Compare IndiaFirst Annuity Plan and Online Term on basis of policy details, premium details, eligibility etc. IndiaFirst Annuity Plan is provided by IndiaFirst Life Insurance Company. Online Term is provided by Reliance Life Insurance. Former policy comes under Term Plans and latter policy comes under Term Life Insurance Plans. Online buying option is available for first insurance policy and online buying option is available for second policy.
Minimum entry age for IndiaFirst Annuity Plan is 40 years and maximum entry age for the same policy is 80 years. Similarly for Reliance Online Term, minimum entry age is 18 years and maximum entry age is 55 years. Depending upon the selected plan, the premium amount and payment options may be different. Premium is the amount you pay to the insurance company in exchange of life cover. Premium payment option/s for former policy: Single Pay and premium payment option/s for latter policy: Regular Pay. In regular pay mode, you are supposed to pay this money at fixed intervals throughout the policy term whereas for limited pay mode, you are supposed to pay money only for a limited number of years.
Benefits of IndiaFirst Annuity Plan and Online Term consist of maturity benefit, tax benefit, death benefit etc. Some IndiaFirst Annuity Plan and Reliance Online Term Provisions are made for a policy holder. Loan is one such provision. For first plan, a person cannot apply for loan and second plan does not provide loan facility. Following are the benefits under these insurance policies.
For IndiaFirst Annuity Plan:
For IndiaFirst Annuity Plan:
If the policy has tax benefit, it means that the premium you pay for the policy is eligible for deduction in tax returns along with a part of money you receive on maturity of the policy. If the policy has death benefit, in event of death of the policy holder, all the money paid as premium shall be returned to his family. Even bonus is added to this money for some policies. Thus his family can stay financially secure. Maturity benefit is the money you get at the end of the policy term. This is the total of all the premiums you have paid along with applicable bonus.
Provisions under IndiaFirst Annuity Plan and Online Term mainly include policy renewal and different types of riders. For IndiaFirst Annuity Plan, policy renewal is not allowed. Policy renewal is allowed for Reliance Online Term. Different riders such as accidental death benefit rider, critical illness rider etc. are provided for an insurance policy. Riders are special clauses in an insurance policy that cover cases when you won't be able to pay premium. Accidental death benefit rider is not available for first policy and it is not available for second policy.Critical illness rider is not available for former policy and it is not available for second policy.Term rider is not available for first insurance policy and this rider is not available for second policy.
Terms and conditions for IndiaFirst Annuity Plan and Online Term includes the grace period, free look period, exclusions, riders etc. for both the policies. Grace period can be utilized for paying unpaid premiums. Grace period of plan 1 is Not Available whereas for plan 2, it is 30 Days. Free look period of plan 1 is Not Available whereas for plan 2, it is 15 Days.
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