About the Plan

Insure Smart Plan is a unit linked insurance plan, it helps you save for your specific dreams with the flexibility of paying premiums for 5 years and getting life cover for 10 years with freedom to invest in our 5 funds as per your investment needs.

Eligibility Criteria Minimum Maximum
Entry age (Life Assured) 8 years 70 years
Policy Term 10 years (Fixed)
Premium Payment Term 5 years (Fixed)
Annual Premium ` 50,000 No Limit
Sum Assured 10 x annual premium
(for ages below 45)

7 x annual premium
(for ages 45 and above)
35 x annual premium
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.


    We all want to be financially comfortable and ensure that we have adequate funds in place to enjoy our life. Our living expenses and financial goals are different for different stages of life, whether saving for retirement, raising a child or simply having the financial freedom to do as we want.

    The plan offers

    • Premium Options: There are attractive discounts on premium allocation charge in case you choose to pay renewal premiums through ECS/Standing Instructions.
    • Fund Switching:You can switch some or all of your investments from one fund to another, any number of times. The minimum amount that you can switch is ` 10,000.
    • Premium Redirection:You can modify the allocation of future premiums once in a policy year. The revised allocation proportion will apply to your subsequent premiums.
    • Increase/Decrease of Sum Assured: You can increase or decrease your Sum Assured from the 6 policy year, provided all due premiums are paid. This facility is available once every year subject to maximum of 3 times during the Policy Term.
    • Partial Withdrawal: You can make partial withdrawals for any unforeseen contingency, from the 6th policy year. In case the Life Assured is a minor, partial withdrawal will be allowed once he/she attains age 18. The minimum amount that you can withdraw is ` 10,000 and the maximum is such that the Fund Value after withdrawal does not fall below 120% of the annual premium.

    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

    Maturity Benefits

    Your policy will mature at the end of 10 years. You will receive the Fund Value based on the prevailing NAVs at maturity. Moreover, Loyalty Addition will also be payable.

    Loyalty additions

    You will get a loyalty addition of 1% of your total fund value at maturity.

    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.

    Note: #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. Vijay, age 40, chooses to pay annual premiums as shown below. He opts for a Sum Assured of 10 times the annual premium and a fixed Policy Term of 10 years & fixed Premium Paying Term of 5 years. The table below shows the maturity for multiple scenarios assuming annual gross investment return of 4% and 8% with 100% investment in Equity II Fund and ECS as Premium Payment Mode.

    Annual Premium (`) Sum Assured (`) Fund Value (`) at Maturity
    4% 8%
    50,000 5,00,000 2,67,385 3,66,606
    75,000 7,50,000 4,01,078 5,49,909
    1,00,000 10,00,000 5,34,771 7,33,212
    2,00,000 20,00,000 10,69,541 14,66,425
    5,00,000 50,00,000 26,73,853 36,66,062

    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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