Top benefits of group life insurance
Group term life insurance could be your next purchase. Get to know the benefits of owning one
By Pazcare
June 16, 2022
Key Insights
Nippon life insurance was first founded in 1889 as Nippon Life Assurance Co. Inc. It changed its name to Nippon Life Insurance Company in 1947 after World War II. Reliance Nippon Life insurance company is a part of Reliance Capital, which has various interests such as life & general insurance, stock broking, and other activities in the financial services sector.
The company boasts of a strong distribution network comprising about 713 branches with over 10 million policyholders. With the vision to ‘Do Good’, Reliance Nippon life insurance company offers its various services to the customers and promises to stand by them in their times of need.
Through Pazcare, employers can secure their employees’ financial interests by opting to provide Reliance Nippon life group term assurance plus plan. You can get the best quotes for the Reliance Nippon life group term assurance plus plan and manage the policy using Pazcare’s tech-enabled dashboard. With the easy integration of HRMS, the dashboard becomes an easy-to-use tool to keep track of plans and endorse future employees too.
The following steps allow you to purchase the Reliance Nippon group term assurance plus plan online from Pazcare.
Step 1: Visit https://www.pazcare.com/ and click on the products drop down and choose group term life insurance.
Step 2: You will be asked to fill out a form on the right side of your desktop screen. Your name, mobile number, work email and employee strength need to be mentioned. Click on the ‘Get Quote’ button below the same.
Step 3: Once the said form is submitted, one of our insurance consultants will get back to you to understand your requirements in detail. Some other employee data like - the employee ID, the CTC, the designation, etc. will also be asked to provide you with quotes.
Step 4: Once the aforementioned steps are completed, we will get back to you with the best quotes for the Reliance Nippon group term assurance plus plan.
Step 5: You can accept the terms and conditions of the policy and pay the premium quoted for that particular year. The policy gets activated immediately after the purchase.
Step 6: Our team will help you with the whole process and also take you through the Pazcare dashboard where you can manage the Reliance Nippon life group term assurance plus plan.
For further information, write to us at support@getpaz.com or call our customer care at +91 78291 11300. Alternatively, connect with us on Whatsapp using the number +91 81973 79596.
The Reliance Nippon life group term assurance plus plan offers financial assistance to your team in unforeseen events. The loss of a person cannot be compensated but with Reliance Nippon life group term assurance plus plan, the family members can be taken care of in these uncertain times. Through this plan, the family members of the insured employee can sustain themselves.
The Reliance Nippon life group term assurance plus plan also gives the option to increase the base sum assured, subject to the Board approved underwriting policy of the Company, either at inception or on renewal of the Master policy on the Annual Renewal Date. The Reliance Nippon life group term assurance plus plan also gives the option to choose the payment method from the following options - yearly, half-yearly, quarterly or monthly.
The Reliance Nippon life group term assurance plus plan can be renewed easily with Pazcare at the end of the policy term. Here is how you can go about it -
Step 1: Get in touch with Pazcare. Submit the form containing details like your name, name of the company, number of employees you wish to insure, work email address, and phone number.
Step 2: Once the form is submitted, one of our insurance consultants will get in touch with you and request you to submit the following documents.
Step 3: After submitting the above-mentioned details you can choose to add any additional riders to the policy if required. These riders are Reliance Nippon life group accidental death benefit rider and Reliance Nippon life group accidental total and permanent disablement rider. Once you make your decision, we will get back to you with the best quotes for your Reliance Nippon life group term assurance plus policy.
Step 4: The next step is to agree to the terms and conditions of the policy and pay the premium for your Reliance Nippon life group term assurance plus plan.
Step 5: The policy will get activated immediately after the payment of the premium. Our team will guide you through the whole process and help you with the onboarding process as well.
We will make sure that your purchase of Reliance Nippon life group term assurance plus plan experience will be seamless using our Pazcare dashboard. Your employees can access their policy using Pazcare’s employee app which is available for iOS and Android both.
The claim settlement ratio is simply the number of claims settled to the number of claims received. A higher number indicates that more claims were settled in a financial year. The claim settlement ratio for Reliance Nippon life insurance company has a claim settlement ratio of 98.12% for the financial year 2019-20.
Tax benefits
The amount that goes towards an insurance plan for the employees can be used to avail tax benefits in a year.
High claim settlement ratio
A high claim settlement ratio means that your employees’ claims are more likely to get settled successfully. Reliance Nippon life insurance company has a claim settlement ratio of 98.12% for the financial year 2019-20.
713 offices
A large number of office branches makes it easier to locate one near most locations for easy filing of claims offline and paying the premiums offline. Reliance Nippon life insurance company has 713 offices in total.
Additional riders
To enhance the total coverage, Reliance Nippon life group term assurance plus plan offers two additional riders, which are -
Here are the documents that you require to claim the Reliance Nippon life group term insurance policy
Why buy a group term life insurance
policy online from Pazcare?
For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
The customer care number for Reliance Nippon life insurance company is 1800-102-1010.
The claim settlement ratio of Reliance Nippon life insurance company is 98.12% for the financial year 2019-20.
Reliance Nippon life insurance company’s registered office is at - H Block, 1st floor, Dhirubhai Ambani Knowledge City, Navi Mumbai, Maharashtra - 400 710.
You can now easily renew your Reliance Nippon life insurance policy with Pazcare. Reach out to our insurance consultants. Make sure you submit all the required documents and decide on the riders you need. Team will get back with the best quote shortly. After you agree with terms & conditions, just pay the premium and your policy shall get activated.
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.
For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
rnlife.customerservice@relianceada.com
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