INL Nishchit Samrudhi Plus

The IndusInd Nippon Life Nishchit Samrudhi Plus is a Non-Linked Non-Participating Individual Saving Life Insurance Plan that offers unmatched flexibility and financial security. With INL Nishchit Samrudhi Plus, you have the unique advantage of accumulating your income benefits in a convenient Flexi-Wallet, allowing you to customize your savings strategy according to your specific needs. You have full freedom to withdraw money from the Flexi-Wallet whenever you require, ensuring complete control over your finances.

In case of an unfortunate death of the Life Assured provided the Policy is In-force i.e., all due premiums have been paid as on the date of death, the Claimant(s) shall receive higher of:

• Sum Assured on Death; or
• Death Benefit Factor multiplied by Total Premiums Paid as on the date of death of the Life Assured

Apart from the above, the Claimant(s) also shall receive outstanding balance, if any, in the Flexi Wallet.
Where, the Sum Assured on Death is defined as an amount equal to 11 times the Annualized Premium.

Death Benefit Factor:

Death Benefit for Minor Life:
If age at entry of the Life Assured is greater than or equal to 8 years, the risk will commence immediately from the Date of Commencement of Policy. If Age at entry of the Life Assured is less than 8 years, the risk under the Policy will commence either from the last day of the second Policy Year or from the Policy Anniversary date falling immediately after attainment of 8 years of age, whichever is earlier. If the Age at entry of the Life Assured is less than 8 years and the death happens before the Date of Commencement of Risk, the Death Benefit shall be restricted to the Total Premiums Paid. The Policy will terminate on payment of the Death Benefit to the Claimant(s).

The Guaranteed Annual Income (GAI) shall be payable on survival of the Life Assured at the end of every policy year during the Income Period, provided the Policy is In-force i.e., all due premiums have been paid. The GAI at the start of Income Period shall be equal to GAI rate multiplied by Annualized Premium and the GAI shall increase every year at a simple rate of 5% per annum.
Please refer to Sales Brochure for sample GAI Rates.

Deferment Period (DP) is the period commencing from the end of Premium Payment Term (PPT) till the start of Income Period (IP). Under Nishchit Samrudhi Plus Plan policyholder has an option to choose Deferment Period of 0/1/2 years.

Income Period is the period during which Survival Benefit is payable. It will commence from the end of Premium Payment Term plus Deferment Period till end of the Policy Term. Under Nishchit Samrudhi Plus Plan policyholder has an option to choose Income Period of 10/15/20/25/30 years depending upon the Premium Payment Term chosen.