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Product Information
Other Plans Grow Smart Plan (ULIP)
Synopsis:
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Grow Smart plan is a whole life unit linked plan which provide insurance cover throughout your life. This is an affordable insurance plan in which you can pay premiums for a limited duration and get lifelong insurance cover.

Benefits:

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  • Death Benefits
    1. In the unfortunate event of your death while your policy is in-force, your nominee will receive higher of:
    2. Sum Assured less applicable partial withdrawals Fund value 105% of premiums paid by you Loyalty Additions
    3. 1% of your Fund Value added by way of additional allocation of units at the end of 15th policy year to boost your investments
  • Investment Funds
    1. You can choose to invest in 5 investment funds with equity exposure ranging 0% to 100%, depending on your investment philosophy:
    2. Equity II Fund Growth Plus Fund Balanced Plus Fund

Highlights:

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  • Whole of Life Protection: Life Cover throughout your life
  • Flexible Premium Payment Term: You can choose a premium paying term (10 years or more) to suit your earning capacity
  • Choose Life Cover: You have the flexibility to choose your Life Cover based on your protection needs.
  • Switching/Premium Redirection: You can actively manage your investments by switching your money from one fund to another and through redirection of premiums.
  • 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 choose from a range of life cover as per your protection needs. Also you have the flexibility to increase or reduce your Sum Assured, depending upon your changing needs.
Eligibility:
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Eligibility Criteria Minimum Maximum
Entry age (Life Assured) 7 years 65 years
Policy Term Whole of Life
Premium Payment Term 10 years 99 - (Age at entry)
Annual Premium 25,000 No Limit
Sum Assured For ages below 45 years: 0.5 X T X Annual Premium (T = 70 - age at entry)
For ages 45 years & above: 7 X Annual premium
No maximum limit, subject to underwriting