{"uin":"121L146V02","name":"IndusInd Nippon Life Wealth and Insurance Plan","url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02","insurer":{"slug":"indusind-nippon-life-insurance","name":"IndusInd Nippon Life Insurance Company Limited","url":"https://indiainsurances.com/insurer/indusind-nippon-life-insurance"},"line":"life","category":"ulip","category_name":"ULIPs (unit-linked plans)","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"IndusInd Nippon Life Wealth and Insurance Plan is a unit linked, non-participating, individual life insurance savings plan with a policy term of 85 years minus entry age. It pays maturity benefit as fund value and death benefit as the higher of base sum assured net of deductible partial withdrawals, fund value, or 105% of total premiums paid.","analysis":{"state":"machine","analysed_at":"2026-10-20 00:49:36.464365+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"85 years minus entry age.","display":"85 years minus entry age","note":"From the sales brochure.","quote":"Policy Term | 85 years minus entry age","sources":[{"clause":null,"heading":"Boundary Conditions","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-boundary-conditions"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["Death due to suicide, whether sane or insane, within 12 months from the date of commencement of Policy or from the date of revival of the Policy: nominee/claimant is entitled to Fund Value as on the date of intimation of death."],"display":"Suicide within 12 months: Fund Value as on the date of intimation of death is payable.","note":null,"quote":"In case of death of the Life Assured due to suicide, whether sane or insane, within 12 months from the date of commencement of Policy or from the date of revival of the Policy, the nominee/claimant of the policyholder shall be entitled to Fund Value, as on the date of intimation of death.","sources":[{"clause":null,"heading":"Suicide Exclusion","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-suicide-exclusion"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"You can contact the company by email, by writing to its registered and corporate office addresses, or by contacting the customer service executive at the nearest branch. The brochure also points to the grievance redressal page on the company's website.","display":"Email customerservice@indusindnipponlife.com, write to the registered/corporate office, or contact the nearest branch customer service executive.","note":null,"quote":"You can contact the company by sending an email at: customerservice@indusindnipponlife.com or by writing to us at our:\nRegistered & Corporate Office address: IndusInd Nippon Life Insurance Company Limited, Unit Nos. 401B, 402, 403 & 404, 4th Floor, Inspire-BKC, G Block, BKC Main Road, Bandra Kurla Complex, Bandra East, Mumbai - 400051 OR IndusInd Nippon Life Insurance Company Limited 7th Floor, Silver Metropolis, Off Western Express Highway, Goregaon East, Mumbai - 400 063; OR Contact Our Customer Service Executive at Your nearest branch of the Company. For more details please visit Grievance Redressal page on our website: www.indusindnipponlife.com/querygrievance-redressal","sources":[{"clause":null,"heading":"Grievance Redressal Process","page":18,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-grievance-redressal-process"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"Minimum sum assured is ₹17,50,000 for entry age 18 to 45 years, ₹10,00,000 for entry age 46 to 50 years, and ₹2,50,000 for entry age 51 to 60 years. Maximum is no limit, subject to Board Approved Underwriting Policy.","display":"Minimum ₹17,50,000 / ₹10,00,000 / ₹2,50,000 by entry age; maximum no limit, subject to Board Approved Underwriting Policy.","note":"From the sales brochure.","quote":"Sum Assured | Minimum: Entry Age Sum Assured 18 to 45 years ₹17,50,000 46 to 50 years ₹10,00,000 51 to 60 years ₹2,50,000 Maximum: No Limit, subject to Board Approved Underwriting Policy","sources":[{"clause":null,"heading":"Boundary Conditions","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-boundary-conditions"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"If the life assured dies while the policy is in force, the benefit payable is the higher of base sum assured net of deductible partial withdrawals, fund value as on the date of intimation of death, or 105% of total premiums paid. On payment of the death benefit, the policy