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 Ratio | 97.71% |
| No. of Branches in India | 717 |
| No. of Policyholders | 10 million |
| Agent Advisors | 63,016 |
**Last Updated on 04-12-2020
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 is an affordable life insurance plan that provides a substantial life cover and multiple options to ensure that you have holistic and adequate life insurance
Eligibility Criteria
| Parameters | Whole life plan | All other plans |
| Age at Entry (in years) | 25 to 55 | 18 to 60 |
| Age at Maturity (in years) | Whole life | 28 to 75 |
| Policy Tenure (in years) | Whole life | 10 to 40 |
| Sum Assured | Minimum: Rs. 25 lakhs
Maximum: No limit, subject to policy underwriting |
**Last Updated on 04-12-2020
ii. Reliance Nippon Life Digi-Term Insurance Plan
Reliance Nippon Life Digi-Term Plan is an ideal term insurance plan that provides you with substantial life cover and multiple options to choose from, with the convenience of online purchase within a few clicks. Also, medical tests can be done from the comfort of your home.
Eligibility Criteria
| Parameters | Whole life plan | All other plans |
| Age at Entry (in years) | 25 to 60 | 18 to 60 |
| Age at Maturity (in years) | Whole life | 28 to 80 |
| Policy Tenure (in years) | Whole life | 10 to 40 |
| Sum Assured | Minimum: Rs. 25 lakhs (multiples of Rs. 1 lakh)
Maximum: No limit, subject to policy underwriting |
**Last Updated on 04-12-2020
2. Reliance Life Insurance- Savings & Investment Plans
Such 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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 7 | 55 |
| Age at Maturity (in years) | 22 | 70 |
| Policy Tenure (in years) | 15 | 30 |
| Sum Assured | Rs. 80,000 | No limit |
**Last Updated on 04-12-2020
ii. Reliance Nippon Life Super Money Back Plan
Reliance Nippon Life Super Money Back Plan provides a regular income to safeguard your family against any unforeseen circumstances. This income increases every year and enables you to make a business investment or fulfil your family's desires.
Eligibility Criteria
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 18 | 55 |
| Age at Maturity (in years) | 28 | 80 |
| Policy Tenure (in years) | 10, 20, 30, 40 and 50 |
| Sum Assured | Rs. 1 lakh | No limit |
**Last Updated on 04-12-2020
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
Plan Option | Parameters | Minimum | Maximum |
Life Option | Age at Entry for Life Assured (Years) | Premium Payment Term |
8 | Annual Frequency | Non-Annual Frequency |
For 5 Pay | 52 | 45 |
For 7 Pay | 55 | 50 |
For 10 Pay | 60 | 55 |
For 15 Pay | 55 | 55 |
Age at Maturity for Life Assured (Years | 18 | 75 |
Life Plus Option | Age at Entry for Life Assured (Years) | For 5 Pay | 8 | 45 | 40 |
For 7,10,15 Pay | 45 |
Age at Maturity for Life Assured (Years) | 18 | 65 |
Age at Entry for Proposer (Years) | For 5 Pay | 18 | 65 | 64 |
For 7,10,15 Pay | 55 |
Age at Maturity for Proposer (Years) | 28 | 75 |
All Option | Premium Payment Term (Years) | 5 | 7 | 10 | 15 |
Policy Term (Years) | 10 | 12 | 15 | 20 |
Premium Amount (in Rs) | 50,000 | No Limit |
Premium Payment Frequency | Annually, Half-yearly, Quarterly and Monthly |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years; last birthday) | 8 | 60 |
| Age at Maturity (in years; last birthday) | 22 | 75 |
| Policy Tenure (in years) | 14 and 20 |
| Sum Assured | Rs. 1 lakh | No limit |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 15 | 55 |
| Age at Maturity (in years) | 30 | 70 |
| Policy Tenure (in years) | 15 |
| Sum Assured | Rs. 1 lakh | No limit |
**Last Updated on 04-12-2020
vi. Reliance Nippon Life Future Income
This plan provides a constant 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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 8 | 55 |
| Age at Maturity (in years) | 22 | 75 |
| Policy Tenure (in years) | 14, 16, 18, 20, 22, 24 |
| Sum Assured | Rs. 2 lakh | No limit |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | Death Benefit Option A: 18
Death Benefit Option B: 45 | 55 |
| Age at Maturity (in years) | 33 | 75 |
| Policy Tenure (in years) | 15 or 20 |
| Sum Assured | Rs. 1 lakh | No limit |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 14 | 60 |
| Age at Maturity (in years) | 26 | 80 |
| Policy Tenure (in years) | 12, 16, 20, 24 |
| Sum Assured | Age at entry up to 44 years-Rs.60000
Age at entry 45 years and above -Rs. 1,00,000 | No limit |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 8 | 60 |
| Age at Maturity (in years) | 18 | 75 |
| Policy Tenure (in years) | 10 | 15 |
| Sum Assured | 77,905 | No limit |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 8 | 60 |
| Age at Maturity (in years) | 20 | 80 |
| Policy Tenure (in years) | 12, 15 and 20 |
| Sum Assured | Rs. 1 lakh | No limit |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 18 | 58 |
| Age at Maturity (in years) | 33 | 75 |
| Policy Tenure (in years) | 15 and 20 |
| Sum Assured | Rs. 50,000 | No limit |
**Last Updated on 04-12-2020
3. Reliance Life Insurance- Retirement Plans
Reliance Retirement Plans helps the individuals to save money for their retirement, and makes sure that they don’t have to compromise their way of life even after they have stopped earning. Invest in a Reliance Retirement Plan today and enjoy life after retirement on your own terms. Let's look at the retirement plans offered by the company.
