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Reliance Term Insurance Plans: Affordable Protection with High Claim Settlement Ratio
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Reliance Life Term Insurance
Reliance Life Term Insurance
Reliance Nippon Life Term Insurance is one of the largest non-bank-supported private life insurers with over 10 million ...Read More
98.9%
Claim settlement ratio
5710.68 Cr
Annual Premium
2.35x
Solvency ratio
🛡️ IRDAI Approved
⭐ 4.6/5 · 928 reviews
✅ 98.9% claim settlement ratio
📊 2.35x solvency ratio
🌐 713+ pan-India
What you get with Reliance Life Term Insurance
The headline features and policy mechanics, at a glance.
Annual Premium 5710.68 Cr
Affordable premium options starting from entry-level to comprehensive whole-life protection.
98.9% claim settlement ratio
Industry-leading approval rate on eligible term insurance claims in the most recent fiscal year.
2.35x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
4+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
713+ pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
Reliance Term Insurance: Overview
Reliance Nippon Life Insurance is a life insurance company that provides financial protection and long-term savings solutions to help secure your family's future. Their term insurance plans have been gaining popularity due to attractive features such as affordable premiums, flexible policy terms, and tax benefits. Moreover, Reliance has been a trusted brand name for several years.
Key Features of Reliance Term Insurance Plans:
- Early return of premium
- Income benefit
- Increasing cover option
- Life cover plus income plan
- Affordable premiums
- Special premiums for women and non-smokers
Video reviews
Reliance Term Insurance Plans
Riders You Can Avail With Reliance Life Term Insurance Plans
Enhance your term plan with optional add-on riders for broader protection.
Reliance Nippon Life Major Surgical Benefit Rider
Under this rider, customers get coverage for 33 specified major surgeries, including open heart surgery, kidney transplant, and lung transplant.
Reliance Nippon Life Critical Condition Rider
Under this rider, the customer gets a lump sum payout upon diagnosis of any of the 25 listed critical illnesses.
Reliance Nippon Life Family Income Benefit Rider
This rider provides regular income to the policyholder if diagnosed with a critical illness or permanent disability that affects their earning ability for more than six months.
Reliance Nippon Life Accidental Disability Rider
Under this rider, all future premiums for the term plan will be waived if the policyholder becomes disabled due to an accident and is unable to earn for more than six months.
Benefits of Reliance Life Term Insurance
Reliance Life Term Insurance is one of the most trustworthy and reliable insurer partners. Here are the reasons why you should choose Reliance Life Term Insurance Plans:
01
Special Premium Rates for Non-Smokers and Women
Reliance Nippon Life term plans offer special premium discounts to non-smokers and women.
02
Affordable Premiums
Reliance term plans come with affordable premium rates, ensuring that customers from every income bracket can provide a financial cushion to their loved ones. Premiums for term insurance plans start at just Rs 784/month.
03
Tax Exemption
Reliance term plans offer tax benefits under Section 80C of the Income Tax Act, 1961, allowing customers to claim a tax rebate of up to ₹1.5 lakh on premiums paid in the same financial year.
04
Good Claim Settlement Ratio
Reliance Nippon Life Insurance had a Claim Settlement Ratio (CSR) of 98.74% in 2021-2022, which is considered excellent in the insurance industry.
05
Availability of Multiple Riders
Reliance term plans offer flexibility to customize coverage by adding riders for enhanced protection.
Documents required
For policy purchase and claim submission. Have these ready before you start.
- Photo ID Proof
- Age Proof
- Address Proof
- Medical Records
- Income Proof
Eligibility Criteria of Reliance Term Insurance Plans
To purchase a Reliance Nippon Life term insurance plan in 2025, certain eligibility criteria must be met. Let's understand the eligibility criteria in detail.
Age: Individuals between 18 and 65 years of age are eligible to apply for a term life insurance plan. The policyholder's age is a key factor in determining the term insurance plan's premium.
Health condition: Since a Reliance Nippon Life term insurance plan insures the policyholder's life, most insurers require a health examination to assess current health and inherent risks. Honest disclosure of health conditions and medical history is crucial to avoid issues during claim settlement.
Income: Reliance Nippon Life term insurance plans have no specified minimum income requirement. However, bank statements and salary slips may be requested to determine the appropriate coverage for your term plan.
Smoking habits: If you smoke or have a history of smoking, you must disclose this information to the insurer. This is because smokers are exposed to severe health hazards like lung cancer.