terminates and no other benefit is payable.","display":"Higher of base sum assured net of deductible partial withdrawals, fund value as on death intimation, or 105% of total premiums paid.","note":"For policies where Base Sum Assured is greater than 10 times Annualized Premium, it reduces to 10 times Annualized Premium from the policy anniversary immediately after age 65 till the end of the policy term.","quote":"In an unfortunate event of death of the Life Assured, provided the Policy in-force, the following benefit will be payable:\nHigher of:\n• Base Sum Assured net of all ‘Deductible Partial Withdrawals’, if any; or\n• Fund Value as on the date of intimation of death; or\n• 105% of the Total Premium(s) Paid ... On payment of the Death Benefit, the Policy shall terminate, and no other Benefit shall be payable.","sources":[{"clause":null,"heading":"Benefits in Detail","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-benefits-in-detail"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"On survival of the life assured till the end of the policy term, the maturity benefit payable is equal to the fund value of the policy.","display":"Fund value of the policy on survival to the end of the policy term.","note":null,"quote":"On survival of the Life Assured till the end of the Policy Term, the Maturity Benefit equal to the fund value of the policy will be payable.","sources":[{"clause":null,"heading":"Benefits in Detail","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-benefits-in-detail"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"For premium below ₹1,00,000, premium payment terms are 7, 8, 10, 12, 15 and 20 years. For premium of ₹1,00,000 or more, premium payment terms are 5, 6, 7, 8, 10, 12, 15 and 20 years.","display":"7, 8, 10, 12, 15 and 20 years for premium < ₹1,00,000; 5, 6, 7, 8, 10, 12, 15 and 20 years for premium >= ₹1,00,000.","note":"From the sales brochure.","quote":"Premium Payment Term | (For Premium < 1,00,000) 7, 8, 10, 12, 15 and 20 years | For Premium >= 1,00,000 5, 6, 7, 8, 10, 12, 15 and 20 years","sources":[{"clause":null,"heading":"Boundary Conditions","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-boundary-conditions"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"The maturity age is 85 years.","display":"85 years","note":"From the sales brochure.","quote":"Maturity Age | 85 years","sources":[{"clause":null,"heading":"Boundary Conditions","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-boundary-conditions"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If the life assured dies due to suicide, sane or insane, within 12 months from policy commencement or revival, the nominee or claimant is entitled to the fund value as on the date of intimation of death. Charges other than fund management charges recovered after the date of death are paid back along with the fund value.","display":"Suicide within 12 months: Fund Value as on death intimation, plus pay-back of charges other than fund management charges recovered after death.","note":null,"quote":"In case of death of the Life Assured due to suicide, whether sane or insane, within 12 months from the date of commencement of Policy or from the date of revival of the Policy, the nominee/claimant of the policyholder shall be entitled to Fund Value, as on the date of intimation of death.\nAny charges other than fund management charges recovered subsequent to the date of death will be paid-back to nominee/claimant or beneficiary along with the Fund Value, as available on the date of intimation of death.","sources":[{"clause":null,"heading":"Suicide Exclusion","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-suicide-exclusion"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"On surrender during the lock-in period, fund value after applicable discontinuance charge is moved to the discontinued policy fund, risk and rider cover cease, and proceeds are payable on completion of the lock-in period. On surrender after the lock-in period, fund value is payable immediately and the policy terminates.","display":"During lock-in: fund value after discontinuance charge goes to Discontinued Policy Fund and is payable after lock-in; after lock-in: fund value payable immediately.","note":"If the life assured dies before the end of the lock-in period after surrender, the discontinued policy fund proceeds are payable immediately.","quote":"On Surrender during the Lock-in Period, the