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Reliance Life Child Plans
Reliance child insurance plan helps you save systematically so that you can give your child the much-needed financial security in the future and gives you the freedom to enjoy every moment with your child today, without worrying about his/her tomorrow. Reliance Life offers 1 child insurance plan to help you protect your child’s future.
- Reliance Child Plan: A non linked child insurance plan that gives you guaranteed fixed benefits and 25% of Sum Assured payable every year as lump sum Benefit during the last four policy anniversaries to help you to secure your child’s future.
- Reliance Education Plan: Reliance child education policy helps you save for the future of your child by giving you an option of choosing out the payouts depending on the needs.The policy offers three different premium paying terms- 5,7 & 10. The minimum sum assured is Rs 50,000, while there is no limit on the maximum sum assured. Further, the plan assures to give guaranteed addition of 2% of the basic sum assured at the end of each policy year till the end of the policy term, provided the policy is active.
You can compare Reliance life insurance child plan from other child insurance plans offered by other insurance companies online and explore the child insurance plan that suits your child’s school education needs and college needs the most.
Reliance Life Child Plans - FAQ
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Q1. How to pay premium? What are the modes of payment available?
Ans: RELIANCE LIFE Insurance offers basic 4 modes of premium payment. They are as follows:- Online- Requires you to login through your client Id and password, select the online medium to pay the premium.
- IVR method- Call on the toll free number 1800 3000 8181 and follow the instructions. Keep handy details of policy number and date of birth.
- Pay at Suvidha Center- This helps to locate the nearest branch office wherein payment can be done via cheque,
- Bill Junction or Bill Desk option- This requires registering oneself in the site and clicking on the Pay Reliance Life Insurance option to authorize the payment.
For online payment mode, the policyholder can pay via;
- Credit Card
- Debit Card
- Netbanking facility
One can also avail Electronic Clearance System ECS) for paying premium of renewed policies.
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Q2. How can I check policy status for Reliance Life Child Plans?
Ans: For checking the policy you must register first on e-portal. After generating the password, login to your account. Then click on the ‘Policy Details’ tab to get the status of the desired policy number. -
Q3. What is the policy renewal process for Reliance Life Child Plans?
Renewal of policy can be done by two modes:Ans:- Online
- Electronic Clearance System(ECS)
For Online renewal process, login to your account and click on the required renewal tab after selecting the payment mode. Payment can be done via cheque or through net banking.
For renewing the policies using Credit Card Mode, fill in the required mandatory form along with photocopy of Credit card. Within a period of 10 days, the credit card information will be registered for renewal process.
ECS facility can be availed by filling in the desired form and submitting the required documents. The bank will process the information within 30 days of receipt of the same. In case the premium renewal date falls on a holiday, the amount will be debited on the next working day.
Q4. What is the company’s process to settle claim for Reliance Life Child Plans?
Ans: The company guarantees 12-day claims settlement policy. You must attach the correct documents with the claims form and send it to the nearest branch office in your city. To find the relevant documents for the particular claim, please visit the Claims Overview Section.After receiving the particular documents and completion of the verification process, the cheque will be dispatched to the nearest branch within 3 working days. From there one can collect the cheque after verifying the identity proof.
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Q5. What is the policy cancellation process for Reliance Life Child Plans?
Ans: The policy cancellation process requires the customer to submit a duly filled surrender form along with relevant documents in any branch. Upon receiving and verification of the documents, the policy is deemed cancelled as per bank accounts record.
Written By: PolicyBazaar - Updated: 05 January 2021
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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