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Reliance Nippon Life Insurance

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Reliance Nippon Life Insurance
Highlights
Claim Settlement Ratio98.49%
Customer Care9:00 AM to 6:00 PM
Death Benefit Paid For7,866 Policies
Inception2001
Presence713 Branches
Total Death Benefit PaidRs. 157.03 Crore

Recognised as India’s 5th Most Valuable Insurance company by Brand Finance, Reliance Nippon Life Insurance is a leading private life insurance company in India. With a network of 713 offices and 61,036 advisors, the brand serves over 10 million policyholders with a wide range of life insurance plans. (1)

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Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Why Choose Reliance Nippon Life Insurance?

  • Claim Settlement Ratio: For FY 2022-23, Reliance Nippon Life Insurance’s claim settlement ratio was 98.74%.


  • A 10-Day Claim Settlement Guarantee: The insurer provides a 10-Day Claim Settlement Guarantee, stating that all the death claims received from Life Policies where four or more annual premiums have been paid will be settled in 10 calendar days. In case of delays, applicable interest as per IRDAI regulations will be paid.


  • Extensive Network of Offices & Advisors: Reliance Nippon has 713 network offices along with a team of 61,036 advisors who are always on the verge of helping individuals select the right policy according to their needs.


  • High Sum Assured Options: Many of their plans offer the option of a high sum assured that provides significant financial protection for your family.

  • Wealth Creation: Savings and investment plans by the insurer help policyholders build wealth over time and create a retirement corpus.
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Key Metrics

Metrics

Value

No. of Products

30

No. of Riders

4

Minimum Eligible Age

18 Years

Claim Settlement Ratio

98.74%

Starting Premium

₹3,000

Minimum Sum Assured

Rs. 2,00,000

Eligibility To purchase Reliance Nippon Life Insurance Plan

To buy a Reliance Nippon Life Insurance policy, the following eligibility criteria must be met by applicants.


  • Age must be within 18-60 years. However, the exact age varies depending on the plan.


  • A steady source of income is a must, whether from salary or business. For the proof of income during the application procedure, three months of salary slips or six months of bank statements will be required.


  • Some policies may require individuals to undergo a medical evaluation or provide health information.


  • ID proof will be needed for the KYC verification.

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Types of plans offered by Reliance Nippon Life Insurance

Here are some of the different types of life insurance policies offered by Reliance Nippon Life Insurance.


  • Term Insurance Plans

  • Savings Plans

  • Investment Plans

  • Pension/Retirement Plans

  • Group Insurance Plans

  • NRI Plans

Top Plans offered by Reliance Nippon Life Insurance

Below are some of the most popular and frequently chosen Reliance Nippon Life Insurance plans.


Plan Name

Plan Type

Starting Premium

Maturity

Reliance Nippon Life Super Suraksha

Term

₹3,147

75 to 80 years

Reliance Nippon Life Smart Pension Plan

Pension

₹3,000

45 to 75 years

Reliance Nippon Life Smart Savings Insurance Plan

ULIP

₹48,000

18 to 70 years

Riders Offered by Reliance Nippon Life Insurance

Reliance Nippon Life Insurance offers the below riders, which you can add to your base policy to enhance its coverage.


  • Reliance Nippon Life Accidental Death Benefit Rider: In case of life assured’s accidental death, a lump sum equal to the rider sum assured is provided.


  • Reliance Nippon Life Term Life Insurance Benefit Rider: Get a lump

sum benefit on the policyholder’s unfortunate death.


  • Reliance Nippon Life Accidental Death and Disability Rider: In case of life assured’s accidental death, a lump sum equal to the rider sum assured is provided. In case of total and permanent disability, an amount equal to the rider sum assured is paid in equal annual installments over the years.


  • Reliance Nippon Life Accidental Death and Disability Plus Rider: In case of policyholder’s accidental death, a lump sum equal to the rider sum assured is provided. In case of total and permanent disability, an amount equal to the rider sum assured is paid in equal annual installments over the years. Also, the future premiums will be waived.

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How to Buy Reliance Nippon Life Insurance Policy Online

You can buy a Reliance Nippon Life Insurance policy both offline and online through InsuranceDekho or via the insurer's website.

Buy Reliance Nippon Life Insurance Policy Online Through Insurer

You can buy a Reliance Nippon life insurance policy through the insurer by following the step-by-step procedure on their website.

Buy Reliance Nippon Life Insurance Offline Through Insurer

You can visit the nearest Reliance Nippon Life Insurance branch office and get help from their customer representative regarding the different available plans and application procedures.



