Reliance Nippon Life Insurance
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  • 98.67% CSR
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Reliance Life Insurance: Overview

Reliance Nippon Life Insurance Company is amongst the leading private sector life insurance companies in India. The company is one of the largest non-bank-supported private life insurers with over 10 million policyholders, a strong distribution network of 713 branches, and 46,538 advisors as of March 31, 2022. The company holds a Claim Settlement Ratio of 98.67% as of March 31, 2022.

Reliance Nippon Life Insurance Company ensures to look after your insurance needs by offering:

why-choose

  • Affordable Premiums

  • Wide Scope Of Coverage

  • Customizable Plans

  • Rider Benefits

  • Enhanced Coverage Benefit Option

 

Key highlights of Reliance Nippon Life Insurance

To get more insight into Reliance Nippon Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

Reliance Nippon Life Insurance has a Solvency Ratio of 2.3 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Features of Reliance Nippon Life Insurance

There are various features to Reliance Nippon Life Insurance Plan. Lets understand each of them in detail:

  • Solvency Ratio-Reliance Nippon Life Insurance has a Solvency Ratio of 2.3 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.
  • Claim Support-Claim support of an insurer is a metric that helps you analyze its claims-settling ability. As per the IRDAI annual report of 2022-23, the claim support of Reliance Nippon Life Insurance is 98.67%
  • Annual Premiums-As per the annual report of IRDAI 2022-23, The Annual premium of Reliance Nippon Life Insurance is 5,122 Cr.
  • PAN India Presence-Reliance Nippon Life Insurance company ensures that the policyholder can directly visit their nearest branch office for any of their policy-related or claim-related queries. Reliance Nippon Life Insurance has 713 branches and 46,538 advisors to cater to every customer across India.

Benefits of Reliance Nippon Life Insurance Plans

There are multiple benefits of Reliance Nippon Life Insurance Plans. Read below to understand the plethora of advantages provided by the insurer.

Affordable Premiums:

Term Insurance plans provided by Reliance Nippon Life Insurance have affordable premium rates allowing customers to invest in the best insurance plans offering pure protection and financial security to you and your family.

Wide Scope Of Coverage:

With multiple plan categories offered by Reliance Nippon Life Insurance Plans, customers can avail a wide scope of coverage such as child plans, investment plans, retirement plans, and other such investment and protection plans.

Customizable Plans

Investment and savings plans offered by Reliance Nippon Life Insurance provide customers with the option to opt and pre-set fund allocation as per their requirements based on their life stage. These plans also allow insured individuals to avail liquidity through partial withdrawal of funds in case of emergencies.

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Rider Benefits You Can Avail With Reliance Nippon Life Insurance Plans

Here are the rider options you can avail with Reliance Nippon Life Insurance Plans to enhance your coverage:

Maternity Benefit Rider

Reliance Nippon Life Accidental Death Benefit Rider

Provides a lump sum equal to the rider sum assured in case of death due to accident of life assured.

Maternity Benefit Rider

Reliance Nippon Life Accidental Death and Disability Rider

Provides a lump sum equal to the rider sum assured in case of death due to accident of life assured.

Maternity Benefit Rider

Reliance Nippon Life Accidental Death and Disability Plus Riders

Provides a lump sum equal to the rider sum assured in case of death due to accident of life assured. 

Maternity Benefit Rider

Reliance Nippon Life Critical Illness Rider

Provides a lump sum amount equal to the rider sum assured if diagnosed with any of the 25 critical illnesses including cancer, heart attack, paralysis, major organ transplant, and many more

Documents Required to Purchase Reliance Nippon life insurance Life Insurance Policy

Here is the list of documents required to buy Reliance Nippon Life Insurance Plans:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Reliance Nippon Life Insurance Plans?

Reliance Nippon Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Life Insurance
  • Step 1

    Fill out the form given at the top of this page with the necessary details.

  • Step 2

    Select your income and city. Click on 'Proceed'.

  • Step 3

    Update your education and occupation details.

  • Step 4

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 5

    Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Life Insurance
  • Step 1

    Visit the Reliance Nippon Life Insurance Company's official website and scroll down to the end of the page.

  • Step 2

    Click on the "Buy Online" tab under Popular Links.

  • Step 3

    Click on the tab 'Know More' under Reliance Nippon Life Digi-term Insurance plan.

  • Step 4

    Click on the tab 'Calculate' at the top right corner of the page.

  • Step 5

    Fill in the required details, and click on the tab 'Calculate'. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File Reliance Nippon Life Insurance Claims?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at Bandhan Life Insurance involves the following three steps:

Online Process

Your Occupation
1

Claim Intimation

Inform the company about the incident via various channels-either by writing an email to Reliance Nippon Life at claims@Reliancenippon.com, calling the toll-free number (1800-103-7766), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Your Occupation
2

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim.

In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee.

In case of an accidental death: The same documents with two additional ones: FIR and post-mortem report.

Your Occupation
3

Claim Settlement

After receiving all the documents and claim forms, the insurer will verify the details as per their norms. If they require any additional details they will contact you via call or email. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over a call or an email.

Offline Process

Reliance Nippon Life insurance claim settlement procedure can be reported by visiting the local Reliance Nippon Life Branch Office. For the details of Reliance Nippon Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Your Occupation

Exclusions of Reliance Nippon Life Insurance Plans

  • Death occurred due to pandemic such as covid-19 or ebola will not covered by the company.
  • Death, due to indulging in any type of adventure sports.
  • Death due to consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

Reliance Nippon Life Insurance stands out as a trusted provider of life insurance solutions. It offers a wide range of products tailored to meet the diverse needs of individuals and families. With its commitment to customer-centric services, financial security, and innovative offerings, Bandhan Life Insurance plays a significant role in helping people safeguard their future and achieve their long-term financial goals. By focusing on trust, transparency, and convenience, it continues to establish itself as a reliable partner in the financial well-being of its policyholders. For more info related to this, you you can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at helpdesk@policyx.com.

Life Insurance

More Queries?

If you have any more queries regarding Reliance Nippon Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

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 Benefits plan?

Yes, there are loyalty additions for the RNLI Group Unit-linked Employee Benefits plan. On completing each policy year, the policy shall accrue a loyalty bonus and be 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?

The base sum assured for the ’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 the 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 a refund of the paid amount, and a self-attested copy of KYC information.

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

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

7. 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 that is due for payment and makes the payment by choosing from different online modes of payment available such as net banking, credit/debit cards, e-wallets, etc.

8. 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.

9. Do Reliance Nippon life insurance policies offer a waiver of premium benefits?

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

10. 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.

11. How I can register a claim under Reliance Nippon insurance for Accidental Death Benefit/Total & Permanent Disability?

To register a claim under Reliance Nippon insurance for Accidental Death Benefit/Total & Permanent Disability, you must submit the following documents: Claim form A. Claim form B. Original Policy Documents. Hospital records including biopsy reports, diagnosis certificates, lab reports, etc. FIR from the police station, and the relevant investigation report. If possible, a published article in the news of the incident led to the claim.

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varun saxena

Written By: Varun Saxena

I am a passionate content writer with over three years of experience in the insurance domain. An avid learner, I always tries stays ahead of the industry's trends, ensuring my writing remains fresh and includes the latest insurance shifts. Through my work, I strive to engage with targeted insurance readers.

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