IndusInd Nippon Life Super Suraksha Plus

Super Suraksha Plus by IndusInd Nippon Life Insurance combines core term protection with life-stage cover increases, flexible claim payouts, and an InstaPayout feature. But with multiple options available, the real question is whether these features justify choosing it over larger, more established term insurers.

This guide covers IndusInd Nippon policy details, including eligibility, features, riders, the insurer's track record, and whether the term plan meets your family's needs.

What Is IndusInd Nippon Life Super Suraksha Plus?

IndusInd Nippon Life Super Suraksha Plus is a non-linked, non-participating individual life insurance plan offering two variants.

IndusInd Nippon Life Super Suraksha Plus Plan Variants

• Life Variant (Variant 1): If the life assured dies during the policy term while the policy is in force, the applicable death benefit is paid to the nominee. The policy terminates after the death benefit is paid.
• Life Plus Variant (Variant 2): If the life assured dies during the policy term, the applicable death benefit is paid, and the policy terminates. If the life assured survives until maturity, 100% of total premiums paid (excluding rider premiums) is payable as the maturity benefit.

Note: At Ditto, we do not recommend return of premium plans because they can cost 60% to 100% more than regular term plans. While getting your premiums back may sound attractive, the refund does not generate returns. Over a long policy term, inflation can significantly reduce that amount's purchasing power.

Note: Both variants offer a policy term of up to 50 years. The minimum term is 20 years for regular pay, while limited pay requires PPT plus 10 years, subject to a minimum policy term of 20 years and the applicable maximum maturity age.

How Does IndusInd Nippon Life Super Suraksha Plus Work?

You choose the Life or Life Plus variant, select your desired sum assured and policy term, and pay premiums as scheduled. If the life insured dies during the policy term, the nominee receives the applicable death benefit, subject to policy terms.

In case you survive the policy term and you opted for the Life Plus variant, base premiums will be returned, subject to policy terms and conditions.

Features and Add-Ons Available With IndusInd Nippon Life Super Suraksha Plus

• Death Benefit: If the life assured dies during the policy term while the policy is in force, the nominee receives the applicable death benefit. 
• Death Payout Options: You can choose a lump sum, regular income, or a combination of both, depending on the option selected.
• InstaPayout Benefit: After completing three policy years from the risk commencement date or revival date, whichever is later, an accelerated ₹1 lakh payout is made within two working days of claim registration, provided you submit all mandatory documents. For accidental death, InstaPayout becomes available after one policy year from risk commencement/revival, subject to conditions.
• Enhanced Coverage Benefit: The plan allows additional coverage of 25% of the base sum assured on first marriage, birth or legal adoption of the first child, and birth or legal adoption of the second child. For a home loan taken after policy commencement, the increase can be 50% of the base sum assured or the loan amount, whichever is lower.  

Note: The enhanced coverage benefit is only available with the Life variant and can be exercised only when the life assured's attained age is below 45 years, subject to the applicable policy terms and conditions. This option can be exercised within 180 days of the specified event.

Riders Available

• Accidental Death Benefit Rider: Provides an additional payout if the life insured dies due to a qualifying accident, subject to the rider's terms and conditions. The rider is recommended only if you have high accident exposure or are a frequent traveler.
• Accidental Death & Disability Rider: Pays the additional rider sum assured on qualifying accidental death. If the life assured suffers accidental total and permanent disability, the rider sum assured is paid in 10 equal annual installments, subject to the rider terms. The rider is not recommended as it offers no premium waiver after disability.
• Accidental Death & Disability Plus Rider: Covers qualifying accidental death and accidental total and permanent disability. After an accepted disability claim, the rider sum assured is paid in 10 equal annual installments, while future premiums for the base policy and attached riders are waived. The rider can be opted for disability coverage, income replacement, and premium waiver benefits. However, it cannot be combined with the enhanced coverage benefit. 
• Critical Illness Rider: Pays a lump sum upon diagnosis of a covered Critical Illness (CI). The rider covers 25 specified illnesses, with a 90-day waiting period that resets upon revival. It also has a 30-day survival period and can be opted for a rider term of 5 to 15 years. At Ditto, we recommend considering this rider as it provides much-needed financial protection against major medical crises.

Note: Rider selection and addition are subject to the plan's terms and conditions. Not all riders can be selected together, so choose them carefully based on the available combinations and your specific protection needs.

Note: This premium illustration is based on a salaried, non-smoking male in Delhi (110010) seeking ₹2 crore of level term cover until age 65. First-year discounts are excluded. Actual premiums may differ based on underwriting, medical history, and individual selections and circumstances. For a rough estimate, you can use the IndusInd Nippon Life calculator.

Super Suraksha Plus (Life) offers higher premiums than offerings from some established insurers. By comparison, Axis Max Life Smart Term Plan Plus covers up to 64 critical illnesses with an optional rider, while ICICI Prudential iProtect Smart Plus and HDFC Life Click 2 Protect Supreme Plus offer a CI rider for up to 60 illnesses. The plans also offer advanced features, such as a special exit value.

Note: The figures in the table reflect the insurer’s overall insurer-level performance across products. The data is sourced from IndusInd Nippon public disclosures and IRDAI annual reports. For additional insurer-level metrics, you can explore the Ditto Data Lab.

Pros & Cons of IndusInd Nippon Life Super Suraksha Plus

Pros of Super Suraksha Plus

• Enhanced Coverage Benefit: Lets eligible buyers increase their cover after major milestones such as marriage, childbirth/legal adoption, or buying a home.
• Flexible Claim Payout: The nominee can choose the applicable payout structure at claim, offering greater flexibility than fixing the structure at inception.
• ₹1 Lakh InstaPayout: Provides an accelerated ₹1 lakh payout within the specified timeline, offering immediate liquidity after a claim is registered.
• ₹50 Lakh Minimum Cover: The minimum sum assured keeps the plan focused on meaningful financial protection rather than small ticket coverage.
• Multiple Accident Riders: Buyers can choose between accidental death, accidental disability, or disability with premium waiver based on their protection needs.

Cons of Super Suraksha Plus

Why Choose Ditto for Term Insurance?

At Ditto, we’ve assisted over 12,00,000 customers with choosing the right insurance policy. Why customers like Aaron below love us:

• 100% Free Consultation
• No Spam. No Sales Pressure.
• Rated 4.9/5 on Google Reviews by 30,000+ Happy Customers
• Backed by Zerodha
• Dedicated Claim Support Team
• Compare Plans and Premiums with a Trusted Insurance Advisor

Confused about the right insurance? Speak to Ditto’s certified advisors for free, unbiased guidance. Book your call now or chat with us on WhatsApp. Slots fill up fast!

Conclusion

From a product perspective, IndusInd Nippon Super Suraksha Plus offers useful protection features, but it misses some modern benefits such as cover continuance. It can work for specific buyers, but stronger alternatives may offer a more complete experience.

From an insurer's perspective, its claim settlement metrics and customer service are encouraging. However, IndusInd Nippon Life remains below our ₹5,000 crore annual business-volume benchmark. 

At Ditto, we would prefer to wait and watch as the insurer scales and builds a longer track record. For stronger overall insurer fundamentals, consider the best term insurance plans from established insurers.