst Annuity Plan does not allow policy surrender before end of term. Reliance Online Term does not allow surrender of policy.

Bonuses Available for These Plans

Bonuses available for these plans include terminal bonus, reversionary bonus, interim bonus etc. Bonus is an important part of IndiaFirst Annuity Plan and Online Term benefits. Terminal bonus is provided by the insurance company to reflect the overall performance of your chosen policy. Reversionary bonus is an amount of money added to your returns on maturity. Terminal bonus is usually announced twice a year. If your policy matures at a date between these two bonus days, you may get an interim bonus.

  • Bonus provided under IndiaFirst Annuity Plan: Not Applicable
  • Bonus provided under Reliance Online Term: No bonus is provided.

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