INL Nishchit Ace

IndusInd Nippon Life Nishchit Ace is a non-linked, non-participating individual savings life insurance plan that provides both life insurance protection and guaranteed returns.

- You are required to pay the premiums for the chosen Premium Payment Term.

- From the end of 11th policy year, the plan will payout Annual Income which is guaranteed during the whole Income Period. The Annual Income will increase at a simple rate of 20% every 5th year

- At the end of the Policy Term, a lumpsum benefit will be paid to you and your policy will be terminated.

- The Premium Payment Terms available under the plan are 5, 6, 7, 8 and 10 years.

- The Income Periods available are 15, 20, 25 and 30 years.

In case of the unfortunate death of the Life Assured during the Policy Term, provided the Policy is In-force for full benefits i.e. all due premiums have been paid, the following lump sum Benefit shall be payable immediately to the Claimant(s):

Higher of:

- Sum Assured on Death; and

- Death Benefit Factor multiplied by Total Premium Paid as on the date of death of the Life Assured

Where Sum Assured on Death is higher of 11 times Annualized Premium and Base Sum Assured. Kindly refer the plan’s Brochure for Death Benefit Factor. Apart from the above, the Claimant(s) also shall receive outstanding balance, if any, in the Flexi Wallet.

Flexi Wallet is a customized feature where you have an option to accumulate the Annual Income in Flexi-wallet instead of availing the same as a periodic payment during the Income Period. The amount in the Flexi Wallet will also earn interest and the same will be credited at the end of each month. At any time, you have an option to withdraw, completely or partially, the balance in the Flexi Wallet. You can opt-in opt-out of this feature anytime during the Policy Term.