Reliance Life Insurance
Reliance Life Insurance
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About Reliance Life Insurance

Reliance Nippon Life insurance Company was established on 14th May 2001. The company is an integrated part of Reliance Capital which is one of the top-ranking private economic service companies in India. 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

Highlights

Claim Settlement Ratio97.71%
No. of Branches in India800
No. of Policyholders 10 million
Agent Advisors1,00,000

**Last Updated on 28-05-2020

Reliance Life Insurance

Reliance Life Insurance Plans

1. Reliance Life Insurance- Term Insurance Plans

Term Insurance plans make sure that the family stays protected and secured after the unfortunate demise of the policyholder. It offers the needful cover with a high sum assured at nominal prices. Let's look at the various term plans offered by the company.

i. Reliance Nippon Life Protection Plus

Reliance Nippon Life Protection Plus Plan offers a comprehensive life insurance cover in addition to multiple plan options for enhanced protection at key stages of life.

Eligibility Criteria

ParametersWhole life planAll other plans
Age at Entry (in years)25 to 5518 to 60
Age at Maturity (in years)Whole life28 to 75
Policy Tenure (in years)Whole life10 to 40
Sum Assured Minimum: Rs. 25 lakhs
Maximum: No limit, subject to policy underwriting

**Last Updated on 28-05-2020

ii. Reliance Nippon Life Digi-Term Insurance Plan

Reliance Nippon Life Digi-Term Plan is an ideal term insurance plan that provides you with a complete life cover with the convenience of online purchase within a few clicks. Also, medical tests can be done from the comfort of your home.

Eligibility Criteria

ParametersWhole life plan Life Secure with Return of Premium (50%) Life Secure with Return of Premium (100%)All other plans
Age at Entry (in years)25 to 6018 to 60
Age at Maturity (in years)Whole life28 to 80
Policy Tenure (in years)Whole life10 to 3510 to 40
Sum Assured Minimum: Rs. 25 lakhs (multiples of Rs. 1 lakh)
Maximum: No limit, subject to policy underwriting

**Last Updated on 28-05-2020

2. Reliance Life Insurance- Savings & Investment Plans

Savings & Investment plans offer you multiple options for savings and growth of funds. These plans help in an organised and planned investment which helps you and your family to accomplish financial and life goals. Let's look at the various savings & investment plans offered by the company.

i. Reliance Nippon Life Lifelong Savings Plan

Reliance Nippon Life Lifelong Savings Plan provides your family with a whole life cover in case of unfortunate death. It also helps you to save money during your lifetime for a sound financial future plan.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)755
Age at Maturity (in years)2270
Policy Tenure (in years)1530
Sum Assured Rs. 80,000No limit

**Last Updated on 28-05-2020

ii. Reliance Nippon Life Super Money Back Plan

Reliance Nippon Life Super Money Back Plan provides a guaranteed monthly income to safeguard your family against unforeseen situations of life. This income increases every year and enables you to make a business investment or fulfil your family's desires.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)Death Benefit Option A: 18
Death Benefit Option B: 45
55
Age at Maturity (in years)2880
Policy Tenure (in years)10, 20, 30, 40 and 50
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

iii. Reliance Nippon Life Milestone Plan

Reliance Nippon Life Milestone Plan works to fulfil financial milestones such as buying a home, going on a family vacation, peaceful retirement life, etc. by helping you to build a corpus throughout your life.

Eligibility Criteria

ParametersLife plan Life Plus Plan All other plans
Age at Entry (in years)8 to 558 to 45
Age at Maturity (in years)Minimum: 8
Maximum: 75
Policy Tenure (in years)10, 12, 15 and 20
Sum Assured Calculated as per policy tenure chosen up to Rs. 10 lakhs

**Last Updated on 28-05-2020

iv. Reliance Nippon Life Super Endowment Plan

Reliance Nippon Life Super Endowment Plan is a non-linked, non-participating and savings life insurance plan that offers savings for future in addition to life cover for the family.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years; last birthday)860
Age at Maturity (in years; last birthday)2275
Policy Tenure (in years)14 and 20
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

v. Reliance Nippon Life Increasing Money Back Plan

Reliance Nippon Life Increasing Money Back Plan is a life insurance plan that offers increasing periodic payouts in every 3 years to stay ahead of the rising costs and growing lifestyles needs.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)1555
Age at Maturity (in years)3070
Policy Tenure (in years)15
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

vi. Reliance Nippon Life Future Income

This plan provides an additional annual income to help you fulfil your dreams. The plan offers flexibility to choose the investment tenure, premium payment frequency and pay until the maturity age.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)855
Age at Maturity (in years)2275
Policy Tenure (in years)14, 16, 18, 20, 22, 24
Sum Assured Rs. 2 lakhNo limit

