{"uin":"121L155V01","name":"INL WealthNext","url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01","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 WealthNext is a single premium unit linked life insurance policy. It has a 5-year lock-in, nine fund options and pays death benefit as the higher of sum assured net of deductible partial withdrawals or base fund value.","analysis":{"state":"machine","analysed_at":"2026-10-20 00:49:16.638045+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":"The wording describes one product but does not name separate plan variants.","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":"Policy term options shown in the product tables are 5, 7, 10, 15 and 20 years.","display":"5, 7, 10, 15 or 20 years","note":null,"quote":"Policy | 5 | 7 | 10 | 15 | 20 | 5 | 7 | 10 | 15 | 20 | 5 | 7 | 10 | 15 | 20\nTerm → /Policy","sources":[{"clause":null,"heading":"Loyalty Addition (% of SP)","page":14,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-loyalty-addition-of-sp"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"For death benefit claims, the claimant should intimate the company in writing and provide documents preferably within 90 days from the claim event. For maturity benefit, the claimant should endeavour to submit primary documents at least 15 days before the policy maturity date.","display":"Death claim: preferably within 90 days from the claim event; maturity documents: at least 15 days before maturity","note":null,"quote":"To enable the Company to process the Maturity Benefit in a speedy manner, the Claimant shall endeavor to submit the primary documents at least 15 days before the Policy Maturity Date. In the event of a claim for Death Benefit arising under this Policy, the Claimant shall endeavor to intimate the Company in writing of the claim and provide the following documents to the Company preferably within 90 days from the claim event.","sources":[{"clause":"6.2","heading":"Requirements for maturity and death claim","page":29,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-6-2"}],"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":"quote-verified","value":["Original Policy Document","Death certificate issued by the competent authority","Hospitalization documents (discharge summary along with all investigation reports) if the Life Assured has taken treatment for illness leading to his death","Claim Forms duly filled by the Claimant, the last treating doctor (if applicable) and by a third person (who is not a relative of the Claimant)","KYC documents of the Claimant as per the Anti Money Laundering (AML) Guidelines of the Company","Personalized Cancelled cheque leaf/ Self-attested passbook copy of the Claimant/ Bank Statement with last 6 months transaction","Bank Authorization Form","Overseas Claims form (A), Copy of Passport, Embassy Document, Cremation certificate, Body transfer certificate from police officials (Only if Life Assured is non-resident of India)","FATCA CRS Form","For un-natural deaths: First Information Report, Post Mortem Report, Newspaper Cutting, Viscera Report/Chemical Analysis Report, Final Police Investigation Report","For maturity: Original Policy Document, KYC documents, Maturity Discharge Form with bank proof, FATCA CRS Form, and NRI Self declaration where applicable"],"display":"Death: listed primary documents plus extra documents for un-natural deaths; maturity: original policy, KYC, maturity discharge and bank proof, FATCA CRS, and applicable declarations","note":"The company reserves the right to call for additional or other relevant documents.","quote":"List of primary documents required in the event of a claim for Death Benefit for natural deaths\na) Original Policy Document (in case of issuance of Policy in physical form)\nb) Death certificate issued by the competent authority\nc) Hospitalization documents (discharge summary along with all investigation reports) if the Life Assured has taken treatment for illness leading to his death\nd) Claim Forms duly filled by the Claimant, the last treating doctor (if applicable) and by a third person (who is not a relative of the Claimant)\ne) KYC documents of the Claimant as per the Anti Money Laundering (AML) Guidelines of the Company\nf) Personalized Cancelled cheque leaf/ Self-attested passbook copy of the Claimant/ Bank Statement with last 6 months transaction\ng) Bank Authorization Form\nh) Overseas Claims form (A), Copy of Passport, Embassy Document, Cremation certificate, Body transfer certificate from police officials (Only if Life Assured is non-resident of India)\ni) FATCA CRS Form List of additional documents required in the event of a claim for Death Benefit for un-natural deaths\na) First Information Report\nb) Post Mortem Report\nc) Newspaper Cutting, where available\nd) Viscera Report/Chemical Analysis Report, where applicable\ne) Final Police Investigation Report, where applicable List of primary documents required in case of a Maturity Benefit:\na) Original Policy Document\nb) KYC documents of the Policyholder as per the Anti Money Laundering (AML) Guidelines of the Company.