Reliance Nippon life insurance
Reliance Nippon Life Insurance Claim Settlement Process

Reliance Nippon Life Insurance Claim Settlement

For Reliance Nippon Life Insurance Company, every claim that has been settled represents the commitment of the company towards its customers, and they are true to their words as their claim settlement ratio is 98.7% as of March 31, 2022. They also promise to provide 10 days service guarantee along with a smooth and seamless claim experience. So, today we are going to talk about everything that you need to know about the claim settlement process of this insurer. Have a look at the below mentioned.

Claim Process of Reliance Nippon Life Insurance Company

Living benefits and rider claim, Cancer protection plus, and death claim process:

Follow the step by step guide to avail of a smooth claim process:

  • As soon as the incident happens, you need to intimate the insurer and register your claim.
  • All the documents will be verified and assessed by the claim team of the company in reference to the policy wording and the terms and conditions of the company.
  • If any further documentation is required, the company will communicate the same to you within a stipulated turn-around time (TAT) of 3 Working Days.
  • If the claim requires any investigation, a surveyor will be appointed, and the same will be informed to the claimant, who will be provided with a dedicated toll free claim helpline.
  • Once the insurer receives all the documents and the investigation report, if any, they will give their final verdict, and your claim will be settled within stipulated time through electronic mode such as NEFT or via cheque that will be sent to your registered address.

Survival and maturity claim process:

Here are the mentions of the steps.

  • The insured person will be notified by the company about the survival benefits due on their policy and/or maturity of the policy prior to 90 days to the due date.
  • The company will request the bank details of the customer if not already available.
  • Once the4 company receives the bank details, the benefit amount will be processed within 7 days from the due date.
  • The amount will be settled either via NEFT or via cheque.

Annuity claim process:

The following steps will be followed:

  • The insurer will intimate the customer to submit the life insurance certificate for the annuity policy 90 days prior to the date of the policy anniversary.
  • The customer has to send the certificate 7 days prior to the anniversary date.
  • Then, the company will ask for the bank details, if not available.
  • Once the certificate is received, the insurer will process the annuity amount as per the annuity payouts.
  • The amount will be settled either via NEFT, or cheque.

Health Claim Process:

Cashless claim:

Have a look at the following mentions.

  • For planned or emergency hospitalization, intimate the TPA appointed by RNLIC.
  • The TPA will directly communicate with the hospital for the authorization/pre-authorization of treatment, and the approval of the claim, as per the terms and conditions.
  • The TPA will directly settle the claim amount with the hospital.

Reimbursement claim:

Follow the below steps.

  • The insured person has to send all the required documents along with the duly filled and signed claim form to the TPA or INLIC within 15 days from the date of discharge.
  • The TPA will verify and review the documents, and if any additional documents are required, that will be communicated to the customer.
  • Once the company receives all the documents and completes the final verification, the ultimate verdict will be communicated to the claimant, and the claim will be either settled or denied.

Group Claim Process:

Here are the mentions of the steps.

  • If a member dies, the death claim has to be reported to the master policyholder, along with all the required documents.
  • The master policyholder will send the claim and documents to the company.
  • The documents will be verified by the company, and if any further documents are required, the same will be communicated to the master policyholder.
  • If no discrepancy is found, the claim will be approved, the amount will be settled within 3 working days.

Benefits Claim Process:

Look below for the right steps.

  • The claim forms have to be signed by the trustee and sent to RNLIC through the respective Key Account Manager.
  • The claim management team will assess the claim and the documents against the policy documents and terms and conditions.
  • If the claim is approved, it will be initiated within 3 working days.

Necessary Documents For Reliance Nippon Life Insurance Claim Settlement 

Living Benefits or Rider Claims 

Critical illness or major surgical benefit:

  1. Claim Form A – Critical Illness / MSBR – to be filled by the Life Assured
  2. Claim Form B – Medical Attendant Certificate to be filled, signed, and stamped by the Treating Doctor
  3. Copy of all Medical / Hospital records (First consultation notes, Certificate of Diagnosis, Lab Reports including Biopsy / Histopathology reports, if any, Admission and Discharge Summary)
  4. Copy of Policy Document
  5. KYC Document of Life Assured, if not provided earlier
  6. Bank details of Life Assured (Personalized canceled Cheque or Completed Bank Authorization Form, attested by the Bank, along with a self-attested copy of Passbook / Bank Statement with IFSC and Bank Account number mentioned thereon)

Total and permanent disability benefits:

  1. Claim Form A – Total & Permanent Disability – to be filled by the Life Assured
  2. Claim Form B – Medical Attendant Certificate – to be filled, signed, and stamped by the Treating Doctor
  3. Disability Certificate issued by Competent Authority
  4. Copy of all Medical / Hospital records (Admission Notes, Discharge Summary, and Test Reports)
  5. Copy of Policy Document
  6. KYC Document of Life Assured, if not provided earlier
  7. Bank details of Life Assured (Same as point number 7 of the previous sections). 

