Reliance Nippon Life Insurance is one of the leading private insurance companies in India. It is also the biggest non-bank supported life insurance company in India. The company ranks among the top private-sector financial services and non-banking companies when it comes to net worth. Along with the experience of many years in the same domain, the company is offering multiple helpful life insurance products starting from investment plans to wealth creation and Reliance pension plans among others. The company aims to stand by its customers in the hour of need. The company has experts in the insurance industry as their advisors to assist customers with their all queries.
|Business Line||Life Insurance|
To cater to the different needs of customers during the post-retirement years, the company has come out with multiple pension plans stated below all Reliance Pension Plans:
It is a non-linked, participating and deferred pension plan. This Reliance Life pension plan helps you in building funds for a relaxing and peaceful retirement. This plan allows you to start your pension when you want to.
|Entry Age||25 - 65 years|
|Vesting age||45 - 75 years|
|Sum assured||200000 - No Limit|
|Annual Premium||Minimum 25000 to no limit|
|Policy Term||10 - 40 years|
It is a non-linked, non-participating annuity plan that comes with numerous benefits. With Reliance Nippon Life Immediate Annuity Plan, you can easily convert the earnings in regular income. It offers regular income for the whole life. This pension plan allows you to live your life to the fullest.
|Entry Age||20 - 80 years|
|Annuity Installment||1000 - No Limit|
|Purchase Price||100000 - No Limit|
|Annuity payout modes||Monthly, Quarterly, Half-yearly and Annually|
It is a unit-linked, non-participating pension plan that provides assured returns and helps in creating a long term corpus for life and post-retirement years. With Reliance Nippon Life Smart Pension Plan, you can save systematically and can build a lump sum amount to deal with all the expenses and needs of post-retirement years. It also allows you to decide your retirement age.
|Entry Age||18 - 65 years|
|Policy Term||10 - 30 years|
|Vesting Age||45 - 75 years|
|Premium Frequency||Single, Monthly, Quarterly, Half-yearly and Annually|
The insured can construct a good retirement portfolio by choosing a policy term that can offer great returns.
Loyalty additions can be used to enhance the insured’s retirement portfolio. Greater lump sums may be added as top to grow the insured’s retirement fund. The Reliance smart pension plan allows the insured to select the age of his retirement.
The insured can also increase his retirement age if required. Moreover, the insured will acquire a steady income depending on the annuity he/she chooses. Tax-free withdrawals of 1/3rd of the accrued price range upon retirement give the insured the liberty to fulfill wishes.
The Reliance protects the insured’s family by giving the minimum assured amount based on several premiums paid in case of the demise of the insured.
Moreover, tax benefits may be availed on investment in addition to returns according to the income tax policies.
Reliance pension plans are the right instrument to secure your golden years. It is very vital to choose the right plan and the company as well. And Reliance Nippon Life Nippon Insurance Company has come out with the best options for you. Reliance Pension Plans lets in the insured to construct a retirement fund for the future and also allow the insured to determine his retirement age. Reliance products are cost-effective and great in features. It offers the required freedom to live an impartial life while ensuring a regular income for the insured’s lifetime. Reliance Nippon Life Insurance Company carries a great claim settlement ratio and assisting customers with all their queries all the time. It is a trustworthy platform for your next insurance or investment purchase.
You can change your nominee anytime after the insurance issuance via filing duly signed Nomination form and self-attested KYC documents (address and identity proof of the nominee) at the nearest department. The change of nominee should be updated in records within 2 working days after receipt of the request and complete files at the department.
You can change your correspondence address post issue of the policy by filing a written request and address proof at the nearest branch.
Rider addition can be effected on any insurance date, submit issuance by submitting a duly signed request form submitted at the nearest branch. Any rider addition or deletion could be effected within 7 working days after receipt of the request and whole documents at our department.
Yes in the case where you want to revive your pension policy then you can do the same within two years. For the same, you have to pay all unpaid premiums along with the interest before policy vesting as applicable.
Yes, If you want to change the premium payment frequency then you must contact your insurance company for the same as the facility may vary from plan to plan and insurer to insurer.
Last updated on 26-08-2020