What problem it solvesGives you a known (or mostly-known) amount on a known date, with a life cover riding along.
How it worksYou pay premiums for a set period; the insurer invests the pooled money conservatively (largely government bonds and high-grade debt) and pays you a guaranteed sum plus, in participating plans, a share of profits called bonuses.
What you're paying forSafety and predictability. The insurer is taking on the investment risk, not you — which is why the return is modest.
What's guaranteedThe base sum assured / guaranteed maturity value stated in the policy document, and the death benefit.
What's not guaranteedBonuses in a participating ("with-profit") plan — these are declared yearly based on the insurer's actual investment performance and can be lower than illustrated, though once declared and vested they usually can't be taken away.
If you stop payingAfter a minimum number of years' premiums (commonly 2-3), the policy usually converts to a reduced "paid-up" policy rather than lapsing outright — smaller benefits, but not zero.
LiquidityLow in the early years. Most plans acquire a surrender value only after 2-3 years, and surrendering early usually returns much less than what you paid in.
Why does this exist?
Traditional plans exist for people who will not keep a separate, undisciplined investment going for 15-20 years, and who want the psychological weight of a contract with a penalty attached. A mutual fund SIP is easy to pause the month school fees spike; an insurance premium feels like a bill you can't skip. The "lower return" of a traditional plan is partly the price of that forced discipline — not simply bad math.
Who might consider it
People who want a floor they can plan a specific dated goal around (a child's education year, a fixed retirement date), who won't maintain a separate SIP with the same discipline, or who want the legal shape of a life insurance contract (nomination, MWPA protection) for that saving.
Who it's usually not for
Anyone trying to maximise long-run wealth who will actually stick to an equity SIP alongside separate term cover — traditional plans are structurally not built to beat equity markets, and were never meant to.
Structures inside this category:
Non-Par GuaranteedGuaranteed Lump SumGuaranteed IncomeReturn of PremiumParticipatingEndowmentWhole LifeMoney-BackMilestone / periodic benefit
Read the full explainer on savings — traditional →
Product data last fetched 26 August 2026. Tap a card to open it.
A participating, non-linked plan built around one idea: a guaranteed income for life, starting as early as 7 days after you take it out.
You might need this if
- You want an income in retirement that doesn't rise and fall with the market — kept separate from the growth investments you already hold.
- You'd like that income to start almost immediately (within 7 days), or you'd rather defer it so it grows larger before you start drawing it.
- You're worried a flat payout won't keep up with rising costs — there's an option for the income itself to increase 5% every year.
- You don't want to be forced to spend the income the moment it lands — it can stay invested inside the plan, be withdrawn on your terms, or be used to cover future premiums.
- You want a life cover bundled in, so the plan still protects your family if something happens to you before it matures.
How it actually works
- Income timing — Immediate (within 7 days / from year 1) or Deferred (from year 2, or up to a year after you finish paying premiums, for a larger payout).
- Income growth — choose Level, or Increasing Guaranteed Income at 5% p.a. compounding.
- Maturity lump sum — a chosen 80%–120% of total premiums paid, plus a terminal bonus, when the policy ends.
- Savings wallet — unused income can accumulate and compound inside the plan instead of being paid out.
- Optional riders — Waiver of Premium, and Accidental Death & Disability (up to 3x base cover).
Worked example
Animesh, age 35 pays ₹1,00,000/yr for 10 years (₹10,00,000 total), ₹10,50,000 life cover, Immediate Income option.
Illustrated:
≈ ₹34,040/yr income + maturity lump sum
≈ ₹1.52 Cr around age 99 — at an
assumed 8% return.
At a more conservative assumed 4% return:
₹12,190/yr income,
₹0.76 Cr maturity value.
The 8%/4% figures are IRDAI-prescribed illustrative assumptions, not guaranteed returns — worth looking at both, not just the higher one.
Worth knowing
- Tax benefit of up to ₹46,800/yr on premiums, plus benefits on payouts.
- Loan available up to 80% of surrender value once eligible.
- Missed premiums after one full year paid → continues as a reduced, paid-up policy rather than lapsing.
Savings
Single Premium Endowment Plan
+
A savings-cum-protection plan funded with one lump-sum payment upfront, paying out a guaranteed sum plus bonuses either at maturity or on earlier death.
You might need this if
- You have a lump sum available now (like a bonus, inheritance, or maturity payout from elsewhere) and want to invest it as a one-time premium rather than committing to years of payments.
- You want both a death benefit for your family and a guaranteed savings payout if you survive to maturity, in a single plan.
- You want a plan that participates in LIC's annual bonus declarations, adding to your guaranteed base amount over time.
- You may want to borrow against the policy later without redeeming it — a loan facility is available a few months after purchase.
How it actually works
- Entry age is 30 days to 65 years; policy term ranges 10–25 years; minimum sum assured ₹1,00,000 with no fixed maximum.
- It's a single-premium plan only — you pay once at the start and make no further premium payments.
- On maturity, you receive the basic sum assured plus any vested annual bonuses and a possible final additional bonus.
- On death before maturity, the payout is the higher of the basic sum assured or 1.25× the single premium (1.10× if you bought the policy at age 50+), plus vested bonuses.
- Optional riders include an Accidental Death & Disability Rider and a New Term Assurance Rider for extra death cover, combined capped at 30% of the base premium.
- You can borrow against the policy after 3 months, up to 50–80% of the surrender value depending on how long you've held it.
Worked example
For a ₹1 lakh sum assured, a 30-year-old pays a single premium of about ₹78,010 for a 10-year term, or about ₹50,695 for a 25-year term — the longer the term, the lower the upfront cost, since bonuses have more time to accumulate.
The tiers
| Sum Assured Band | High Sum Assured Rebate |
|---|
| ₹2–3 lakh | 20% |
| ₹3–5 lakh | 30% |
| ₹5 lakh+ | 40% |
Worth knowing
- This is sold offline only, through agents, corporate agents, brokers, and marketing firms — not available online.
- Surrendering early returns 75% of the single premium in the first 3 years, rising to 90% after that, plus any vested bonus value — so early exit means a loss.
- Suicide within 12 months of starting the policy pays only 80% of the single premium (or the surrender value if higher).
- For minors under 8 at entry, death before the risk-cover start date only refunds the premium paid, without interest.
Savings
New Endowment Plan
+
A classic savings-and-protection plan where you pay regular premiums over the years and get a guaranteed lump sum plus bonuses at maturity or on death.
You might need this if
- You want disciplined, regular saving over 12–35 years that builds toward a guaranteed lump-sum goal, alongside life cover during that time.
- You want a plan that participates in LIC's profits through annual bonuses, rather than one whose returns are entirely fixed at outset.
- You want the flexibility to add optional riders — like critical illness cover or a premium waiver on the proposer's death — onto a base savings plan.
- You want to be able to borrow against the policy's value later if you need liquidity, instead of surrendering it.
