ACKO enters life insurance market with Flexi Term Life Insurance Plan

ACKO term life plan provides customers with flexibility by incorporating the changes in coverage amount or tenure as per the need

ACKO Tech, the parent company of ACKO General Insurance, has announced its expansion into the life insurance sector with the launch of ACKO Life Insurance. The company's debut offering is ACKO Flexi Term Life Insurance Plan.

Key features of the ACKO Flexi Term Plan:

Customisable coverage: Policyholders can increase or decrease the coverage amount as their financial responsibilities shift over time, ensuring appropriate protection at every life stage.

Adjustable policy duration: The plan allows flexibility in adjusting the policy’s tenure, catering to both short-term needs and long-term coverage goals.

Flexible riders: Customers can add or modify riders, such as critical illness or accidental death coverage, tailoring the policy to their specific needs.

Digital will feature: The plan includes a digital will service, enabling customers to create, update, and store their will online for secure and legally recognised protection.

Customisable payout options: Policyholders can choose from a lump sum, monthly instalments, or annuities and even switch between options during the policy term or claim process to best fit their financial needs.

“We wanted customers to look at life insurance not as a means of investment, but as pure-play protection for them and their families. Our focus going forward will continue to be on pure-protection related products such as the term life product that we have launched recently,” said Varun Dua, Founder, ACKO.