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Reliance Term vs Pramerica Term

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.

Pramerica Term

Pramerica Life Insurance offers wide range of solutions to individuals as well as groups. They have PAN India presence with 137 branches.

COMPANY DETAILS

Reliance Term

Pramerica Term

Rating	Rating 4.6	Rating 4.6
Number of term insurance plans and add-ons	No. of Plans -	No. of Plans -
Annual Premiums Collected (2023-24)	Annual Premiums Collected (2023-24) 5122.1 Cr	Annual Premiums Collected (2023-24) 1495.39 Cr
Payout Options	Payout Options Lump sum, monthly, or a combination of both	Payout Options Lump sum, monthly, or a combination of both
Claim ratio	Payout Options 98.6%	Payout Options 98.8%
Solvency Ratio	Solvency Ratio 2.3	Solvency Ratio 4.1
Pan India Presence	Pan India Presence 713+	Pan India Presence 131
Riders Available	Riders Available Major Surgical Benefit Rider, Critical Condition Rider, Family Income Benefit Rider, Accidental Disability Rider	Riders Available Accidental Death Benefit Rider, Accidental and Total Permanent Disability Rider, Critical Illness Rider, Waiver of Premium Rider
Policy Term	Policy Term 5 to 30 years	Policy Term 10 to 30 years

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.

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

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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