Reliance Life Insurance is amongst the top 5 private sector life insurance companies in terms of individual WRP (weighted received premium) and new business WRP. The company is by far the largest non-bank supported private life insurer with over 10 million policy holders, a strong distribution network of over 800 branches and over 1,00,000 advisors as on March 31, 2015. Our claim settlement ratio stands at 93% as of June 30, 2015.
Rated amongst the Top 2 Most Trusted Private Life Insurance Service Brands by Brand Equity-Nielsen Most Trusted Brands Survey 2014, the company’s vision is “To be a company people are proud of, trust in and grow with; providing financial independence to every life we touch.” With this in mind, Reliance Life caters to five distinct segments, namely Protection, Child, Retirement, Saving & Investment and Health; for individuals as well as Groups/Corporate entities.
Reliance Life Insurance is a part of Reliance Capital of the Reliance Group. Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top private sector financial services and non-banking companies in India.
On October 7, 2011, Nippon Life Insurance Company acquired 26% interest in the equity share capital of the Company. Nippon Life Insurance, also called Nissay, is Japan’s largest private life insurer with revenues of Rs. 4,06,502 crore (US$ 66 Billion) and profits of over Rs. 31,145 crore (US$ 5 billion) as of Mar 31, 2015. The Company has over 21 million policies in Japan and offers a wide range of products, including individual and group life and annuity policies. The company primarily operates in Japan, North America, Europe and Asia and is headquartered in Osaka, Japan. It was ranked 86th in Global Fortune 500 firms in 2013.
- Importance of timely renewal of policy
A life insurance policy allows you to provide the right security to your family in case of uncertainties. As the sole bread earner of the family, your untimely demise can cause them severe financial distress. While no amount of money can replace you, life insurance gives you peace of mind that your family will have the right financial support, even in your absence.
Life insurance is a long-term financial instrument that acts as a financial backbone to fulfill your family’s financial needs at important milestones. More importantly, it allows your family to pay off any liabilities, medical expenses or loans, so that these don’t become an additional burden. Therefore, you should choose an insurance policy that will not compromise on your family’s lifestyle and help them live and cherish wonderful memories along the years.
Additionally, timely renewal
- Keeps your policy active and your life cover intact
- Boosts your savings and is a good investment instrument
- Gets you regular money back payouts, depending on your policy
- Entitles you to tax exemptions
Pay your premiums on time by availing the ECS/Standing Instruction facility. It’ll save you the hassle of issuing cheques every month or going to a branch or setting an appointment for cheque pick-up. You just need to authorise your bank to deduct the amount directly from your bank account ensuring timely premium payment. We also have an online facility that lets you do so much from the comfort of your home. Just log on to https://customer.reliancelife.com, and pay your premium online, download e-statements, switch funds or avail other online services.