**Last Updated on 28-05-2020

vii. Reliance Nippon Life Fixed Money Back

A money back insurance plan that pays out fixed guaranteed periodic lump sums in the last 5 years of the policy tenure.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)Death Benefit Option A: 18
Death Benefit Option B: 45
55
Age at Maturity (in years)3375
Policy Tenure (in years)15 or 20
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

viii. Reliance Nippon Life Increasing Income Insurance Plan

In this plan, you will receive a guaranteed monthly income (in arrears) after the end of the premium payment term. The plan pays until the policy term ends.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)1460
Age at Maturity (in years)2680
Policy Tenure (in years)12, 16, 20, 24
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

ix. Reliance Nippon Life Bluechip Savings Insurance Plan

Reliance Nippon Life Bluechip Savings Insurance Plan secures your future with multiple benefits and helps in accumulating savings for you and your family's financial needs in every stage of life.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)860
Age at Maturity (in years)1875
Policy Tenure (in years)1015
Sum Assured Rs. 80,000No limit

**Last Updated on 28-05-2020

x. Reliance Nippon Life Fixed Savings

Reliance Nippon Life Fixed Savings helps you to build a corpus for unforeseen expenses, by allowing you to systematically save for the lifetime. It also offers an additional lump sum on policy maturation together with a life cover to secure your family.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)860
Age at Maturity (in years)2080
Policy Tenure (in years)12, 15 and 20
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

xi. Reliance Nippon Life Guaranteed Money Back Plan

This money back plan helps you save for the long run with liquidity needs at various stages of life. In the event of the unfortunate death of the policyholder, the policy waives off all future premiums and continues to pay the benefits until the policy tenure.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)1858
Age at Maturity (in years)3375
Policy Tenure (in years)15 and 20
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

xii. Reliance Nippon Life Prosperity Plus

Reliance Nippon Life Prosperity Plus is an ideal financial plan which provides protection against any adversities throughout life together with the achievement of financial goals by providing lump-sum payment where the investment risks are borne by the life assured.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)1555
Age at Maturity (in years)3070
Policy Tenure (in years)15
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

3. Reliance Life Insurance- Retirement Plans

Reliance Life Insurance retirement plans make sure that the insured does not ought to compromise their way of life even after they have stopped earning. The retirement fund provided by the plans is a useful resource for the insured to lead a comfortable and retirement life. Let's look at the retirement plan offered by the company.

i. Reliance Nippon Life Immediate Annuity Plan

Reliance Nippon Life Immediate Annuity assists you to earn a regular income for your entire life. This is a single premium policy where you can choose an adequate annuity option as per your insurance needs. On the basis of opted payout frequency and chosen annuity option, you will receive regular annuity income.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years; last birthday)2080
Annuity InstallmentsRs. 1000No limit
Annuity Payout FrequenciesMonthly, Quarterly, Half-yearly and Annually
Purchase PriceRs. 1 lakh (excluding GST and other taxes)No limit

**Last Updated on 28-05-2020

4. Reliance Life Insurance- Health Insurance Plans

Health insurance plans offer you the advantage of lump-sum, regardless of the expenses incurred during hospitalization. These plans guarantee that the savings remain unharmed and go towards securing financial stability while fulfilling your family's dreams. Let's look at the health insurance plan offered by the company.

i. Reliance Nippon Life Cancer Protection Plus Plan

Reliance Nippon Life Cancer Protection Plus Plan is a comprehensive cancer care plan that takes care of the assured as well as the family.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)565
Age at Maturity (in years)1575
Policy Tenure (in years)1025
Sum Assured Rs. 10 lakhRs. 40 lakh

**Last Updated on 28-05-2020

5. Reliance Life Insurance- Child Insurance Plans

A child insurance plan is one of the best ways for you to initiate your savings consistently for a secure future of your children. Whether it is higher education, marriage, home, etc. the plan promises to look after your child's needs at every step of life.

