How to Use Reliance Nippon Life Insurance Calculator?
Here is the list of steps you need to follow to use the Reliance Nippon Life Insurance Calculator online:
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Step 1: Visit the life insurance calculator page of Policybazaar
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Step 2: Select the right age, gender, smoking habits, and choose the suitable sum assured, and policy term
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Step 3: The approximate premiums applicable to your profile will be displayed on the screen
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Step 4: You can click on the ‘Check your Premium’ option to check the available plans available for you
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Step 5: Choose the most suitable life insurance plan and proceed to pay
What are the Benefits of Using the Reliance Nippon Life Insurance Calculator?
Here is a list of benefits of using the Reliance Nippon Life Insurance Calculator:
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Easy Comparison: Using these digital calculators gives the customers an opportunity to compare life insurance plans and choose the best one for themselves.
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Time-efficient: They are fast and easily accessible, and one can do it from the comfort of his/her house.
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Accurate Estimations: They provide accurate data, and the actual premium values may vary only slightly from what is displayed on the website.
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Convenient to Use: They are easy to use, and all the steps are well explained on the company website.
Why Should You Use the Reliance Nippon Life Insurance Calculator?
Using the Reliance Nippon Life Insurance Calculator is a good way for the customer to save time. Since these life and term insurance calculator are capable of making accurate estimates and calculations based on a number of factors can be used to compare the available plans easily. Based on the information provided to it, this online calculator is able to provide answers to your queries within seconds which would otherwise would be a tedious task to accomplish manually.
Using the Reliance Nippon Life Insurance Calculator also gives the opportunity to make comparisons between different plans and get the premium estimations. One can compare the returns and the benefits of each plan and choose from a wider range of options.
What are the Information Required to Use the Reliance Nippon Life Insurance Calculator?
The following information is required while using Reliance Nippon Life Insurance Calculator:
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Personal Information: The calculator needs the personal information of the customer, e.g., date of birth, gender, etc.
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Health Information: Certain inquiries regarding the health of the customer are required by the calculator, such as smoking habits, lifestyle, etc.
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Sum Assured: This is required in order to calculate the premium amount.
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Term of the Policy: The customer must determine for how long he/she wants to invest in the policy and make this information available to the calculator.
Why Should You Buy Reliance Life Insurance Plan?
Reliance Nippon Life Insurance Plan provides life coverage at a nominal cost for customers. This plan is good for those who want to create a corpus that their family can inherit in the event of their demise. This protects the family and provides them with financial independence.
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Secure Investment: The policy provides financial security to the customer and his family, which they can decide when and how to use.
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Death Benefits: The death benefit can be claimed by the beneficiaries in the event of the death of the customer so that his/her loved ones have some financial security in their absence.
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Tax Benefits: In addition to the insurance and investment benefits, these plans provide life insurance tax benefits under Sections 80C and 10(10D) of the IT Act, 1961 as per the prevailing tax laws.
What Factors Affect Reliance Nippon Life Insurance Premium Rates?
Certain factors directly affect the premium rates of life insurance plans. Therefore, customers must know about these factors before they make a plan purchase. They are as follows:
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Age: Premium rates are lower for younger customers. It is hence advisable to begin investing in life insurance early.
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Gender: Women get better premium rates than men.
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Sum Assured: Higher the Sum Assured, lower will be the premium, is the general rule of thumb.
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Occupation: People in dangerous occupations usually have to pay higher premiums, like sailors, miners, pilots, etc.
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Premium Payment Term: If a customer invests in a policy for a longer period of time, he will usually get a reduction on the premium amount.
How to Buy Reliance Life Insurance Plan from Policybazaar?
Here is how you can buy a Reliance life insurance plan from Policybazaar:
Step 1: Visit the life insurance page of Policybazaar
Step 2: Fill in your name, gender, and other contact information
Step 3: Select the right annual income, occupation type, educational qualifications, and smoking habits
Step 4: Choose the most suitable Reliance life insurance plan and proceed to pay
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Note: You should also check the benefits of term insurance if you are planning to purchase the term insurance plan.