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Acko Life Insurance Company
Acko Life Insurance Company
Acko Life Insurance is an innovative insurer in India, offering a range of life insurance products. With a ...Read More
What you get with Acko Life Insurance Company
The headline features and policy mechanics, at a glance.
Annual Premium 36.52 crores
Affordable premium options starting from entry-level to comprehensive whole-life protection.
99.38% claim settlement ratio
Industry-leading approval rate on eligible life insurance claims in the most recent fiscal year.
2.36x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
3+ optional riders
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
Acko Life Insurance: Overview
Acko Life Insurance was founded by Varun Dua, who previously co-founded Coverfox, an early Indian insurance broking firm. He recognized gaps in the traditional insurance industry, particularly the complexity and reliance on intermediaries, and envisioned a digital-first approach to insurance. Acko is one of the most trusted insurance companies in India, offering various life insurance products, including term insurance, savings plans, and much more.
Acko Life Insurance offers:
- Adaptable Sum Assured
- Flexible Policy Tenure
- Will Creation Service
- Easy and Convenient Processes
- Affordable Premiums
Features of Acko Life Insurance Plans
Affordable premiums, making them accessible to a wide range of customers.
Flexible policy tenures, allowing policyholders to choose as per their requirements.
Grace period for missed premium payments: 15 days for monthly payments and 30 days for quarterly, half-yearly, and yearly payments.
Policyholders can choose premium payment frequency from monthly, quarterly, half-yearly, and yearly options.
Insurance products available for individuals of all age groups.
Waiting Periods in Acko Life Insurance Plans
Unlike health insurance, life insurance plans generally do not have a waiting period for death benefits. However, certain clauses apply:
- Suicide Clause: If the policyholder commits suicide within 12 months from the policy's inception or revival date, the nominee will typically receive only the premiums paid or the surrender value, whichever is higher. No death benefit is paid.
- Contestability Period: Most life insurance policies have a contestability period, usually 2-3 years. During this period, the insurer can investigate claims and deny them if material misrepresentations or fraud are found in the application.
It is advisable to review the specific policy document for detailed terms and conditions regarding waiting periods and clauses.
Riders You Can Avail With Acko Life Insurance Company Plans
Enhance your life plan with optional add-on riders for broader protection.
Acko Accidental Death Benefit Rider
Offers an additional sum assured if the policyholder dies due to an accident.
Acko Life Accidental Total Permanent Disability Benefit Rider
Provides the sum assured if the policyholder becomes partially or totally disabled due to an accident.
Acko Life Critical Illness Benefit Rider
Pays the rider benefit if the policyholder is diagnosed with any critical illness mentioned in the policy brochure.
Documents required
For policy purchase and claim submission. Have these ready before you start.
Photo ID Proof Any one
Passport, Aadhaar card, PAN card, Driving license.
Age Proof Any one
Passport, Aadhaar card, PAN card, Driving license.
Address Proof Any one
Utility bill, passport, voter ID, ration card.
Medical Records If requested.
Income Proof Any one
Bank statement, last three months' salary slips (for salaried individuals).
How to Buy a Acko Life Insurance Company Plan?
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
- Visit the PolicyX.com website or the Acko Life Insurance Company official website to compare and choose a suitable life plan.
- Enter your personal details such as name, date of birth, gender, annual income, and smoking status to get a customised quote.
- Compare plan options — choose your sum assured, policy term, premium payment term, and any optional riders.
- Fill in the proposal form with your contact details, nominee information, and medical history accurately.
- Upload the required documents: identity proof, address proof, income proof, and recent photographs.
- Pay the first premium online via net banking, UPI, debit/credit card, or cheque.
- Complete the medical examination if required (depends on your age and sum assured).
- Receive your policy document via email and registered post after underwriting approval.
How to File an Acko Life Insurance Claim?
Every claimant/nominee is assigned a dedicated Claims Relationship Officer to assist through the entire process. Acko Life Insurance's claim settlement process involves the following steps:
Online Process
1. Claim Intimation
Inform the company about the incident via various available channels. You can file a claim by calling 1800-210-1992. A claim reference/intimation number will be provided upon successful registration.
2. Document Submission
The following documents are required to process the claim:
- For natural death: death claim form, death certificate issued by the local municipality, original policy documents, claimant's identity and residence proof, medical records, and nominee's account details.
- For accidental death: the same documents, along with an FIR and post-mortem report.
3. Claim Settlement
After receiving all documents and claim forms, the insurer will verify the details. If additional information is required, they will contact you via call or email. Upon successful verification, the claim will be settled, and the amount transferred to the nominee's bank account, with communication via call or email.
Offline Process
Acko Life Insurance Company's claim settlement procedure can be initiated by visiting a local Acko Life Branch Office. You can visit their website to locate the nearest Acko Life Insurance branch. Submit the required documents in hard copy at your nearest branch to file the claim.
- Log in to the Acko Life Insurance Company customer portal or the PolicyX.com dashboard before your policy renewal date.
- Review your existing policy details — coverage, premium amount, and nominee information.
- Choose to continue with the same plan or upgrade your sum assured if eligible.
- Pay the renewal premium online via net banking, UPI, debit/credit card, or cheque.
- Download the renewed policy document from your registered email or the insurer portal.
- Visit the official Acko Life Insurance Company website.
- From the top of the page, choose the desired plan type (e.g., Term plan, Investment plan, ULIPs).
- A new window will open. Enter your basic details, including name, contact number, email address, occupation, and residence details.
- The premium amount will be displayed based on the provided details.
- Upon successful payment, a confirmation will be sent to your registered email address.
What's covered — and what's not
The standard inclusions and exclusions across Acko Life Insurance Company plans. Specific plans may add benefits — always check the policy wording before purchase.
✗ Exclusions
- Death due to any pandemic, such as COVID-19.
- Death caused by indulging in adventure sports.
- Death due to consumption of drugs or alcohol.
- Death due to any pre-existing disease not declared at policy inception.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to the nominee. Only the premiums paid up to the date of the incident or the surrender value of the policy, whichever is higher, will be paid.
Conclusion
Acko Life is a reputed life insurer with a high claim settlement ratio of 99.38%. It offers a wide range of insurance products, including term plans, ULIPs, child insurance plans, and savings plans, to meet the needs of every individual. For more information related to Acko Life Insurance Company, you can visit https://www.policyx.com, or call us at 1800-420-0269. Our insurance experts will understand your requirements and help you choose a plan that best suits your needs.
Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanFrequently asked questions
The 6 most-asked questions about Acko Life Insurance Company, answered.
Customer satisfaction
Aggregate ratings from 58 verified PolicyX customers who bought a Acko Life Insurance Company plan.
Life Insurance Articles
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PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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