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Documents Required

Below are some of the documents that need to be submitted by the applicant to buy a Reliance Nippon Life Insurance plan.


  • Identity Proof (Aadhar Card/Passport/Voter ID/Driving License/PAN Card)

  • Duly filled and signed proposal form

  • Address Proof

  • Proof of Income

  • Salary slips (last three months)

  • Bank statements (last six months)

  • Income tax returns (ITRs)


  • Medical examination reports, as requested by the insurer for specific plans.

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How to Claim?

Below is the step-by-step claim procedure for Reliance Nippon Life Insurance.


Step 1) On the Reliance Nippon Life Insurance official website, find the “Claims” option on the homepage.


Step 2) You will see various types of claims forms once you scroll down. Click on “Know More” to download the claim form.


Step 3) Collect all required documents, such as the policy document, medical reports, Photo ID proof, policyholder’s death certificate, and any other relevant supporting documents.


Step 4) Fill out the form with all necessary details and send it with all required documents to Reliance Nippon Life Insurance’s head office or a nearby branch office. You can also send scanned copies of the filled claim forms via email to rnlife.claims@relianceada.comor courier them to the below address: (2)


“The Claims Department, Reliance Nippon Life Insurance Limited, Office no. 701 & 702, 7th floor, Silver Metropolis, Off Western Express Highway, Goregaon East, Mumbai – 400063.”


Step 5) Upon successful verification of the documents, the insurer will disburse the payout within 10 Calendar Days. In case of a delay above regulatory turnaround time (TAT), applicable interest will be paid.


For expert claim settlement assistance, do not hesitate to reach out to InsuranceDekho customer support via phone (755 1196 989) or email (support@insurancedekho.com).



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Modes Of Premium Payment Options Offered By Reliance Nippon Life Insurance

Reliance Nippon Life Insurance provides multiple premium payment options for insureds to make the premium payments.


  • UPI

  • Credit/Debit Cards

  • EMI

What is the Grace Period for Reliance Nippon Life Insurance Premium Payments?

Reliance Nippon Life Insurance provides a 15 to 30-day grace period, depending on the chosen policy. In this period, the insured can make the premium payments after the due date. Still, if the payments are not made in the specified grace period, the policy will lapse, and all the associated benefits will immediately cease.


If the policyholder dies during the grace period, the claim will still be processed only if the premiums are paid. But if the grace period ends and payments are not made timely, no claim will be paid out. So, it’s important to pay all the premiums timely to keep the policy active and continue enjoying all the benefits.

Steps to Revive Lapsed Reliance Nippon Life Insurance Policy

If the insured discontinues making premium payments even during the grace period, the active plan automatically lapses. However, the insurer offers the choice to revive the policy within five consecutive years from the first unpaid premium due date and before the policy expires.


Follow the below steps to revive the lapsed Reliance Nippon Life Insurance policy.


  • Contact Insurer: Get in touch with the Reliance Nippon Life Insurance customer support team and let them know that you want to revive your lapsed policy.


  • Pay Outstanding Premium With Penalty: To revive the policy, the insured needs to pay the arrears of premiums along with the prevailing interest rates. The rate of interest for revivals for FY 23-24 is 7.50% p.a. compounded yearly.


Submit Medical Report: Depending on the timeline for when you are reviving the policy, the insurer may request a medical report. For instance, if the policy revival procedure is done within six months, a medical report may not be required, but after six months, medical report submission becomes mandatory.

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How To Check Reliance Nippon Life Insurance Status Online?

Follow the below steps to check the Reliance Nippon Life Insurance policy status online via InsuranceDekho.


  • Head to our official website and find the “Login” option in the top-right corner.

  • To log in, fill in your registered mobile number and OTP.

  • Once you are successfully logged in, the dashboard with a list of all your policies will be visible. Among them, select the Reliance Nippon Life policy to view its current status.


Here’s how you can check Reliance Nippon Life Insurance policy status through offline channels:


  • Get in touch with the insurer via their toll-free no, 1800 102 1010 (9:00 AM to 6:00 PM, Monday to Saturday). Provide them with your policy details, and they’ll help you with the policy status. (3)

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Reliance Nippon Life Insurance- Awards and Achievement

Here are some of Reliance Nippon Life Insurance’s recent awards and achievements that have made it one of the top insurance companies in India.


Excellence in Voice of Customer-Driven Service Recovery (Life Insurance) in 4th Edition CX Excellence Awards 2024.


Best Multichannel Communication Campaign For Brand Marketing (Life Insurance) in Martech Excellence Awards 2024.


