Reliance Nippon Life Insurance

Reliance In terms of individual WRP (weighted received premium) and new business WRP, Nippon Life Insurance Company is one of India’s leading private sector life insurance firms. As of March 31, 2020, the firm has over 10 million policyholders*, a robust distribution network of 717 locations, and 63,016 advisers, making it one of the largest non-bank-sponsored private life insurers. As of March 31, 2020, the company’s claim settlement ratio was 98.1 percent.

Brand Equity’s Most Trusted Brands Survey 2018 ranked the company among the Top 3 Most Trusted Person Insurance Service Brands. The company’s vision is to “be a company people are proud of, believe in, and grow with; giving financial freedom to every life we touch.”

Reliance Nippon Life caters to five main segments, namely Protection, Child, Retirement, Savings & Investment, and Health, for both individuals and groups/corporations.

Reliance Nippon Life Insurance Company is a subsidiary of Reliance Capital, a non-banking financial services firm. Stock broking, life and general insurance, proprietary investments, private equity, and other financial services businesses are among Reliance Capital’s interests. Many policies may have matured, lapsed, canceled, or been surrendered after their beginning.

Company Objectives

To be a company that people are proud of, trust in, and want to grow with, delivering financial freedom to everyone we come into contact with.

Planning people’s futures and being there for them in their hour of need are two different things.

What is the purpose of life insurance?

Life insurance is a long-term financial tool that helps you meet your family’s financial demands at critical junctures, even if you are not present. It also allows the family to pay off any outstanding debts, such as a mortgage, liabilities, medical costs, or loans, so that they are not burdened further.

What level of protection are you looking for?

When calculating the amount of life insurance you need, consider not only your previous loans and debts, but also the funds your family will need for childcare, private school tuition, college tuition, weddings, and other financial aspirations that have been adjusted for inflation. Aim for a policy that covers 10 to 15 times your annual salary.

Reliance Nippon Life Insurance has the following advantages

Reliance Nippon Life Insurance Company makes it reasonably easy to select the policy that completely suits your requirements with a wide portfolio that encompasses a choice of life insurance products that cater to the financial needs of a diverse customer base. Reliance Nippon Life Insurance Company was placed among the Holding Periods Most Trusted Life Insurance Service Brands in Brand Equity’s Most Trusted Brand Survey 2015. Reliance Nippon offers a wide range of plans and policies to individuals and groups, including child plans, retiring solutions, wealth creation plans, and protection insurance.

Life Savings and Investment Plans from Reliance Nippon

Nippon Reliance In addition to providing whole life insurance, life savings and investment plans offer returns on the money you put in. If you have long-term goals in mind, such as taking your household on a long exotic journey or purchasing that dream home you’ve been eyeing for a while, capital investment plans are specifically designed to help you achieve them.

The following is a thorough list of the savings and investment plans available from:

Reliance Nippon Life Guaranteed Money Back Plan: This plan includes an accidental death benefit as well as a premium waiver to help your family in the event of your untimely death.

Group Insurance Plans from Reliance Nippon Life:

Reliance Nippon Life Group policies are designed to ensure that an employer’s relationship with his or her employees is always positive. These plans not only provide employees with life insurance, but also provide them with periodic payouts once they retire through pension and gratuity schemes. Reliance Nippon Life Insurance Company offers the following group insurance plans:

The Reliance Nippon Life Group Unit Linked Workers’ Compensation Plan is a unit-linked, fund-based group plan that also includes insurance for the policyholder.

The Reliance Nippon Life Group Term Assurance Plus is a term insurance policy offered by the Reliance Nippon Life Group.

How to Make a Reliance Nippon Insurance Claim

Among all private life insurers in India, Reliance Nippon Life Insurance Company has the highest claim resolution ratio. The company promises to resolve your claims in 12 days or less, and they commit to pay 6.5 percent interest each year if they are late. You must have the following documentation on hand in order to file a claim with Reliance Nippon:

Documents needed to file a death claim:

  • Claim form A: The nominee or claimant must complete this form.
  • Claim form B – Certificate of last sickness must be filled out, signed, and stamped by the attending physician during the deceased’s last illness.
  • Authentic policy documents
  • Death and Birth Registrar’s original death certificate
  • Insurance company official attests nominees’ photo identity card copy
  • if you were hospitalized during your last illness, all hospital reports Post Mortem Report and Viscera Report, if conducted
  • In the event of a car accident or suicide”
  • Claim form C – Certificate of Identity, as well as Claim forms A, B, and C (A & B)
  • Newspaper cuttings on the accident, if available First Information Report and final Major Investigation Report

Once you’ve gathered all of the necessary documents, you can drop them off at a Reliance branch near you or mail them to The Claims Department, Reliance Life Insurance Co Ltd, 9th Floor – Building No. 2, R-Tech Park, Nirlon Compound, Next to Hub Mall, Behind I- Flex building, Goregaon, (East), Mumbai-400 063.

