JIO PHONE: AFTER RETURNING 3 YEARS, IT WILL TAKE UP TO 1500 FINES, REFUNDS WILL COST YOU RS 4,500

◆> Jio Phone, the 4G feature phone unveiled by Reliance Jio in July, will cost you much more than previously anticipated. The company has put up the terms and conditions on its website for returning Jio Phone units, which have revealed the fine print involved with the process. It turns out you will have to shell out money if you want to return the phone, and that you must spend at least Rs. 4,500 on recharges if you want the refundable Rs. 1,500 back. These details were not announced at the time of Jio Phone unveiling, where it was introduced as effectively free, after a security deposit of Rs. 1,500.At the time of the unveiling, there were no conditions attached with the Jio-branded phone, though it was expected that some would be announced as the release draws closer. Now that the Jio Phone deliveries have started, the company has mentioned on its website to say that customers will have to pay as much as Rs. 1,500 for returning the phone ahead of schedule. As mentioned above, if the user indeed plans to keep the phone and use it, recharges worth Rs. 1,500 per year must be purchased with the number to remain eligible for the refund. On the other hand, if a user buys the phone but doesn’t use it, Jio has the right to ask for it to be returned.

➨ The above mentioned premium rate is for 1 crore of life cover for a 25 year old healthy male for a policy term of 15 years with regular income payout option. The annual premium amount for this assumption will be 6036 and monthly premium will be 504. The above mentioned premium rate is for 50 lakhs of life cover and 10 lakhs of accelerated critical illness cover for a 25 year old healthy male for a policy term of 15 years with lumpsum payout option. The annual premium amount for this assumption will be 5846 and monthly premium will be 489. The above mentioned premium rate is for 1 crore of life cover and 10 lakhs of accelerated critical illness cover for a 25 year old healthy male for a policy term of 15 years with regular income payout option.

◆ The annual premium amount for this assumption will be 7,576 and monthly premium will be 633.The above mentioned premium rate is for 1 crore of life cover for a 30 year old healthy male for a policy term of 30 years with regular income payout option. The annual premium amount for this assumption will be 9179 and monthly premium will be 766. In case of death, the nominee will receive 83,333 pm for 10 years.

Get Update By Email