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ACKO Life Flexi Term Plan

A unique plan that offers flexible coverage as per your changing lifestyle!

The only insurance you need for your life's changing needs

Starting at ₹534/month*

A product of ACKO Life Insurance - ARN: L0021

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ACKO Life Flexi Term Plan
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Acko Life

After insuring crores of people with health and motor insurance, we are now setting sail into the world of term insurance in India. Introducing ACKO Life Flexi Term Plan! It is packed with useful features and promises to provide your loved ones with a financially stable future with the amount of money you choose for them.

Why is ACKO the best choice for Term Insurance?
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ACKO provides you with the only term insurance plan you will ever need!

As the name suggests, the ACKO Life Flexi Term Plan is a highly flexible term insurance plan that will change the way you look at term insurance. This exclusive plan not only offers a financial safety net for your loved ones but also comes with a variety of benefits for you to enjoy as a policyholder. Yes, the only plan in the market that provides unmatched flexibility for your unique needs.

Full flexibility

Full Flexibility
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- Sum Assured: Increase or decrease your sum assured as per your life stages and requirements.

- Policy tenure: Increase or decrease as your financial dependents, loans (home, car, education), lifestyle and income change

Affordable Prices

Affordable Prices
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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!

Easy & Convenient

Easy and Convenient
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We're all about making life easier! Being digital-first means you can easily buy or make claims on your term insurance policy with us. No more hassle, just simple and quick steps.

What is ACKO Life Flexi Term Plan?
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The ACKO Life Flexi Term 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 with just one click in the ACKO App - it’s that simple and straightforward!


Let us look at Ramesh's Financial Journey
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Ramesh, with an annual income of 10 lakh, got married at the age of 30. He secured an ACKO Flexi Term Life Plan with Rs. 1 crore coverage to safeguard his spouse's future.

Five years later, at the age of 35, Ramesh expanded his family by welcoming two children and bought a home through a loan of Rs. 50 lakh. Recognising the increased responsibilities, he decided to increase his coverage to Rs. 2 crore.

At the age of 45 years,  Ramesh successfully repaid the home loan and accumulated a substantial income corpus for his children's education. He then adjusted the coverage to Rs. 1 crore, aligning it with his reduced liabilities.

ACKO Life Flexi Term Plan Benefits
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You get the following benefits with your ACKO Life Flexi Term Plan.

Death Benefit

Life Cover
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The sum assured of the plan will be given to your nominee as per your wishes.

Will Creation Benefits

Will creation services
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We will help you create a will to draw a clear picture of which assets go where.

Flexi Benefit

Flexi benefit
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The flexibility to customise coverage throughout the policy period. You can easily increase or decrease your sum assured and policy tenure.

Manage nominee details (add/delete/update), update personal details and choose payout options for how your nominee receives the claim amount.

Optional Riders

Optional riders
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Enhance your ACKO Life Flexi Term Plan with valuable riders. You can opt for ACKO Life Accidental Death Benefit Rider, ACKO Life Accidental Total Permanent Disability Benefit Rider, or ACKO Life Critical Illness Benefit Rider- a smart means to increase your coverage.

NOTE: Given the prevalence of women-centric cancers in India, having term insurance with a critical illness rider is essential. With an affordable premium, this rider provides a financial safety net (coverage) against life-threatening common illnesses among women such as breast cancer, cervical cancer, fallopian cancer and ovarian cancer.

What does Flexi Benefit mean in ACKO Term Insurance Plan?
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Buying a term 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 Life Flexi Term Plan

Sum Assured

Sum assured
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Sum assured is the amount your family will receive in case of your death during the policy period. You can increase it (once a year) and decrease it after 5 years of policy tenure. You can adjust every year post that.

Policy term

Policy term
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This is the time through which your policy will remain active if you pay premiums regularly. You can increase your policy term (once a year)  and decrease it (after 5 years), as per your view on how long your policy should remain active.

Payment frequency

Payment Frequency
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Currently, the sole payment option is annual. Nevertheless, we plan to introduce monthly, quarterly, and half-yearly options in the future to simplify your journey with us.

Payout Options

Payout options
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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.

Which riders are available with ACKO Life Flexi Term Plan?
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ACKO Life Flexi Term Plan comes with an option to enhance your coverage with the help of useful add-ons. Here’s a list for a quick look.

ACKO Life Critical Illness Benefit Rider
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Think of the Critical Illness Term Insurance Rider as an extra layer of protection for your term 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 that we waive off all future premium payments that are due for your ACKO Life Flexi Term Plan. We cover 21 critical illnesses, so you can fully concentrate on getting medical treatment without worrying about keeping the plan active. 

