In this policy the investment risk in investment portfolio will be borne by the policyholder
Smart One Pay helps you meet your protection and investment needs. It aims to generate wealth by investing in the funds of your choice along with provision of life cover.
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.
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.
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.
You can switch some or all of your investments from one fund to another, any number of times at zero charges.
You can withdraw money from your fund in case of financial emergency through Partial Withdrawal from 6th policy year onwards.
You can increase or decrease your sum assured, depending on your changing needs, from the 6th policy year onwards.
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.
In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:
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.
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%|
You can choose to invest in 6 investment funds with equity exposure ranging from 0 to 100%, depending on your investment philosophy:
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. 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.
|Single Premium ()||Sum Assured ()||Assuming Gross Investment Return for a 15 year Term ()|
|4%* p.a.||8%* p.a.|
*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%).