Fund Value, after deduction of applicable Discontinuance Charge, shall be transferred to the Discontinued Policy Fund and risk cover and rider cover, if any, shall cease. The proceeds from the Discontinued Policy Fund shall be payable on the completion of the Lock-in Period and the Policy shall terminate. ... On Surrender after the Lock-in Period, Fund Value is payable immediately and the Policy terminates.","sources":[{"clause":null,"heading":"Surrender","page":12,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-surrender"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"After the lock-in period, if due premium is not paid within the grace period, the policy is converted into a reduced paid-up policy. Paid-up sum assured equals prevailing base sum assured at the time of paid-up multiplied by total number of premiums paid divided by the original number of premiums payable.","display":"After lock-in, non-payment converts the policy to reduced paid-up; paid-up sum assured = prevailing Base Sum Assured × premiums paid / original premiums payable.","note":"Within the lock-in period, on premium discontinuance after grace period, risk cover and rider cover cease and fund value after discontinuance charge is credited to the Discontinued Policy Fund.","quote":"Discontinuance of Policy after the Lock-in Period If due Premium has not been paid, within the Grace Period, the Policy shall be converted into a reduced Paid-up Policy with the Paid-up sum assured. Paid-up sum assured is equal to prevailing Base Sum Assured at the time of Paid-up multiplied by the total number of premiums paid divided by the original number of premiums payable as per the terms and conditions of the Policy.\nThe Policy shall continue to be in reduced Paid-up status without rider cover (if any).","sources":[{"clause":null,"heading":"Premium Discontinuance","page":9,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-premium-discontinuance"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A discontinued policy may be revived within a revival period of three consecutive complete years from the date of the first unpaid premium.","display":"3 consecutive complete years from the date of the first unpaid premium.","note":null,"quote":"The Policyholder may revive the Policy within the Revival Period of three consecutive complete years from the date of the first unpaid Premium.","sources":[{"clause":null,"heading":"Policy Revival","page":12,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-policy-revival"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Policy loan facility is not available under the plan.","display":"Not available.","note":null,"quote":"Policy Loan facility is not available under the plan.","sources":[{"clause":null,"heading":"Policy Loan","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-policy-loan"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"quote-verified","value":["IndusInd Nippon Life Critical Illness Plus Rider","IndusInd Nippon Life Indus CI Plus Rider"],"display":"IndusInd Nippon Life Critical Illness Plus Rider; IndusInd Nippon Life Indus CI Plus Rider.","note":"Only one of the above riders can be selected.","quote":"We offer following rider options to help you enhance your protection:\n• IndusInd Nippon Life Critical Illness Plus Rider This rider provides you with a lump sum benefit on diagnosis of any one of the covered critical illnesses.\n• IndusInd Nippon Life Indus CI Plus Rider This rider provides you with a lump sum benefit on diagnosis of any one of the covered critical illnesses.","sources":[{"clause":null,"heading":"Riders","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-riders"}],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"No life insurance policy can be called in question on any ground after three years from the later of policy issuance, commencement of risk, revival, or rider date. Within three years, it may be questioned for fraud or material misstatement or suppression, with grounds and materials communicated in writing.","display":"Cannot be questioned after 3 years; within 3 years may be questioned for fraud or material misstatement/suppression with written grounds.","note":null,"quote":"No Policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the Policy, i.e., from the date of issuance of the Policy or the date of commencement of risk or the date of revival of the Policy or the date of the rider to the Policy, whichever is