How it actually works
- Entry age 8–50 years; policy term 12–35 years; minimum sum assured ₹2,00,000 with no fixed cap.
- On maturity, you receive the basic sum assured plus vested annual bonuses and any final additional bonus declared.
- On death before maturity, the payout is the higher of the basic sum assured or 7× the annualised premium, with a guaranteed floor of 105% of premiums paid, plus bonuses.
- Five optional riders are available: Accidental Death & Disability, Accident Benefit, New Term Assurance, Premium Waiver Benefit, and a Critical Illness Health rider (covering 15 or 40 illnesses).
- Premiums can be paid yearly, half-yearly, quarterly, monthly, or via salary deduction; paying yearly or half-yearly earns a small rebate.
- You can take a policy loan after the first year, and death/maturity benefits can be paid out in instalments over 5, 10, or 15 years instead of a lump sum.
Worked example
A 30-year-old buying ₹2 lakh sum assured over a 35-year term pays about ₹6,213 a year; by maturity, illustrated (non-guaranteed) benefit projections range from roughly ₹2,80,500 at a conservative 4% assumed return to about ₹4,91,000 at an 8% assumed return, including bonuses.
Worth knowing
- The 4%/8% illustrated maturity figures are only assumed-return projections for illustration — not guaranteed; only the basic sum assured plus already-declared bonuses are guaranteed.
- Suicide within 12 months of starting or reviving the policy limits the payout to 80% of premiums paid (or the surrender value, if higher, for a revived policy).
- If you stop paying premiums after at least one full year, the policy becomes 'paid-up' with reduced benefits and no further bonus participation — it doesn't simply lapse to zero, but you lose value versus staying on-premium.
Savings
New Jeevan Anand
+
An endowment plan with a twist: the life cover doesn't stop at maturity — a base amount of death cover continues for the rest of your life even after you've collected the maturity payout.
You might need this if
- You want an endowment-style savings goal (a lump sum at a set future date) but also want life cover to continue beyond that date, instead of ending completely at maturity.
- You want your family protected for your whole life, without paying premiums forever — premiums stop at the end of the policy term, but the base cover continues.
- You want a plan that shares in LIC's bonus declarations, rather than one with fixed, non-participating returns.
- You want the option to add riders like critical illness or additional term cover onto a single combined policy.
How it actually works
- Entry age 18–50 years; policy term 15–35 years; minimum sum assured ₹2,00,000 with no fixed maximum.
- During the policy term, the death benefit is the higher of 125% of the basic sum assured or 7× annualised premium, plus vested bonuses, with a guaranteed floor of 105% of premiums paid.
- At maturity, you receive the basic sum assured plus vested bonuses and any final additional bonus — while a base amount of death cover keeps running for the rest of your life afterward at no extra premium.
- If death occurs after maturity (during the extended whole-life cover period), the basic sum assured is paid out again to your beneficiaries.
- Up to three optional riders can be added: Accidental Death & Disability, Accident Benefit, New Term Assurance, and Critical Illness Health riders.
- A policy loan is available after the first year, at up to 75% of surrender value for in-force policies.
Worked example
A 30-year-old buying ₹2 lakh sum assured over a 35-year term pays about ₹6,968 a year; at maturity (year 35), the illustrated total benefit ranges from roughly ₹3,22,840 at a 4% assumed return to about ₹5,48,000 at an 8% assumed return — and the basic sum assured continues as death cover for life afterward.
Worth knowing
- The extended lifetime cover after maturity is limited to the basic sum assured only — it doesn't include the bonuses already paid out at maturity.
- The 4%/8% figures are illustrative assumed-return projections, not guarantees.
- Suicide within 12 months of starting the policy limits the payout to 80% of premiums paid; within 12 months of a revival, it's the higher of 80% of premiums or the surrender value.
- Stopping premiums after at least one year converts the policy to paid-up status automatically, with proportionally reduced benefits.
A savings plan aimed at funding a child's or family's future goals, where a death during the policy term triggers an ongoing yearly income plus a lump sum still paid out at the original maturity date.
You might need this if
- You're saving toward a specific family goal (like a child's education) and want a plan that keeps that goal funded with yearly income even if you're not around to keep paying.
- You want your family to receive both immediate ongoing support (an annual income) and a lump sum at the plan's original maturity date if you die during the term — not just one or the other.
- You want a savings plan that participates in LIC's bonuses to grow your guaranteed base amount over time.
- You'd like to add optional riders such as accident or additional term cover on top of the base plan.
How it actually works
- Entry age 18–50 years; policy term 13–25 years; the premium paying term is always 3 years shorter than the policy term.
- Minimum sum assured is ₹2,00,000 with no fixed maximum.
- On death during the term, your family gets an annual income equal to 10% of the basic sum assured every year from the next policy anniversary until maturity, plus a lump sum of 110% of the basic sum assured at the original maturity date — with a guaranteed floor of 105% of premiums paid.
- On survival to maturity, you receive the basic sum assured plus vested bonuses and any final additional bonus.
- Three optional riders are available: Accidental Death & Disability, Accident Benefit, and New Term Assurance.
- Premiums can be paid yearly, half-yearly, quarterly, monthly (via NACH), or by salary deduction, with small rebates for yearly/half-yearly payment.
Worked example
For a ₹2 lakh sum assured, a 30-year-old pays about ₹9,222 a year for a 25-year term. If death occurred during the policy, the family would receive ₹20,000 a year (10% of sum assured) from the next anniversary through to the original maturity date, plus a ₹2,20,000 lump sum (110% of sum assured) at that maturity date.
The tiers
| Policy Term | Age 20 Annual Premium (₹2L SA) | Age 40 Annual Premium (₹2L SA) |
|---|
| 13 years | ₹20,217 | ₹20,678 |
| 15 years | ₹16,670 | ₹17,209 |
| 20 years | ₹11,711 | ₹12,495 |
| 25 years | ₹9,006 | ₹10,074 |
Worth knowing
- Because the premium paying term ends 3 years before the policy term, there's a stretch near the end where you have coverage but aren't paying — but this also means premiums are compressed into a shorter, higher-cost window.
- If premiums lapse after at least one year, the policy becomes paid-up with proportionally reduced income and lump-sum benefits, and stops earning further bonuses.
- Suicide within 12 months of starting the policy limits the payout to 80% of premiums paid.
- Surrender before 2 full years of premiums generally yields no guaranteed value; the guaranteed surrender value only kicks in after that.
A savings-cum-protection plan where you stop paying premiums well before the cover ends — for example, pay for just 16 years while the policy runs for 25 — with a lump sum plus bonuses at maturity.
You might need this if
- You want your premium-paying obligation to end years before your coverage does, so you get a stretch of "paid-up but still fully covered" time near the end of the policy.
- You're planning around one of three fixed combinations (16/10, 21/15, or 25/16 years of policy term / premium term) and want predictability in when payments stop.
- You want a savings goal with a guaranteed lump sum plus participation in LIC's annual bonus declarations.
