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Future Smart - Investment Plan for Child

In this policy the investment risk in investment portfolio will be borne by the policyholder
UIN: 136L018V04

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.

Future Smart Plan Product Parameters Product Parameters

Future Smart Plan Age Criteria

Age Criteria

  • Entry Age (Life Assured)


    18 years


    60 years
    Child (Beneficiary at proposal stage) should be less than 18 years
Future Smart Plan Term

Policy Term

10/ 15 / 20 / 25 years
Future Smart Plan Sum Assured

Sum Assured

  • Minimum
    For ages below 45:10,15,20 years term: 10 x Annualized Premium 25 years term: 12.5 x Annualized Premium
    For ages 45 & above:7 x Annualized Premium
  • Maximum
    No maximum limit,
    subject to underwriting

Annualized Premium means the amount of premium payable in the policy year that is selected by policyholder at the inception of the policy.

Future Smart Plan Premium Payment Details

Premium Payment Details

  • Annual Premium


    25,000 (50,000 for policy term of 10 years)


    No Limit
  • Premium Payment Term


    10 years


    25 years(maximum up to term policy)
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.

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.

India Multi-Cap Equity Fund

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.

Fund Switching

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.

Premium Redirection

You can modify the allocation of future premiums once in a policy year. The revised allocation proportion will apply to your subsequent premiums.

Partial Withdrawal

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.

Change in Sum Assured

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.

Auto Fund Rebalancing

This option helps you maintain your investments in your preferred proportion across funds irrespective of market movements.

Safety Switch Option

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.

Death Benefits

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:

  • Sum Assured is paid on death
  • All future premiums are funded by the Company as and when due, in case of death or disability (if opted)
  • Fund Value is paid at maturity

At any point of time, the death benefit will not be less than 105% of the all premiums paid upto date of death by you.

Maturity Benefit

At the end of the Policy Term, you will receive the Fund Value that you can use to fulfill your dreams for your child.

Premium Options

There are attractive discounts on premium allocation charge in case you choose to pay renewal premiums through ECS/Standing Instructions.

Premium Funding Benefit

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.

Investment Funds

You can choose to invest in 6 investment funds with equity exposure ranging 0% to100%, depending on your investment philosophy:

  • India Multi-Cap Equity Fund
  • Equity II Fund
  • Growth Plus Fund
  • Balanced Plus Fund
  • Debt Plus Fund
  • Liquid Fund
Milestone Withdrawal

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.

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. 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
4%* 8%*
25,000 2,50,000 5,37,235 8,48,645
50,000 5,00,000 10,74,470 16,97,290
75,000 7,50,000 16,11,704 25,45,935
1,00,000 10,00,000 21,48,939 33,94,581
2,00,000 20,00,000 42,97,878 67,89,161
5,00,000 50,00,000 1,07,44,695 1,69,72,903

*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%).