Reliance Life:

Reliance Life Insurance Company is a subsidiary company of Reliance Capital Ltd., which is a part of Reliance- ADAGroup. RLIC closed this year with a new premium of about Rupees 3513 Crores and for almost three years the company managed to be one of the fastest growing Company with a growth rate of over 28% last financial year as against the market rate of -6%.

The company has been entitled as the 4th largest private company in span of two years where it began at the position of rated as 11 on the list by crossing the mark of 1.7 million policies.

Reliance Life Insurance has about 1145 branches operating in India. The company has been awarded with the Jamnalal Bajaj Uchit Vyavhar Puraskar 2007- considered as the Certificate of Merit in the financial category by the council for Fair Business Practices (CFBP).

The Company also bagged DL Shah Quality Council of India Commendation Award in the services group. The company’s mission is to help create matchless value for individuals with the help of reliable, transparent, efficient and profitable life insurance and pension plans.

Reliance Life Insurance Products include Protection Plans, Savings & Investment Plans, Retirement Plans and Child Plans along with other services to ensure safety in different sectors. The company is targeting about Rupees 500 Crore, compared to the present value of Rupees 10 Crore, of new premium form rural areas over a span of next three years.

The procedure will involve application of group insurance products along with the facility of loans disseminated through Micro Finance Institutions (MFIs). To initiate this process the company has plans to set up partnerships with other companies such as MFIs, self help groups, NGOs, institutions and banks who are already in the process of providing financial aid pertaining to the rural development projects.