later. ... A Policy of life insurance may be called in question at any time within three years from the date of issuance of the Policy or the date of commencement of risk or the date of revival of the Policy or the date of the rider to the Policy, whichever is later, on the ground of fraud: ... A Policy of life insurance may be called in question at any time within three years from the date of issuance of the Policy or the date of commencement of risk or the date of revival of the Policy or the date of the rider to the Policy, whichever is later, on the ground that any statement of or suppression of a fact material to the expectancy of the life of the insured was incorrectly made","sources":[{"clause":"1","heading":null,"page":19,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-1-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"quote-verified","value":"Premiums paid under the plan may be eligible for tax exemptions, subject to applicable tax laws and conditions. Income tax benefits are as per prevailing Income Tax Laws and may change; the brochure asks the customer to consult a tax expert.","display":"Premiums may be eligible for tax exemptions, subject to applicable tax laws and conditions.","note":null,"quote":"Premiums paid under IndusInd Nippon Life Wealth and Insurance Plan may be eligible for tax exemptions, subject to the applicable tax laws and conditions. Income tax benefits under this plan shall be applicable as per the prevailing Income Tax Laws and are subject to amendments from time to time. Kindly consult a tax expert.","sources":[{"clause":null,"heading":"Tax Benefit","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-tax-benefit"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":null,"quote":"You are provided with free look period of 30 days beginning from the date of receipt of policy document, whether received electronically or otherwise, to review the terms and conditions stipulated in the policy document.","sources":[{"clause":null,"heading":"Free look period","page":18,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-free-look-period"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"For monthly frequency, the grace period is 15 days.","quote":"There is a grace period of 30 days from the due date for payment of premium. In case of monthly frequency, the grace period is of 15 days. During this period the Policy is considered to be in force with the risk cover as per the terms & conditions of the Policy.","sources":[{"clause":null,"heading":"Grace period for payment of premiums","page":17,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-grace-period-for-payment-of-premiums"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum entry age is 18 years and maximum entry age is 60 years. For premium payment term of 20 years, the maximum entry age is 55 years.","display":"Minimum 18 years; maximum 60 years. For PPT 20 years, maximum entry age 55 years.","note":"From the sales brochure. Ages are based on age last birthday.","quote":"Minimum: 18 years\nEntry Age | Maximum: 60 years\nFor PPT 20 years, the maximum entry age is 55 years","sources":[{"clause":null,"heading":"Boundary Conditions","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-boundary-conditions"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Yearly","Half-yearly","Quarterly","Monthly"],"display":"Yearly, Half-yearly, Quarterly and Monthly.","note":"Quarterly and Monthly frequencies are allowed only if payment is made electronically; for Monthly at issuance, the first two months premium is collected at issuance.","quote":"The available frequency of premium payment are Yearly, Half-yearly, Quarterly and Monthly. Quarterly and Monthly frequencies are allowed only if the payment is made electronically. If the Monthly frequency is chosen at the time of issuance, first two months premium will be collected at the time of issuance of the Policy.","sources":[{"clause":null,"heading":"Premium payment frequency","page":17,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-premium-payment-frequency"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Limited premium"],"display":"Limited premium: premium payment terms of 5, 6, 7, 8, 10, 12, 15 and 20 years depending on premium.","note":"The brochure gives a policy term running to age 85 and separate shorter premium payment terms; it does not use the words “Limited premium”.","quote":"Policy Term | 85 years minus entry