Under 'Claims Guarantee' the company guarantees to pay claims within 12 working days of receipt of all required death claim documents from the nominee or claimant, provided full premium is paid by the policyholder for at least three policy years and the required claim application documents are submitted.
Independent valuers have given a liquidation value of up to Rs 13,000 crore for Reliance Capital, sources said. The Reliance Capital administrator, in the Committee of Creditors (CoC) meeting held on Wednesday, presented the valuation reports of the independent valuers - Duff & Phelps and RBSA, to the lenders. According to sources, independent valuers Dufff & Phelps and RBSA have given a liquidation value of around Rs 13,000 crore for Reliance Capital (RCAP).
The planned deal will reduce Reliance Capital's stake in Reliance Life Insurance to 51 per cent from 74 per cent.
The transaction pegs the total valuation of Reliance Life Insurance at approximately Rs 11,500 crore ($2.6 billion), the statement said, adding that the transaction is subject to necessary regulatory approvals.
The key highlight Reliance Life Insurance Highest NAV Advantage Plan is that it offers guarantee on maturity with the highest net asset value per unit achieved during the entire 15 years policy term, Reliance Life Insurance said in a statement.
Anil Dhirubhai Ambani Group company Reliance Life Insurance has been awarded a high rating in customer satisfaction for the third year in a row, according to a survey.
The Anil Dhirubhai Ambani Group's financial services arm Reliance Capital on Friday said it has received approval from the Reserve Bank of India (RBI) for its proposed 26 per cent stake sale in Reliance Life Insurance to Japan's Nippon Life.
Bullish on growth of the insurance sector, Reliance Life Insurance is set to hire 2,500 managers, besides 90 thousand advisers in the next four months.
Japan's largest life-insurer, Nippon Life is eyeing 26 per cent stake in Anil Ambani-owned Reliance Life Insurance Co.
The lone public sector player Life Insurance Corporation fared much better than its private sector peers did.
The Anil Ambani Group's financial services arm Reliance Capital on Wednesday said it has received in-principle approval from insurance sector regulator Insurance Regulatory Development Authority for its proposed 26 per cent stake sale in Reliance Life Insurance to Japan's Nippon Life.
Primarily trained for a career in FMCG, he shifted to insurance when the opportunity came his way.
Here's your chance to land a job during your vacations. Here are some openings.
Under the current norms, a prospective agent needs to undergo mandatory 50 hours of training.
By contrast, the fraud enabled Raju's kin and aides to make hundreds of crores, charges CBI.
While most analysts had valued Reliance Capital's stake in Reliance Life Insurance at Rs. 285 per share, or about Rs. 7,000 crore, this deal values it at Rs. 468 per share of Reliance Capital, which is a huge premium.
Pvt life insurers are planning to foray into health covers, with standalone health insurance policies.
Reliance HR Services (RHRS), a human resources company formed by the Reliance Anil Dhirubhai Ambani Group (ADAG), will recruit half a million people for the group in the next four years.
Reliance Life's virtual office has become the focal point of real-time interactions for its customers, agents and employees. It offers consumers the ability to review insurance claims and manage their plans; perform online transactions, such as ordering policies; access a consolidated, interactive snapshot of their retirement plans; and receive personalised health and investment news.
The total number of agents of Reliance Life at the end of September stood at 211,293. By December-end, the numbers were down by 68,450 to 142,843, according to an investor presentation made by the company.
Not all companies are generous with numbers these days - they're willing to share details of their core operations, but many of them are reluctant to let shareholders get even a glimpse of newer ventures
The Anil Dhirubhai Ambani Group Company also announced to invest Rs 1,000-1,200 crore (Rs 10 to 12 billion) on expansion of its life insurance business in the next 2-3 years. The company is aiming to sell one million 'Express Life' policies in this financial year.
According to Insurance Regulatory and Development Authority recommendations, a uniform grace period of 30 days is extended for annual, half-yearly and quarterly renewals, and 15 days for monthly renewals.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The 'Online Term' also offers higher life protection up to the age of 75 years through a transparent and hassle-free online process and provides the convenience of medical check-ups, if any, at the customer's residence.
Here's a quick at the two cousins, Akash and Anmol.
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in the past two years
The revival initiative allows RLIC policyholders to renew their lapsed policies by simply paying their due premium -- without any penalty or medical tests.
The Anmol effect: R-Cap shares jump 40% since junior Ambani joined the board
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
Moving to a new company means losing out on continuity benefits
The new executive director of Reliance Capital has big shoes to fill in every way.
Thirty-two-year-old Sudhir Kumar Chaudhary, who has devoted his life to Sachin Tendulkar, has vowed to cheer the Indian cricket team wherever it plays in India.
Company launches claim guarantee scheme for customers.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
The regulator has put a cap on the business a bank can get from a single insurer.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
HDFC Life, which posted a consolidated net profit of Rs 281.83 crore (Rs 2.81 billion) for the quarter ended June compared with Rs 11.92 crore (Rs 119.2 million) in corresponding period last year (according to HDFC's first quarter results), has diversified its distribution mix.
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