\nc) Maturity Discharge Form along with Personalized Cancelled cheque leaf/ Self-attested passbook copy of the Claimant / Bank statement with last 6 months transaction\nd) FATCA CRS Form\ne) NRI Self declaration (Only, If Policyholder is Non-resident of India), Annuity Payout Form indicating the annuity option customer wishes to choose (Applicable only for Pension products as per Product T&C / prevailing Regulations)","sources":[{"clause":"6.2","heading":"Requirements for maturity and death claim","page":29,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-6-2"}],"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":"The claims section describes registration, verification and disbursal but does not promise a time limit for deciding or paying claims.","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":["Suicide within 12 months from the Date of Commencement of Risk: Fund Value as on the date of intimation of death is payable, with specified charges recovered after death paid back"],"display":"Suicide within 12 months: Fund Value as on death intimation, plus pay-back of specified post-death charges","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 Risk of the Policy, the Nominee/Claimant of the Policyholder shall be entitled to Fund Value, as on the date of intimation of death. Any Charges other than Fund Management Charges and Guarantee Charges (if any) 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":"6.3","heading":"Suicide Exclusions","page":30,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-6-3"}],"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":"First contact customer care by phone, email, branch or writing to IndusInd Nippon Life Customer Care. If unresolved for more than 14 days or not satisfied, contact the Service Branch Manager or headcustomercare email, then the Grievance Redressal Officer, before referring the matter to the Insurance Ombudsman.","display":"Customer care first; after 14 days Service Branch Manager/headcustomercare; then GRO; then Insurance Ombudsman","note":null,"quote":"Step 1: If You are dissatisfied with any of Our services, please feel free to contact Us at the following contact points –– Step 1.1: Call Us at 1800 102 1010 (Toll free); Call centre timings: 8am to 8pm Monday to Saturday or Email: customerservice@indusindnipponlife.com OR Step 1.2: Contact the Customer Service Executive at Your nearest branch of the Company OR Step 1.3: Write to: IndusInd Nippon Life Customer Care 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\nStep 2: If Your complaint is unresolved for more than 14 days, or, You are not satisfied with the solution provided, or, You have wish to register a complaint, please contact Our Service Branch Manager, who is also the Local Grievance Redressal Officer at Your nearest branch OR email Us at headcustomercare@indusindnipponlife.com OR write to the correspondence address mentioned in Step 1 above\nStep 3: If You are not satisfied with the resolution, please write to Our Grievance Redressal Officer at gro@indusindnipponlife.com OR write to the correspondence address mentioned in Step 1 above\nStep 4: If the issues remain unresolved; You may refer the matter to the Insurance Ombudsman in accordance with the applicable rules","sources":[{"clause":"7.3","heading":"Grievance Redressal","page":36,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-7-3"}],"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":"not-stated","value":null,"display":null,"note":"The sample schedule has a Base Sum Assured field and the policy defines Sum Assured, but the wording provided does not state the minimum and maximum life cover or a rule that sets it.","quote":null,"sources":[],"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 insured dies during the policy term while the policy is in force, the nominee gets the higher of the sum assured net of deductible partial withdrawals, if any, or the base fund value. The policy terminates after payment of the death benefit and no other benefit is payable.","display":"Higher of Sum Assured net of deductible partial withdrawals or Base Fund Value","note":null,"quote":"In case of death of the life insured during the policy term and while the Policy is in force, the nominee will get higher of:\n• the Sum Assured net of all \"Deductible Partial Withdrawals\", if any, or\n• the Base Fund Value of this policy\nThe Policy shall terminate on payment of Death Benefit, and no other benefit shall be payable.\nFor the purpose of determining Death Benefit, the Deductible Partial Withdrawals mentioned above shall mean the Partial Withdrawals made during the last two-year period immediately preceding the date of death of the insured.","sources":[{"clause":null,"heading":"3.1.1 Death Benefit","page":14,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-3-1-1-death-benefit"}],"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, if the policy is in force, the maturity benefit is the total fund value, being the base fund value valued at applicable NAV on the maturity date. It can be received as a lump sum or through the settlement option.","display":"Total Fund Value at applicable NAV on maturity, as lump sum or settlement option","note":null,"quote":"On survival of the Life Assured till the end of the Policy Term , provided the Policy is