Life insurance is a type of insurance that helps provide financial protection against the risk of death. It is a contract between an individual and an insurer, where the insurer agrees to pay a sum of money either to the individual or their beneficiaries in exchange for a premium, should the insured die during the term of the contract.
Many factors come into play when you are looking for life insurance. You need to know how much coverage you want and how much money you want to pay for it and how to choose the best life insurance company, and other factors. By comparing life insurance quotes online at PolicyBachat you can easily decide on which company to choose and it is helping you find the best life insurance policy that fits your requirement.
Comparison of life insurance online leads to cost efficiency due to low operating costs to maintain online. It helps to calculate the pros and cons of the policy and buy the desired policy. PolicyBahct gives you the distinction between the carrier backgrounds, claim settlement ratio, and solvency ratio to configure the right life insurance policy.
This article will compare two different life insurers such as Bharti AXA life insurance and Reliance Nippon Life Insurance. But, before diving into the topic let us understand the benefits, key features, and plans available in individual life insurance companies.
Bharti AXA Life Insurance
Bharti AXA Life Insurance Company is a joint venture between Bharti Enterprises and the AXA Group, a multinational investment banking firm and financial expertise headquartered in Paris. It is one of India's leading business groups with interests in Telecom, agricultural business, and financial services. Bharti AXA Life Insurance Company Limited provides a wide range of plans to their customers. It consists of saving plans, children's education plans, term insurance plans, ULIP plans, etc. Bharti AXA Life Insurance provides long-term value to its customers. It provides an excellent claim settlement ratio and gives the best services to its customers.
Bharti AXA Life Insurance Plans List
| Type of Plans |
Bharti AXA Life Insurance Plans |
| Term Plans |
- Bharti AXA Life Flexi Term Plan
- Bharti AXA Life Saral Jeevan Bima Plan
- Bharti AXA Life Premier Protection Plan
- Bharti AXA Life Grameen Jeevan Bima Yojana Plan
- Bharti AXA Life Smart Jeevan Plan
- Bharti AXA Life Income Protection Plan
- Bharati AXA Life POS Saral Jeevan Bima Yojana
- Bharti AXA Life Flexi Term Pro Plan
|
| Savings Plans
|
- Bharti AXA Life Shining Stars Plan
- Bharti AXA Life Elite Advantage Plan
- Bharti AXA Life Super Series Plan
- Bharti AXA Life Guaranteed Income Pro Plan
- Bharti AXA Life Super Endowment Plan
- Bharti AXA Life Monthly Income Plan Plus
- Bharti AXA Life Dhana Varsha Plan
- Bharti AXA Life Samriddhi Plan
- Bharti AXA Life Monthly Advantage Plan
- Bharti AXA Life Secure Income Plan
- Bharti AXA Life Guaranteed Income Plan
- Bharti AXA Life POS Saral Bachat Yojana Plan
- Bharti AXA Life Aajeevan Sampatti Plus Plan
- Bharti AXA Life Flexi Save Plan
- Bharti AXA Life Serv Suraksha Plan
- Bharti AXA Life Unnati Plan
|
| Child Plans |
- Bharti AXA Life Child Advantage Plan
|
| ULIP Plans
|
- Bharti AXA Life Wealth Pro Plan
- Bharti AXA Life eFuture Invest Plan
- Bharti AXA Life Grow Wealth Plan
- Bharti AXA Life Future Invest Plan
|
| Retirement Plans |
- Bharti AXA Life Aajeevan Sampatti+
- Bharti AXA Life Grow Wealth
- Bharti AXA Life Super Endowment Plan
- Bharti AXA Life Dhan Varsha
- Bharti AXA Life Saral Pension Plan
|
Benefits of Bharti AXA Life Insurance
- Bharti AXA Life Insurance Company offers a variety of life insurance plans such as term insurance, savings, investment, health, group, and micro-life insurance plans online as well as offline to their customers.
- Bharti AXA Life Insurance Company has an excellent team of customer service. Some of the virtues include fairness, consistency, agility, and flexibility.
- Bharti AXA Life insurance plans are quite cheap and provide comprehensive life cover on the payment of an affordable premium.
- You can pay your premium at your convenience monthly, quarterly, half-yearly, or annually premium paying option.
- Bharti AXA Life Insurance plans offer tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961 provides tax benefits for premiums paid regularly.
- Bharti AXA Life Insurance offers the facility to the policyholder to include special riders that allow additional benefits under specific circumstances.
Reliance Nippon Life Insurance
Reliance Nippon Life Insurance Company Limited is one of the leading private sector life insurance companies in India. Reliance Nippon Life Insurance Company is an important part of Reliance Capital and it is a private-sector financial services and Non-banking Company. Reliance Nippon Life Insurance company has private limited life insurers with over 10 million customers and a strong distribution network of 713 branches and 42,604 advisors as of March 31, 2021. Reliance Nippon Life Insurance provides a wide variety of insurance plans to individuals as well as groups such as protection plans, retirement plans, term plans, health plans, savings and investment plans, child plans, etc.
