Reliance Life vs Sbi Child

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Reliance Life vs Sbi Child

COMPANY DETAILS Edit Reliance Nippon Life Insurance

Reliance Life

 Edit SBI Child Plans

Sbi Child
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

Claim ratio

98.74%

Claim ratio

Minimum Age- 0 years%
Solvency Ratio

Solvency Ratio

2.35

Solvency Ratio

70 years
Branches

Branches

713+

Branches

Annual, half-yearly,
Riders Available

Riders Available

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

Riders Available

21 ninus child entry age
Policy Term

Policy Term

5 to 30 years

Policy Term

18 ninus child entry

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

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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SBI Child Plans

SBI child plan encourages you to arrange your finances so that your child's future dreams are never a burden on your pocket.

SBI Child Plan Plans

SBI Child Plan

SBI Smart Scholar

SBI Smart Scholar

Give your children more than your love... Give them a lifetime of Financial Security. SBI Life Smart Scholar is an Individual, Unit Linked, Non-partic...

Unique Features

  • Explore SBI Life Smart Scholar
  • Know Its Features & Benefits
  • Check the Eligibility Criteria

SBI Smart Scholar (Pros)

SBI Smart Scholar

SBI Smart Scholar (Cons)

SBI Smart Scholar

SBI Smart Scholar (Other Benefits)

SBI Smart Scholar

SBI Smart Scholar (Eligibility Criteria)

SBI Smart Scholar

SBI Child Plan

SBI Smart Champ

SBI Smart Champ

SBI Life Smart Champ Insurance plan is a participating non-linked individual life insurance plan. The product has been developed to provide life cover...

Unique Features

  • One-time payment option available
  • Offers Guaranteed Smart Benefits
  • Get Tax Benefits on premiums

SBI Smart Champ (Pros)

SBI Smart Champ
  • Death Benefits
  • Smart Benefits
  • Discounts

SBI Smart Champ (Cons)

SBI Smart Champ
  • No coverage for pre-existing conditions
  • Suicidal exclusion
  • No auto-cover continuance

SBI Smart Champ (Other Benefits)

SBI Smart Champ
  • Waiver of Due Premiums
  • Policy Loans
  • Rebates on Large Sum Assured

SBI Smart Champ (Eligibility Criteria)

SBI Smart Champ
  • Minimum entry age: 0 years
  • Maximum entry age: 13 years
  • Minimum Sum Assured: ₹1
  • 00
  • 000
  • Maximum Sum Assured: ₹1 Crore
  • Maximum policy term: 30 years

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.

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