In-force, the Maturity Benefit will be payable. The Maturity Benefit payable shall be the total Fund Value which is the Base Fund Value valued at applicable NAV on the date of maturity\nThe Policyholder will have an option to receive the Maturity Benefit either as a lump sum or as a structured payout using Settlement Option. The Policy shall terminate on payment of the maturity benefit.","sources":[{"clause":null,"heading":"3.1.2 Maturity Benefit","page":14,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-3-1-2-maturity-benefit"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"This is a single premium policy. The premium is paid in lump sum at the inception of the policy.","display":"Single premium, paid at inception","note":null,"quote":"Premium Payment Frequency: Single Pay Premium Amount: Rs. « » ... “Single Premium” means the premium is paid in lump sum at the inception of the policy.","sources":[{"clause":null,"heading":"Contract Details","page":5,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-contract-details"},{"clause":null,"heading":"“Single Premium”","page":13,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-single-premium"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"not-stated","value":null,"display":null,"note":"The wording provided does not state the maximum age at maturity.","quote":null,"sources":[],"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, whether sane or insane, within 12 months from the date of commencement of risk, the nominee or claimant is entitled to the fund value as on the date of intimation of death. Charges other than fund management charges and guarantee charges, if any, recovered after death are paid back with the fund value.","display":"Within 12 months: Fund Value as on death intimation, plus specified charge pay-back","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 Risk of the Policy, the Nominee/Claimant of the Policyholder shall be entitled to Fund Value, as on the date of intimation of death. Any Charges other than Fund Management Charges and Guarantee Charges (if any) 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":"6.3","heading":"Suicide Exclusions","page":30,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-6-3"}],"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":"During the lock-in period, surrender value is fund value less applicable discontinuance charges and is moved to the Discontinued Policy Fund; proceeds are paid only after completion of the lock-in period and no risk cover is available during that period. After the lock-in period, the total fund value as on complete withdrawal is paid and the policy terminates.","display":"During lock-in: Fund Value less discontinuance charges moved to Discontinued Policy Fund and paid after lock-in; after lock-in: total Fund Value paid","note":null,"quote":"The surrender value i.e. the Fund Value less applicable discontinuance charges as on the date of discontinuance shall be credited to the 'Discontinued Policy Fund' as maintained by the Company. The 'Proceeds of the Discontinued Policy Fund' i.e. the total Fund Value as on the date of discontinuance plus entire income earned after deduction of the Fund Management Charges, subject to a minimum guarantee of interest @ 4% p.a. or as prescribed by IRDAI from time to time shall be paid to the policyholder only after completion of Lock-in period. No risk cover shall be available on such policy during Lock-in period. In case of the death of the insured during this period the proceeds of the Discontinued Policy shall be payable to the claimant immediately. ... In case of surrender of policy after the Lock-in Period, the total Fund Value as on the date of complete withdrawal shall be paid to the policyholder and, on such payment, the policy shall terminate.. The Fund Management Charge (FMC) for Discontinued Policy Fund is 0.50% p.a.","sources":[{"clause":"4.5.1","heading":"Surrender of the Policy during the Lock-in Period","page":17,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-5-1"},{"clause":"4.5.2","heading":"Surrender of the Policy after the Lock-in Period","page":17,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-5-2"}],"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":"The policy does not acquire reduced paid-up status because it is a single premium plan.","display":"No reduced paid-up status","note":null,"quote":"This is a Single Premium plan hence the policy will not acquire Reduced Paid-up status.","sources":[{"clause":"4.7","heading":"Reduced Paid-up","page":17,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-7"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"Policy revival is not applicable.","display":"Not applicable","note":"This is a single premium policy.","quote":"4.8 Policy Revival ... Not Applicable.","sources":[{"clause":"4.8","heading":"Policy Revival","page":17,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-8"}],"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 this policy.","display":"No policy loan","note":null,"quote":"Policy Loan facility is not available under this Policy.","sources":[{"clause":"4.2","heading":"Policy