- You want the option to add riders like premium waiver (which cancels remaining premiums if the policyholder dies) alongside the base plan.
How it actually works
- Entry age starts at 8 years (completed); maximum entry age depends on which term you choose — up to 59 for the 16-year policy, 54 for 21-year, or 50 for the 25-year option.
- Minimum sum assured is ₹2,00,000 with no fixed maximum, in specified multiples.
- On maturity, you receive the basic sum assured plus vested annual bonuses and any final additional bonus.
- On death before maturity, the payout is the higher of the basic sum assured or 7× annualised premium, plus vested bonuses, with a guaranteed floor of 105% of premiums paid.
- Four optional riders are available: Accidental Death & Disability, Accident Benefit, New Term Assurance, and Premium Waiver Benefit (which cancels future premiums if the proposer dies).
- A policy loan is available after the first year, and maturity/death benefits can be spread over 5, 10, or 15 years in instalments instead of a lump sum.
Worked example
A 30-year-old choosing the 25-year policy term with a 16-year premium paying term and ₹2 lakh sum assured pays about ₹10,025 a year for 16 years; the illustrated total maturity benefit (sum assured plus bonuses) at year 25 ranges roughly from ₹2,20,000 to ₹3,70,000 depending on how LIC's bonus rates perform over the years.
The tiers
| Policy Term | Premium Paying Term | Max Entry Age |
|---|
| 16 years | 10 years | 59 |
| 21 years | 15 years | 54 |
| 25 years | 16 years | 50 |
Worth knowing
- Only three fixed policy-term/premium-term combinations are offered — you can't customise the split between paying years and coverage years beyond those three options.
- Suicide within 12 months of starting the policy limits the payout to 80% of premiums paid; within 12 months of a revival, it's the higher of 80% of premiums or the surrender value.
- Stopping premiums after at least one full year converts the policy to paid-up status with proportionally reduced benefits and no further bonus participation.
- The illustrated maturity range depends on assumed 4%/8% investment return scenarios used for illustration — actual bonuses are not guaranteed in advance.
A fixed-term, non-participating savings-cum-protection plan that pays a guaranteed lump sum plus fixed yearly additions at maturity, alongside a guaranteed death benefit throughout the term.
You might need this if
- You might need this if you want a fixed, guaranteed maturity payout timed to a specific milestone (child's education/marriage, retirement) 15-20 years out, without market risk.
- You might need this if you prefer certainty over the higher-but-variable returns of a participating (bonus-based) plan.
- You might need this if you want life cover starting from very early in life (entry from 30 days old).
- You might need this if you want the option to bolt on accident or premium-waiver riders cheaply.
How it actually works
- Entry age 30 days to 60 years; policy term 15, 18 or 20 years; premium payment term is always 5 years shorter than the policy term.
- Minimum Basic Sum Assured ₹1,25,000, no stated maximum.
- Every year the policy earns a fixed Guaranteed Addition of ₹50 per ₹1,000 of Basic Sum Assured, added to the payout regardless of market performance.
- Death benefit is the higher of 125% of Basic Sum Assured or 7x the annualised premium, plus accrued guaranteed additions, with a floor of 105% of premiums paid.
- Maturity benefit is Basic Sum Assured plus all accrued guaranteed additions.
- Optional riders: accidental death & disability, accident benefit, term assurance, premium waiver (combined rider premium capped at 30% of base premium).
Worked example
For a 30-year-old buying ₹10 lakh Basic Sum Assured with a 20-year term (15-year premium payment), the annual premium is about ₹78,280 a year (excluding taxes).
The tiers
| Age | 15-yr term (10-yr pay) | 18-yr term (13-yr pay) | 20-yr term (15-yr pay) |
|---|
| 20 | ₹1,15,128 | ₹88,423 | ₹77,643 |
| 30 | ₹1,15,520 | ₹88,962 | ₹78,280 |
| 40 | ₹1,17,578 | ₹91,412 | ₹81,122 |
| 50 | ₹1,24,095 | ₹98,566 | ₹88,913 |
Worth knowing
- This is a non-participating plan: no bonuses or surplus sharing — additions are fixed and guaranteed from the start.
- Guaranteed surrender value only kicks in after 2 years' premiums are paid, and early surrender factors can be as low as 30%.
- Policy loans are capped at 80% of surrender value and only after 2 premiums are paid.
Savings
Nav Jeevan Shree
+
A non-participating endowment plan with a choice of higher death-benefit multiples, guaranteed yearly additions, and flexible premium terms from 6 to 15 years.
You might need this if
- You might need this if you want to choose between a standard or a higher death-benefit multiple (7x vs 10x annual premium) depending on how much protection vs savings you want.
- You might need this if you want to finish paying premiums quickly (as short as 6 years) while cover continues for up to 20 years.
- You might need this if you want guaranteed (not market-linked or bonus-dependent) accumulation, with rates that scale up for longer terms.
- You might need this if you want to add optional riders like accident or premium-waiver cover.
How it actually works
- Entry age 30 days to 60 years (for shorter premium terms); policy term 10-20 years; premium payment term 6, 8, 10, 12 or 15 years.
- Minimum sum assured ₹5,00,000 in multiples of ₹10,000, no maximum.
- Choose Option I (death benefit = higher of 7x tabular annual premium or Basic Sum Assured) or Option II (10x multiple) at inception.
- Guaranteed Additions accrue yearly at 8.5% (10-13 yr terms), 9% (14-17 yr) or 9.5% (18-20 yr) of total tabular annual premium.
- Maturity benefit = Basic Sum Assured plus accrued guaranteed additions.
- Optional riders: accidental death & disability, accident benefit, term assurance, premium waiver (capped at 30% of base premium).
Worked example
A 30-year-old choosing a 20-year term with an 8-year premium-paying term and ₹1 lakh Basic Sum Assured pays about ₹1,19,500 a year under Option I, or ₹1,21,300 under Option II.
The tiers
| Policy Term | Guaranteed Addition Rate |
|---|
| 10-13 years | 8.50% of tabular annual premium |
| 14-17 years | 9.00% of tabular annual premium |
| 18-20 years | 9.50% of tabular annual premium |
Worth knowing
- Non-participating: benefits are fixed and guaranteed, with no discretionary bonus upside.
- Surrender is allowed after 1 year, but Guaranteed Surrender Value only applies once 2 full years of premiums are paid.
- Loan available after 1 year, but only up to 50-80% of surrender value depending on in-force/paid-up status.
A 25-year non-participating endowment plan for adults offering a choice of three survival-benefit payout patterns, plus a guaranteed maturity lump sum.
You might need this if
- You might need this if you want periodic cash payouts during the policy term rather than waiting until maturity for everything.
- You might need this if you want to choose the shape of your payouts — a single mid-term lump sum, small regular payouts, or larger periodic ones.
- You might need this if you're a woman wanting the option to add a dedicated critical illness rider.
