Quote Form

Our representative will call you within few minutes
Online Premium Payment 606 views June 30, 2021
Reliance Nippon Life Insurance offers you a wide range of options to pay your premium on time. You can pay your premiums online, offline, using Electronic Clearance System (ECS)/National Automated Clearing House (NACH), Common Service Centers (CSC), etc. Read this page further and know more about the Reliance Life Insurance Premium Payment services.
Table of Contents
You can pay your premiums online by following the steps mentioned below:
You can use the NACH/ECS facility to pay your premium, so you don’t have to worry about the payment, as the amount is automatically debited from your specified bank account on the premium due date. To avail of this facility, fill and submit an ECS/NACH form along with a canceled cheque to any of the Reliance Nippon Life Insurance branch offices.
Note: In case your premium due date falls on a holiday, the premium would be deducted on the next working day.
Visit the official website of Reliance Life Insurance and locate the nearest CSC outlet. At CSC outlets, you can make payments in cash up to INR 49,999 only. You’ll receive an instant receipt of the payment.
A modal factor will apply to the base premium of your Reliance Life Insurance Policy depending on the mode of premium payment chosen by you. The premium payment modal factor shall apply to the base premium including underwriting extra premiums. Check out the modal factor for Reliance Life Insurance Premium Payment below:
What Will Happen if You Don’t Pay Reliance Life Insurance Premium?
If you miss the Reliance Life Insurance Premium Payment due date, you’ll have a grace period of 30 days from the due date, provided the premium payment mode is yearly, half-yearly or quarterly modes. In case the premiums are paid in monthly mode, the grace period will be 15 days. However, if you don’t pay your premium during the grace period, the following will happen as per the case:
A lapsed policy can be revived within 2 years from the due date of the first unpaid premium. The revival is subject to the board-approved underwriting policy. If a lapsed policy is not revived within the revival period, the policy will be terminated.
By paying Reliance Life Insurance Premium without any due, you become eligible for the following benefits: