About the Plan

The Dream Smart plan, a unit linked insurance plan (ULIP) helps save for your specific dreams. With this plan you have the flexibility to pay premiums for a limited duration while you get life cover for 20 years. Your money is invested in unit linked funds of your choice to take care of your long term financial goals.

Eligibility Criteria Minimum Maximum
Entry age (Life Assured) 7 years 60 years
Maximum Maturity Age 80 years
Policy Term 20 years (fixed)
Premium Payment Term 10 years 20 years
Annual Premium ` 25,000 No Limit
Sum Assured For ages below 45 years:
10 X Annual Premium
For ages 45 years to 60 years:
7 X Annual premium
No maximum limit,
subject to underwriting

In this policy, the investment risk in Investment Portfolio is borne by the policyholder.

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.


    Your future is defined by your dreams for yourself and your loved ones. You would like to ensure that nothing comes in the way of achieving these dreams - buying the perfect house for your family or enrolling your child in a college abroad. And in order to fulfill this you are in the search of the best life insurance policy that fits all your requirements.

    • Flexible Premium Payment Term: You can choose a Premium Paying Term (10 years or more) to suit your earning capacity and your life stage
    • Choose your Life Cover: You have the flexibility to choose your Life Cover based on your protection needs.
    • Switching/Premium Redirection: You can actively manage your investments by switching your money from one fund to another and through redirection of premiums.
    • Partial Withdrawals: You can easily withdraw money from your fund in case of financial emergency through partial withdrawals, after 5 years.
    • Increase/Decrease of Sum Assured: You can choose from a range of life cover as per your protection needs. Also you have the flexibility to increase or reduce your Sum Assured, depending upon your changing needs.

    Death Benefits

    In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:

    • Sum Assured less applicable partial withdrawals
    • Fund value
    • 105% of premiums paid by you

    Loyalty Additions

    1% of your Fund Value added by way of additional allocation of units at the end of 15th policy year to boost your investments

    Maturity Benefits

    On survival till end of Policy Term, the Fund Value will be paid to you.

    Investment Funds

    You can choose to invest in 5 investment funds with equity exposure ranging 0% to100%, depending on your investment philosophy:

    • Equity II Fund
    • Growth Plus Fund
    • Balanced Plus Fund
    • Debt Plus Fund
    • Liquid Fund

    Tax Benefits#

    You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of income Tax Act, 1961. Please note that tax laws are subject to amendments from time to time.

    #Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.


    Mr. Mehta, age 40, chooses to pay annual premiums as shown below. He opts for a Sum Assured of 10 times the annual premium and a premium paying term of 10 years. The table below shows maturity values for multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in Balanced Plus Fund.

    Annual Premium (`) Sum Assured (`) Assuming Gross Investment Return (`) for a 20 year term (`)
    4% 8%
    30,000 3,00,000 3,95,862 7,22,791
    75,000 7,50,000 9,89,654 18,06,976
    1,00,000 10,00,000 13,19,539 24,09,302
    2,50,000 25,00,000 32,98,847 60,23,255
    5,00,000 50,00,000 65,98,814 1,20,47,745

    The assumed rates of return (4% p.a. and 8% p.a.) shown in the above illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy depends on a number of factors including future investment performance. The Fund Values shown in the above illustrative example are after deduction of service tax and cess (@14.5%).


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Claims Process

  • Step1: Claim Intimation & Registration
  • Step2: Fund Value Disbursement & Documentations
  • Step3: Processing & Settlement
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