Reliance Nippon Life Insurance FAQs

Reliance Nippon Life Insurance offers convenient ways to make renewal payments online and offline. The renewal process for the Reliance Nippon Life Insurance plan is hassle-free.

Reliance Life Insurance has featured a high claim settlement ratio of 98.12% in the FY 2019-20.

No, the sum assured cannot be increased or decreased after you purchase it.

Reliance Life Insurance offers an option to add additional benefit riders in your insurance plans to enhance the protection from the uncertainty of life.

The nominee/beneficiary/assignee is entitled to receive the claim benefits as mentioned by the policyholder at the time of purchasing a policy.

Reliance Life Insurance offers a 10 days easy claim settlement guarantee. Reliance Life Insurance ensures transparency in claim settlement to avoid any possibility of frauds.

No, claim payouts do not qualify for tax deductions.

Legal Heir Certificate is issued by the government stating the relationship between the deceased and the heir. When the policyholder passes away and in any case, the nominee is also deceased or not mentioned in the policy then this certificate is used to provide the legal heir with the claim benefits.

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.

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.

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.

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.

Purchasing Reliance Nippon life insurance plans online is quite a fast and comfortable process. It needs minimum paperwork which makes the purchase process economical and allows you the facility of real-time tracking. Reliance Life Insurance ensures transparency between its customers and the insurance company itself.

Reliance Life offers different insurance plans such as Term Insurance, Savings and Investment, Health Insurance, Retirement Plan, Group Insurance Plan and Unit-Linked Insurance plans.

A life insurance plan that provides financial protection and stability to the policyholder’s family in case of unforeseen events. Term insurance plans tend to provide a higher amount of cover at an economical cost of the premium.

Reliance Life offers two budget-friendly term insurance plans to cater for the requirements of an individual. Reliance Life term insurance plans offer high life cover at nominal costs.

Yes, Reliance Life Insurance offers tax benefits under section 80C, section 80D, and section 10(10D) of the taxation law subject to terms and conditions.

Age is considered to be a significant element while calculating the amount of policy premium. The higher the age will be, the higher will be the risk that increases the policy premium to offer adequate protection.

Yes, consumption of tobacco or alcohol increases the premium because people who consume tobacco or alcohol are considered people with the high risk involved.

The age, gender, sum assured, job, medical history, type and tenure of the policy, riders and so on, are some factors that determine the premium rate of the Reliance Life Insurance Plans.