How Does Group Term Life Insurance Work?
From premiums to claims understand the how a group term life insurance work.
By Pazcare
April 30, 2023
Reliance Nippon Life Insurance
Key Insights
 |
Claim settlement ratio (2019-20) | |
Inception | |
| 98.7% | 2001 | |||
|
Presence | |
Total death benefit paid | |
| 713 branches | Rs 157.03 Cr | |||
|
Solvency ratio | |||
| 2.6 |
|
Claim settlement ratio (2019-20) |
| 98.7% | |
|
Inception |
| 2001 | |
|
Presence |
| 713 branches | |
|
Total death benefit paid |
| Rs 157.03 Cr | |
|
Solvency ratio |
| 2.6 |
About Reliance Nippon Life Insurance Company
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 insurance plan. You can get the best quotes for the Reliance Nippon life group term insurance 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.
How to buy Reliance Nippon group term insurance plan from Pazcare?
The following steps allow you to purchase the Reliance Nippon group term insurance plan online from Pazcare.
- Visit Pazcare
Visit Pazcare, and choose group term insurance. If you are new to buying a group term policy, we recommend you review our offerings before purchasing the Reliance Nippon group term life insurance policy.
- Consult with our insurance experts
After submitting the form, our insurance experts will call you within 24 hours. Share your requirements to personalize your Reliance Nippon group term insurance policy offering with Pazcare.
- Product demo & sharing active employee data
We provide you with a product demo of how to administer the Reliance Nippon group term life insurance plan using the Pazcare dashboard. Once approved, share with us your active employee data to proceed with the process of buying the Reliance Nippon group term life insurance for employees.
- Getting quotes & onboarding
We get you competitive quotes from Reliance Nippon Life Insurer and other 4+ life insurers. Choose the best offering, say Reliance Nippon group term insurance policy and the onboarding process begins in 24 hours. You are covered with the best employee benefits from Pazcare.
Reliance Nippon Life group term insurance renewal from Pazcare
The Reliance Nippon life group term life insurance plan can be renewed easily with Pazcare at the end of the policy term. Here is how you can go about it -
- Visit Pazcare
Visit Pazcare, and choose group term insurance. If you are new to renewing your Reliance Nippon group term insurance policy, we recommend you review our offerings before purchasing the Reliance Nippon group term life policy.
- Consult with our insurance experts
After submitting the form, our insurance experts will call you within 24 hours regarding the Reliance Nippon group term insurance policy renewal. Please submit active employee data, policy copy, claim dump report & claim analysis report to proceed.
- Product demo & personalisation
We provide you with the product demo if you are new to buying/renewing the Reliance Nippon group term insurance plan with Pazcare. The above-submitted documents allow us to personalise your Reliance Nippon group term policy according to the previous offerings.
- Getting quotes & onboarding
We get you competitive quotes from Reliance Nippon Life Insurance and other 4+ insurers. Choose the best Reliance Nippon group term life insurance policy renewal offering and the onboarding process begins in 24 hours. You are covered with the best employee benefits from Pazcare.
Reliance Nippon group term life insurance claim settlement ratio
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.
Reliance Nippon Life group term life insurance premium
Reliance Nippon Life group term insurance benefits from Pazcare
High claim settlement ratio
A high claim settlement ratio means that your employees’ claims are more likely to get settled successfully. Reliance Nippon group term 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 group term 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 -
- Reliance Nippon Life group accidental death benefit rider - In case death occurs because of an accident.
- Reliance Nippon Life group accidental total and permanent disablement rider - a lump sum or income for 5 years will be provided in case of an accidental disablement.
Reliance Nippon Life group life insurance claim
Documents required to claim Reliance Nippon life group term insurance
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?
- Choose the suitable policy with our consulting approach
- Custom-made plan with health and mental wellness add-ons
- The tech-enabled Pazcare dashboard to manage endorsements
- Integrate the dashboard with your HRMS tool
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Reliance Nippon Life Insurance customer care number
Reliance Nippon group term life insurance customer care is available 24X7 for any group term insurance assistance.
For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
Reliance Nippon Life group term insurance FAQs
What is the customer care number of Reliance Nippon life insurance company?
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The customer care number for Reliance Nippon life insurance company is 1800-102-1010.
What is the claim settlement ratio of Reliance Nippon life insurance company?
The claim settlement ratio of Reliance Nippon life insurance company is 98.12% for the financial year 2019-20.
What is the registered office address for Reliance Nippon life insurance company?
Reliance Nippon life insurance company’s registered office is at - H Block, 1st floor, Dhirubhai Ambani Knowledge City, Navi Mumbai, Maharashtra - 400 710.
What is the grace period of Reliance Nippon Life insurance policies?
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.
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