Grand Prix Award – Customer Engagement Team of the Year in ACEF Global Customer Engagement Awards


Innovative Customer Service Award in ACEF Global Customer Engagement Awards.

Reliance Nippon Life Insurance Customer Service & Support

  • Customer Care Number: You can call customer support at 1800 102 1010 (9:00 AM to 6:00 PM, Monday to Saturday). For claims-related queries, dial 1800 102 3330. (4)


  • Email: Send an email to rnlife.customerservice@relianceada.com.


  • In-Person Visit:Locate a service centre (5) for in-person assistance.


  • WhatsApp Assistance: Chat with the customer support team at (+91) 72088 52700.

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InsuranceDekho Customer Service & Support

Policyholders can connect with the InsuranceDekho support team via the below channels.


  • Call on 755 1196 989

  • Email us at support@insurancedekho.com

  • Write to us at Girnar Insurance Brokers Private Limited, Plot no.301, Phase-2, Udyog Vihar, Gurugram-122022, Haryana, India.

Reliance Nippon Life Insurance Complaints & Grievance Redressal

If your complaint has not been resolved for more than ten working days, contact the branch manager or the local grievance redressal officer (6) at your nearest branch.

If you are still not happy with the solution provided, then contact:

  • The Head of Customer Care at rnlife.headcustomerservice@relianceada.com or write to the Grievance Redressal Officer or Principal Compliance Officer at rnlife.gro@relianceada.com

You can also file a grievance in any of the following ways:

  • File a grievance from the official Reliance Nippon Life website by entering the policy number and what the grievance query is about. (7)
  • If the issue is still not resolved, contact the insurance ombudsman. Head to the official website of Reliance Nippon Life to get the Ombudsman list. (8)

InsuranceDekho Complaints & Grievance Redressal

You can contact our grievance redressal team if you are not satisfied with Reliance Nippon Life's customer support team:

  • Contact Number: 7551196989
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User Reviews

4.9
Rating based on
152 User reviews
Write your review
What users are saying
  • All
  • Digital Documentation

    My purchase of the Reliance Nippon Life insurance policy was convenient and easy. I am amazed at buying a life insurance plan through InsuranceDekho’s online mode. It was easy to compare all the policies, do all the paperwork online with any problem, and get protected with the best life insurance plan. Thank You!

    Read More

    T
    Reliance Nippon
    By Tushar Verma
    On: Feb 15, 2024
  • Easy Buying Process

    The entire process of buying the Reliance Nippon Life Insurance Plan from InsuranceDekho was a quick one. It hardly took 5 minutes to get this Reliance Life Insurance policy issued and easily make the purchase from InsuranceDekho.

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    A
    Reliance Nippon
    By Ankita Goyal
    On: Dec 20, 2023
  • A Trustworthy Partner

    InsuranceDekho is a trustworthy partner in securing my family's financial future. I'm glad I chose the Reliance Nippon Insurance Policy for my life insurance needs.

    Read More

    K
    Reliance Nippon
    By Kanika Tandon
    On: Nov 03, 2023
  • Quick and Efficient

    The entire process, from getting a quote to purchasing the Reliance Nippon Insurance Policy, was quick and efficient. I appreciate the simplicity of their website.

    Read More

    V
    Reliance Nippon
    By Vrinda Veera
    On: Oct 30, 2023
  • User-Friendly Online Platform

    Managing my Reliance Nippon Insurance Policy with InsuranceDekho is a breeze thanks to their user-friendly online platform. It allows me to access policy documents, make premium payments, and track my coverage with ease.

    Read More

    N
    Reliance Nippon
    By Navjyot Brar
    On: Oct 12, 2023
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FAQs

  • Can I change the premium payment frequency of my Reliance Life insurance policy?

    Yes, you can request for change in the premium payment frequency on your policy anniversary date by submitting a duly signed request at the Reliance Life Insurance branch office.

  • How to get a duplicate copy of my policy?

    Policyholders can apply for a copy of policy documents by making the payment for getting the duplicate policy documents. Also, they will be required to sign an indemnity.

  • What is the grace period of Reliance Nippon Life insurance policies?

    Reliance Nippon Life Insurance provides a grace period of 30 days for the premium amount due date for quarterly, half-yearly, and yearly mode of premium and 15 days for monthly mode of premium. 

  • Are medical tests necessary while purchasing a life insurance policy?

    If the age of an individual is above the minimum age limit prescribed by the insurer, then in such a case, the assured person will need to go through a medical test.

  • What are the different options available to pay the premium?

    Insurance companies give different types of premium payment options such as monthly, quarterly, semi-annually, or annually. Some life insurance plans are also available on the payment of a single premium.

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