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 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 98.7% as of March 31, 2022.
Reliance Nippon Life Insurance has a wide variety of life insurance policy plans that cater to different insurance requirements of individuals as well as groups. The plans provided by Reliance Nippon Life Insurance are:
Term Insurance plans
Savings and Investment plans
Retirement plans
Health Insurance plans
Child Insurance plans
ULIP
Group Insurance plans
NRI Plans
Moreover, Reliance Life Insurance has accepted multiple awards and recognition since their inception.
Some of the achievements of Reliance Life are mentioned below:
"Claim service provider of the year 2022" awarded by 3rd Annual BFSI Technology Excellence Awards 2022 by Quantic India.
"CX strategy of the year" 9th Edition CX Strategy Summit & Awards 2022 by UBS Forums
"Protection Calculator: Best Technological Innovation" Finnoviti Awards 2022 by Banking Frontiers
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 2021-22, the CSR of Reliance Life Insurance is 98.7%
Graph Showcasing Claim Settlement Ratio of Reliance Life from 2016-20
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.
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.
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 2020-21, the company's Annual Gross Premium is 4,736.45 crores.
The company offers PAN India presence with its 713 extensive networks of offices and a team of 46, 538 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:
Product Categories
Names of Plans
Term Insurance Plans
Reliance Nippon Life Protection Plus Reliance Nippon Life Saral Jeevan Bima
Child Plan
Reliance Nippon Child Insurance Plan
ULIP
Reliance Nippon Life Smart Savings Insurance Plan Reliance Nippon Life Prosperity Plus Reliance Nippon Life Premier Wealth Insurance Plan Reliance Nippon Life Classic Plan II
Retirement Plans
Reliance Nippon Life Immediate Annuity Plan Reliance Nippon Life Smart Pension Plan Reliance Nippon Life Saral Pension Plan
Savings & Investment Plans
Reliance Nippon Life Nischit Samrudhi Reliance Nippon Life Super Bachat Plus Suraksha Plan Reliance Nippon Life Milestone Plan Reliance Nippon Life Super Endowment Plan Reliance Nippon Life Lifelong Savings Reliance Nippon Life Super Money Back Plan Reliance Nippon Life Increasing Money Back Plan Reliance Nippon Life Future Income Reliance Nippon Life Fixed Money Back Reliance Nippon Life Increasing Income Insurance Plan Reliance Nippon Life Bluechip Savings Insurance Plan Reliance Nippon Life Fixed Savings Reliance Life's Guaranteed Money Back Plan
Group Insurance Plans
RNL Group Unit-linked Employee Benefit Plan RNL Group Term Assurance Plus RNL Group Employee Benefits Plan
How To Buy Reliance Life Insurance Plans?
You can invest in the Reliance Life insurance plans in two ways- through the official website of Reliance Nippon Life Insurance Company Limited or PolicyX.Com. Let's discuss both in detail.
Buying through Reliance Nippon official website
Visit the official website of Reliance Nippon Life Insurance Company Limited and scroll down to the end of the page.
Click on the "Buy Online" tab under popular links. Click on the tab "Know More" under Reliance Nippon Life Digi-Term Insurance Plan.
Click on the tab "Calculate" at the top right corner of the page. Fill in the required details, and click on the tab 'Calculate'.
Check the premium and other details.
Make the payment using available payment modes
Buying Through PolicyX.com
Scroll up to the "Reliance Nippon Life Insurance Quotes Online" section present at the top right corner of the page.
Fill in the required details like phone number, name, and DOB, click on the tab on 'continue'. Enter all the details, and click on proceed.
Analyze quotes and choose the Reliance Nippon Life Insurance plans. Click on 'Buy this plan' under the chosen life insurance plan. Add riders if you want.
Click on the tab 'Save & Continue'. Your Proposal is ready now. Click on the tab "Pay Now". It will redirect you to the official website of Reliance Nippon Life Insurance Company Limited.
Fill in the details and make the payment using the available payment options. The company will share the policy documents on the registered email address.
How To File A Claim For Reliance Nippon Life Insurance?
Reliance Nippon Life Insurance: Claim Settlement Process
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.
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 copies (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]
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 loyalty additions for the RNLI Group Unit-linked Employee Benefits plan. On completing each policy year, the policy shall accrue a 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?
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 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 refund of the paid amount and a self-attested copy of KYC information.
6. To whom I need to contact in case I want 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[dot]customerservice[at]relianceada[dot]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 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.
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 a waiver of premium benefit on their savings and investment plans.
13. May I whether I can convert my maturity payout to a regular income facility for my Reliance Nippon Life Milestone Plan?
Yes, there is a settlement option applicable to convert maturity payout in a 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 the 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.
17. 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.
18. How I can register a critical illness claim under Reliance life insurance plans?
To register a critical illness claim under Reliance life insurance plans, you need to submit the following documents:
Critical Illness Claim Form A.
Claim Form B – certificate of illness. The attending doctor must affix his signature and stamp to this.
Original Policy Documents.
Hospital records
19. How I can change my premium paying frequency for the plans offered by Reliance life insurance company?
You can change the premium payment frequency only on policy anniversaries after submitting a duly filled-in and signed request form.
20. How to apply for the duplicate copy of the policy offered by Reliance Life Insurance Company Limited?
Policyholders can apply for the duplicate copy of policy documents by paying the required amount. Also, they have to sign an indemnity.
Find Out What Customers Are Saying
(Showing latest 5 reviews only)
- 4.5/5 (10 Total Rating)
February 24, 2022
anu yadav
Ranchi
Good company. People are nice there. I am a single mother and detected with cancer so i got critical illness rider money for my treatment
February 18, 2022
nidhi
Kanpur
Good service. I was not having knowledge and my husband passed away. Company gave me complete return of my husband saving
September 29, 2021
Bhawna Sangar
Indore
Nice company. Understands the need of its customers. And offers various plans to us. Keep it up Reliance.
September 21, 2021
Nimrat Sakhuja
Mumbai
If you are looking to buy a Life insurance policy, go for Reliance Life Insurance company. Just go for it. Please meri bat mano aaj hi kharid lo.
September 3, 2021
Hansika Tiwari
Meerut
Reliance is a renowned life insurance company, and that s why we brought its life insurance plan. I am happy with the way it works and supports its customers.
Good company. People are nice there. I am a single mother and detected with cancer so i got critical illness rider money for my treatment