Reliance Term vs Acko Term Insurance

  • Multiple policy tenure to choose from
  • Premiums starting @Rs 15/day
  • 30-day grace period
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Reliance Term vs Acko Term Insurance

Reliance Term

Reliance Nippon Term Insurance is one of the largest non-banks-supported private life insurers with over 10 million policyholders and 713 branches.

Acko Term Insurance

Acko Insurance is a private sector general insurance company in India. Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India in September 2017

COMPANY DETAILS Edit Reliance Nippon Term Insurance Plans

Reliance Term

 Edit Acko Term Insurance

Acko Term Insurance
Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

5536.9 Cr

Annual Premiums Collected (2024-25)

₹64.05 crore
Payout Options

Payout Options

Lump sum, monthly, or a combination of both

Payout Options

Lump-Sum Payment, Fixed Monthly Payout, Increasing Monthly Payout and Lump Sum + Monthly Income
Claim ratio

Payout Options

98.74%

Payout Options

99.38%%
Solvency Ratio

Solvency Ratio

1.6

Solvency Ratio

1.96
Pan India Presence

Pan India Presence

713+

Pan India Presence

-
Riders Available

Riders Available

Major Surgical Benefit Rider, Critical Condition Rider, Family Income Benefit Rider, Accidental Disability Rider

Riders Available

Accidental Death Benefit, Accidental Total & Permanent Disability, Critical Illness Benefit
Policy Term

Policy Term

5 to 30 years

Policy Term

5 to 40 years
Inception year

Inception year

2001

Inception year

2016
Complaint ratio per ₹1 crore of premium collected

Complaint ratio per ₹1 crore of premium collected

0.135

Complaint ratio per ₹1 crore of premium collected

-
Average claim settlement time

Average claim settlement time

15 days

Average claim settlement time

15 days
IRDAI registration number

IRDAI registration number

121

IRDAI registration number

164
Awards and recognitions

Awards and recognitions

BFSI Leadership Awards 2025, ACEF Global Awards 2025, Future of Insurance Summit & Awards 2025

Awards and recognitions

FICCI "Most Innovative Insurer", Golden Peacock Awards for product innovation, and multiple Effie India Awards
Recommended Videos
Reliance Term Insurance Plans: Affordable Protection with High Claim Settlement Ratio

Reliance Term Insurance Plans: Affordable Protection with High Claim Settlement Ratio

Know More About Companies

Overview

Reliance Term Insurance: Overview

Reliance Nippon, a joint venture between Reliance Capital and Nippon Life Insurance, offers a range of insurance products such as savings, investments, retirement, child, ULIPs, and term insurance plans. Their term insurance plans have been gaining popularity due to their attractive features such as affordable premiums, flexible policy terms, tax benefits, and more. Moreover, Reliance is a trusted brand name for the past several years.

What are some of the
Benefits
that set them apart?

  • Early return of premium

  • Income benefit

  • Increasing cover option

  • Life cover plus income plan

  • Affordable premiums

  • Special premiums for women and non-smokers

Riders

Riders You Can Avail With Reliance Life Term Insurance Plans

You can avail of the following riders with your Reliance term insurance plans as per your needs.

Name of the Riders Benefits
Reliance Life Major Surgical Benefit Rider Under this rider, the customers get coverage for the 33 different categories of surgeries, which include major surgeries such as open heart, kidney transplant, and lung transplant.
Reliance Life Critical Condition Rider Under this rider, the customer gets a lumpsum payout if diagnosed with any critical illness among the 25 listed diseases.
Reliance Life Family Income Benefit Rider This rider provides regular income to the policyholder until the rider's tenure if the policyholder is diagnosed with any critical illness or permanent disability that affects the policyholder's earning ability for more than 6 months.
Reliance Life Accidental Disability Rider Under this rider, all the future premiums of term plans will be waived off if the policyholder has any disability due to an accident and can't earn for more than six months.

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Acko Term Insurance

Explore India’s best-selling Term insurance plans below

Acko Insurance is a private sector general insurance company in India. Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India in September 2017

Acko Life Flexi Term

Acko Life Flexi Term

Flexi Term Plan by Acko Life Insurance is a flexible term insurance plan that offers financial benefits to your family in case of your uncertain death...

Unique Features

  • Will Creation Services
  • Flexi Benefit
  • Optional Riders

Acko Life Flexi Term (Pros)

Acko Life Flexi Term

Acko Life Flexi Term (Cons)

Acko Life Flexi Term

Acko Life Flexi Term (Other Benefits)

Acko Life Flexi Term

Acko Life Flexi Term (Eligibility Criteria)

Acko Life Flexi Term

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.

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