6. Reliance Life Insurance- Unit-linked Insurance Plans (ULIPs)

Unit-linked insurance plans (ULIPs) are meant to provide protection in addition to savings that offer you double benefits to avail market-linked returns on investments along with life insurance coverage. Let's look at the various ULIP plans offered by the company.

i. Reliance Nippon Life Smart Savings Insurance Plan

Reliance Nippon Life Smart Savings Insurance Plan automatically adjusts your risk possibilities. It helps in maintaining a balance between your shares and arrears via strategic distribution of assets as per stages of life.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)160
Age at Maturity (in years)1870
Policy Tenure (in years)10, 15, 35
Sum Assured Rs. 7 lakhRs. 10 lakh

**Last Updated on 28-05-2020

ii. Reliance Nippon Life Prosperity Plus

Reliance Nippon Life Prosperity Plus is a plan in which the policyholder gets the provision of life insurance cover together with a liquidity facility for investments throughout the policy tenure that helps you achieve your desired goals.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)160
Age at Maturity (in years)1870
Policy Tenure (in years)10, 15 and 20
Sum Assured Rs. 1 lakhNo limit

**Last Updated on 28-05-2020

iii. Reliance Nippon Life Premier Wealth Insurance Plan

Reliance Nippon Life Premier Wealth Insurance Plan has been tailor-made to fulfil the needs of an individual and keep pace with the changing priorities over time. The policy enables the flexibility to balance the protection and investment needs during its term, in an orderly manner.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry30 days60 years
Age at Maturity (in years)1870
Policy Tenure (in years)10 and 30
Sum Assured Rs. 5 lakhNo limit

**Last Updated on 28-05-2020

iv. Reliance Nippon Life Classic Plan II

Reliance Nippon Life Classic Plan II offers an opportunity to make a long term investment and secure the same against adverse circumstances. It provides multiple fund options so that you can diversify your investment to compete with the market risks. The plan comes along with the life insurance coverage for your family.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)760
Age at Maturity (in years)2275
Policy Tenure (in years)15 and 30
Sum Assured Rs. 5 lakhRs. 25 lakh

**Last Updated on 28-05-2020

7. Reliance Life Insurance- Group Insurance Plans

Reliance life group insurance plans are a win-win solution for the employers that offer the employees' life insurance coverage along with staying focused on the company's well being. It also provides the employees' with a sustainable retirement life via different gratuity and pension policies. Let's look at the various group insurance plans offered by the company.

i. RNLI Group Unit-linked Employee Benefit Plan

It is a comprehensive employee benefit plan for the organisation that offers fund based unit-linked group products to effectively administer the employees' gratuity and leave encashment liabilities. The plan also provides life insurance coverage to the employees.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)1860
Contribution (at Inception)Rs. 1 lakhNo limit
Policy Tenure (in years)The policy will be renewed annually at Policy Anniversary date every year and will be in force unless it is surrendered/ terminated by Master Policyholder
Insured Death BenefitRs. 5000 per memberNo limit
Group Size10No limit

**Last Updated on 28-05-2020

ii. RNLI Reliance Nippon Life Group Term Assurance Plus

Reliance Nippon Life Group Term Assurance Plus is a group term plan that allows the employer to easily secure their employee' future at affordable premium rates. The plan provides life insurance to the group members and their families against unforeseen contingencies of life.

Eligibility Criteria

ParametersMinimumMaximum
Age at Entry (in years)1480
Age at Maturity (in years)1581
Policy Tenure (in years)1 year Renewable
Insured Death BenefitRs. 5000 per memberNo limit
Group Size10 for Employer Employee Group
50 for Non-employer Employee Group
No limit

**Last Updated on 28-05-2020

Why Opt for Reliance Nippon Life Insurance Plans?

Protection : The life insurance plans by Reliance allows the family to clear any payoffs like mortgages, loans or medical expenses for serious illnesses so that there is no financial burden or stress due to these responsibilities.

Investment : Moreover, Reliance Nippon life insurance plans not only provide peace of mind but also play an important role in investment decisions. With strict legislation to secure the policyholders, these plans carry minimal investment market risks and continue to benefit in the long run.