Waiver of premium on the parent:

  1. Claim Form A – Waiver of Premium Payment – to be filled by the Nominee
  2. Original Death Certificate of Proposer 
  3. All Medical / Hospital records of Proposer (Admission Notes, Discharge Summary, Test Reports, etc.) 
  4. Copy of Policy document 
  5. KYC Document of Nominee 
  6. Bank details of Nominee

Death Claims

Required Documents:

  1. Claim Form A – to be filled by the Nominee / Claimant
  2. Claim Form B – Medical Attendant Certificate to be filled, signed, and stamped by the Treating Doctor
  3. Claim form C – Certificate of Identity to be filled by the person who knew the deceased other than Nominee / Claimant
  4. Original Death Certificate issued by local Municipal Corporation or Competent Authority
  5. Copy of all Medical / Hospital records 
  6. Copy of Medico-Legal Cause of the Death certificate by the doctor confirming cause of death
  7. Original Policy document
  8. KYC Document of Nominee / Claimant
  9. Bank details of Nominee / Claimant 

Additional documents for deaths due to accident, murder, or suicide:

  1. First Information Report
  2. Post Mortem Report
  3. Newspaper cutting where available
  4. Viscera Report / Chemical Analysis Report, where applicable
  5. Final Police Investigation Report, where applicable
  6. Copy of Driving License if Life Assured was driving the vehicle at the time of the accident 

Survival, Maturity, and Annuity Claims

Required Documents:

  1. Request a letter for updating your Bank Details, if not provided earlier.
  2. Personalized canceled Cheque or Self-attested copy of Passbook /Self-attested copy of Bank Statement with IFSC and Bank Account number mentioned thereon.
  3. Life Certificate to be submitted prior to the end of every policy Anniversary year. (For Annuity claims only).

Health and Cancer Protection Plus Claims

  • For Cashless Claims:
  1. Cashless Request Form – duly filled in by the Insured
  2. Copy of Health Card
  3. KYC document of the Insured / Patient
  4. Original Discharge Summary and other Investigation Reports will be retained by the Hospital
  • For Reimbursement Claims:
  1. Standard Reimbursement Claim Form Part A – to be filled by the Insured 
  2. Standard Reimbursement Claim Form Part B – to be filled by the Insured and Hospital.
  3. Discharge Summary from Hospital.
  4. All Investigation Reports, Doctors’ prescriptions 
  5. Hospital bills, Hospital payment receipts, Pharmacy bills with date 
  6. A Break-up of Investigation charges (under main hospital bill) 
  7. MLC/FIR/ Self declaration for accidental injury/treatment 
  8. KYC document of the Insured / Patient 
  9. Bank details of the Insured

Group or Employee Benefit Claims 

  • Employer – employee claims:
  1. Group Term Claim Form – to be filled, signed, and stamped by Authorized Signatory of Master Policyholder 
  2. Death Certificate 
  3. Copy of Medico Legal Cause of the Death certificate by the Doctor confirming the cause of death 
  4. KYC Document of Nominee 
  5. Bank details of Nominee
  • Non-employer – employee (lender – borrower) claims:
  1. All the above-mentioned documents as mentioned under the section of Employer – Employee Claims section.
  2. Claim Form B – Medical Attendant Certificate to be filled, signed, and stamped by the Treating Doctor 
  3. Copy of all Medical / Hospital records (Admission Notes, Discharge / Death Summary, Test Reports, etc.)
  4. Application Form / Declaration of Good Health (DGH)
  5. The direction of Claim Proceeds Form – to be filled by Nominee 
  6. Vernacular Declaration Form – to be filled by another person if Nominee is signing in vernacular 
  7. Original Certificate of Insurance 
  8. Loan Repayment Schedule & Loan Statement of Account
  • Ways of registration of a claim – For registration, you can send all the required documents to any of the official branches of RNLIC. Or, you can use rnlife.claims@relianceada.com, their email ID, to register the same. 
  • In the case of an employee benefit claim, the gratuity or superannuation claim form will be filled, signed, and stamped by the trustee.
  • Photocopies of submitted documents should be attested by a Reliance Nippon Life Insurance Official.
  • In case of any misleading information and insufficient documents, the company may cancel the claim request.
  • A 10-Days Claims Settlement Guarantee – This unique facility is offered for death claims that are received from all the Life Policies where 4 or more annual premiums have been paid. The company promises to settle the claim within flat 10 Calendar Days. In case of delay beyond regulatory turnaround time, applicable interest as per IRDAI regulations will be paid.
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