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Grow Smart - Whole Life ULIP Plan

In this policy the investment risk in investment portfolio will be borne by the policyholder
UIN: 136L016V04

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.

Grow Smart Plan Product Parameters Product Parameters

Grow Smart Plan Age Criteria

Age Criteria

  • Entry Age (Life Assured)


    7 years


    65 years
Grow Smart Plan Term

Policy Term

Whole of Life
Grow Smart Plan Sum Assured

Sum Assured

  • Minimum
    For ages below 45 years:Higher of:10 times Annualized Premium0.5 XTX Annualized Premium where (T=70 - age at entry)
    For ages 45 years & above:Higher of: 7 times Annualized Premium 0.25 *T* Annualized Premium where (T=70 - age at entry)
  • Maximum
    No maximum limit,
    subject to underwriting

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

Grow Smart Plan Premium Payment Details

Premium Payment Details

  • Annual Premium




    No Limit
  • Premium Payment Term


    10 years


    99 Age at entry
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.

Life is all about the choices you make. With every choice you make your biggest concern is whether you have taken the right decision to fulfill your responsibilities. Keeping this in mind, the life insurance plan has been designed to provide you and your spouse with financial security throughout your retirement.

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.

Whole 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.

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 as on date of intimation of death claim or
  • 105% of all premiums paid upto date of death
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% 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
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. Singh, age 40, chooses to pay annual premiums as shown below. He opts for a Sum Assured of 15 times the annual premium and a Premium Paying Term of 20 years. The table below shows surrender values as at the policy anniversary immediately after Mr. Singh's 99th birthday 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 age 99 assuming Gross Investment Return of
4%* 8%*
30,000 4,50,000 17,48,011 1,21,06,310
75,000 11,25,000 43,70,029 3,02,65,774
1,00,000 15,00,000 58,26,705 4,03,54,366
2,50,000 37,50,000 1,46,64,062 10,10,21,355
5,00,000 75,00,000 2,96,11,440 20,26,64,630

*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%).