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Is nomination mandatory in Reliance SIP Insure?
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
Who can submit the claim request in case of death of the insured who has opted for SIP Insure?
The registered nominee/ second holder (wherever the nominee is not registered) in the folio can submit the claim request in case of death of the insured who has opted for SIP Insure.
Where does the nominee need to submit the SIP Insure claim documents in case of death of the insured?
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
Reliance Centre, 5th floor, South Wing
Prabhat Colony, Santacruz (W)
Mumbai - 400055
How many days does it take for the SIP Insure claim to be processed in case of death of the insured?
It takes 45 calendar days for the SIP Insure claim to be processed from the receipt of claim request by Reliance Life Insurance Company in case of death of the insured.
What will be the impact on Sum Assured (insurance cover) If the investor re-registers SIP Insure in the “Direct Plan”, which was registered in the “Existing Plan” with ARN code?
If the investor re-registers for SIP Insure in “Direct Plan”, the Sum Assured (insurance cover) will be applicable as per fresh registration.