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
- 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 Loyalty Additions
- 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
- You can choose to invest in 5 investment funds with equity exposure ranging 0% to 100%, depending on your investment philosophy:
- 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 |