- You might need this if you want a fixed 25-year savings horizon with guaranteed, non-market-linked growth.
How it actually works
- Entry age 18-50 years; fixed 25-year policy term; premium payment term chosen between 7-15 years.
- Minimum Basic Sum Assured ₹2,00,000, multiples of ₹10,000, no maximum.
- Pick one survival-benefit option at inception: Option A (50% of Basic Sum Assured as a lump sum at the end of the premium-paying term), Option B (7.5% of Basic Sum Assured in even years 2-24), or Option C (15% of Basic Sum Assured every 4th year, 4-24).
- Guaranteed Additions accrue yearly at 7% of total tabular annual premium.
- Death benefit is the higher of Basic Sum Assured or 10x tabular annual premium, floor of 105% of premiums paid, plus guaranteed additions.
- Optional riders include accidental death & disability, accident benefit, term assurance, and a Female Critical Illness rider with 3 cover modules.
Worked example
For a 35-year-old with ₹2,00,000 Basic Sum Assured and a 10-year premium term, the annual premium is about ₹34,480 under Option A, ₹44,940 under Option B, or ₹43,190 under Option C.
The tiers
| Option | Survival Benefit Pattern |
|---|
| A | 50% of Basic Sum Assured, paid once at end of premium-paying term |
| B | 7.5% of Basic Sum Assured, paid every even policy year (2, 4, ... 24) |
| C | 15% of Basic Sum Assured, paid every 4th policy year (4, 8, ... 24) |
Worth knowing
- Non-participating: fixed, guaranteed benefits with no bonus upside.
- Surrender value is minimal in year 1 and only becomes meaningful (guaranteed) from year 2 onward.
- Settlement of maturity/death benefit as instalments has minimum amount thresholds (e.g. ₹5,000/month).
Savings
New Jeevan Sathi - Single Premium
+
The single-premium version of LIC's joint-life savings plan for married couples, funded with one upfront payment instead of ongoing premiums; exact terms could not be confirmed from the brochure.
You might need this if
- You might need this if you and your spouse want joint-life cover from a single one-time premium payment rather than ongoing premiums.
- You might need this if you want the surviving spouse's cover to continue automatically after the first death, based on how LIC structures its other joint-life plans.
- You might need this if you prefer a lump-sum-funded policy to avoid the risk of missing future premium payments.
- You might need this if you want a guaranteed, non-market-linked payout for the family.
How it actually works
- This is the single-premium version of LIC's New Jeevan Sathi joint-life endowment plan, funded with one upfront payment instead of recurring premiums.
- Based on the structure of LIC's related joint-life plans (e.g. the Limited Premium version), it likely pays a death benefit on the first life's death — with the policy continuing for the survivor — and a further benefit on the second death or at maturity, plus guaranteed additions.
- Exact eligibility ages, minimum sum assured, and premium rates could not be confirmed because the brochure could not be retrieved.
Worth knowing
- The official brochure PDF could not be downloaded despite repeated attempts (persistent server errors), so the details above are inferred from LIC's related New Jeevan Sathi (Limited Premium) plan and general product naming, not confirmed from this plan's own brochure.
- Verify exact ages, sum assured limits, premium, and surrender/loan terms directly with LIC before relying on this summary.
No public brochure found. The points above are general pointers based on this plan's name and category, not verified against the actual document — confirm details with the insurer before relying on them.
Full page →
Savings
New Jeevan Sathi - Limited Premium
+
A joint-life savings plan for married couples with limited premium payment (5, 10 or 15 years) that waives future premiums and continues cover for the survivor after the first spouse's death.
You might need this if
- You might need this if you and your spouse want a single policy covering both lives instead of buying two separate plans.
- You might need this if you want future premiums waived automatically for the survivor after the first death, so savings for the family keep growing.
- You might need this if you want to finish paying premiums well before the policy matures (terms as short as 5 years).
- You might need this if you also want to add critical illness cover for up to 40 major illnesses.
How it actually works
- Entry age 18+ for both spouses; premium payment terms of 5, 10 or 15 years; policy terms of 10, 15, 20 or 25 years.
- Minimum sum assured ₹3,00,000 in multiples of ₹10,000.
- Choose Option I (death benefit = higher of 7x annual tabular premium or Basic Sum Assured) or Option II (10.5x multiple).
- On the first spouse's death, the Sum Assured on Death is paid to/held for the survivor and all further premiums are waived; on the second death, the benefit plus guaranteed additions goes to the beneficiary.
- Guaranteed Additions accrue at 7% of total tabular annual premium each year.
- Optional riders: accident benefit, term assurance, and a critical illness health rider (15- or 40-illness versions).
Worked example
A 35-year-old couple choosing a 25-year term with 15-year premium payment and ₹3 lakh Basic Sum Assured would pay about ₹83,650 a year under Option I, or ₹84,135 under Option II.
Worth knowing
- Non-participating: guaranteed additions are fixed, no bonus upside.
- Guaranteed surrender value applies only from year 2 onward, with factors from 30-90%.
- Policy loan available after year 1, capped at 75% of surrender value for in-force policies (50% if paid-up).
A high-sum-assured, non-participating endowment plan combining periodic survival payouts, guaranteed additions, and a non-guaranteed loyalty addition for higher-net-worth savers.
You might need this if
- You might need this if you want a large guaranteed sum assured (minimum ₹10 lakh) with periodic payouts during the term, not just at the end.
- You might need this if you want the possibility of an extra loyalty-linked payout on top of guaranteed benefits, without taking on market risk.
- You might need this if you're comfortable committing to a higher minimum cover in exchange for potentially better guaranteed rates.
- You might need this if you want a plan that can also cover children (entry from age 8).
How it actually works
- Entry age 8-55 years (varies by term); policy terms of 14, 16, 18, 20, 24 or 28 years; premium payment term is always 4 years shorter than the policy term.
- Minimum Basic Sum Assured ₹10,00,000, in multiples of ₹50,000, no stated maximum.
- Guaranteed Additions accrue at ₹50 per ₹1,000 of Basic Sum Assured for the first 5 years, then ₹55 per ₹1,000 thereafter during the premium-paying period.
- A non-guaranteed Loyalty Addition may be added after 5 completed years and 5 full years of premiums paid.
- Survival benefits pay out 30-45% of Basic Sum Assured at specified anniversaries during the term, depending on term chosen.
- Maturity benefit pays a further 10-40% of Basic Sum Assured (term-dependent) plus accrued guaranteed and loyalty additions; death benefit is the higher of 125% of Basic Sum Assured or 7x annualised premium (105% of premiums paid floor).
Worked example
A 35-year-old with ₹10 lakh Basic Sum Assured, an 18-year term and 14-year premium-paying term pays about ₹79,576 a year.
Worth knowing
- The Loyalty Addition is not guaranteed and depends on LIC's actual experience — don't count on it when planning.
- Surrender is allowed after 1 year, but factors start at 0% and only reach up to 90% in later years.