age\nPremium Payment Term | (For Premium < 1,00,000) 7, 8, 10, 12, 15 and 20 years | For Premium >= 1,00,000 5, 6, 7, 8, 10, 12, 15 and 20 years","sources":[{"clause":null,"heading":"Boundary Conditions","page":4,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-boundary-conditions"}],"law":[]},{"key":"lock_in","label":"Lock-in period","section":"Renewal and rights","meaning":"Years before you can withdraw. ULIPs have a 5-year lock-in.","status":"quote-verified","value":{"unit":"years","amount":5},"display":"5 years","note":null,"quote":"The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.","sources":[{"clause":null,"heading":null,"page":1,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-s1"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 42","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 54.1 and 54.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.5","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.22 to 1.24","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vii) to (ix)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"funds","label":"Fund options","section":"Cover","meaning":"The investment funds you can choose and their risk.","status":"quote-verified","value":["Life Large Cap Equity Fund - High","Life Equity Fund 3 - High","Life Pure Equity Fund 2 - High","Make in India Fund - High","Life Balanced Fund 1 - Low to Moderate","Life Corporate Bond Fund 1 - Low to Moderate","Life Midcap Fund 2 - High","Life Viksit Bharat Multifactor 50 Index Fund - High","Life Bharat Value 50 Index Fund - High","Life Money Market Fund 1 - Low"],"display":"10 funds: seven High risk, two Low to Moderate risk, and one Low risk.","note":null,"quote":"The plan offers ten fund options, You can select between these funds in any proportion as per your choice. ... Life Large Cap Equity Fund (SFIN: ULIF07101/12/19LLA RGCAPEQ121) | To generate consistent long-term performance through exposure to predominantly large cap equities ... | High | Debt Securities ... Life Equity Fund 3 (SFIN:ULIF04201/01 /10LEQUITYF03121) | Provide high real rate of return ... The risk appetite is ‘high’ | High | Money market instruments ... Life Pure Equity Fund 2 (SFIN:ULIF04601/ 01/10LPUEQUTY0 2121) | The investment objective of the Pure Equity fund is to provide Policyholders high real rate of return ... The risk appetite is ‘high’ | High | Money market instruments ... Make in India Fund (SFIN: ULIF06924/03/1 5LMAKEINDIA12 1) | The investment objective of the fund is to provide high return in the long term ... The risk appetite is ‘high’ | High | Debt securities ... Life Balanced Fund 1 (SFIN:ULIF00128 /07/04LBALANC E01121 | The investment objective of the fund is to provide investment returns that exceed the rate of inflation ... The risk appetite is defined as ‘low to moderate’ | Low to Moderate | Debt securities ... Life Corporate Bond Fund 1 (SFIN:ULIF02310 /06/08LCORBO ND01121) | Provide returns that exceed the inflation rate ... The risk appetite is ‘low to moderate’ | Low to Moderate | Money market instruments ... Life Midcap Fund 2 (SFIN:ULIF04501 /01/10LMIDCAP F02121) | Provide potential for higher return in the long term through high exposure to equity investments in Midcap companies ... The risk appetite is ‘high’. | High | Equities predominantly in mid cap companies ... Life Viksit Bharat Multifactor 50 Index Fund (SFIN: ULIF07216 /03/26LMULTC APEQ121) | To provide capital appreciation through investment in equities forming part of Nifty 500 Multifactor MQVLv 50 Index. While recognizing that there is a significant probability of negative returns in the short term. The risk appetite is high | High | Equities and Equity Related Instruments including ETFs ... Value 50 Index | through predominantly investing into | Debt Securities,\nFund (SFIN: | equities forming part of Nifty500 | Money Market\nULIF07304/ | Value 50 Index. The risk | High | Instruments, Net\n09/26LBHV | appetite of fund is “high”. | current assets, | 0 – 35\n50INEQ121) | Cash, Banks ... Fund Name Life Money Market Fund 1 (SFIN:ULIF0291 0/06/08LMO NMRKT01121) | Investment Objectives | Risk Profile | Asset Class | Asset Allocation Range (%) 100\nMaintain the capital value of all contributions (net of charges) and all interest additions, at all times. The risk appetite is ‘low’. | Low | Money market instruments","sources":[{"clause":null,"heading":"Investment