About the Plan

Our Smart Goals Plan with its flexible features has been designed to help you plan your financial requirements so that you have the means to fund your goals, with no compromises.


This product provide you the following two options depending upon your requirement.

Product Summary
  Option 1 Option 2
Policy Term 10 Years (Fixed) 15/ 20 / 25 years
Premium Payment Term 5 Years (Fixed) 10 years to 25 years (Premium payment term will always be lower than or equal to policy term)
Premium Paying Modes Monthly and Annual Monthly and Annual
  Minimum Maximum Minimum Maximum
Entry Age
(Life Assured)
8 years 64 years 8 years 64 years
Maturity Age 18 years 74 years 23 years 79 years
Premium Annual Mode Monthly Mode* Annual Mode Monthly Mode* Annual Mode Monthly Mode* Annual Mode Monthly Mode*
` 50,000 p.a. ` 5,000 p.m. No Limit ` 25,000 p.a. ` 3,000 p.m. No Limit
Sum Assured For ages below 45: 10 x Annualized Premium#

For ages 45 and above:
7 x Annualized Premium#
Depends upon the age of the Life Assured For ages below 45:
Higher of (0.5 x policy term x Annualized Premium#)
10x Annualized Premium

For ages 45 and above:
7 x Annualized Premium#
Depends upon the age of the Life Assured

*Please note that it is mandatory to pay first 3 month's premium in advance if you have chosen monthly mode of premium payment.

#Annualized premium is the sum of total due premium(s) in a policy year during premium payment term.

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 goals for yourself and your loved ones. You would like to ensure that nothing comes in the way of achieving these goals - buying the perfect house for your family or enrolling your child in a college abroad. Whatever be your goal, you would not want to compromise financially for any of these important milestones in your life.

    The plan offers

    • Life Cover: You can choose your Life Cover based on your protection needs
    • Premium Payment Term: You can choose a Premium Paying Term (5, 10 years or more upto 25 years) to suit your earning capacity.
    • Switching/Premium Redirection: You have the option of switching and redirection between the fund options to take advantage of market movements or change in risk preference.
    • 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 increase or decrease your sum assured, depending on your changing needs, from the 6th policy year onwards subject to minimum and maximum sum assured limits stipulated under this plan.
    • Auto Funds Rebalancing: You can maintain allocation of your investments in a specific proportion across funds, irrespective of market movements.
    • Safety Switch Option: You have the option to switch your money to low risk fund as your policy nears maturity.

    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

    On survival till end of policy term, the Fund Value will be paid to you.

    Premium Paying Mode

    You have the flexibility to choose annual or monthly mode to pay premiums as per your requirement or to suit your income stream. You can also change your premium payment mode anytime during the policy term.

    Loyalty Additions

    Loyalty Additions will be paid in the form of extra allocation of units to your fund, provided that all due premiums till date have been paid. The Loyalty additions will be paid as follows:

    Product Option Frequency Policy Year Loyalty Addition
    Option 1 Once in policy term At the end of 10th policy year 2% of average Fund Value of the last 36 monthly policy anniversaries
    Option 2 Twice in policy term 1st Loyalty addition: At the end of 10th policy year 1.25 % of average Fund Value of the last 36 monthly policy anniversaries
    2nd Loyalty addition: At the end of 15th policy year 1.25% of average Fund Value of the last 36 monthly policy anniversaries

    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 80C 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, opts for Option 2 and chooses to pay annual premiums as shown below. He opts for a Sum Assured of 10 times the annual premium with policy term of 20 years 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 (`) Fund Value (`) at the end of 20 years assuming Gross Investment Return of
    4% 8%
    30,000 3,00,000 4,01,156 7,31,725
    75,000 7,50,000 10,02,890 18,29,312
    1,00,000 10,00,000 13,37,187 24,39,083
    2,50,000 25,00,000 33,42,968 60,97,706
    5,00,000 50,00,000 66,85,936 121,95,413

    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 all charges including applicable service tax and education 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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