Documents Required to Purchase a Reliance Nippon Life Insurance Policy:

Following are the documents you require to purchase a life insurance policy from Reliance Nippon:

  1. Address proof

  2. Identity proof

  3. Income proof

  4. PAN Card

  5. Self-attested bank passbook copy

How to Check Reliance Nippon Life Insurance Policy Status Online:

To check the status of your Reliance Nippon Life Insurance policy, all you have to do is visit the official website of the company and click on the ‘Login’ option at the top right side of the homepage. Three options, viz. Customer, Corporate, and Partner will appear above the Login option. Choose the Customer option and you will be redirected to the Login Portal where you will have to enter your Client ID or Policy Number along with the password and hit ‘Sign In’ after which your policy details will appear on screen

If you’re a first-time user who hasn’t yet registered with Reliance Nippon, go to the company’s website and select the Login option, then the Customer option. After that, you’ll be taken to a screen where you can choose to Register Now. Select I Agree and then hit Submit after entering the relevant data, such as Client ID / Policy Number, place of birth, etc. At this point, your registration will be complete, and you can update the contents of your Reliance Nippon Life Insurance plan by logging in with your policy information.

Premium Calculator for Reliance Nippon Life Insurance

To calculate the premium for any Reliance Nippon Life Insurance policy, go to the company’s website and look for the premium calculator. Enter the required information, such as monthly salary, monthly daily expenses, monthly operating earnings for family expenses, assets on hand, liabilities on hand, and age bracket, as well as your perceptions from the policy, and your premium will be calculated and displayed on screen in a matter of minutes.

Customer Service at Reliance Nippon Life

Reliance Life Insurance is a leading insurer in India, offering a wide range of appealing life insurance plans. Because of the high volume of consumers, the insurer has established a specialized customer service department to assist customers with any questions, concerns, or objections they may have about their insurance. Customers can contact Reliance Nippon’s support personnel through a variety of channels that the insurer has established. Customers can contact the customer service department by calling the toll-free number available 24 hours a day, registering their information on the website to receive a call back, or writing to the email account provided.

FAQs

Q1. What is the procedure for borrowing against a Reliance Life Insurance policy?

Ans – Credit can be taken out because of the policy once the lock-in period has ended.

Q2. How do I file an Accidental Death Benefit/Total and Permanent Disability claim?

Ans – The quantity of funds you are entitled to is decided by the length of your policy, its status, and the reason of death of the policyholder. Lost wages charges for the policy year in which the life promised died will be deducted, and the declared bonus will be included to the sum assured in the event of participating plans.A. To begin the adjudication of this claim, you first should submit the following:

Original Policy Documents. Claim Form A. Claim Form B

Biopsy reports, diagnosis certificates, lab results, and other hospital records

The police station’s FIR as well as the related investigation report

If at all feasible, a news item on the events that caused to the claim.Life insurance from Reliance Nippon Questions Frequently Asked:

Q3. What is the procedure for borrowing against a Reliance Life Insurance policy?

Ans –A credit can be taken out because of the policy once the lock-in period has ended.

Q4. How do I file an Accidental Death Benefit/Total and Permanent Disability claim?

Ans –A. To begin the adjudication of this claim, you first should submit the following:

Q5. Original Policy Documents. Claim Form A.

 Ans – Claim Form B.

Biopsy reports, diagnosis certificates, lab results, and other hospital records

The police station’s FIR as well as the related investigation report

If at all feasible, a news item on the events that caused the claim.

Q6. What is the procedure for withdrawing a portion of my ULIP policy?

Ans – After the lock-in period has ended, partial withdrawals are possible. You must submit a completed and signed request form, as well as information on your savings bank account (with a canceled check from the same account) and a self-attested copy of your KYC documents.

Q7. How can I resign a Reliance Life Insurance policy?

Ans – Once the lock-in period has ended, you can surrender your policy by submitting a completed and signed Surrender Request Form, information about your regular savings account (including a canceled check from the same account), and a personal copy of your KYC documents.

Q8. How can I file a claim for a Reliance Life insurance policy’s death benefit?

Ans – To begin the process of filing a death benefit claim, you must first submit the following documents:

Form A – to be completed by the nominee.
The attending doctor must sign and mark Claim Form B.
Authentic policy documents

Medical records

The Registrar of Births and Deaths has provided an original copy of the death certificate.

The doctor will issue a death certificate that certifies the manner of death.

The nominee’s photo ID (attested by a Reliance official).

If conducted, a post-mortem and viscera report will be provided.

Identity certificate claim form C

The police station’s FIR as well as the related investigation report how can I file a claim for a Reliance Life insurance policy’s death benefit?

To begin the process of filing a death benefit claim, you must first submit the following documents:

Form A – to be completed by the nominee.

The attending doctor must sign and mark Claim Form B.

Authentic policy documents

Medical records

The Registrar of Births and Deaths has provided an original copy of the death certificate.

The doctor will issue a death certificate that certifies the manner of death.

The nominee’s photo ID (attested by a Reliance official).

If conducted, a post-mortem and viscera report will be provided.

Identity certificate claim form C

The police station’s FIR as well as the related investigation report

How do I file a claim for critical illness?

The following documentation must be submitted in order to lodge a critical illness claim:

Claim Form A for Critical Illness. Claim Form B for Certificate of Illness. The attending physician must sign and mark this document.

Authentic policy documents

Medical records

What is the procedure for filing a claim for Survival and Maturity Benefits?

Survival Benefits are immediately credited to the policyholder’s savings bank account as they become due, so there is no need to file a claim.

For in-force and paid-up policies, Maturity Benefits are also given to the policyholder at policy maturity.

When I file an insurance claim, how much money will I get?

The quantity of funds you are entitled to is decided by the length of your policy, its status, and the reason of death of the policyholder. Lost wages charges for the policy year in which the life promised died will be deducted, and the declared bonus will be included to the sum assured in the event of participating plans.