Options","page":7,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-investment-options"}],"law":[]},{"key":"premium_allocation_charge","label":"Premium allocation charge","section":"Charges","meaning":"Part of each premium taken before investing.","status":"quote-verified","value":"Premium allocation charge is 10% in the 1st policy year, 5% in policy years 2nd to 5th, and Nil from the 6th policy year onwards.","display":"10% in 1st year, 5% in 2nd to 5th years, Nil from 6th onwards.","note":null,"quote":"Premium Allocation Charges The Premium Allocation Charge as a percentage of the premium will be deducted from the premium amount at the time of premium payment and the balance premium will be used to allocate Units in the chosen Fund/s thereafter. The Premium Allocation Charges are as follows:\n1st | 2nd to 5th\nPolicy Year | 6th onwards\n10% | 5%\nPremium Allocation Charge | Nil","sources":[{"clause":null,"heading":"Charges","page":13,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-charges"}],"law":[]},{"key":"policy_admin_charge","label":"Policy administration charge","section":"Charges","meaning":"Monthly charge deducted from your fund.","status":"quote-verified","value":"A monthly policy administration charge of 0.8% of annualized premium, subject to a maximum of Rs 500 per month, is deducted from the 6th policy year at the start of every policy month until termination by cancelling units proportionately.","display":"0.8% of Annualized Premium per month, maximum Rs 500 per month, from 6th policy year.","note":null,"quote":"A monthly Policy Administration Charge of 0.8% of Annualized Premium subject to a maximum of Rs 500 per month will be deducted from 6th Policy year, at the start of every policy month (till termination of the Policy) by cancelling the Units proportionately, from each segregated fund held by the Policyholder during the corresponding month.","sources":[{"clause":null,"heading":"Policy Administration Charges","page":14,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-policy-administration-charges"}],"law":[]},{"key":"fund_management_charge","label":"Fund management charge","section":"Charges","meaning":"Yearly charge on fund value; capped at 1.35% by IRDAI.","status":"quote-verified","value":"Fund management charge is priced in NAV daily. The annual rate is 1.35% for the listed equity funds, 1.25% for Life Corporate Bond Fund 1, Life Balanced Fund 1 and Life Money Market Fund 1, and 0.50% for the Discontinued Policy Fund.","display":"1.35% for equity funds, 1.25% for corporate bond/balanced/money market funds, 0.50% for discontinued policy fund.","note":null,"quote":"FMC will be priced in the NAV per Unit (Unit price) of each Fund on a daily basis.\nFund Name | Annual Rate\nLife Large Cap Equity Fund (SFIN: ULIF07101/12/19LLARGCAPEQ121) | 1.35%\nLife Equity Fund 3 (SFIN:ULIF04201/01/10LEQUITYF03121) | 1.35%\nLife Pure Equity Fund 2 (SFIN:ULIF04601/01/10LPUEQUTY02121) | 1.35%\nMake in India Fund (SFIN:ULIF06924/03/15LMAKEINDIA121) | 1.35%\nLife Midcap Fund 2 (SFIN:ULIF04501/01/10LMIDCAPF02121) | 1.35%\nLife Viksit Bharat Multifactor 50 Index Fund (SFIN: ULIF07216/03/26LMULTCAPEQ121) | 1.35%\nLife Bharat Value 50 Index Fund (SFIN: ULIF07304/09/26LBHV50INEQ121) | 1.35%\nLife Corporate Bond Fund 1 (SFIN:ULIF02310/06/08LCORBOND01121) | 1.25%\nLife Balanced Fund 1 (SFIN:ULIF00128/07/04LBALANCE01121) | 1.25%\nLife Money Market Fund 1 (SFIN:ULIF02910/06/08LMONMRKT01121) | 1.25%\nDiscontinued Policy Fund (SFIN: ULIF05703/09/10DISCPOLF01121) | 0.50%","sources":[{"clause":null,"heading":"Fund Management Charge (FMC)","page":14,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-fund-management-charge-fmc"}],"law":[]},{"key":"mortality_charge","label":"Mortality charge","section":"Charges","meaning":"Cost of life cover, deducted monthly by age.","status":"quote-verified","value":"Mortality charge is deducted from fund value and varies by life cover amount, attained age, occupation, health at inception and prevailing fund value. It is deducted monthly at the beginning of each policy month by cancellation of units using 1/12th of the mortality rates; extra mortality charges may apply for sub-standard lives.","display":"Deducted monthly from Fund Value by cancellation of units, varying by cover, age, occupation, health and fund value.","note":null,"quote":"This Charge will be deducted from the Fund Value. The Mortality Charges will vary depending on the amount of life insurance cover, attained age of the Life Assured, occupation, health of the Life Assured at inception of the Policy and prevailing Fund Value.