Loans","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-2"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"not-stated","value":null,"display":null,"note":"The policy wording provided does not list optional riders.","quote":null,"sources":[],"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":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"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 base policy may be eligible for tax exemptions, subject to applicable tax laws and conditions. The policyholder is advised to consult a tax advisor for extant and applicable tax benefits.","display":"Premiums may be eligible for tax exemptions, subject to tax laws; consult a tax advisor","note":null,"quote":"Premiums paid under the Base Policy, may be eligible for tax exemptions, subject to applicable tax laws and conditions. The Policyholder is advised to consult a tax advisor for extant and applicable tax benefits.","sources":[{"clause":"6.5","heading":"Tax benefit","page":31,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-6-5"}],"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":"If opted through Insurance Repository, the period is computed from the date of the email informing policy credit in IR.","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":"4.1","heading":"Free look","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-1"}],"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":"not-applicable","value":null,"display":null,"note":"Grace period does not apply because this is a single premium policy; the wording also states grace period is not applicable.","quote":null,"sources":[],"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":"not-stated","value":null,"display":null,"note":"The wording provided has schedule placeholders for age at entry but does not state the youngest and oldest entry ages.","quote":null,"sources":[],"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":["Single Pay"],"display":"Single Pay","note":null,"quote":"Premium Payment Frequency: Single Pay Premium Amount: Rs. « »","sources":[{"clause":null,"heading":"Contract Details","page":5,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-contract-details"}],"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":["Single Premium"],"display":"Single Premium","note":null,"quote":"This is a Single Premium ULIP Policy with a Policy Term of <<PT>> years. ... “Single Premium” means the premium is paid in lump sum at the inception of the policy.","sources":[{"clause":"1","heading":"Part A Forwarding Letter","page":1,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-1"},{"clause":null,"heading":"“Single Premium”","page":13,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-single-premium"}],"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":"five consecutive completed years","note":null,"quote":"\"Lock-in Period\" means the period of five consecutive completed years from the Date of Commencement of the Policy, during which period the proceeds of the policies cannot be paid by the Company to the Policyholder or to the Life Assured, as the case may be, except in the case of death or upon the happening of any other contingency covered under the Policy","sources":[{"clause":null,"heading":"\"Lock-in Period\"","page":12,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-lock-in-period"}],"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"],"display":"Nine fund options: seven High risk equity/index funds and two Low to Moderate funds","note":null,"quote":"The Policy offers total nine Fund options as described in the table below at commencement of the policy. ... Life Large Cap Equity Fund (SFIN: ULIF07101/12/ 19LLARGCAPEQ 121) | To generate consistent long-term performance through exposure to predominantly large cap equities with particular focus on companies having demonstrable corporate governance, built-in competitive advantage in their business model and good track record in Financial Performance. Further, we recognize that there is significant probability of negative returns in the short term. The risk appetite is ‘high’. ... Life Equity Fund 3 (SFIN:ULIF0420 1/01/10LEQUIT YF03121) | Provide high real rate of return in the long term through high exposure to equity investments, while recognizing that there is significant probability of negative returns in the short term. The risk appetite is ‘high’ | High ... Life Pure Equity Fund 2 (SFIN:ULIF0460 1/01/10LPUEQ UTY02121) | The investment objective of the Pure Equity fund is to provide Policyholders high real rate of return in the long term through high exposure to equity investments, while recognizing that there is significant probability of negative returns in the short term. The risk appetite is ‘high’ | High ... Make in India Fund (SFIN: ULIF06924/03/ 15LMAKEINDIA 121) | The investment objective of the fund is to provide high return in the long term through exposure to equity investments in the sectors related to industrial activity. The risk appetite is ‘high’ | High ... Life Balanced Fund 1 (SFIN:ULIF0012 8/07/04LBALA NCE01121) | The investment objective of the fund is to provide investment returns that exceed the rate of inflation in the long term while maintaining a low probability of negative returns in the short term. The risk