- Rider premiums (accident, term assurance, premium waiver) are capped at 30% of the base premium.
Savings
New Money Back Plan - 20 Years
+
A participating money-back plan that returns 20% of the sum assured every 5 years during a 20-year term, with the balance plus bonuses paid at maturity.
You might need this if
- You might need this if you want cash back at regular intervals (every 5 years) rather than one lump sum at the end.
- You might need this if you want life cover that also builds savings with a chance of annual bonuses, rather than a purely guaranteed-only plan.
- You might need this if you have periodic financial goals (education milestones, loan repayments) roughly every 5 years over the next two decades.
- You might need this if you want full sum-assured-level death cover to continue throughout the term even after survival payouts start.
How it actually works
- Entry age 13-50 years; 20-year policy term; 15-year premium payment term; maximum maturity age 70.
- Minimum Basic Sum Assured ₹2,00,000 in multiples of ₹25,000, no maximum.
- Survival benefit: 20% of Basic Sum Assured paid at the end of each of the 5th, 10th and 15th policy years (while the policy stays in force).
- Maturity benefit: remaining 40% of Basic Sum Assured plus vested Simple Reversionary Bonuses and any Final Additional Bonus.
- Death benefit at any time during the term (full amount, regardless of survival payouts already made): higher of 125% of Basic Sum Assured or 7x annualised premium, plus vested bonuses, floor of 105% of premiums paid.
- Optional riders: accidental death & disability, accident benefit, new term assurance (combined cap 30% of base premium).
Worked example
A 30-year-old with ₹2,00,000 Basic Sum Assured pays about ₹16,082 a year (excluding taxes), receiving ₹40,000 at each of years 5, 10 and 15, plus a final payout of ₹80,000 plus bonuses at year 20.
The tiers
| Policy Year | Survival Benefit |
|---|
| 5 | 20% of Basic Sum Assured |
| 10 | 20% of Basic Sum Assured |
| 15 | 20% of Basic Sum Assured |
| 20 (Maturity) | 40% of Basic Sum Assured + bonuses |
Worth knowing
- This is a participating plan — bonus rates are declared annually by LIC and are not guaranteed in advance.
- Death cover remains at the full sum-assured level even after survival payouts, but benefits depend on premiums staying current.
- Surrender is allowed after 1 year, but guaranteed surrender value only applies from year 2.
Savings
New Money Back Plan - 25 Years
+
A participating money-back plan that returns 15% of the sum assured every 5 years during a 25-year term, with the remaining balance plus bonuses paid at maturity.
You might need this if
- You might need this if you want a longer 25-year savings-and-protection horizon with cash returned every 5 years along the way.
- You might need this if you want life cover that continues at the full level even after receiving periodic payouts.
- You might need this if you have goals spaced roughly every 5 years across a 20-25 year period (children's education stages, etc.).
- You might need this if you want a participating plan with potential bonus upside rather than a fixed guaranteed-only structure.
How it actually works
- Entry age 13-45 years; 25-year policy term; 20-year premium payment term; maximum maturity age 70.
- Minimum Basic Sum Assured ₹2,00,000 in multiples of ₹25,000, no maximum.
- Survival benefit: 15% of Basic Sum Assured paid at the end of each of the 5th, 10th, 15th and 20th policy years.
- Maturity benefit: remaining 40% of Basic Sum Assured plus accrued Simple Reversionary Bonuses and any Final Additional Bonus.
- Death benefit at any time: higher of 125% of Basic Sum Assured or 7x annualised premium, plus vested bonuses, floor of 105% of premiums paid.
- Optional riders: accidental death & disability, accident benefit, new term assurance (combined cap 30% of base premium).
Worked example
A 30-year-old with ₹1,00,000 Basic Sum Assured pays about ₹12,573 a year (excluding taxes), receiving ₹15,000 at each of years 5, 10, 15 and 20, plus a final payout of ₹40,000 plus bonuses at year 25.
The tiers
| Policy Year | Survival Benefit |
|---|
| 5 | 15% of Basic Sum Assured |
| 10 | 15% of Basic Sum Assured |
| 15 | 15% of Basic Sum Assured |
| 20 | 15% of Basic Sum Assured |
| 25 (Maturity) | 40% of Basic Sum Assured + bonuses |
Worth knowing
- Bonus rates are not guaranteed and are declared annually by LIC based on actual experience.
- Surrender allowed after 1 year; guaranteed surrender value factors (30-90%) apply from year 2 onward.
- Policy loan capped at 50-75% of surrender value, depending on premium payment status.
A whole-life-style participating plan that pays a guaranteed yearly income (8% of sum assured) for life after the premium term ends, plus a full sum-assured-plus-bonus payout on death.
You might need this if
- You might need this if you want a plan that keeps paying you an income every year for the rest of your life once you stop paying premiums.
- You might need this if you want life cover that continues until age 100, alongside the income.
- You might need this if you want a participating (bonus-eligible) plan rather than a purely fixed-benefit one.
- You might need this if you're planning for retirement income starting at a defined future date (end of your chosen premium term).
How it actually works
- Entry age 30 days to 55 years; premium payment term chosen from 15, 20, 25 or 30 years; cover runs to age 100.
- Minimum Basic Sum Assured ₹2,00,000, no maximum.
- Once premiums stop, an annual survival benefit of 8% of Basic Sum Assured is paid every year for life (or until maturity at age 100).
- Death benefit at any time: higher of 7x annualised premium or Basic Sum Assured, plus vested bonuses, floor of 105% of premiums paid.
- Simple Reversionary Bonuses accrue during the premium-paying term; a Final Additional Bonus may apply at claim.
- Optional riders: accidental death & disability, accident benefit, term assurance, premium waiver (proposer's death) — combined cap 30% of base premium.
Worked example
A 20-year-old buying ₹2,00,000 Basic Sum Assured with a 15-year premium term pays about ₹16,542 a year (excluding taxes); from year 16 onward they'd receive 8% of sum assured, i.e. ₹16,000, every year for life.
Worth knowing
- Bonuses are not guaranteed — they depend on LIC's annual declared rates.
- Guaranteed Surrender Value only applies after 2 years of premiums paid, with factors from 30-90%.
- Minimum premium multiples increase in steps as sum assured rises, so double-check exact numbers for your chosen sum assured.
A non-participating whole-life plan offering a choice between a fixed annual income starting after the premium term, or a flexible income you can accumulate and withdraw as needed.
You might need this if
- You might need this if you want predictable annual, pension-like income for life without depending on bonus declarations.
- You might need this if you'd rather bank your income and withdraw it flexibly instead of receiving it automatically every year.
- You might need this if you want to finish premiums relatively quickly (5-16 years) while keeping lifelong cover.
- You might need this if you value guaranteed, fixed benefits over the possibility of higher but uncertain bonus-linked payouts.
How it actually works
- Entry age 30 days to 65 years (minimum varies by premium term); premium payment term chosen from 5-16 years.
