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Knowledge Base Life Insurance Basics Reliance Life Insurance
Thursday, 27 January 2011 16:30

Reliance Life Insurance

Written by  Yashish Dahiya
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Reliance Life Insurance


Established in 2001, Reliance Life Insurance Company is a private insurance company; subsidiary of Reliance Capital Ltd. Reliance Life Insurance is based in Mumbai and only the second company among private insurers to have 9001:2000 ISO certification.

Product Portfolio:


Reliance Life Insurance has many insurance products in its offering. They are:

Retirement Plan: Better known as Pension plan, this plan takes care of financial needs after retirement by investing a part of your savings for limited period. Pension plan provides fixed income after retirement and takes care of daily needs. The pension plan offered by Reliance Life is Traditional Golden Years Plan.

Child Plan: Child Plan is a plan specifically designed to take care of financial needs of your child. Child plan provides with necessary funds that will take care of child’s education, marriage etc. By investing small portion of your savings you make sure your child’s dreams are fulfilled because of financial planning undertaken by you.

Term Plan: A term life insurance plan provides comprehensive cover for your family in the unfortunate event of untimely demise. It’s a risk plan which provides good cover at relatively nominal cost and has no survival benefits. Reliance Life term plans are Term Plan, Simple Term Plan, Special Term Plan, Credit Guardian Plan and Special Credit Guardian Plan.

Investment Plan:  Popularly known as ULIP, an investment plan invests part of your savings in equity or debt market as per your inclination. The objective of investment plan is to give you returns which easily beat the rising costs since the usual returns in a bank are extremely low. ULIP’s offered by Reliance Life are Insurance Money Multiplier Plan, Endowment Plan, Super Five Plus, Connect 2 Life Plan, Whole Life Plan and Cash Flow Plan.

Distribution Network:


Reliance Life Insurance has strong distribution with around 1145 branches and 1, 95,000 advisors.

Financial Information:


The total premium earned for the half year ended September 30, 2010 was Rs 27,862 million. The profit after tax for the same period is Rs 1,634 million. A total of 4968 claims were made during the period out of which 3635 claims were settled and 374 cases were rejected.

Marketing Campaigns:


Reliance Life Insurance has very strong brand recall because of Reliance brand image. Reliance Life has launched commercials as well as done outdoor campaigns from time to time. In 2009, Reliance Life associated itself with the blockbuster movie 3 idiots (tagline- All is well) to promote another proposition- “Jab hai saath Reliance life insurance. All is well”.

Distinctions:


 

  • 3rd largest private player in a span of just 4 years, moved from 11th position to 3rd.
  • Awarded the Jamnalal Bajaj Uchit Vyavahar Puraskar 2007- Certificate of Merit in the Financial Services category by Council for Fair Business Practices (CFBP).
  • Reliance Life has also won the DL Shah Quality Council of India Commendation Award in the services category in Feb. 2008 for its work on promoting 'self help channels for service'.
  • Fastest to reach the 5 million policy mark.

Management:


Malay Ghosh is the President and Executive Director of Reliance Life.
Sunil Agrawal is the CFO of Reliance Life.

R Rangarajan is the CIO of Reliance Life.
Pournima Gupte is the Appointed Actuary of Reliance Life.

Reach Reliance Life:


Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Telephone: 1800 300 08181 (Toll free)

Reliance Life Product Table:


 

Retirement/Pension Plan

Reliance Life Traditional Golden Years Plan

Child Plan

Reliance Child Plan

Term Plan

Reliance Term Plan

Term Plan

Reliance Simple Term Plan

Term Plan

Reliance Special Term Plan

Term Plan

Reliance Credit Guardian Plan

Term Plan

Reliance Special Credit Guardian Plan

Savings & Investment Plan

Reliance Life Insurance Money Multiplier Plan

Savings & Investment Plan

Reliance Endowment Plan

Savings & Investment Plan

Reliance Super Five Plus

Savings & Investment Plan

Reliance Connect 2 Life Plan

Savings & Investment Plan

Reliance Whole Life Plan

Savings & Investment Plan

Reliance Cash Flow Plan


Source:


Reliance Life Website

 

Compare Life Insurance Plans from All Insurance Companies

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1 Comment
  • Comment Link satish kumar Saturday, 02 April 2011 12:46 posted by satish kumar

    if i paid 14500/- (for 10 years plan) for my first premium of reliance money multiplier insurance policy . then what amount shows deposite in my insurance account.

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