Reliance Nippon Life Insurance company is one of the leading life insurance companies of India. People always want something that gives them the security of regular income during post retirement days. Retirement plans provide a safety cover to the insured during post retirement days. The company is one of the largest non-bank supported private life insurers with over 10 million policyholders, a strong distribution network of over 700 branches and over 75,000 advisors as on March 31, 2017. The company holds one of the top Claim Settlement Ratios in the industry, which stands at 95.21% as of March 31, 2017.
Reliance Nippon Life Insurance Company is a part of Reliance Capital, one of India's leading private sector financial services companies and Nippon Life Insurance, also called Nissay, with 25% market share is Japan's largest private life insurer with revenues of Rs. 3,66,198 crore (US$ 55 Billion) and profits of over Rs. 41,380 crores (US$ 6 billion) as of Mar 31, 2016.
You are a young and earning individual. The income you get permits you to enjoy your life, your only concern is whether you will be capable to carry the same lifestyle during post retirement days. A pension plan will help you to save money for your retirement. It ensures that you continue to get some income after retirement, thereby making sure that you do not have to depend on any other person or make any compromises to sustain the same lifestyle.
Invest in a Reliance Retirement Plan today and enjoy life after retirement on your own terms.
Reliance Retirement plans make certain that the insured does not ought to compromise their way of life even after they have stopped earning. The retirement fund will be a useful resource for the insured to have a comfortable retirement life with the independence that he/she has earned.
The company is currently providing three life insurance plans:-
Reliance Pension Builder helps you to save regularly to build your nest-egg for retirement that you can look forward to. You can build your retirement corpus by paying premium for five years, seven years, ten years or throughout the policy term.
Reliance Nippon Life Immediate Annuity assists you to earn a regular income for your entire life. This is a single premium plan where you pay a lump sum premium amount, and opt for a suitable annuity option as per your requirements. Based on the opted annuity option and selected payout frequency, you start receiving regular annuity income.
Reliance Nippon Life Smart Pension Plan is a non participating unit linked pension plan that allows you to save systematically and build up the much needed lump sum to provide you a regular income after your retirement.
The insured can construct a good retirement portfolio by choosing a policy term which 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 also can select to increase his retirement age if required. Moreover, the insured will acquire a steady income depending on the annuity he 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 minimal assured amount based on a number of premiums paid in case of the demise of the insured.
Moreover, tax benefits may be availed on investment in addition on returns as according to the income tax policies.
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. It gives the insured the freedom to live an impartial life while ensuring a regular income for the insured’s lifetime.
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.