Flexible and Affordable Life Coverage with Acko's Flexi Life Insurance Plan
After insuring crores of people with health and motor insurance, we are now setting sail into the world of Life Insurance in India. Introducing ACKO Flexi Life Insurance Plan. It is packed with useful features and a promise to provide a financially stable future to your loved ones with the amount of money you choose for them.
We're all about making life easier! Being digital-first means you can easily buy, or make claims on your life insurance policy with us. No more hassle, just simple and quick steps.
We believe in being fair and friendly with your wallet. Our insurance plans give you excellent coverage without breaking the bank. So, you can stay protected and save money at the same time. That's a win-win!
Our online system is designed to process claims super fast. That means your loved ones can get the financial help they need without any delays.
The ACKO Flexi Life Plan is like a safety blanket for your family. Think of it as a promise that if something were to happen to you, your loved ones would still be financially secure. What's really cool about this plan is that it's super flexible! You can make changes to it as your life changes. For instance, you can tweak how much money your family would receive, how long the plan lasts, how often you make payments, and even how the money is given to your family. Here's something really handy: this plan also offers a service to help you create a will. A will is like a letter where you can specify who should get what, when you're no longer around. It ensures that your family receives the money from the plan exactly as you want it to be. So, it's not just insurance, it's insurance that adapts to your needs and lets you make sure your family is taken care of just the way you wish! In summary, you get the following benefits with your ACKO Flexi Life Insurance Plan.
The sum assured of the plan will be given to your nominee as per your wishes.
We will help you create a will to draw a clear picture of which assets go where.
The flexibility to customise coverage throughout the policy period.
Useful riders to enhance the coverage of your ACKO Flexi Life Insurance Plan.
Buying a life insurance plan is a long-term commitment you make for the financial well being of your family. A lot can change during the course of the policy period. For example, you could get promoted multiple times, your children may become financially independent, or you could save a considerable amount of money. The Flexi Benefit of our plan is a unique feature that lets you customise the plan as per your changing needs. Here is a list of things you can customise in your ACKO Flexi Benefit Plan.
Sum assured is the amount your family will receive in case of your death during the policy period. You can increase or decrease this amount as per your changing financial status through the course of the plan.
This is the time through which your policy will remain active if you pay premiums regularly. You can increase or decrease your policy term as per your view on how long your policy should remain active.
We have four options for premium payments: monthly, quarterly, half-yearly, and yearly. You can choose to select any of these options to suit your needs.
This option allows you to control how the sum assured of the policy will be paid to your nominee. You can choose if the claim settlement is partially done through monthly payments or as a one time full payment.
ACKO Flexi Life Insurance Plan comes with an option to enhance your coverage with the help of useful add-ons. Here’s a life for a quick look.
Think of the Critical Illness Life Insurance Rider as an extra layer of protection for your life insurance. It's like having a safety net in case you get seriously ill. If that happens, this rider can provide you with a predetermined amount of money to help you through a tough time.
Another important benefit of this rider is, we waive off all future premium payments that are due for your ACKO Flexi Life Insurance Plan. So, you can fully concentrate on getting medical treatment without worrying about keeping the plan active.
Life is unpredictable and may throw a curveball at any time. But if you plan ahead and opt for this rider, then your family can receive an additional amount of money if your death is caused by an accident.
If you face a situation where you're not just sick or injured temporarily, but something really serious happens. For example, a major accident that leaves you permanently unable to work or take care of yourself. That's where the Accidental Total Permanent Disability (ATPD) rider comes into play. Under this rider, you get an additional amount. You can use it to cover day-to-day costs. Additionally, we will waive off all the future premiums of your ACKO Flexi Life Insurance Plan.
You need to fulfil at least the following criteria to buy the ACKO Flexi Life Insurance Plan
You should be at least 18 years old to buy life insurance from ACKO.
The exit age for ACKO Flexi Life Insurance plan is 65 years.
We just need to know the basic details about your educational background.
Your occupation can influence your eligibility and premium rates. Jobs involving high-risk activities like mining, deep-sea diving, or stunt work may require you to pay higher premiums. In some cases, we may have specific exclusions or conditions for certain professions.
Your income plays a role in determining the amount of coverage you can buy. Typically, your life insurance coverage should be based on your financial responsibilities, such as loans, dependents, and future expenses. So, having a stable income is important to ensure you can pay the premiums regularly and keep the policy active.
Other factors like health status, lifestyle habits, hobbies, etc. can also impact your eligibility.
The claim process for ACKO Flexi Life Insurance Plan is very simple and your nominees can easily raise a claim when the need arises. Here are the steps to raise a claim.
Download the ACKO app and login to the policyholder’s account
Find the ACKO Flexi Life Insurance Plan and click “claim”.
Next, you need to answer a few basic questions and upload the necessary documents. Then double check all the details and submit the claim.
The minimum policy term for this plan is 5 years.
Yes, you get a freelook period of 15 days on your ACKO Flexi Life Insurance Plan.
Yes, we have a grace period of 15 days if you pay your premium monthly. For other premium payment options, the grace period is 30 days. The policy will lapse if the premium is not paid within the grace period.
Nominee is a person you appoint to receive the sum assured of your policy. This person can claim against the policy after your death. You can appoint multiple nominees under your ACKO Flexi Life Insurance Plan where they will receive percentage-wise payouts of the sum assured as per your instructions.
Yes, you must complete the KYC process to buy life insurance from ACKO.
Endorsements are requests you can make to change a few things in your life insurance plan after you buy the policy. You can request endorsements for the following under your ACKO Flexi Life Insurance.
You can add, delete, or edit the nominee details
You can change spelling errors in your name or change the name by submitting supporting documents
You can change the residential address
You can edit the date of birth
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content, and before making any insurance-related decisions.