Compare Reliance Nippon Life Insurance Plans

Reliance Nippon Life Insurance Company

Reliance Nippon Life Insurance Company

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.

Company performance

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-

  • Best CSR Initiative Award in Excellence in Radio Awards in 2014
  • Best Non-Urban Coverage Award in Insurance Sector at Indian Insurance Awards from 2011 through 2013.
  • Best Social Media and Digital Marketing Excellence in CMO Asia awards in 2014.
  • Rated among the nation’s best 200 brands by the Economic Times.

The Claim Settlement Ratio (CSR) is 95.01%.
The various products presented by Reliance Nippon Life Insurance are as follows-

  • ULIP
  • Protect Plan
  • Online Insurance
  • Child Plan
  • Savings Plan
  • Retirement Plan
  • Health Plan
  • Group Plan

The firm’s employee power is quite strong at 100000.

Key Advantages and Features

There are certain features that set Reliance Nippon a class apart-

  • Global presence- Reliance Nippon has a strong global presence. It has provided insurance solutions to over 100 million people around the world and 3.6 million people in India. It caters to consumer needs in 50 nations across the world.
  • Laurels- Reliance Nippon has won many awards
  • CSR or Corporate Social Responsibility- The firm has undertaken several CSR programmes in addition to projects for insurance awareness and employee volunteering.
  • Wide Network- the company has extensive reach in the country
  • A wide range of policies- Reliance Nippon offers a variety of plans in various sectors such as health, child plans, etc.

Types of Products offered

Products one can avail from Reliance Nippon are specified below:
Reliance Nippon Protection Products

  1. Life Term Plan- provides tailor-made, all-inclusive and very affordable coverage that secures you and your family’s financial future.
  2. Life Online Term Plan- this is a term insurance product for the modern generation. It offers you with larger cover at highly affordable costs, along with the convenience of buying it online with a few clicks.
  3. Life Online Income Protect Plan- a comprehensive plan that provides lump sum if an eventuality occurs and also gives your family a monthly income which ensures that your family’s living standards stay the same.

Reliance Nippon Savings and Investment Plans

  • Life Plan for Fixed Savings
  • Life Plan for Lifelong Savings
  • Life Plan for Guaranteed Money Back
  • Life Plan for Increasing Income Insurance
  • Life Plan for BlueChip Savings Insurance

Reliance Nippon Child Insurance Plans

  • Life Child Plan
  • Life Education Plan

Reliance Nippon Retirement Plans

  • Life Immediate Annuity Plan
  • Life Pension Builder
  • Life Smart Pension Plan

Reliance Nippon Group Insurance Plans

  • Employers Liability Solutions
  • Employee Protection Solutions
  • Group Saving Solutions

Reliance Nippon Health Plans

  • Life Easy Care Fixed Benefit Plan

Product Plans Details

The premier products offered by Reliance Nippon Life Insurance are given here:

Reliance Online Term Plan

Overview of the Online Term Plan by Reliance
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

Benefits

  • Policy brings Tax exemption benefits
  • Look up duration of 15 days during which you can cancel the policy
  • Death benefits are available
  • Surrounded Benefits are not available

Eligibility

  • Entry age of prospective policyholder to buy cover ranges from 18 years to a ceiling age of 55 years.

Reliance E-Term Plan

Overview of Reliance E-Term Plan
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

Benefits

  • Policy brings Tax exemption benefits

Eligibility

  • Entry age of prospective policyholder to buy cover ranges from 18 years to a ceiling age of 60 years.

Reliance E-Term Plan

Overview of Reliance E-Term Plan
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

Benefits

  • Policy brings Tax exemption benefits

Eligibility

  • Entry age of prospective policyholder to buy cover ranges from 18 years to a ceiling age of 60 years.
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Reliance Online Income Protect Plan

Reliance Online Income Protect Plan Overview
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

Benefits

  • Policy brings Tax exemption benefits

Eligibility

  • Entry age of prospective policyholder to buy cover ranges from 18 years to a ceiling age of 60 years.

Reliance Term Plan

Overview of Reliance Term Plan
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
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