Reliance Nippon Life Insurance Company can be termed as one of the foremost life insurance firms in the nation as far as new business WRP, and individual weighted received premiums (WRP) are concerned. The firm is among the biggest private insurances (not supported by a bank) with more than 10 million customers, a well-built network of more than 800 branches in addition to more than 100000 financial advisors by March 2016. The firm has a very high claims settlement ratio of over 95%.
Reliance Life Insurance is amongst the most trusted insurance firms in the country. The vision of the firm is ‘To become a company that people feel proud of’ Reliance Nippon Life Insurance offers different insurance products in various sectors such as Child, Protection, Retirement, Investment & Savings and Health products for individuals and groups.
Reliance Life Insurance is an important part of the Reliance Capital, which is among India's foremost private financial companies. After receiving regulatory approval, the stake holdings of Nippon Life raised to 49% from 26%. Nippon Life Insurance, which is also known as Nissay, is a market leader in Japan. The firm has sold over 25 million plans in Japan. The headquarter is in Osaka in Japan.
Reliance Nippon Life Insurance’s operation started in India in 2005, and Nippon Life bought 26% shares in 2011. There are more than 800 dedicated branches of the firm. The team of financial experts is 100000 strong.
The firm has been bestowed upon with below accolades-
The Claim Settlement Ratio (CSR) is 95.01%.
The various products presented by Reliance Nippon Life Insurance are as follows-
The firm’s employee power is quite strong at 100000.
There are certain features that set Reliance Nippon a class apart-
Products one can avail from Reliance Nippon are specified below:
Reliance Nippon Protection Products
Reliance Nippon Savings and Investment Plans
Reliance Nippon Child Insurance Plans
Reliance Nippon Retirement Plans
Reliance Nippon Group Insurance Plans
Reliance Nippon Health Plans
The premier products offered by Reliance Nippon Life Insurance are given here:
Minimum Age for Policy purchase(years completed) | 18 |
Maximum Age for policy purchase (years completed) | 55 |
Maturity Age (years completed) | (min) 28 (max) 75 |
Policy Term (in years) | Min- 10 Max- 35 |
Term for Premium payment | Annually |
Sum Assured (INR) | Max- no ceiling Min- 25 lacs |
Minimum Age for Policy purchase(years completed) | 18 |
Maximum Age for policy purchase (years completed) | 60 |
Maturity Age (years completed) | (min) 28 (max) 70 |
Policy Term (in years) | Min- 10 Max- 30 |
Term for Premium payment | Annually |
Sum Assured (INR) | Min- 35 lacs |
Minimum Age for Policy purchase(years completed) | 18 |
Maximum Age for policy purchase (years completed) | 60 |
Maturity Age (years completed) | (min) 28 (max) 70 |
Policy Term (in years) | Min- 10 Max- 30 |
Term for Premium payment | Annually |
Sum Assured (INR) | Min- 35 lacs |
Minimum Age for Policy purchase(years completed) | 18 |
Maximum Age for policy purchase (years completed) | 55 |
Maturity Age (years completed) | 28 (min) 75(max) |
Policy Term (in years) | Min- 10 Max- 35 |
Term for Premium payment | Annually |
Sum Assured (INR) | Min- 35 lacs |
Minimum Age for Policy purchase(years completed) | 21 |
Maximum Age for policy purchase (years completed) | 60 |
Maturity Age (years completed) | 26 (min) 65(max) |
Policy Term (in years) | Min- 5 Max- 30 |
Term for Premium payment | Quarterly, monthly, annually or bi-annually |
Sum Assured (INR) | Min- 5 lacs |