appetite is defined as ‘low to moderate’ | Low to Moderate ... Life Corporate Bond Fund 1 (SFIN:ULIF0231 0/06/08LCORB OND01121) | Provide returns that exceed the inflation rate, while taking some credit risk (through investments in corporate debt instruments) and maintaining a moderate probability of negative return in the short term. The risk appetite is ‘low to moderate’ | Low to Moderate ... Life Midcap Fund 2 (SFIN:ULIF0450 1/01/10LMIDC APF02121) | Provide potential for higher return in the long term through high exposure to equity investments in Midcap companies, while recognizing that there is significant probability of negative returns in the short term. The risk appetite is ‘high’. | High ... Life Viksit Bharat Multifactor 50 | To provide capital appreciation through investment in equities forming part of Nifty 500 Multifactor MQVLv 50 Index. While | High ... Index Fund (SFIN: ULIF07216/03/ 26LMULTCAPE Q121) | recognizing that there is a significant probability of negative returns in the short term. The risk appetite is high ... Life Bharat Value 50 Index Fund (SFIN: ULIF07304/09/ 26LBHV50INEQ 121) | To provide capital appreciation through predominantly investing into equities forming part of Nifty500 Value 50 Index. The risk appetite of fund is “high”. | High","sources":[{"clause":"5.1.1","heading":"Funds","page":20,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-5-1-1"},{"clause":null,"heading":"Range (%)","page":20,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-range"},{"clause":null,"heading":"Range (%)","page":21,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-range-2"},{"clause":null,"heading":"Range (%)","page":22,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-range-3"}],"law":[]},{"key":"premium_allocation_charge","label":"Premium allocation charge","section":"Charges","meaning":"Part of each premium taken before investing.","status":"quote-verified","value":"The premium allocation charge is 1% of the single premium. It is 0% for policies bought through the company’s direct online portals, for employees of the company and promoter’s group companies, and for existing policyholders of the company.","display":"1% of Single Premium; 0% for direct online, employees/promoter group, and existing customers","note":null,"quote":"Before allocation of units when the premium is received, the allocation charge is levied as a percentage of Single Premium. The Allocation charge will be 1% of the Single Premium. ... For policies purchased through Company’s direct online portals only, the allocation charge for Single Premium will be 0% of the Single Premium. ... For employees of the Company and promoter’s Group Companies, reduced allocation charges will apply. The allocation charge for single premium will be 0% of the Single Premium. ... Allocation Charge of 0% of Single Premium will be charged for policies purchased by the existing policyholders of the Company.","sources":[{"clause":"5.2.1","heading":"Premium Allocation Charges","page":26,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-5-2-1"},{"clause":null,"heading":"Premium Allocation Charge - Online Customer","page":26,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-premium-allocation-charge-online-customer"},{"clause":null,"heading":"Premium Allocation Charge - Employees","page":26,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-premium-allocation-charge-employees"},{"clause":null,"heading":"Premium Allocation Charge – Existing Customers","page":26,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-premium-allocation-charge-existing-customers"}],"law":[]},{"key":"policy_admin_charge","label":"Policy administration charge","section":"Charges","meaning":"Monthly charge deducted from your fund.","status":"quote-verified","value":"The policy administration charge is 1.25% of single premium per annum for the first five policy years, deducted monthly in advance by cancelling units, subject to a maximum of ₹500 per month.","display":"1.25% of single premium per annum for first five policy years, max ₹500 per month","note":null,"quote":"Under this product, 1.25% of single premium will be deducted per annum as Policy Administration Charge for the first five policy years. The monthly Policy administration charge will be deducted by cancelling units at the prevailing unit price in advance at the beginning of every month, subject to maximum of ₹500 per month","sources":[{"clause":"5.2.2","heading":"Policy Administration Charge","page":26,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-5-2-2"}],"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 into the NAV daily. Annual rates are 1.35% for Life Large Cap Equity, Life Equity Fund 3, Life Pure Equity Fund 2, Make in India Fund, Life Midcap Fund 2, Life Viksit Bharat Multifactor 50 Index Fund and Life Bharat Value 50 Index Fund; 1.25% for Life Corporate Bond Fund 1 and Life Balanced Fund 1; and 0.50% for Discontinued Policy Fund.","display":"1.35% for equity/index funds, 1.25% for Corporate Bond and Balanced funds, 0.50% for Discontinued Policy Fund","note":null,"quote":"Fund Management Charges will be priced in the NAV per Unit (Unit price) of each Fund on a daily basis.