Citizenship: Indian citizens can purchase a Reliance Nippon Life term insurance plan in India. NRIs and PIOs can also avail the benefits of a term insurance plan in India.
Additional Benefits Offered By Reliance Term Insurance
Reliance Nippon Life term insurance plans offer various additional benefits to policyholders.
Inbuilt Critical Illness Cover
Term plans such as Reliance Nippon Life Super Suraksha offer inbuilt critical illness cover or benefits for untimely death, along with a return of premium option if you survive the entire policy term.
Long Term Coverage
Reliance Nippon Life Protection Plus offers long-term coverage at an affordable premium.
Affordable Premium
Reliance Nippon Life Saral Jeevan Bima offers term insurance coverage at affordable premiums.
High Sum Assured Discount
Reliance Nippon Life Protection Plus offers higher sum assured discounts.
Types of Reliance Term Insurance Plans
Reliance Nippon Life Insurance offers various term insurance plans to cater to diverse customer needs.
Basic Term Plan
Plan Name: Plan Name: Reliance Nippon Life Saral Jeevan Bima
This plan provides only death benefits at an affordable price, with no maturity benefit.
Term Plan with Increasing Cover Plan
Plan Name: Plan Name: Reliance Nippon Life Protection Plus
This plan provides an option to increase your coverage multiple times during the policy term.
Term Plan with Return of Premium
Plan Name: Plan Name: Reliance Nippon Life Super Suraksha
This plan returns 105% of the total premium paid at maturity.
How to Buy a Reliance Life Term Insurance Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the Reliance Life Term Insurance official website to compare and choose a suitable term plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
The claim settlement process for Reliance Nippon Life term plans is simple and hassle-free. Reliance Nippon Life Insurance offers both online and offline options for claim settlement. Here's how you can easily submit and settle your claim:
- Report your Reliance Nippon Life term plan claim by visiting the claims section of the Reliance Nippon Life Insurance website.
- Reliance Nippon Life's customer support team will review your claim form, assist you, and notify you of any pending documents.
- Once you have submitted your claim and the insurer has received all necessary documents, your claim will be processed and settled.
- Claims can also be reported by visiting a local Reliance Nippon Life Insurance branch office. You can find details of Reliance Nippon Life Insurance branches on their website. Submit the essential documents at the branch for claim processing.
- Log in to the Reliance Life Term Insurance customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
- Visit the official website of Reliance Nippon Life Insurance Company.
- Click on the "Buy Online" tab under 'Popular Links'.
- Click on 'Know More' under the Reliance Nippon Life Term Insurance plan.
- Click on the 'Calculate Premium' tab at the top right corner of the page.
- Fill in the required details and click on the 'Buy' button.
Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanFrequently asked questions
The 16 most-asked questions about Reliance Life Term Insurance, answered.
Yes, Reliance Nippon Life Insurance is among the top life insurance providers in India and aims to provide comprehensive coverage at nominal premiums.
According to IRDAI’s annual report for the financial year 2022-23, Reliance Nippon Life Insurance has a claim settlement ratio of 97.60%.
Reliance Nippon Life Insurance provider is a life insurance company fully owned by Reliance Capital, a private-sector financial services and non-banking company.
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.
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).
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.
The company promises to settle the claims of your Reliance Term Plan in 10 days, provided all the important information is submitted to the company and where 4 or more annual premiums have been paid.
To revive your lapsed Reliance Term Insurance within 2 years from the due date of the first unpaid premium. To revive your policy you need to pay all the outstanding premiums along with the additional interest.
Yes, one can avail a tax benefit on the premiums paid under Section 80C of the Income Tax Act, 1961.
Individuals between the ages of 21 and 60 can apply for this term plan.
The policy term for the term plan ranges from 5 to 30 years.
Yes, you can choose to pay premiums yearly, half-yearly, or quarterly.
Reliance offers various riders, such as the Major Surgical Benefit Rider, the Critical Conditions Rider, the Family Income Benefit Rider, the Accidental Death Rider, and the Total and Permanent Disablement Rider.
No, these term plans do not acquire any surrender value.
Yes, you can make a partial withdrawal after the completion of the lock-in term according to the specific terms and conditions of your policy.
Yes, Reliance Life Insurance is absolutely safe.
Customer satisfaction
Aggregate ratings from 928 verified PolicyX customers who bought a Reliance Life Term Insurance plan.
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Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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