Life Cover of Up to 20 Lakhs
Affordable Premium Starting @â‚ą11/Day
No Medical Checkup RequiredWill my passing affect anyone financially? If yes, you must buy a term insurance policy that financially supports your family in adverse circumstances. A term is a pure life insurance plan that provides a financial benefit to the nominee in case of the unfortunate death of the policyholders. In this case, RB Life Term Insurance comes into the role.
RB Life Term Plan is a type of term life insurance plan that provides financial protection to the policyholder's family in case of the sudden demise of the insured. RenewBuy Life Term Insurance plan helps you live a stress-free life today while protecting your family's future It is a budget-friendly term insurance plan offering comprehensive coverage at an affordable premium. RenewBuy Life Term Plans come in two different variants, i.e. RB Life Platinum and RB Life Gold.
Highlights of RB Life Term Plans
Below mentioned are the specifications of the RB Life Term Insurance Plans from RenewBuy.com:
| Entry Age | 18 Years to 50 Years |
| Policy Type | Term Insurance Plan |
| Sum Assured | RB Life Platinum: INR 20L RB Life Gold: INR 10L |
| Policy Term | 1 Year |
| Renewability | Till 55 Years of Age |
Eligibility to buy RenewBuy Life Term Insurance Plan
Below mentioned is the eligibility of the RenewBuy Life Insurance Plan:
RB Life Platinum, RB Life Gold Plan, RB Life Wellness
- Plan Type: Term Insurance
- Entry Age: 18 Years to 50 years
- Policy Term: 1 Year
Benefits of RB Life Term Insurance Plan
RenewBuy Life Term Plans offer its customers various types of benefits so they can live their lives stress-free. Below mentioned are the Benefits offered under RB Life Term Plan:
Death Benefit
The nominee/beneficiary will get a lump sum amount (sum assured amount) in case of the policyholder's unfortunate death during the policy term.
Tax Benefits
RB Term Life plans offer tax benefits under Section 80C on premiums paid under this plan.
No Medical Checkup Required
You don’t have to undergo any medical checkup to buy RB Term Life Insurance Plans.
No Income Proof:
RenewBuy term plan is one of its kind that does not require income proof, but buying any traditional term insurance plan requires you to submit income proof, which is the most significant advantage of buying RB Life Term Plans.
Paperless Process
The entire buying process will be paperless, so you don't need to provide any hard copies of the documents.
Immediate Issuance
You will get instant coverage once you declare yourself a healthy person.
RB Life Term Insurance Plans Added Benefits
RB Life Term Insurance Plans have the following additional coverage benefits:
Doctor on Phone 24x7
Policyholders will get 24x7 unlimited doctor Tele-consultation in more than 10 specialized categories (Internal Medicine, Ayurveda, Homeopathy, Pediatric, Gynaecology, Diabetes, Dietician, Mental health Counselor, Dermatology, Eye and Dental Care) in different regional languages.
Who Should Buy RB Life Term Plans?
Any person who has financial dependents should buy RB Life Term Plans. This includes married couples, families, business owners and self-employed individuals, SIP investors, young professionals with dependent parents, and retirees.
Parents
Generally, parents are the only source of income for their children. The demands of children later in life range from school and living expenses to expensive university fees. An unpleasant incident involving parents can jeopardise their future and rob their children of opportunities. To prevent this scenario from happening, parents should buy a term insurance policy. If any of the parents meet with an accident, this policy will pay a lump sum amount and/or income to cover the expenses of their children.
Newly-Married Couple
Term insurance can be the best gift for your spouse. This gift will secure your spouse's future and provide them with financial happiness. Married couples should buy term insurance as soon as it guarantees financial help to the insured's spouse in case of an accident.
Taxpayers
As per section 80C of the Income Tax Act of 1961, term insurance premiums paid can be deducted from taxable income. Term insurance payments on maturity are also tax-free, subject to section 10(10D) restrictions. Hence, term insurance can significantly reduce tax liabilities for taxpayers.
Young Professionals
Young professionals are just starting their professional life. Many of them are unmarried and do not depend on anyone for money. However, this will likely change as they marry or begin supporting their parents or other family members. Such people should buy term insurance immediately instead of delaying. This is so that the premium, once paid for the policy, remains constant for the duration of the life of the policyholder. On the other hand, delaying the purchase of term insurance may result in customers paying higher premiums as term insurance costs increase with age.
Common Exclusions of RenewBuy Life Term Plan
Below mentioned is the list of conditions that are not covered under the RB Term plan:
- Death Due to Participation in Criminal Activities
- Pre-existing Medical Conditions
- Death Due to Intoxication
RenewBuy Life Term Plan Buying Process
You can buy an RB Term Plan from the official website or your closest RenewBuy advisor.
Buy from "RenewBuy.com"
- Visit the official website of "RenewBuy".
- Click on the “RB Life” tab.
- Enter your date of birth on the next page.
- Then, click on the desired plan variant.
- Click on the "Buy Now" button.
- Pay the premium amount
- Once the payment is made, the policy documents will be sent to your registered Email ID.
Buy From RenewBuy Advisor
- Visit the " RenewBuy " official website.
- Click on the “Connect with an expert” section.
- Enter the required information.
- The next page will show you the list of advisors nearby.
- Now, you can select your desired advisor.
- Click on the call button and enter your phone number.
- The RenewBuy advisor will connect with you shortly.
RB Term Life Plan Claim Process
You can file your claim by calling on our toll-free number, 18004197852 or by emailing us at the customersupport@renewbuy.com. Moreover, you can also connect with your POSP advisor for claim support.
Documents Required for Claim Settlement
Below mentioned are the documents that a nominee need to submit while filing a term insurance claim:
- Original Policy Document
- ID proof of Policyholder
- ID proof of claimant
- Other Required Documents
- Hospital Discharge Summary (in case of death due to illness)
- Medical report (in case of death due to illness)
- Post Mortem Report
- FIR Report
- Original Policy Document
- Claim Form
- Certificate of medical attendance
- Statement of attending doctor
- Other Required Documents