Reliance Life Insurance

Reliance Nippon Life insurance Company was established on 14th May 2001 and is an integrated part of Reliance Capital. The company is rated amongst the Top 3 Most Trusted Life Insurance Service Brands by Brand Equity's Most Trusted Brands Survey 2018. Reliance Nippon serves seven different segments of life insurance plans, namely Term insurance, Retirement, Health, Saving & Investment, Child Insurance, Unit-linked plans, and plans for Groups/Corporate entities.

Some of the achievements of Reliance Life is mentioned below:

• Recognized among the Best in Insurance
• Ranked in the Top 50 of India's Best Companies to Work
• Best Digital Customer Experience Award of the Year in Insurance
• CHRO of the Year (Special Mention) Award-Srinivas Ladwa, CHRO, RNLIC

Key Features of Reliance Life Insurance

With the availability of so many life insurance companies in India, choosing an ideal one can be a hectic task.

Before choosing any life insurance company, you need to read about the company's factors such as claim settlement ratio, solvency ratio, market share and operating network.

These 4 features play a crucial part in helping you to select the ideal company according to your needs and requirements.

Find out more about the company:

1 Claim Settlement Ratio

As per the IRDAI Annual Report of 2019-20, the CSR of Reliance Life Insurance is 98.12%.

Take a look at the below graph to get an insight into the CSR of Reliance Life from the last 4 years:

Graph Showcasing Claim Settlement Ratio of Reliance Life from 2016-20

***Data has been sourced from IRDAI's annual report of 2019-20

To make it easier for you to understand, we are representing a graphical illustration of Reliance Life insurance and other top life insurance companies based on claim settlement ratio.

Reliance Life Insurance And The Other Top Life Insurance Companies Based On CSR.

***Data has been sourced from IRDAI's annual report of 2019-20

2 Solvency Ratio

A solvency ratio helps a potential buyer to measure the company's ability to manage its short-term and long-term liabilities. As per IRDAI, it is now mandatory for every life insurance company to maintain a solvency ratio of 1.5. As per the latest IRDAI Report 2019- 2020, the Solvency Ratio of Reliance Life Insurance stands at 2.41. Take a look at the below graph to understand where Reliance Life stands in maintaining a healthy solvency ratio:

Solvency Ratio of Reliance Life from 2016-2020

***Data has been sourced from IRDAI's annual report

3 Market Share

The market share of the company determines its business volume and indicates the total number of policies sold by an insurance company and the premiums collected. As per IRDAI Annual Report 2019-20, the company's Annual Gross Premium is 1006.11 crores.

Take a look at the below graph to get a clear picture of the company’s growth from 2016-2020.

Market Share of Reliance Life from 2016-2020

***Data has been sourced from IRDAI's annual report

4 Operating Networks

The company offers PAN India presence with its 713 extensive networks of offices and a team of 42,604 advisors.

Types Of Plans Offered by Reliance Life Insurance

To cater to the different insurance needs of an individual, the company offers 25 Life Insurance products. These plans are designed to offer you coverage for every aspect of your life.

Take a look at the below table to explore all the plans offered by the company under different categories:

How To Buy Reliance Life Insurance Plans?

You can invest in the Reliance Life insurance plans in two ways- through the official website of the company or PolicyX.Com. Let's discuss both in detail.

How To File A Claim For Reliance Nippon Life Insurance?

Reliance Nippon Life Insurance: Claim Settlement Process

1. Claim Intimation

   The beneficiary of the policyholder is required to intimate the claim to the insurer. Then he/she needs to fill the claim form as per the selected category such as death, terminal illness, critical illness, accidental disability, etc.

2. Verification Procedure

   On receiving the documents, the insurer proceeds with the verification process and may contact the beneficiary for details and information regarding the claim.

3. Documents Required

   The required documents asked by the insurer should be submitted along with the claim form such as death certificate, doctor's certificate, physician/medical practitioner's statement, etc., and identity proofs like Aadhar card, Voter ID, PAN card, etc. The documents submitted should be original or xerox copies (duly attested by Gazetted Officer).

4. Settlement Payout

   After successful completion of the verification process and if all the relevant documents are found true to their knowledge, the sum assured will be transferred to the beneficiary's bank account within 10 working days. Reliance Nippon Life Insurance company ensures complete clarity and transparency to minimize any possible frauds and financial disagreements.

Reliance Nippon Life Insurance: Contact Details

Contact Address: Reliance Nippon Life Insurance Reliance Centre, 5th Floor, Off. Western Express Highway, Santacruz (East), Mumbai - 400055.

Customer Support Phone: 1800-102-1010 [Toll-Free Customer Care Number (Pan India)] (9:00 am to 6:00 pm; Monday to Saturday)

(+91) 022 4882 7000 [Customer Care Number for Customers residing outside India]

1800 102 3330 [For Claim Related Queries Only]

E-mail: rnlife[dot]customerservice[at]relianceada(dot)com.