About the Plan

Grow Smart plan is a whole life unit linked plan which provide insurance cover throughout your life. This is an affordable insurance plan in which you can pay premiums for a limited duration and get lifelong insurance cover.

Eligibility Criteria Minimum Maximum
Entry age (Life Assured) 7 years 65 years
Policy Term Whole of Life
Premium Payment Term 10 years 99 - (Age at entry)
Annual Premium ` 25,000 No Limit
Sum Assured For ages below 45 years: 0.5 X T X
Annual Premium (T = 70 - age at entry)
For ages 45 years & above:
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.


    Life is all about the choices you make. And with every choice you make your biggest concern is whether you have taken the right decision to fulfill your responsibilities. Keeping this in mind, this whole life insurance plan has been designed to enable you to provide you and your spouse with financial security throughout your retirement.

    • Whole of Life Protection: Life Cover throughout your life
    • Flexible Premium Payment Term: You can choose a premium paying term (10 years or more) to suit your earning capacity
    • Choose 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

    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. Singh, age 40, chooses to pay annual premiums as shown below. He opts for a Sum Assured of 15 times the annual premium and a Premium Paying Term of 20 years. The table below shows surrender values as at the policy anniversary immediately after Mr. Singh's 99th birthday for multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in Balanced Plus Fund.

    Annual Premium (`) Sum Assured (`) Fund Value (`) at age 99 assuming Gross Investment Return of
    4% 8%
    30,000 4,50,000 17,96,499 1,24,39,048
    75,000 11,25,000 44,91,248 3,10,97,620
    1,00,000 15,00,000 59,88,331 4,14,63,494
    2,50,000 37,50,000 1,50,65,604 10,37,90,745
    5,00,000 75,00,000 10,37,90,745 20,81,91,498

    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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