Yes. Nomination is mandatory and following fields need to be provided mandatorily:
Following information will be optional at the time of investment, but will be mandatory
at the time of claim settlement.
- Nominee Date of Birth (Guardian details if the nominee is minor).
- Relationship with investor (Mandatory for all nominees).
- Allocation Ratio
The registered nominee in the folio can submit the claim request in case of death of the insured who has opted for SIP Insure.
In case of death of the insured, the nominee needs to submit the claim documents to the address stated below:
Reliance Nippon Life Insurance Co. Ltd,
9th Floor, RTech Park,
Next to Hub mall,
Off western express highway,
Mumbai – 400063
It takes 45 calendar days for the SIP Insure claim to be processed from the receipt of claim request with complete documents by Reliance Life Insurance Company in case of death of the insured.
If the investor re-registers for SIP Insure in “Direct Plan”, the Sum Assured (insurance cover) will be applicable as per fresh registration.