In this policy the investment risk in investment portfolio will be borne by the policyholder
As a parent you want to be the pillar of strength and support for your child, making sure that his/her future plans remain undisturbed even when you are not around.
Our Future Smart Plan is a unit linked child plan that provides long-term investment opportunity to build a bright future for your child. Its comprehensive insurance cover (Sum Assured on death and Premium Funding on death or disability) ensures that your plan for your child's future continues unaffected, in any unfortunate event.
Now generate capital appreciation in the long term through equity investments by investing in a diversified portfolio of Small Cap,Mid Cap and Large Cap companies.
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.
You can modify the allocation of future premiums once in a policy year. The revised allocation proportion will apply to your subsequent premiums.
You can make partial withdrawal for any unforeseen contingency, from the 6th policy year. 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.
You can increase or decrease your Sum Assured from the 6th 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. There will be no change in your annual premium as a result of change in Sum Assured.
This option helps you maintain your investments in your preferred proportion across funds irrespective of market movements.
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.
This plan helps you remain at peace knowing that your child's immediate and future financial needs are taken care of even in case of your demise or disability as:
At any point of time, the death benefit will not be less than 105% of the total premiums paid by you.
At the end of the Policy Term, you will receive the Fund Value that you can use to fulfill your dreams for your child.
There are attractive discounts on premium allocation charge in case you choose to pay renewal premiums through ECS/Standing Instructions.
This benefit ensured that the future of your child is not compromised, in case of your death. The policy continues with all the future premiums funded by the company and your child received the fund value at maturity as planned by you.
If you have also opted for Premium Funding Benefit for disability, then in case of your Total & Permanent Disability, all future premiums will be funded by the Company. The Life Cover will continue and Sum Assured will be payable on subsequent death and fund value will be paid at maturity to your child.
You can choose to invest in 6 investment funds with equity exposure ranging 0% to100%, depending on your investment philosophy:
Keeping in mind the expenses for higher education of your child, you can opt for milestone withdrawals (Applicable for policy term 15, 20 and 25 years) wherein you will receive 15T of fund value in each of the last 5 years. The remaining fund value will be given to you at maturity.
You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80C of income Tax Act, 1961.
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 Premium Paying Term of 20 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, ECS as Premium Payment Mode and Coverage Option Death.
|Annual Premium ()||Sum Assured ()||Fund Value () at Maturity|
*The assumed rates of return (4% p.a. or 8% p.a.) shown in the above illustrative examples of different scenarios 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 Goods and Services Tax & Applicable cess (es)/levy, if any @18%).