Reliance Life ULIP Plans

Reliance ULIP plans are unit linked insurance plans helps you plan your finances wisely and cover the risk arising due to loss of life and assumes all the flexibilities required in a financial products. There are 3 Reliance ULIP plans that are available to you for investing your money

Regular Premium

• Reliance Life Insurance Classic Plan: A ulip policy that gives you the flexibility and opportunity to invest wisely with options like Systematic Transfer Plan & Premium Redirection.

• Reliance Life Insurance Classic Plan – Limited Premium: A limited premium unit linked insurance plan that gives you the opportunity of 8 investment funds.

• Reliance Life Insurance Classic Plan - II: A ulip plan that gives you the dual benefit of market linked return and insurance protection and liquidity in the form of partial withdrawals after completion of five policy anniversaries.

Comparison of Reliance ULIP plans will help you to understand ULIP plans provided by Reliance Life Insurance. Also, compare all Reliance ulip plans and ulip plans provided by other life insurance companies in India online and buy the best ULIP plans that suits you. 

Reliance Life ULIP Plans - FAQ

1. How to pay premium? What are the modes of payment available?

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.
• Pay at Suvidha Center- This helps to locate the nearest branch office wherein payment can be done via cheque or cash.
• 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.

2. How can I check policy status for Reliance Life ULIP plans?

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.

3. What is the policy renewal process for Reliance Life ULIP plans?

Renewal of policy can be done by two modes:

• 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 cash, 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.

4. What is the company’s process to settle claim for Reliance Life ULIP plans?

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.

5. What is the policy cancellation process for Reliance Life ULIP plans?

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.