Reliance Pension Plans

Reliance Pension Plans
  • 97.71% Claim Settlement Ratio
  • 727 Branches
  • 24*7 Customer Assistance
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Reliance Nippon Life Insurance

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.

  • Claim Ratio: When it comes to the claim settlement, the company makes sure to offer the best service to its customers and hence carry a 97.71% claim settlement ratio.
  • Branches: To reach maximum customers in all over the country, the company has 727 branches with more than 55492 advisors.
  • Customer Assistance: To stand with customers all the time, the company is offering 24*7 customer assistance to customers. It has experts in the insurance industry as their advisors.
Reliance Pension Plans

Statistics

HeadquartersMumbai
Branches727
Business LineLife Insurance
Claim Ratio97.71%

Reliance Nippon Retirement Plans

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:

1. Reliance Nippon Life Pension Builder

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.

Key Features of Reliance Nippon Life Pension Builder

  • Flexibility: The plan comes out with the flexibility to choose the policy term based on when you want to retire.
  • Secure Your Family: Reliance Nippon Life Pension Builder is great at protecting your family with a guaranteed lump sum amount in case of an unfortunate demise.
  • Pay As You Want: With this Reliance pension plan, you will get the opportunity to build a corpus through paying the premium for 5 years, 7 years, 10 years or throughout the policy tenure.
  • Guaranteed Regular Income: Reliance Pension Builder plan offers regular income to the insured for the whole life.

Eligibility of Reliance Nippon Life Pension Builder

Entry Age25 - 65 years
Vesting age45 - 75 years
Sum assured200000 - No Limit
Annual PremiumMinimum 25000 to no limit
Policy Term10 - 40 years

2. Reliance Nippon Life Immediate Annuity Plan

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.

Key Features of Reliance Nippon Life Immediate Annuity Plan

  • One Time Payment: Under this Reliance pension plan, you have to pay only once and will get the benefits for the lifetime
  • Guaranteed Income: This annuity plan offers guaranteed income for a lifetime. It is designed with a purpose to secure your post-retirement needs.
  • Flexibility: The plan offers the flexibility to choose an annuity from 3 different annuity payout options.
  • No Medical Test Required: To enrolled yourself under Reliance Immediate Annuity Plan, you don't have to undergo a medical test.

Eligibility of Reliance Nippon Life Immediate Annuity Plan

Entry Age20 - 80 years
Annuity Installment1000 - No Limit
Purchase Price100000 - No Limit
Annuity payout modesMonthly, Quarterly, Half-yearly and Annually

3. Reliance Nippon Life Smart Pension Plan

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.

Key Features of Reliance Nippon Life Smart Pension Plan

  • Build An Adequate Corpus: This plan allows you to build an adequate corpus that will be enough to provide the much-needed assistance during your retirement period.
  • Allow You To Decide Your Retirement Date: With Reliance Smart Pension Plan, it is up to you to decide when you want to retire. You can choose the vesting age 45 - 75 years as per your convenience.
  • Protect Your Loved Ones: Reliance Smart Pension Plan can also protect your family with a guaranteed amount based on total paid premiums.

Eligibility of Reliance Nippon Life Smart Pension Plan

Entry Age18 - 65 years
Policy Term10 - 30 years
Vesting Age45 - 75 years
Premium FrequencySingle, Monthly, Quarterly, Half-yearly and Annually

Benefits Of Reliance Pension Plans

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.

Why Reliance Smart Pension Plans?

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.

FAQ's

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