KATHMANDU, June 20: Reliance Life Insurance has come up with a new product, Reliance Term Plan, for individuals aged 16 years and above. The plan aims to provide financial stability and protection to family members of the policy holder at a nominal affordable premium, according to a statement issued by the company. The company has also announced the launch of critical illness optional benefits for its customers. This is the first time in Nepal any insurance company has provided protection for 18 critical illnesses, according to the company. The maximum coverage for this optional benefit is Rs.5 million, in case any one of the illnesses is medically verified.