- At inception, choose Option I (Regular Income Benefit: fixed 10% of Basic Sum Assured paid annually starting around year 11-19) or Option II (Flexi Income Benefit: same 10% but accumulated at 5.5% p.a. compounding, withdrawable up to 75% once a year).
- Guaranteed Additions of ₹40 per ₹1,000 of Basic Sum Assured accrue yearly during the premium-paying term only.
- Death benefit: higher of Basic Sum Assured or 7x annualised premium, plus guaranteed additions, floor of 105% of premiums paid.
- No maturity lump sum — this is a lifelong-income, non-participating plan with fixed, guaranteed figures (no bonus).
- Optional riders: accidental death & disability, accident benefit, term assurance, premium waiver — combined cap 30% of base premium.
Worked example
A 35-year-old with a 10-year premium term and ₹5 lakh Basic Sum Assured pays about ₹1,11,050 a year for 10 years; from year 11 they'd receive ₹1,00,000 a year for life (Regular Income option), with a death benefit around ₹14,00,000 including accumulated additions.
Worth knowing
- Non-participating: figures are guaranteed but fixed — no bonus upside.
- There's no maturity lump sum; value is delivered as ongoing income plus the death benefit.
- Surrender value (guaranteed or special, whichever higher) is available after 1 year but is a fraction of premiums paid — roughly 54% by year 10 in the brochure's own example.
Savings
Jeevan Utsav Single Premium
+
The single-premium version of Jeevan Utsav — pay once, then receive a fixed annual income for life (regular or accumulating/flexi) after a chosen guaranteed-addition period, plus lifelong death cover.
You might need this if
- You might need this if you have a lump sum available now and want to convert it into a guaranteed lifetime income stream with no further payments.
- You might need this if you want to choose how long the initial accumulation phase lasts (7-17 years) before income starts.
- You might need this if you want flexibility to accumulate income and withdraw it as needed instead of a fixed annual payout.
- You might need this if you want simplicity — a single transaction rather than years of ongoing premiums.
How it actually works
- Entry age 30 days to 65 years; single premium only; choose a guaranteed-addition period between 7-17 years before income starts.
- Minimum Basic Sum Assured ₹5,00,000.
- Option I (Regular Income): 10% of Basic Sum Assured paid every year starting after the chosen guaranteed-addition period; Option II (Flexi Income): same amount accumulated at 5.5% p.a., withdrawable up to 75% annually.
- Death benefit: higher of Basic Sum Assured or 1.25x the tabular single premium, plus accrued guaranteed additions.
- Guaranteed Additions of ₹40 per ₹1,000 of Basic Sum Assured accrue only during the chosen guaranteed-addition period.
- Optional riders: accidental death & disability (to age 70), and new term assurance (35-year term or to age 75) — combined cap 30% of base premium.
Worked example
For a ₹5 lakh Basic Sum Assured with a 10-year guaranteed-addition period, the single premium is about ₹4,64,150; choosing a 16-year period brings the single premium down to roughly ₹2,85,725-₹3,00,800 depending on age.
The tiers
| Guaranteed Addition Period | Approx. Single Premium (₹5L BSA) |
|---|
| 10 years | ₹4,64,150 |
| 12 years | ₹3,61,875 |
| 16 years | ₹2,85,725 - ₹3,00,800 (age-dependent) |
Worth knowing
- Non-participating: figures are fixed and guaranteed, no bonus potential.
- Surrender value is 75% of single premium in the first 3 years, rising to 90% after, minus any income already received.
- Policy loans are available from just 3 months after issue, but the loan-to-value percentage is lower during the guaranteed-addition period (40-60%) than after it ends (up to 75%).
A non-linked whole-life savings plan aimed at legacy planning, paying a guaranteed death benefit for life with an option to also get your premiums back at age 85 or in staggered instalments.
You might need this if
- You might need this if you're 40+ and want to guarantee a lump sum for your heirs whenever you die, rather than a plan that expires after a fixed term.
- You might need this if you want your premiums returned to you later in life (a lump sum at age 85, or in four instalments from ages 60/65/70/75) while still keeping death cover active.
- You might need this if you want the option to accelerate 100% of the death benefit early on diagnosis of a serious critical illness (after the 10th policy year or end of premium term).
- You might need this if you're specifically planning for estate or legacy transfer rather than income replacement during your working years.
How it actually works
- Entry age minimum 40; no maturity - the plan runs for whole of life; premium paying term is Single Pay, or 5-6, 7-10, or 11-15 years depending on entry age.
- Two benefit options: Life Option (pure death benefit, no survival payout) and Return of Premium (RoP) Option, either as a lump sum at age 85 or in four 25% instalments at policy years 15/20/25/30.
- Death benefit is the highest of the sum assured, accumulated premium value, 105% of total premiums paid, or the policy's surrender value at the time.
- Sum assured is set as a multiple (1.25x to 10x) of annual premium, called the Death Benefit Multiple, which varies with premium paying term and premium size.
- Four optional riders are available: Income Benefit on Accidental Disability, Protect Plus, Health Plus, and Waiver of Premium (on critical illness or total permanent disability).
- The death benefit can also be taken as instalments over 5-15 years instead of a lump sum.
Worked example
Mr. Bansal, age 45, pays ₹10 lakh/year for 10 years under the Life Option (7x Death Benefit Multiple); if he dies at age 85, his nominee receives a ₹7.98 crore lump sum. Under the RoP-in-Instalments version, Mr. Goel (age 40, same premium) gets four instalments of ₹25 lakh each at ages 60/65/70/75, and if he dies at 95 his nominee still receives ₹6.75 crore.
Worth knowing
- There is no maturity benefit under the Life Option - if you want money back during your lifetime, you need the RoP variant, which costs more.
- Minimum entry age is 40, so this isn't designed for younger buyers looking for term-style protection.
- Surrender value calculations are complex (a formula based on accumulated premium value and age), and early surrender in the first year yields little to nothing.
- Revival after a lapse is only possible within 5 years, at a current interest rate of 9.5% p.a.
Savings
Guaranteed Savings Plan
+
A non-participating savings plan that pays a fixed, pre-declared lump sum at maturity while giving a life cover in the meantime — no market risk, no bonuses, just a locked-in number.
You might need this if
- You might need this if you want to know the exact maturity amount on day one rather than depend on bonuses or market returns.
- Useful if you're saving toward a child's near-term goal — entry age can be as young as 8, with maturity by age 18.
- Good fit if you want to avoid medicals — the plan can be issued on self-declaration of good health.
- Works if you can commit to a short pay period (5-12 years) for a policy that runs a bit longer (10-20 years).
How it actually works
- Choose Single Pay (5,7,10,15-year terms) or Limited Pay (pay 5-12 years for policies running 10-20 years).
- Premiums run from ₹5,000 to ₹2,50,000 a year; sum assured on maturity ranges roughly ₹10,000 to ₹25,00,000.