You are also liable to increase the coverage amount over time which makes it a unique feature of Reliance Nippon life insurance policies.

Tax Savings : Make an investment in Reliance life insurance policy and save on the premiums paid towards the policy under Section 80C of the Income Tax Law, 1961.

Reliance Nippon Life Insurance: Claim Settlement Process

Claim Intimation:

The beneficiary of the policyholder is required to intimate about 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.

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.

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 copy (duly attested by Gazetted Officer).

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 paid 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 / 022 3000 2700 [For Claim Related Queries Only]

E-mail : rnlife.customerservice@relianceada.com

Reliance Nippon Life Insurance: FAQs

1. Can I make a partial withdrawal from my Reliance Nippon Life Classic Plan II insurance plan?

Yes, after the completion of the lock-in period, you can make partial withdrawals for Reliance Nippon Life Classic Plan II.

2. Are there any loyalty additions for my RNLI Group Unit-linked Employee Benefit plan?

Yes, there loyalty additions for RNLI Group Unit-linked Employee Benefit plan. On completing each policy year, the policy shall accrue loyalty bonus and added to the policy.

3. May I know how much increment in sum assured will be there if I choose the ‘increasing cover plan' option for?

The base sum assured for ‘increasing cover plan' option in Reliance Nippon Life Protection Plus policy increases by a simple rate of 5% per annum on every policy anniversary subject to a maximum increase of 100% of the chosen sum assured amount.

4. Is there any rider option available for Reliance Nippon Life Immediate Annuity Plan?

No, there is no rider option available for Reliance Nippon Life Immediate Annuity Plan.

5. Can I cancel my Reliance life insurance policy?

You can cancel your policy after completing the lock-in period as per the terms and conditions of the Reliance life insurance policy. You need to submit the duly filled and signed surrender request form, policy documents, bank account details for the purpose of refund of the paid amount and self-attested copy of KYC information.

6. Whom to contact in case I need to change my mobile number in my Reliance life insurance policy?

All you need to do is to place a request to Reliance customer service (rlife.customerservice@relianceada.com) from your registered email id along with the policy number. The support team will make the necessary changes and send the confirmation once done.

7. How can I check the policy status of my Reliance life insurance plan?

You can check your policy status by logging to the official website of Reliance Nippon Life by using your registered email id and password or send an email to the customer support or you can place a request via call else you can directly visit the Reliance Life Insurance nearest branch.

8. Is there any mobile application available for Reliance life insurance policies?

Yes, there is an application, viz., Reliance life insurance available.

9. How to pay premiums online for my Reliance life insurance policy?

Login to your Reliance lifeline account with the registered email id and password and select the policy which is due for payment and makes the payment choosing from different online modes of payment available such as net banking, credit/debit card, e-wallets, etc.

10. Do I need to claim a maturity benefit for my Reliance life insurance plan?

No, you do not need to claim a maturity benefit for Reliance life insurance. It will be directly paid by the company on the maturity date of the policy.

11. Is there any loan facility available for my Reliance Nippon Life Increasing Money Back Plan?

Yes, a loan facility is available for Reliance Nippon Life Increasing Money Back Plan.

12. Do Reliance Nippon life insurance policies offer waiver of premium benefit?

Yes, Reliance Nippon life insurance policies offer waiver of premium benefit on their savings and investment plans.

13. May I whether I can convert my maturity payout in a regular income facility for my Reliance Nippon Life Milestone Plan?

Yes, there is a settlement option applicable to convert maturity payout in regular income facility for my Reliance Nippon Life Milestone Plan.

14. What are the different riders available for my Reliance Nippon Life Future Income plan?

The different riders available for Reliance Nippon Life Future Income plan are as follows:

  • Accidental Death Benefit Rider
  • Accidental Death and Disability Rider
  • Accidental Death and Disability Plus Rider

15. Will I be payable the income benefit after the premium payment term also for my Reliance Life Future Income plan?

No, the income benefit will not be payable after the premium payment term and also the last policy year.

16. When will I receive wealth boosters for my Reliance Nippon Life Premier Wealth Insurance Plan?

You will receive wealth boosters from the 8th policy year for Reliance Nippon Life Premier Wealth Insurance Plan.

Last updated on 28-05-2020