Frequently Asked Questions!

Life insurance is a financial plan that gives a lump sum or regular payment or the promised sum assured to your family or nominee when the policy matures or if the policyholder passes away unexpectedly. It helps secure your family’s financial future.

IndusInd Nippon Life Insurance (INLIC) provides personalized life insurance plans with flexible options, competitive prices, and a reliable claim settlement ratio of 98.9%. We have a network of over 700+ branches across India and more than 68,000+ advisors.

You can choose from term plans, endowment plans, Unit Linked Plans (ULIPs), retirement plans, and child education plans to fit your financial goals and protection needs.

You can purchase policies online through our website, visit any IndusInd Nippon Life branch or give us your contact details so that we can reach out to you to help you make an informed decision.

You can make payments and manage your policy online, INLIC Customer Connect App For Android and For iOS), at INLIC branches, or through our 24x7 WhatsApp bot – NOVA.

Review your policy every year or during major life events such as marriage, birth, or job changes. Update contact and nominee details whenever changes occur

You are given a grace period. If you do not pay during that time, the policy may lapse or continue with reduced benefits according to the terms.

Yes, premiums are eligible for tax benefits under section 80C and maturity proceeds under section 10(10D) according to Indian tax laws*.

*Tax laws are subject to change from time to time. Consulting a tax expert is advisable.

Medical tests may be required based on age, policy amount, and plan type. Some plans do not need a medical test.

The coverage amount depends on your income, debts, family expenses, and future goals. Online calculators can help estimate your needs

Yes, you can own several policies for different protections or higher coverage.

Yes, you can adjust payment methods like monthly, quarterly, or annually according to policy rules. For more details, please read the product brochure and policy documents carefully.

Certain situations, such as suicide in the first year, war, or self-inflicted injuries, may be excluded based on policy terms. For more details, please read the product brochure and policy documents carefully.

You can check online, through the INLIC Customer Connect mobile app for Android and for iOS, customer care number 1800 102 1010, or branch visits with your policy or customer ID

Bonuses depend on the insurer’s profits and policy type and are either added to the sum assured or paid periodically.

This is the amount you receive if you cancel your policy before it matures, which is usually less than the total premiums paid.

This is the minimum amount guaranteed after a few years, calculated as a fixed percentage of premiums paid, excluding the first year.

This is a higher payout when you surrender your policy, which includes bonuses and the values of paid-up policies.

This is a policy that remains active with a reduced sum assured after you stop paying premiums.

This is the extra time after the due date to pay premiums without the policy lapsing.

Policy riders are optional add-ons to your main life insurance that provide extra coverage for specific risks, such as critical illness or accidental death, for an additional premium. They allow you to customize your policy to protect against unforeseen events without needing to buy a separate plan.

This is the guaranteed death or maturity payout specified in your policy.

This is the amount paid if the insured survives the policy term.

Bonuses are based on insurer profits and policy terms. They can be added as cash or an increased sum assured.

You can submit nomination forms online, at a branch, or through customer service to designate beneficiaries.

Generally, proceeds are tax-free, but you should check current tax laws for specifics*.

*Tax laws are subject to change from time to time. Consulting a tax expert is advisable.

This ratio is the percentage of claims the insurer pays. A higher ratio indicates trustworthiness.

Some plans may offer cashback, loyalty additions, or discounts on premiums, but freebies like free trips, high Return on Investment in a short time, or gifts are never a part of an insurance policy. Beware of any such offers, and if you have any questions, feel free to email us at customerservice@indusindnipponlife.com.

Term insurance provides pure risk cover for a fixed period with no maturity benefit if you survive the term. Life insurance is a broader category that includes term plans, endowment plans, ULIPs and savings plans, many of which offer both protection and a maturity payout.

If you become an NRI after purchasing a policy in India, your existing policy generally continues. INLIC also offers dedicated NRI plans for non-resident Indians looking to protect their families back home.

Yes. You can purchase select IndusInd Nippon Life Insurance plans entirely online through our website. Plans like INL Super Suraksha Term Plans, INL Classic Plan II and INL Nishchit Pension are available for online purchase with up to 15% discount on premiums.

A Unit Linked Insurance Plan (ULIP) combines life insurance with market-linked investments. Unlike traditional plans with guaranteed returns, ULIPs allow you to invest in equity, debt or hybrid funds while maintaining life cover. Returns depend on market performance.

The minimum entry age is typically 18 years for most plans. The maximum entry age varies by plan, for term plans it can go up to 65 years. Specific eligibility criteria differ by product, so check individual plan details on our website.

IndusInd Nippon Life Insurance aims to settle death claims within a defined turnaround time as per IRDAI guidelines. You can track your claim status online, through the INLIC Customer Connect App For Android and For iOS, or by calling our toll-free number 1800 102 1010.

Typically required documents include the original policy document, claimant's identity and address proof, death certificate (for death claims), hospital records if applicable, and a filled claim form. Complete document requirements are available on our IndusInd Nippon Life Insurance claims page.

The free look period is a 30-day window after receiving your policy document during which you can review the terms and return the policy for a full refund if unsatisfied — no questions asked. This is mandated by IRDAI for all life insurance policies.

Yes, certain life insurance policies allow you to take a loan against the surrender value. This is available after the policy acquires a surrender value, typically after 3 years of premium payment. Loan terms vary by plan.

Sum assured is the guaranteed amount paid to the nominee in a life insurance policy upon death or maturity. Sum insured is a term used in general or health insurance for the maximum reimbursement limit. These terms are often confused but refer to different products.

IRDAI — the Insurance Regulatory and Development Authority of India — is the statutory regulator of India's insurance sector, established under the IRDAI Act, 1999, enacted by Parliament. It oversees insurers, brokers, and intermediaries; safeguards policyholder interests; mandates solvency margins; enforces transparency; and fosters fair competition and innovation. 

A lapsed policy can usually be revived within a specific revival period by paying all overdue premiums along with applicable interest and submitting a declaration of good health. Contact IndusInd Nippon Life customer service or visit your nearest branch for revival assistance.

An annuity plan is a retirement product where you invest a lump sum or pay premiums over time in exchange for regular income payments — monthly, quarterly or annually — after retirement. IndusInd Nippon Life offers multiple annuity options including single life, joint life and return of premium variants.