\nThe Mortality Charges will be deducted by cancellation of Units at the prevailing NAV per Unit (Unit price) on a monthly basis at the beginning of each Policy month using 1/12th of the mortality rates.\nExtra mortality charges may be levied for sub-standard lives.","sources":[{"clause":null,"heading":"Mortality Charge","page":14,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-mortality-charge"}],"law":[]},{"key":"discontinuance_charge","label":"Discontinuance charge","section":"Charges","meaning":"Charge if you stop paying in the first five years.","status":"quote-verified","value":"Discontinuance charge is lower of 6% of AP or FV, capped at Rs.6,000 in year 1; lower of 4%, capped at Rs.5,000 in year 2; lower of 3%, capped at Rs.4,000 in year 3; lower of 2%, capped at Rs.2,000 in year 4; and Nil from year 5 onwards.","display":"Year 1: lower of 6% of AP/FV, max Rs.6,000; Year 2: 4%, max Rs.5,000; Year 3: 3%, max Rs.4,000; Year 4: 2%, max Rs.2,000; Year 5 onwards: Nil.","note":null,"quote":"The Discontinuance Charges are as given below:\nPolicy Discontinued in | Discontinuance Charge\nYear 1 | Lower of 6% of (AP or FV), subject to a maximum of Rs.6,000\nYear 2 | Lower of 4% of (AP or FV), subject to a maximum of Rs.5,000\nYear 3 | Lower of 3% of (AP or FV), subject to a maximum of Rs.4,000\nYear 4 | Lower of 2% of (AP or FV), subject to a maximum of Rs.2,000\nYear 5 onwards | Nil\nWhere AP is Annualized Premium and FV is Fund Value.","sources":[{"clause":null,"heading":"Discontinuance Charge","page":14,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-discontinuance-charge"}],"law":[]},{"key":"switches_withdrawals","label":"Switches and partial withdrawals","section":"Renewal and rights","meaning":"Free fund switches and withdrawals after lock-in.","status":"quote-verified","value":"Partial withdrawals are available only after completion of the lock-in period of first five policy years. The first two partial withdrawals in a policy year are free; each later partial withdrawal costs Rs.100, with minimum withdrawal Rs. 10,000 and maximum in a policy year not exceeding 20% of fund value at the beginning of the policy year. There are 52 free switches each policy year; later switches cost Rs 100 per switch.","display":"Partial withdrawals after 5-year lock-in: first 2 per policy year free, then Rs.100; min Rs. 10,000, max 20% of beginning fund value. Switches: 52 free per policy year, then Rs 100.","note":null,"quote":"Partial Withdrawals from the Fund Value are available only after the completion of Lock-in Period i.e. first five policy years.\n• The first Two Partial Withdrawals in a Policy Year are free of charge. On every subsequent Partial Withdrawal, within the policy year, a Partial Withdrawal Charge of Rs.100 will be deducted each time from the Fund withdrawn.\n• The minimum amount of Partial Withdrawal is Rs. 10,000 and the maximum Partial Withdrawal in a Policy Year shall not exceed 20% of the Fund Value at the beginning of the Policy Year. ... You are entitled to 52 free switches each Policy Year. Subsequent switches if any will have a fixed Charge of Rs 100 per switch.","sources":[{"clause":null,"heading":"Other Features","page":9,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-other-features"},{"clause":null,"heading":"Switching","page":9,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950#c-switching"}],"law":[]}],"documents":[{"kind":"brochure","label":"IndusInd Nippon Life Wealth and Insurance Plan","pages":20,"fetched_at":"2026-10-17 19:39:40+00","source_url":"https://www.indusindnipponlife.com/documents/34625/224960/Brochure_INL+WIN_121L146V02.pdf","url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02/document/9950"}],"versions":[],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"IndusInd Nippon Life Insurance official website","url":"https://www.indusindnipponlife.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims","url":"https://www.indusindnipponlife.com/claims","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://www.indusindnipponlife.com/grievance-redressals","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"IndusInd Nippon Life Wealth and Insurance Plan (UIN 121L146V02), IndiaInsurances, https://indiainsurances.com/policy/indusind-nippon-life-insurance/indusind-nippon-life-wealth-and-insurance-plan-121l146v02"}