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Smart Goals Plan

Smart Goals Plan

In this policy the investment risk in investment portfolio will be borne by the policyholder

UIN: 136L031V04

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.

Smart Goals Plan Product Parameters Product Parameters

Smart Goals Plan Age Criteria

Age Criteria

Option 1

  • Entry Age (Life Assured)

    Minimum

    8 years

    Maximum

    64 years
  • Maturity Age

    Minimum

    18 years

    Maximum

    74 years

Option 2

  • Entry Age (Life Assured)

    Minimum

    8 years

    Maximum

    64 years
  • Maturity Age

    Minimum

    23 years

    Maximum

    79 years
Smart Goals Plan Policy Term

Policy Term


  • Option 1
    10 years (Fixed)
  • Option 2
    15/ 20 / 25 years
Smart Goals Plan Sum Assured

Sum Assured

Option 1

Minimum

For ages below 45: 10 x Annualized Premium#
For ages 45 and above: 7 x Annualized Premium#

Maximum

Depends upon the age of the Life Assured

Option 2

Minimum

For ages below 45: Higher of (0.5 x policy term x Annualized Premium#) OR 10x Annualized Premium
For ages 45 and above: 7 x Annualized Premium#

Maximum

Depends upon the age of the Life Assured
#Annualized premium is the sum of total due premium(s) in a policy year during premium payment term.
Smart Goals Plan Premium Payment Details

Premium Payment Details

Option 1

  • Premium

    Minimum

    Annual Mode: 50,000 p.a.

    Monthly Mode*: 5,000 p.m.

    Maximum

    No Limit
  • Premium Payment Term
    5 years (Fixed)
  • Premium Paying Modes
    Monthly and Annual

Option 2

  • Premium

    Minimum

    Annual Mode: 25,000 p.a.

    Monthly Mode*: 3,000 p.m.

    Maximum

    No Limit
  • Premium Payment Term
    10 years to 25 years (Premium payment term will always be lower than or equal to policy term)
  • Premium Paying Modes
    Monthly and Annual
*Please note that it is mandatory to pay first 3 month's premium in advance if you have chosen monthly mode of premium payment.
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:

Emerging Leaders Equity Fund

Generate long term capital appreciation through investments predominantly in mid cap stocks.

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 7 investment funds with equity exposure ranging from 0% to100%, depending on your investment philosophy:

  • Emerging Leaders Equity Fund
  • India Multi-Cap Equity Fund
  • 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.

# 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 3,96,813 7,23,846
75,000 7,50,000 9,92,033 18,09,616
1,00,000 10,00,000 13,22,710 24,12,822
2,50,000 25,00,000 33,06,776 60,32,054
5,00,000 50,00,000 66,13,551 1,20,64,108

*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%).