About the Plan

Smart One Pay helps you meet your protection and investment needs and aims to generate wealth by investing in the funds of your choice along with provision of life cover.

Eligibility Criteria Minimum Maximum
Entry age (Life Assured) 7 years 70 years
Policy Term 5 years 25 years
Premium Payment Term Single premium only
Annual Premium ` 100,000 No Limit,
subject to underwriting
Sum Assured 1.25 x Single Premium 10 x Single Premium (depending upon your age and Policy 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.

  • WHY BUY

    You want to be financially comfortable and ensure that you have adequate funds in place to fulfill your dreams and to enjoy your life. Your living expenses and financial goals vary with different stages of your life, whether saving for retirement, raising a child or simply having the financial freedom to do as you want.

    The plan offers

    • Single Premium Payment Option: This plan gives you the ability to pay only once, that is, a single premium at the beginning of your policy and provides you life cover throughout the policy term as chosen by you.
    • Unlimited Free Switching: You can switch some or all of your investments from one fund to another, any number of times at zero charges.
    • Partial Withdrawal: You can withdraw money from your fund in case of financial emergency through Partial Withdrawal from 6th policy year onwards.
    • Increase/Decrease of Sum Assured: You can increase or decrease your sum assured, depending on your changing needs, from the 6th policy year onwards.
    • Auto Funds Rebalancing: This option helps you maintain your investments in your preferred proportion across funds irrespective of market movements.
    • Safety Switch Option: This option enables you to potentially lock in your gains by moving your funds systematically to a relatively low risk Liquid Fund in the last 4 years.
  • BENEFITS

    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 single premium paid by you

    Maturity Benefits

    Your policy will mature at the end of the policy term as chosen by you at inception. You will receive the fund value based on the prevailing NAVs at maturity.

    Loyalty Additions

    Your fund value will be enhanced by Loyalty Additions as per table below. Loyalty Additions will be added at end of each policy month, starting from 61st policy month till the end of the policy term and will be a percentage of fund value.

    Policy month Loyalty Additions per month as a percentage of fund value
    61st to 120th 0.025%
    121st till end of policy term 0.06%

    Investment Funds:

    You can choose to invest in 5 investment funds with equity exposure ranging from 0 to 100%, 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.

  • HOW IT WORKS

    Mr. Bahri, age 45 chooses to pay a single premium of ` 10,00,000 as shown below. He opts for a Sum Assured of 125% of the single premium. The table below shows maturity values assuming annual gross investment return of 4% and 8% with 100% investment in Equity II Fund.

    SinglePremium (`) Sum Assured (`) Assuming Gross Investment Return for a 15 year Term (`)
    4% 8%
    10,00,000 12,50,000 14,27,162 25,33,421

    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 applicable charges and service tax including cess (@14.5%).

  • BROCHURE & PDFs

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Claims Process

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

Claims Process

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

Get a Call Back

*
*
*

I agree that even if my contact number is registered with NDNC/NCPR, I would still want the Company to contact me on the given number for the clarifications/product information sought by me.