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.
Life Cover Starting @ just ₹18/day*
Choose India’s Only Personalised Term Plan
Modify coverage as per your life stages & commitments
Hassle-Free Claim Settlement
99.38% Claim settlement ratio*
Smart Income Tax Savings
Save up to ₹54,600* on your taxes
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.
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!
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.
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!
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.
You get the following benefits with your ACKO Life Flexi Term 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. 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.
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.
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
The sum assured is the amount your family will receive if you pass away during the policy period. You can increase it (once a year) and decrease it after 3 years of policy tenure. You can adjust every year post that.
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.
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.
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 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.
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:
| ✔️ Cancer of Specified Severity | ✔️ Myocardial Infarction (First Heart Attack Of Specific Severity) |
| ✔️ Open Chest CABG | ✔️ Open Heart Replacement Or Repair Of Heart Valves |
| ✔️ Coma Of Specified Severity | ✔️ Kidney Failure Requiring Regular Dialysis |
| ✔️ Stroke Resulting In Permanent Symptoms | ✔️Major Organ /Bone Marrow Transplant |
| ✔️ Permanent Paralysis Of Limbs | ✔️ Motor Neuron Disease With Permanent Symptoms |
| ✔️ Multiple Sclerosis With Persisting Symptoms | ✔️ Benign Brain Tumor |
| ✔️ Blindness | ✔️ Deafness |
| ✔️ End Stage Lung Failure | ✔️ End Stage Liver Failure |
| ✔️ Loss Of Speech | ✔️ Loss Of Limbs |
| ✔️ Major Head Trauma | ✔️ Primary (Idiopathic) Pulmonary Hypertension |
| ✔️Third Degree Burns | |
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.
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.
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 like health status, lifestyle habits, hobbies, etc. can also impact your eligibility.
Your nominees can quickly raise a claim by submitting the required documents to our support email [email protected] 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.
Let’s play a rapid-fire round to get more information about the ACKO Life Flexi Term Plan.
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 [email protected] for any queries.
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Reviewed by Vaibhav Kumar Kaushik 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
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