- Death benefit is the highest of 10x annualised premium (or 1.25x/10x single premium), 105% of premiums paid, or the sum assured on maturity — with a distinct, lower payout for non-accidental death in the first 90 days.
- Maturity benefit is simply the pre-agreed Sum Assured on Maturity, paid as a lump sum if you survive the term and pay all premiums.
- No optional riders are offered with this plan — it's a standalone base product.
- Policy loans available up to 80% of surrender value at a G-Sec-linked rate (currently ~9.5% p.a.).
Worked example
For a 35-year-old male paying about ₹430/month for a 5-year premium term on a 10-year policy, the brochure shows a Sum Assured on Maturity of ₹32,346. In a separate illustration, a 30-year-old paying ₹10,291/year for 5 years on a 15-year policy targets a maturity payout of ₹1,00,000.
The tiers
| Policy Year | Single Pay (5-yr) | Limited Pay (10-yr) | Limited Pay (20-yr) |
|---|
| 1 | 30% | 75% | 75% |
| 3 | 50% | 75% | 90% |
| 10 | 73% | 90% | 90% |
| 20 | 90% | - | 90% |
Worth knowing
- This is a non-participating plan — you get exactly the declared maturity sum, no upside from company profits or market performance.
- Suicide within 12 months of start/revival limits the payout to 80% of premiums paid or surrender value, whichever is higher.
- Surrender before 2 years' premiums are paid usually forfeits most value; the guaranteed surrender value scales up only in later years.
- Free-look window is 30 days; revival of a lapsed policy is allowed only within 5 years, subject to fresh underwriting.
Savings
Assured Gain Plus
+
A participating endowment plan that pays a guaranteed lump sum plus Guaranteed Terminal Additions at maturity, with the chance of extra (non-guaranteed) bonus on top.
You might need this if
- You might need this if you want life cover for the full policy term while paying premiums for only a handful of years (as few as 5).
- Useful for goal-based saving — home down payment, a child's education/wedding, or a family trip — where you want a guaranteed floor plus possible upside.
- Good if you're comfortable locking in for 10-30 years in exchange for terminal additions that grow steadily from year 5 onward.
- Fits parents buying for young children too — entry age can be as low as 3 years for longer terms.
How it actually works
- Policy terms of 10 to 30 years; premium payment terms from 5 to 12 years or a Single Premium option.
- Minimum annual premium is ₹30,000 (₹3,000/month); single premium starts at ₹2,50,000.
- Death benefit = higher of (10x or 7x annualised premium, depending on entry age) or 105% of total premiums paid, plus any guaranteed terminal additions and vested bonuses.
- Maturity benefit = Sum Assured on Maturity + Guaranteed Terminal Additions (which step up from 7.5% of sum assured in year 5 to 60% by year 27+) + any declared reversionary/terminal bonus.
- Two optional riders: Income Benefit on Accidental Disability (1% of rider sum assured/month for 10 years) and Protect Plus (cancer/accidental cover).
- High-premium policies get built-in premium discounts of up to 4% depending on premium band and payment term.
Worked example
Ravi, age 40, pays ₹1,00,000/year for 5 years on a 15-year policy. Guaranteed maturity benefit: ₹5,44,228; at an illustrative 4% return it grows to ₹6,19,294, and at 8% to ₹9,47,707. His death cover from day one is ₹10,00,000.
The tiers
| Annual Premium Band | PPT 5-yr Discount | PPT 10-yr Discount |
|---|
| ₹30,000-₹74,999 | 0% | 0% |
| ₹75,000-₹1,49,999 | 2.50% | 1.00% |
| ₹1,50,000-₹2,99,999 | 3.00% | 2.00% |
| ₹3,00,000+ | 4.00% | 2.50% |
Worth knowing
- Bonuses and terminal additions beyond the guaranteed floor are not guaranteed and depend on the insurer's participating fund performance.
- Minimum guaranteed maturity is only 101% of total premiums payable — the real upside depends on bonus declarations.
- Suicide within 12 months of start/revival caps the payout at 80% of premiums paid or the surrender value, whichever is higher.
- Surrendering early (before year 2-3) yields low guaranteed surrender value percentages.
A simple, non-participating savings plan offered either as a lump-sum-at-maturity variant or a fixed guaranteed-income variant, alongside a straightforward life cover.
You might need this if
- You might need this if you want a plain-vanilla guaranteed plan without bonus complexity — pick lump sum or a fixed income stream.
- Useful for parents starting a savings plan for a newborn — entry age starts from 30 days old.
- Good if your priority is predictable numbers: guaranteed income percentages and death benefit multiples are fixed at inception.
- Fits shorter savings horizons too — policy terms as short as 5-6 years are available on the income variant.
How it actually works
- Lump Sum variant: policy terms of 6-12 years (extendable to 20 with premium term). Income variant: policy terms of 5-11 years, income paid after the pay period ends.
- Minimum premium ranges from ₹10,000 to ₹20,000/year depending on premium payment term chosen.
- Death benefit = higher of (7x or 10x annualised premium) or 105% of total premiums paid.
- Income variant payouts are a fixed % of sum assured (e.g., roughly 12.5%-20% annually, or ~1%-1.76% monthly) for several years after the pay period.
- Two optional riders available: Accidental Disability Income Benefit and Protect Plus (cancer/accident cover) — not available on the POS (point-of-sale) version.
- Premium discounts of up to ~19% apply for high annual premiums and longer payment terms.
Worked example
Mr. Rahul, age 35, pays ₹10,000/year for 10 years on the Income variant (10-year term). Life cover is ₹1,00,000. After the pay period, he gets a guaranteed annual income of ₹13,722 for 10 years (total ₹1,37,220), or alternatively ₹1,098/month for 120 months. On the Lump Sum variant with the same inputs but a 20-year term, the maturity payout is ₹1,84,195.
Worth knowing
- This is a non-participating plan — no bonuses; what's illustrated is what you get.
- For a life assured under 12 years old, full death benefit only kicks in after the 2nd policy year; before that only premiums are refunded.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- No death benefit is payable after the policy term ends, even if the income variant payout period is still running — only the guaranteed income continues to the nominee.
Savings
Smart Income Plan
+
A participating savings plan that pays a Guaranteed Income Benefit (10% of sum assured annually) for a long stretch of later years, with an option to also collect bonus income along the way.
You might need this if
- You might need this if you're planning a long-horizon income stream for retirement or a child's later-life needs, not just a one-time payout.
- Useful if you like a guaranteed base income but also want a chance at bonus-linked extra income (via the Enhanced Income option).
- Good for those comfortable committing to a fairly long policy term — terms run 19 to 37 years, tied to a 6-12 year pay period.
- Fits people who want life cover throughout, not just during the paying years.
How it actually works
- Pick a Premium Payment Term of 6, 8, 10, or 12 years, which fixes the policy term (19/25/31/37 years) and income payout period (12/16/20/24 years).