\nFund Name Annual Rate Life Large Cap Equity Fund (SFIN: ULIF07101/12/19LLARGCAPEQ121) 1.35% Life Equity Fund 3 (SFIN:ULIF04201/01/10LEQUITYF03121) 1.35% Life Pure Equity Fund 2 (SFIN:ULIF04601/01/10LPUEQUTY02121) 1.35% Make in India Fund (SFIN:ULIF06924/03/15LMAKEINDIA121) 1.35% Life Midcap Fund 2 (SFIN:ULIF04501/01/10LMIDCAPF02121) 1.35% Life Viksit Bharat Multifactor 50 Index Fund (SFIN: ULIF07216/03/26LMULTCAPEQ121) 1.35% Life Bharat Value 50 Index Fund (SFIN: ULIF07304/09/26LBHV50INEQ121) 1.35% Life Corporate Bond Fund 1 (SFIN:ULIF02310/06/08LCORBOND01121) 1.25% Life Balanced Fund 1 (SFIN:ULIF00128/07/04LBALANCE01121) 1.25% Discontinued Policy Fund (SFIN: ULIF05703/09/10DISCPOLF01121) 0.50%","sources":[{"clause":"5.2.4","heading":"Fund Management Charge","page":26,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-5-2-4"}],"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 monthly from the fund value under base premiums by cancelling units. It varies with life insurance cover, attained age, occupation, health and prevailing fund value, using 1/12th of the mortality rates; standard rates per 1000 sum at risk are in Annexure A.","display":"Monthly deduction by cancellation of units, using 1/12th of mortality rates per 1000 sum at risk","note":null,"quote":"This Charge will be deducted from the Fund Value under the Base Premiums. The Mortality Charges will vary depending on the amount of life insurance cover along with attained age, occupation, health of the Life Assured and prevailing Fund Value. The mortality Charges will be deducted by cancellation of units at the prevailing unit price, on a monthly basis at the beginning of each policy month using 1/12th of the mortality rates. The standard Mortality Charge/rates per 1000 Sum at risk under this Policy are as provided in Annexure A of this Policy Document. Mortality Charge will be different for substandard lives.","sources":[{"clause":"5.2.3","heading":"Mortality Charge","page":26,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-5-2-3"}],"law":[]},{"key":"discontinuance_charge","label":"Discontinuance charge","section":"Charges","meaning":"Charge if you stop paying in the first five years.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"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":"The policyholder is entitled to 52 free switches each policy year; unused switches cannot be carried forward, and subsequent switches cost Rs 100. Partial withdrawals from base fund value are available only after completion of five policy anniversaries if the life assured is 18 years old; the first two partial withdrawals in a policy year are free, then ₹100 per transaction, minimum Rs. 10,000 and maximum 20% of total fund value at the beginning of the policy year, with minimum fund balance after withdrawal at least equal to 100% of single premiums paid.","display":"52 free switches per policy year; partial withdrawals after five policy anniversaries and age 18, first two free, then ₹100, min Rs. 10,000 and max 20%","note":null,"quote":"The Policyholder is entitled to 52 free switches each Policy Year. The Policyholder will have the flexibility to alter the Allocation of his/her investments among the Fund(s) offered in order to suit his/her changing investment needs by switching between the Fund(s). ... Any unused free switches in a Policy Year cannot be carried forward to a following Policy Year. ... Subsequent switches if any will have a fixed Charge of Rs 100 per switch. ... Partial Withdrawals from the Base Fund Value are available only after the completion of five Policy anniversaries provided the Life Assured is 18 years of age. First two Partial Withdrawals in a policy year are free. Thereafter, a partial withdrawal charge of ₹100 per transaction will be deducted from the fund withdrawn at the time of Partial Withdrawal of the fund. Any unutilized partial withdrawal in a year cannot be carried forward to another year. The partial withdrawal will be allowed from the Fund Value built up from the base premiums. 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 Total Fund Value at the beginning of the Policy Year. However, at any point of time during the policy term, the minimum fund balance after the partial withdrawal should be at least equal to 100% of Single premiums paid","sources":[{"clause":"4.10","heading":"Switching","page":18,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-10"},{"clause":"5.2.8","heading":"Switching Charge","page":28,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-5-2-8"},{"clause":"4.3","heading":"Partial Withdrawals","page":16,"url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923#c-4-3"}],"law":[]}],"documents":[{"kind":"wording","label":"121L155V01_INL WealthNext_Sample Policy Document","pages":50,"fetched_at":"2026-10-17 19:38:44+00","source_url":"https://www.indusindnipponlife.com/documents/34625/224934/Sample+Policy+Document_INL+WealthNext_121L155V01+%281%29.pdf","url":"https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01/document/9923"}],"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":"INL WealthNext (UIN 121L155V01), IndiaInsurances, https://indiainsurances.com/policy/indusind-nippon-life-insurance/inl-wealthnext-121l155v01"}