List of Covered Critical Illnesses 
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Cancer of Specified SeverityBenign Brain Tumor
Myocardial Infarction (First Heart Attack Of Specific Severity)Blindness
Open Chest CABGDeafness
Open Heart Replacement Or Repair Of Heart ValvesEnd Stage Lung Failure
Coma Of Specified SeverityEnd Stage Liver Failure
Kidney Failure Requiring Regular DialysisLoss Of Speech
Stroke Resulting In Permanent SymptomsLoss Of Limbs
Major Organ /Bone Marrow TransplantMajor Head Trauma
Permanent Paralysis Of LimbsPrimary (Idiopathic) Pulmonary Hypertension
Motor Neuron Disease With Permanent SymptomsThird Degree Burns
Multiple Sclerosis With Persisting Symptoms 

ACKO Life Accidental Death Benefit Rider
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Life has its way of surprising us with its unpredictable nature. Anything is possible, and you may throw a curveball at any time. But if you plan ahead and opt for this rider, your family can receive an additional amount of money if your death is caused by an accident. Above all, it is also one of the most affordable riders.

Let's look at how ACKO Life Accidental Death Benefit Rider works.

Ramesh's term insurance covers 1 crore, and he chose an additional Accidental Death Rider that enhances (a lump sum) the base insurance amount. In the unfortunate event of Ramesh's accidental death, his family can claim up to 2 crores as a benefit provided by the rider. While no sum can replace Ramesh for his family, this financial support helps them during tough emotional and financial hardship.

ACKO Life Accidental Total Permanent Disability Benefit Rider
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If you face a situation where you're not just sick or injured temporarily, but something really serious happens. For example, a major accident 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 Life Flexi Term Plan.

What is the eligibility for buying ACKO Life Flexi Term Plan?
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You need to fulfil at least the following criteria to buy the ACKO Life Flexi Term Plan.




Entry Age: You should be at least 18 years old to buy term insurance from ACKO. Exit Age: The maximum exit age for ACKO Life Flexi Term Plan is 70 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 term 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 premium. Find out the right coverage based on your dependents with our recommendation tool.

Other Factors

Other factors like health status, lifestyle habits, hobbies, etc. can also impact your eligibility.

How to claim ACKO Life Flexi Term Plan?
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Your nominees can quickly raise a claim by submitting the required documents to our support email or simply dial 18002101992 . Our claims team at ACKO will handle everything for you. It's that simple!

The disbursement of the sum assured will be carried out in accordance with the conditions outlined by the policyholder in the policy.

Which factors affect the premium of ACKO Life Flexi Term Plan?
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Here are some of the important factors we consider while deciding the premium for your term insurance plan.




The younger you are when you get a term insurance policy, the less money you'll have to pay regularly. It's like a special discount for being young and healthy!

Health Status

We might ask you to see a doctor just to make sure you're doing great. If you're in good health, your payments will be lower. But if you have some health issues, your payments might be a bit higher because we want to make sure you're taken care of.

Lifestyle Choices

Now, about those habits like smoking or drinking – they can make your payments go up a little. It's because these things can sometimes lead to health problems, and we want to keep you safe and sound.

Policy Term

Think of this like choosing how long you want your insurance to last. If you want it for a really long time, you might pay a bit more each time. But if you want it for a shorter period, it can be cheaper.

Sum Assured

Sum assured is the amount your family gets if something happens to you. The premium will be in proportion to the sum assured of your choice. The higher the sum assured, the higher will be your term insurance premium.

Rider Benefits

You can choose riders to enhance the coverage of your ACKO Life Flexi Term Plan. Adding these to your policy is awesome, but it does mean a little extra cost.


Your job matters too. If you work in a job that's a bit risky, like construction or mining, your payments could be a tad higher. It's because these jobs have some extra dangers.


Fun hobbies like skydiving or racing are cool! But they can make your payments go up too. We just need to know what kind of adventures you're into.


In some cases, your gender can make a difference. Historically, women often had lower payments because they usually live longer and have fewer health issues. But things are changing, and the gap between men's and women's payments is getting smaller.

Frequently asked questions
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Let’s play a rapid-fire round to get more information about the ACKO Life Flexi Term Plan.


What is the minimum policy term of ACKO Life Flexi Term Plan?

The minimum policy term for this plan is 5 years.

Will I get a freelook period with this plan?

Yes, you get a freelook period of 15 days on your ACKO Life Flexi Term Plan.

In case I miss a premium payment, will I get a grace period?

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.

What is a nominee and can I have multiple nominees for my Plan?

A 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 Life Flexi Term Plan where they will receive percentage-wise payouts of the sum assured as per your instructions. 

Is KYC (Know Your Customer) required to buy ACKO Life Flexi Term Plan?

Yes, you must complete the KYC process to buy term insurance from ACKO.

What are endorsements and are they allowed under ACKO Life Flexi Term Plan?

Endorsements are requests you can make to change a few things in your term insurance plan after you buy the policy. You can request endorsements for the following under your ACKO Life Flexi Term Plan.

  • You can add, delete, or edit the nominee's 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 plans, services, features, processes, and other details mentioned on this page are subject to availability and changes. Please check the applicable policy wording before making any insurance-related decisions. Feel free to reach out to us at for any queries.