Reliance Nippon Life Insurance: Benefits and types of plans

Reliance Life Insurance is an insurance firm in India that provides various insurance solutions to suit the demands of its clients. 

Reliance Nippon Life Insurance: Advantages

Reliance Nippon Life Insurance Company makes it comparatively simple to discover the policy that satisfies your requirements, given its extensive portfolio, including a selection of life insurance products. Whether it’s child care, retirement options, savings and investment strategies, or insurance policies, Reliance has made it available for its customers.

Reliance Nippon Life Insurance types

Reliance Nippon Life Savings and Investment Plans

The following is the entire list of savings and investment plans:

• Guaranteed Money Back Plan: The Guaranteed Money Back Plan from Reliance Nippon Life includes a waiver of premium and an accidental death benefit to help your family in the event of your untimely death.
• Reliance Nippon Life Fixed Savings: This plan provides you and your loved ones with a lump-sum maturity sum along with life insurance coverage. It is a systemic savings plan that assists you in creating a sizable corpus for your future requirements.
• Reliance Nippon Life Bluechip Savings Insurance Plan: The Bluechip Savings plan guarantees bonuses, a 7 per cent guaranteed addition, and life insurance coverage.
• Reliance Nippon Life Fixed Money Back Plan: It is a simple insurance plan with limited payment terms, guaranteed fixed money back, and maturity advantages. During the final five years of the scheme, fixed money returns are paid together with loyalty enhancements.
• Reliance Nippon Life Super Money Back Plan: If you are searching for regular payouts at regular intervals, the Reliance Nippon Life Super Money Back Plan is a perfect option. Because the premiums are not particularly high, it is also easy on your wallet.
• Reliance Nippon Life Endowment Plan: This adaptable insurance policy offers life insurance and the flexibility to customise your sum assured based on your financial situation.
• Reliance Nippon Life Milestone Plan: The Reliance Nippon Life Milestone Plan guarantees your savings throughout your lifetime and provides your family with financial security in the terrible event of your passing.
• Increasing Money Back Plan: This plan from Reliance Nippon Life Insurance Company ensures a payout once every three years to ensure that you can comfortably meet your rising lifestyle needs while keeping up with inflation.

Reliance Nippon Life Protection Plans

To satisfy the needs and specifications of a large customer base, Reliance Nippon Life offers a variety of protection plans. Protection plans are crucial because they offer your family a lump sum of money to ensure their financial needs are met in the event of your untimely death. Because the world is full of uncertainties, and it is important to ensure that our family members are financially secure at all stages of their lives, protection plans gain importance. The protection plans provided by Reliance Nippon Life Insurance Company are as follows:

• Reliance Nippon Life Protection Plus Plan: This individual, pure risk, non-linked, non-participating life insurance plan is offered by Reliance Nippon Life Protection Plus. It is covered by the following plans:

• Digi-Term Plan by Reliance Nippon Life: One can opt for this term plan online. At a relatively low cost, it provides significant insurance protection. Under the plan, the following options are available:

Reliance Nippon Life Retirement Plans

The greatest way to guarantee that you continue to live well after leaving your job is with a Reliance Nippon Life retirement plan. These plans call for regular contributions from you that will provide you with a regular monthly income once you retire, allowing you to maintain the same quality of life as you did while employed. Two complete retirement plans are available from Reliance Nippon Life, and they are as follows:

• Reliance Nippon Life Immediate Annuity Plan: You can convert your lump-sum savings into a regular income with the Reliance Nippon Life Immediate Annuity Plan to avoid having to make lifestyle sacrifices after you retire.
• Reliance Nippon Life Smart Pension Plan: It is a non-participating ULIP that aids in systematic saving so that, if you stop receiving a regular paycheck from your employment, you will have a better retirement fund. Benefit from tax deductions as necessary.

Reliance Nippon Life Unit Linked Insurance Plans

Investment and protection plans, or ULIPs as they are more often known, offer both life insurance coverage and profits on investments. You have a truly wide range of investment options available to you, giving you the freedom to move among and manage various funds. The following are the three distinct unit-linked insurance products that Reliance Nippon Life Insurance Company offers:

• Reliance Nippon Life Classic Plan II: This Classic plan includes a life insurance policy and a long-term investment choice that is risk-protected. You have the choice to decide how to use and manage your money. You can benefit from both life insurance and market-linked returns on your premium payments.
• The Reliance Nippon Life Insurance Company’s Smart Savings Insurance Plan: This plan ensures that your risk appetite is automatically adjusted by striking a balance between debt and equity through the systematic allocation of assets based on your stage of life.
• Reliance Nippon Life Premier Wealth Insurance Plan: The life insurance plan is structured in a way that not only helps you fulfil your short-term financial demands but also helps you stay on track with your evolving priorities as you go through life. While the policy term is still in effect, the Premier Wealth Insurance Plan gives you the opportunity to balance your protection and investing needs, assisting you in taking methodical control of your future financial situation.

Reliance Nippon Life Child Insurance Plans

Every parent has a responsibility to provide for their children’s future, but doing so can be quite challenging due to rising prices, as well as your personal demand for a better standard of living. Child plans assist you in saving money for your children’s future costs, such as higher education and marriage, at an early age so that you will have enough money to support them in realising their aspirations when the time is appropriate. Two special kid plans provided by Reliance Nippon Life Insurance Company will go a long way toward assuring your child’s future financial stability:

• Reliance Nippon Life Education Plan: A plan designed for parents that offer flexible payouts for various career and future goals, as well as death benefits that provide an annual income for ten years.
• Child Plan from Reliance Nippon Life: Safeguard your child’s future with this Reliance Life plan. Make sure you are always there in times of need, whether it is for your child’s education, higher education, your home, or your marriage.

How to claim insurance with the Reliance Nippon life insurance plan?

You should have the following documents available when you want to make an insurance claim with Reliance Nippon:

Documents needed to support a death claim

• Claim Form A: The nominee or claimant must complete this form.
• Claim Form B: Certificate of the last sickness, which must be completed, signed and stamped by the physician treating the deceased life guaranteed during their final illness
• Authentic policy documents
• Original death certificate issued by the Death and Birth Registrar Medical report attesting to the cause of death
• Copy of nominees’ photo ID card certified by a representative of the insurance company
• All hospital reports, the post-mortem report and the viscera report if any, if the patient was hospitalised during the most recent illness

In case of accidents or suicide

• Claim form C: Certificate of Identity, along with Claim forms, should be submitted “In event of Accident or Suicide” (A & B)
• If accessible, newspaper articles about the accident’s first information report and final police investigation report

The documents should be submitted at the nearest Reliance branch or must be sent by post to the following address: 

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.