i. Reliance Nippon Life Immediate Annuity Plan
Reliance Nippon Life Immediate Annuity Plan helps you to earn a regular income and ensures that you enjoy your life after retirement. It is a single-premium policy, where you can choose an adequate annuity option as per your insurance needs. On the basis of opted pay-out frequency and chosen annuity option, you will receive regular annuity income.
Eligibility Criteria
| Parameters | Minimum | Maximum |
| Age at Entry (in years; last birthday) | 20 | 80 |
| Annuity Installments | Rs. 1000 | No limit |
| Annuity Payout Frequencies | Monthly, Quarterly, Half-yearly and Annually |
| Purchase Price | Rs. 1 lakh (excluding GST and other taxes) | No limit |
**Last Updated on 04-12-2020
ii. Reliance Nippon Life Smart Pension Plan
Reliance Nippon Life Smart Pension Plan allows an individual to save systematically and build up the much needed corpus to provide a regular income after his/her retirement.
Eligibility Criteria
| Parameters | Minimum | Maximum |
| Age at Entry (in years; last birthday) | 18 | 65 |
| Annuity Installments | Single Premium-10
Limited/Regular Premium-15 | 30 |
| Maturity Age (in years) | 45 | 75 |
| Premium Paying Term (in years) | 10 | 30 |
| Premium Frequency | Yearly, Half-Yearly, Quarterly, Monthly and Single |
**Last Updated on 04-12-2020
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 fulfilling your family's dreams. Let's look at the health insurance plans offered by the company.
i. Reliance Nippon Life Cancer Protection Plus Plan
It is a comprehensive cancer care plan that takes care of the assured as well as the family. The plan comes with 3 variants, allowing the customers to choose one as per their requirements.
Options Available are:
- Silver Option
- Gold Option
- Little Star Option
Eligibility Criteria
Parameters | Minimum | Maximum |
Age at Entry (in years) | Little Star Option | 5 | 17 |
Silver/Gold Option | 18 | 65 |
Age at Maturity (in years) | Little Star Option | 15 | 42 |
Silver/Gold Option | 28 | 75 |
Policy Term (in years) | 10 | 25 |
Basic Sum Insured | Little Star Option | Rs. 10,00,000 |
Silver/Gold Option | Rs. 10,00,000 | Rs. 40,00,000 |
**Last Updated on 04-12-2020
5. Reliance Life Insurance- Child Insurance Plans
A child insurance plan is one of the best ways to initiate your savings 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 investment-cum-protection plans that offer you dual benefits of availing market-linked returns on your investments, along with life insurance cover. 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:
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 1 | 60 |
| Age at Maturity (in years) | 18 | 70 |
| Sum Assured | Multiple of annualized premium |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 1 | 60 |
| Age at Maturity (in years) | 18 | 70 |
| Policy Tenure (in years) | 10, 15 and 20 |
|
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry | 30 days | 60 years |
| Age at Maturity (in years) | 18 | 70 |
| Policy Tenure (in years) | 10 and 30 |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 7 | 60 |
| Age at Maturity (in years) | 22 | 75 |
| Policy Tenure (in years) | 15 and 30 |
**Last Updated on 04-12-2020
7. Reliance Life Insurance- Group Insurance Plans
They 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. 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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 18 | 80 |
| Contribution (at Inception) | Rs. 1 lakh | No 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 Benefit | Rs. 5000 per member | No limit |
| Group Size | 10 | No limit |
**Last Updated on 04-12-2020
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
| Parameters | Minimum | Maximum |
| Age at Entry (in years) | 14 | 80 |
| Age at Maturity (in years) | 15 | 81 |
| Policy Tenure (in years) | 1 year Renewable |
| Sum Assured | Rs. 5000 per member | No limit |
| Group Size | 10 for Employer Employee Group
50 for Non-employer Employee Group | No limit |
**Last Updated on 04-12-2020
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 : 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 Act, 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 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
