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Reliance Nippon Life Health Insurance Plans

With the current lifestyle most individuals lead, health ailments have become frequent. With the constant rise in the cost of medical treatment, health-related treatment often eats into an individual’s savings. With the Reliance Nippon Health plans, policyholders can be assured of complete care without needing to worry about mounting hospital bills or sundry expenses that are associated with an illness. The plans provide the policyholder with health coverage as well as a number of benefits.

Benefits of Reliance Nippon Health Plans:

The benefits associated with Reliance Nippon Health Plans are listed below:

  • Complete coverage for healthcare related expenses.
  • Long term coverage: The plan provides coverage for up to 99 years of age, ensuring the policyholder is insured for his/her lifetime.
  • Choice of premium payment: The plan allows policyholders a choice of premium payments based on their convenience.
  • Extensive coverage: The plan provides coverage for a range of critical illnesses as well as surgical benefits in addition to recuperation benefits.
  • Tax benefits: Policyholders stand to receive tax benefits from premium amounts as well as on benefits received through the policy.

List of Reliance Nippon Health Plans:

Plan name Entry age Maturity age Premium
Reliance Nippon Easy Care Fixed Benefit Plan Minimum entry age- 18 years Maximum entry age- 65 years 65 years (renewability up to 99 years) Dependent on age, gender, sum assured selected

1. Reliance Nippon Easy Care Fixed Benefit Plan: This is a non-linked individual fixed benefit health plan with a fixed policy term of 5 years. The plan can be renewed on maturity till the policyholder attains 99 years of age. Some of the features and benefits of the plan are as follows:

  • Fixed renewable policy term: The policy has a fixed term of 5 years, which can be renewable till the policyholder reaches 99 years of age.
  • Choice of coverage: The plan provides a range of options to choose from
  • Daily hospitalisation cash: The policy pays policyholders a fixed daily sum to meet day-to-day expenses in case of hospitalisation. The daily benefit paid is 1% if the sum assured amount.
  • ICU benefit: In case of the policyholder being in the ICU, an additional 100% of the hospital cash amount is paid out each day.
  • Recuperation benefit: Policyholders also receive a recuperation benefit of 3% of the sum assured for up to 7 days following hospitalisation provided daily hospital benefit was paid for the same. This is payable once in a policy year.
  • Surgical cash benefit: A lump sum amount is paid out if the policyholder has to undergo a surgery from the 10 major surgeries listed under the policy.
  • Critical illness cover: The policy provides full coverage for 10 critical illnesses as listed in the policy document.
  • Cashless service: The policy provides cashless service at over 4,000 hospitals across the country.
  • Fixed premium rate: The policy guarantees a fixed premium rate for all 5 years of the policy term.
  • No claim bonus: The policy provides a no claim bonus for every year that is claim free. As part of the no claim bonus, the sum assured amount is raised by 5% for each claim-free year.

Why You Should Opt For Reliance Nippon Health Plans?

Reliance Nippon offer policyholders a health plan that provides comprehensive coverage in the event of any health-related risks. The plan also provides policyholders with the following benefits in addition to the perks offered, as listed below:

  • Tax benefits under Section 80C of the Income Tax Act of 1961, entitling policyholders to tax benefits on the amount paid as premium for life insurance policies.
  • Additionally, policyholders will also receive tax benefits in the form of tax exemptions on all benefits such as death benefit, survival benefit, maturity benefit etc. received under a life insurance policy.

The above deductions and tax benefits are subject to tax laws and are liable to change from time to time. It is always prudent to consult a chartered accountant or an individual conversant with present tax laws with regard to the same.