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Reliance Term vs Sud Life

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.

Sud Life

Star Union Dai-ichi Life Insurance is a joint venture between Bank of India, Union Bank of India and Dai-ichi holdings with 19000+ bank branches and 15 million customers.

COMPANY DETAILS

Reliance Term

Sud Life

Rating	Rating 4.6	Rating 4.6
Number of term insurance plans and add-ons	No. of Plans -	No. of Plans -
Annual Premiums Collected (2024-25)	Annual Premiums Collected (2024-25) 5536.9 Cr	Annual Premiums Collected (2024-25) Rs 5746.37 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 98.74%	Payout Options 97.42%
Solvency Ratio	Solvency Ratio 1.6	Solvency Ratio 2.2
Pan India Presence	Pan India Presence 713+	Pan India Presence 11k branches
Riders Available	Riders Available Major Surgical Benefit Rider, Critical Condition Rider, Family Income Benefit Rider, Accidental Disability Rider	Riders Available Accidental Death and Total & Permanent Disability Benefit Rider
Policy Term	Policy Term 5 to 30 years	Policy Term 5 to 40 years
Inception year	Inception year 2001	Inception year 2007
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 0.028
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 142
Awards and recognitions	Awards and recognitions BFSI Leadership Awards 2025, ACEF Global Awards 2025, Future of Insurance Summit & Awards 2025	Awards and recognitions Gartner Innovation Awards (2020), Golden Peacock CSR Award (2024), BFSI Leadership Awards (2025)
Recommended Videos	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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