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Smart Future - Long Term Investment Plan

In this policy the investment risk in investment portfolio will be borne by the policyholder

UIN: 136L037V05

As an individual you want to be the pillar of strength and support for your family, making sure that their future plans remain undisturbed even when you are not around.

Smart Future Plan Product Parameters Product Parameters

Smart Future Plan Age Criteria

Age Criteria

  • Entry Age (Life Assured)
    Minimum   Maximum  
    18 years Policy Term
    Age at Entry
    Age at Maturity
    10 51 61
  • Maturity Age (Life Assured)
    Minimum   Maximum  
    28 years Policy Term
    Age at Entry
    Age at Maturity
    15 51 66
    20 49 69
    25 45 70
Smart Future Plan Policy Term

Policy Term

You can choose any policy term of 10/15/20/25 years
Smart Future Plan Sum Assured

Sum Assured

  • Minimum
    For ages below 45:Higher of (0.5 x policy term x Annualized Premium) OR 10 x Annualized Premium
    For ages 45 & above:7 x Annualized Premium
  • Maximum
    The maximum Sum Assured varies basis age and chosen policy term and is subject to underwriting acceptance. Please refer the product brochure for compete details on maximum Sum Assured multiple available under this product.
Smart Future Plan Optional In-built Cover

Premium and Benefits

  • Premium


    Policy Term Payment Mode
    Annual Monthly
    10 years 50,000 p.a. 5,000 p.m.
    15/20/25 years 25,000 p.a. 3,000 p.m.


    No Limit
  • Premium Funding Benefit
    You can choose the Premium Funding Benefit only at inception for:

    Option I: Death only

    Option II: Death or Total & Permanent Disability (TPD)

    The option once chosen cannot be changed or opted out later.
Smart Future Plan Premium Payment Details

Premium Payment Details

  • Premium Payment Mode
    Monthly and Annual
  • Premium Payment Term
    You can choose any premium paying term from10 years to 20 years (in complete years only). Premium payment term should always be lower than or equal to policy term.

Our Future Smart Plan is a unit linked plan that provides long-term investment opportunity to fulfill various family needs like building an asset or to ensure a bright future for your child. Its comprehensive insurance cover (Sum Assured on death and Premium Funding benefit on death or disability) ensures that your plan for your family continues unaffected, in any unfortunate event.

Emerging Leaders Equity Fund

Generate long term capital appreciation through investments predominantly in mid cap stocks.

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 Rs. 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.

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.

Partial Withdrawal

You can make partial withdrawal for any unforeseen contingency, from the 6th policy year. The minimum amount that you can withdraw is Rs. 10,000 and the maximum is such that the Fund Value after withdrawal does not fall below 120% of the annual premium.

Auto Fund Rebalancing

If you wish to maintain allocation of your investments in a specific proportion across funds, irrespective of market movements, you can do so through Auto Funds Rebalancing. Once opted, after every 3 months, it automatically rebalances the allocation of your investments in various funds to the allocation proportions chosen by you.

Safety Switch Option

As your policy nears maturity, you may want to avoid market movements and safeguard your funds. The Safety Switch Option enables you to move your funds systematically to a relatively low risk Liquid Fund in the last four policy years.

Death Benefit

This plan helps you remain at peace knowing that your family'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 total premiums paid 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.

Policy Term & Premium Options

Basis your family's needs, you can choose the Policy Term (10/15/20/25yrs). Further, you can also choose a Premium Paying Term from 10 to 20 years to suit your earning capacity.

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 7 investment funds with equity exposure ranging from 0% to100%, depending on your investment philosophy:

  • Emerging Leaders Equity Fund
  • 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 80 C 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, 35 years old, opts for premium funding benefit option I and chooses to pay annual premiums as shown below. He opts for a Sum Assured of 10 times the annual premium with policy term and Premium paying term of 15 years each. The table below shows maturity values for multiple scenarios assuming annual gross investment return of 4%* and 8%* with 100% investment in Equity II Fund.

Annual Premium () Sum Assured () Fund Value () at the end of 15 years assuming Gross Investment Return of
4%* 8%*
25,000 2,50,000 4,05,717 5,64,385
50,000 5,00,000 8,11,434 11,28,770
75,000 7,50,000 12,17,151 16,93,154
1,00,000 10,00,000 16,22,868 22,57,539
2,00,000 20,00,000 32,45,736 45,15,079
5,00,000 50,00,000 81,14,341 1,12,87,697

*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%).