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Overview
Acko Life Insurance Flexi Term Plan offers flexible life cover with customizable payout options. You can adjust the sum assured and benefits as your needs change. This allows you to shape the plan around your changing goals, such as loans, education, and long-term security. You can also change how much money your family will receive in your absence.
Key Benefits of Acko Life Flexi Term Plan
- Flexible Sum Assured and Policy Tenure
- Affordable Premiums
- Special Exit Value
- Easy and Convenient
- Flexi Benefits
- Optional Rider Benefits
Riders You Can Avail With Acko Flexi Term Plan
You can choose the following riders with your Acko Flexi Term Insurance Plan to enhance your plan coverage:
Acko Life Critical Illness Rider
If the policyholder is diagnosed with critical illnesses, the rider benefits are paid.
ACKO Life Accidental Total Permanent Disability Benefit Rider
This rider offers benefits if the policyholder suffers total permanent disability due to an accident.
ACKO Life Accidental Death Benefit Rider
If the policyholder suffers death due to an accident, rider benefits are paid to the nominee.
Plan Features
Flexible Sum Assured
The Acko Flexi Term Plan allows you to increase your sum assured once a year and decrease it after 3 years of policy tenure. Adjustments can be made annually thereafter.
Policy Term
You can increase your policy term once a year and decrease it after 5 years, based on your desired coverage duration.
Grace Period
The grace period for premium payment is 15 days for monthly premiums and 30 days for other payment frequencies. The grace period does not apply to single-pay policies.
Payout Options
This option allows you to control how the policy's sum assured will be paid to your nominee. You can choose between partial monthly payments or a one-time full payment for claim settlement.
Exclusions
- Policies sold through POS personnel have a 90-day waiting period. If the policyholder passes away during this period, no death benefits are paid; only premiums paid to date (excluding GST) will be returned to the nominee.
- Policy loans are not available under this plan, except for ROP, Early ROP, and Whole Life variants.
- Suicide is covered after the completion of the first policy year.
Additional Benefits
Guaranteed Death Benefits
Acko Flexi Term Insurance Plan offers guaranteed death benefits to your loved ones in case anything unfortunate happens to you.
Tax Benefits
This plan is eligible for tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Will Creation Services
This plan helps you create your will so that you are clear where your assets will go.
Additional Rider Benefits
This plan allows you to choose additional riders with your term insurance plan that helps to increase your coverage.
Flexi Benefit
The flexibility to customise coverage throughout the policy period. You can easily increase or decrease your sum assured and policy tenure.
