Reliance Nippon Life Insurance Company is one of the leading private life insurance companies in terms of individual WRP (weighted received premium) and new business WRP. It is one of the biggest non-bank supported private life insurance with a strong distribution network of 717 branches. Reliance Nippon life insurance believes in serving the customers first, which can significantly boost business growth.
Reliance has done a tremendous job in the financial sector and thanks to the partnership with the reputed Japanese brand Nippon Life Assurance, the company has attained the title of Top 3 Most Trusted Life Insurance Service Brands. To assist your family in case of your demise and to offer several additional benefits, the company has come out with two effective yet affordable term insurance plans.
Reliance Nippon Life Protection Plus is an affordable life insurance plan that provides financial protection to your loved ones in case of your unfortunate demise. Keeping specific needs in mind, the plan provides substantial life cover and multiple options to ensure that you/your family have holistic and adequate life insurance.
Key Features
Multiple Plan Options: The plan allows you to choose from multiple variants according to your requirements.
Additional Life Cover: The plan comes out with additional life cover at key stages of life.
Healthy Lifestyle: The plan is available at cheaper premiums for those who enjoy a healthy lifestyle.
Tax Benefits: Tax benefits may be applicable as per prevailing income tax laws.
Death Benefit: In case of the unfortunate demise of the insured, the death benefit shall be paid to the nominee(s)/beneficiary(s) as per the plan option chosen at inception.
Eligibility Criteria
Entry age | Whole life cover- 25 years to 55 years All other variants: 18 years to 60 years |
Maturity age | 28 years to 75 years |
Policy term | 10 years to 40 years |
Sum assured | 25 lakhs to no limit |
**Last Updated on 21-12-2020
A term plan that offers great options to ensure the financial security of the family by granting timely coverage. With higher sum assured options at lower premiums and a hassle-free online settlement process, the plan is considered as the best for family protection.
Key Features
Eligibility criteria
Entry age | Whole life cover- 25 years to 55 years All other variants: 18 years to 60 years |
Maturity age | 28 years to 80 years |
Premium payment term | Limited Pay: 65 less age at entry Regular Pay: equal to the policy term |
Premium payment frequency | Yearly, Half-yearly, Quarterly and Monthly |
Base sum assured | 25,00,000 (multiples of 1,00,000) / No Limit, subject to Board Approved Underwriting Policy |
**Last Updated on 21-12-2020
The benefit of this rider will be paid to the nominee on the death of the life assured caused solely due to an accident.
When this rider is attached to the base policy, the cover becomes more lucrative for the family and the assured. Here, the death benefit on accidental death is paid in a lump sum. While in case of permanent disability, the rider sum assured taken is paid into equal yearly instalments for a fixed term of 10 years.
On taking this rider, your family will receive financial support through the payment of rider sum assured either in a lump sum or annual instalments for 10 years.
It is a non-linked and non-participating protection rider. If you opt for this rider, the beneficiary will receive rider sum assured as a lump sum benefit.
It is an accelerated benefit protection rider that you can attach to a base group insurance policy to cover against the financial loss due to accidental disability.
The rider provides adequate financial protection in the form of monthly income in case of your demise.
It offers extra coverage that can be used to enhance the basic coverage and to compensate for the medical expenses arising due to surgery with the additional sum assured. The policyholder will receive lump sum payment on any listed surgeries and the family can be rescued from financial suffering.
The rider is exclusively made to secure the lives of the policyholder from 25 critical illnesses by providing additional sum assured on the detection of any illness.
It offers coverage against financial loss due to accidental total and permanent disability or even accidental death.
You can invest in the Reliance term insurance plans in two ways- through the official website of the company or through PolicyX.com. Let's discuss both in detail.
Buy via Reliance Nippon Life Insurance Company
The other Reliance term plan is not available online. You have to visit the nearest branch of the company to invest in the same.
Buy Via PolicyX.com
1. How to track a Reliance Term Insurance claim status?
You can track your claim by visiting the official website of the company and login into your online policy account. You can also check the same at the nearest branch of the company.
2. What happens if I discontinue paying the Reliance term insurance premium?
The policy will get lapse if the premiums are not paid within the grace period (30 days). However, you have the option to revive the policy within three years from the lapsed date (as per the revival conditions).
3. Are there any exclusions in the Reliance Term Insurance policy?
The company will not pay any claim on death if the life assured, whether sane or insane, commits suicide within 12 months from the date of issue of this policy or the date of reinstatement of the policy.
Last updated on 21-12-2020
