Reliance Life vs Icici Ulip Plans Life Insurance 2026 | PolicyX
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Overview

Reliance Nippon Life Insurance: Overview

Reliance Nippon Life Insurance Company is among the leading private sector life insurance companies in India. It is one of the largest non-bank-supported private life insurers, serving over 10 million policyholders with a strong distribution network of 713 branches and 46,538 advisors as of March 31, 2024. The company holds a Claim Settlement Ratio of 98.74% as of March 31, 2024.

Reliance Nippon Life Insurance Company caters to your insurance needs by offering:

  • Affordable Premiums

  • Wide Scope Of Coverage

  • Customizable Plans

  • Rider Benefits

  • Enhanced Coverage Benefit Option

COMPANY DETAILS ✎ Edit

Reliance Life

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Icici Ulip Plans
Rating
Number of life insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

₹ 5710.68 Cr

Annual Premiums Collected (2024-25)

₹ Rs 1 lakh to No limit
Payout Options

Payout Options

Lump sum, regular frequencies or a combination of both

Payout Options

-
Claim ratio

Payout Options

98.74%

Payout Options

Minimum Age- 14 year%
Solvency Ratio

Solvency Ratio

2.35

Solvency Ratio

70 years
Pan India Presence

Pan India Presence

713+

Pan India Presence

Annual, half-yearly,
Riders Available

Riders Available

Major Surgical Benefit Rider, Critical Condition Rider, Family Income Benefit Rider, Accidental Disability Rider

Riders Available

10 to 30 years
Policy Term

Policy Term

5 to 30 years

Policy Term

10 to 30 years
Inception year

Inception year

-

Inception year

-
Complaint ratio per ₹1 crore of premium collected

Complaint ratio per ₹1 crore of premium collected

-

Complaint ratio per ₹1 crore of premium collected

-
Average claim settlement time

Average claim settlement time

-

Average claim settlement time

-
IRDAI registration number

IRDAI registration number

-

IRDAI registration number

-
Awards and recognitions

Awards and recognitions

-

Awards and recognitions

-

Riders

Riders You Can Avail with Reliance Life Insurance Plans

Name of the RidersBenefits
Reliance Life Major Surgical Benefit RiderUnder this rider, customers get coverage for 33 categories of surgeries, including major surgeries such as open heart, kidney transplant, and lung transplant.
Reliance Life Critical Condition RiderUnder this rider, the customer gets a lump-sum payout if diagnosed with any critical illness among the 25 listed diseases.
Reliance Life Family Income Benefit RiderThis rider provides regular income to the policyholder until the rider's tenure if the policyholder is diagnosed with any critical illness or permanent disability that affects their earning ability for more than 6 months.
Reliance Life Accidental Disability RiderUnder this rider, all future premiums of term plans will be waived off if the policyholder has any disability due to an accident and cannot earn for more than six months.
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Expert Reviewed

Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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