List of Reliance Nippon Life Insurance Plans
| Type of Plan |
Reliance Nippon Life Insurance Plans |
| Term Insurance Plans |
- Reliance Nippon Life Protection Plus
- Reliance Nippon Life Digi Term Insurance Plan
- Reliance Nippon Life Saral Jeevan Bima
|
| Savings Plans |
- Reliance Nippon Life Nishchit Samrudhi
- Reliance Nippon Life Super Bachat Plus Suraksha
- Reliance Nippon Life Milestone Plan
- Reliance Nippon Life Super Endowment Plan
- Reliance Nippon Life Super Moneyback Plan
- Reliance Nippon Life Increasing Money Back Plan
- Reliance Nippon Life Future Income
- Reliance Nippon Life Fixed Money Back
- Reliance Nippon Life Increasing Income Insurance Plan
- Reliance Nippon Life Smart Zindagi Plus
- Reliance Nippon Life Bluechip Savings Insurance Plan
- Reliance Nippon Life Fixed Savings
- Reliance Nippon Life Guaranteed Money Back Plan
- Reliance Nippon Life Lifelong Savings
|
| Retirement Plans |
- Reliance Nippon Life Immediate Annuity Plan
- Reliance Nippon Life Smart Pension Plan
- Reliance Nippon Life Saral Pension Plan
|
| ULIP Plans |
- Reliance Nippon Life Smart Savings Insurance Plan
- Reliance Nippon Life Prosperity Plus
- Reliance Nippon Life Premier Wealth Insurance Plan
- Reliance Nippon Life Classic Plan II
|
| Health Plans |
- Reliance Nippon Life Cancer Protection Plus
|
| Group Plans |
- Reliance Nippon Life Group Employee Benefits Plan
- Reliance Nippon Life Group Term Assurance Plus
- Reliance Nippon Life Group Unit Linked Employee Benefits Plan
|
Benefits of Reliance Nippon Life Insurance
- Reliance Life insurance plans are quite cheap as compared to other types of life insurance policies.
- You can choose your premium payment term as per your requirement in reliance life insurance policy.
- It offers online life insurance plans so you can buy the policies online at your convenience with the click of the mouse.
- Reliance Nippon Life Insurance Company offers a variety of life insurance plans online as well as offline.
- Reliance Nippon Life Insurance Company has an excellent team of customer service that offers good and hassle-free services.
- The premium paid towards reliance on Nippon life insurance company are tax exempted under Section 80C and section 10(10D) of the Income Tax Act 1961.
Comparison Table of Bharti AXA Life Insurance vs Reliance Nippon Life Insurance
| Parameter |
Bharti AXA Life Insurance |
Reliance Nippon Life Insurance |
| Claim settlement ratio |
99.05% |
98.49% |
| Solvency Ratio |
1.8 |
2.41 |
| Inception |
2006 |
2001 |
| Number of Branches |
268 |
714 |
| Availability |
Online/Offline |
Online/Offline |
| Life Cover |
Up to 99 Years |
Up to 99 Years |
| Types of Plans |
- Term Plans
- Child Plans
- Savings Plans
- Investment Plans
- Protection Plans
- ULIP Plans
- Retirement Plans
|
- Term Plans
- Savings Plans
- Retirement Plans
- ULIP Plans
- Health Plans
- Group Plans
|
| E-Services |
- Buy Policy
- Renew Policy
- Claim Settlement
- Download Statements
- Track Claims, etc.
|
- Buy Policy
- Renew Policy
- Claim Settlement
- Track Policy
- Pay Premium
- Update Details, etc.
|
| Riders Available |
- Term Rider
- Premium Wavier Rider
- Hospi Cash Benefit Rider
- Accidental Death Benefit Rider
- Group Accidental Death Benefit Rider
|
- Accidental Death and Disability Plus Rider
- Family Income Benefit Rider
- Critical Illness Plus Rider
- Surgical Benefit Rider
- Accidental Death Benefit Rider
|
How Do Bharti AXA vs Reliance Nippon Life Insurance Plans Compare?
Bharti AXA Life Insurance and Reliance Nippon Life Insurance are two of the top insurance companies in India. However, they have different approaches to insurance policies and pricing. Here is a comparison of the plans offered by both companies so you can make your choice. It can be difficult to choose between Bharti AXA and Reliance Nippon when it comes to choosing an insurance plan for you or your family. We'll help you make an informed decision with our comparison of their plans.
You can get the instant comparison in simple steps
- Visit the Policybachat Website and select the ‘Life’ tab.
- Enter your Name, Date of Birth, and Mobile Number.
- Click on the ‘View Plans’ button.
- Just Answer 5 Simple Questions.
- Select your ‘Gender’.
- Select ‘YES’ or ‘No’ if you have Smoked or Chewed Tobacco in the last 12 months.
- Select your ‘Annual Income’.
- Select your ‘Education Qualification’.
- Choose your ‘Occupation Type’.
- Enter your ‘Email Address’.
- Then click on ‘Start Saving Money’.
- Premium Quotes of top life insurance plans will be displayed where you can compare plans, premiums, and benefits.
- You can add riders; edit your sum insured, policy premium frequency, etc.
- Purchase the best life insurance policy using online payment
Conclusion
Bharti AXA Life Insurance and Reliance Nippon Life Insurance are two of the most popular life insurance companies in India and both companies have their pros and cons. To make a better decision, you should make sure that you have all the information about life insurance companies available in the market. And there are many factors that you should consider before deciding which one to choose.
The first thing that you should consider is the coverage and sum assured. Secondly, you should compare the premium rates to see which one is cheaper for you in terms of monthly payments and the total amount paid over some time. Lastly, you should look at the features offered by each company to see which one has more benefits that suit your requirement.
However, this decision has become much easier with the help of PolicyBachat. If you are looking for Bharti AXA Life Insurance Vs Reliance NipponLife Insurance Comparison, Key Benefits, and Features to buy the best life insurance, compare life insurance quotes to get the best life insurance policy online.