- Minimum premium: ₹30,000/year (₹3,000/month).
- Death benefit = higher of (10x or 7x annualised premium) or 105% of total premiums paid, plus accrued bonuses.
- Guaranteed Income Benefit (GIB) = 10% of Basic Sum Assured, paid annually once the pay period ends, for the full income payout period.
- Choose Option 1 (Enhanced Maturity) — GIB only, bonus saved up for a bigger maturity lump sum — or Option 2 (Enhanced Income) — GIB plus an annual bonus (SRIB) paid out each year.
- Two optional riders: Accidental Disability Income Benefit and Protect Plus.
Worked example
Rahul, age 30, pays ₹1,00,000/year for 6 years on a 19-year policy (Enhanced Maturity option). Basic Sum Assured: ₹3,82,984. He gets ₹38,298/year as GIB for 11 years, then at maturity a lump sum of ₹2,82,068 (at 4% assumed return) to ₹7,90,862 (at 8%) on top of the final GIB installment. Death cover throughout: ₹10,00,000.
The tiers
| Annual Premium | PPT 6-yr Discount | PPT 12-yr Discount |
|---|
| ₹96,000-₹1,43,999 | - | 4.25% |
| ₹1,44,000-₹1,91,999 | 0.50% | 5.00% |
| ₹1,92,000+ | 1.00% | 5.25% |
Worth knowing
- Bonuses (Simple Reversionary Bonus/SRIB, Terminal Bonus) are not guaranteed — illustrated only at 4% and 8% assumed rates, not promised returns.
- Guaranteed Income Benefit itself is fixed and guaranteed, but the bonus layered on top is variable.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- The long policy terms (up to 37 years) mean surrender in the early years locks in low guaranteed surrender value factors.
Savings
Sanchay Par Advantage
+
A participating whole-life plan (cover to age 100) offering a choice between immediate annual cash bonuses or deferred guaranteed income, plus a maturity payout with terminal bonus.
You might need this if
- You might need this if you want lifelong life cover combined with income you can start drawing either right away or after deferring.
- Useful for legacy planning — the policy can run to age 100, so it doubles as a long-term wealth transfer vehicle.
- Good if you want flexibility on when to take payouts — accrued bonuses/income can be withdrawn partly or fully at any time, or left to compound.
- Fits high-premium savers — additional guaranteed income kicks in for annualised premiums above ₹1,00,000 on the Deferred Income option.
How it actually works
- Policy term is either (100 minus entry age) years or a fixed term of 20-40 years; premium payment terms run 5-12 years.
- Minimum premium starts at ₹25,000/year (₹2,188/month).
- Immediate Income option: annual cash bonus (rate x annualised premium) from year 1 onward. Deferred Income option: a Guaranteed Income Rate (roughly 22%-50.8% of annualised premium depending on age/PPT) kicks in after the pay period, for up to 25 years.
- Death benefit = highest of 10x annualised premium, sum assured on maturity, or a declining age-based death multiple, plus accrued bonuses — minimum 105% of premiums paid.
- Four optional riders: Accidental Disability Income, Health Plus (60 critical illnesses), Protect Plus, and Waiver of Premium.
- Deferred bonuses/income accumulate at the RBI Reverse Repo Rate (currently ~3.35% p.a.) if you choose not to withdraw them.
Worked example
A 30-year-old male pays ₹1,00,000/year for 8 years (Deferred Income option). Guaranteed Income is ₹28,400/year for a 25-year guarantee period. At maturity (age 100), total benefit ranges from ₹23,22,000 (at 4% assumed return) to ₹61,60,000 (at 8%), including an ₹8,00,000 sum assured on maturity plus terminal bonus.
The tiers
| Annualised Premium Band | Additional Guaranteed Income (Deferred option) |
|---|
| Below ₹1,00,000 | Nil |
| ₹1,00,000-₹2,99,999 | 0.4% |
| ₹3,00,000-₹4,99,999 | 1.0% |
| ₹5,00,000+ | 1.2% |
Worth knowing
- Terminal and cash bonuses are explicitly not guaranteed and depend on the insurer's investment, expense, and mortality experience.
- Guarantee period on Deferred Income is capped at the lower of 25 years or (policy term minus PPT minus 1 year).
- Suicide within 12 months of start/revival caps payout at 80% of premiums paid or surrender value.
- Very long policy terms (potentially 70+ years to age 100) mean this is a multi-decade commitment; early surrender value is low.
Savings
Guaranteed Income Insurance Plan
+
A non-participating plan that pays a fixed guaranteed income (about 11-12% of sum assured annually) for a set payout period, plus a lump sum at maturity and death cover throughout.
You might need this if
- You might need this if you want a fully guaranteed income number you can plan around, with no dependence on bonus declarations.
- Useful for retirement income planning — you can choose the deferment period and how long the income runs (up to PPT + 5 years, or extended options for the 3-Pay variant).
- Good if you want the option of a lump-sum death benefit or a 5-year monthly instalment payout (Family Income Payout) instead.
- Fits a wide age range — entry from 18 to 65, and very flexible premium payment terms (3 to 15 years).
How it actually works
- Premium Payment Terms of 3, 5, 6, 7, 8, 10, 12, or 15 years; policy terms from 10 up to 60 years, with a deferment period of up to PPT+5 years.
- Minimum premium is ₹12,000-24,000/year depending on the PPT chosen.
- Guaranteed Income runs at roughly 11%-12% of Sum Assured per year, payable monthly or annually, in advance or arrears.
- Maturity benefit = Sum Assured, paid as a lump sum along with the final income instalment.
- Death benefit = highest of (10x/7x/5x annualised premium), 105% of total premiums paid, or the Sum Assured — payable throughout the term, not reduced by income already paid; you can choose a lump sum or a 60-month Family Income Payout equal to 110% of the death benefit.
- Five optional riders available: Accidental Disability Income, Protect Plus, Waiver of Premium, Health Plus, and LiveWell.
Worked example
Balaji, age 35, pays ₹50,665/year for 15 years on a 30-year policy. From year 16 to year 30 he receives a Guaranteed Annual Income of ₹1,02,884 (11% of sum assured), and at maturity a lump sum of ₹9,35,310 along with the final income instalment.
Worth knowing
- This is a non-participating plan — the income and maturity amounts are fixed at inception, with no bonus upside but also no downside risk from investment performance.
- If the life assured is under 12 years old at entry, full death cover only starts after the 2nd policy year.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- Loan facility is capped at 80% of the Special Surrender Value, and the plan can be foreclosed if outstanding loan and interest exceed the surrender value.
A shorter-duration participating endowment plan (12 or 15 years) with guaranteed additions in the first 5 years, discretionary bonuses, and an accidental death top-up.
You might need this if
- You might need this if you want a relatively short savings horizon — just 12-15 years — with a guaranteed floor plus bonus potential.
- Useful if you specifically want built-in accidental death protection — an extra 100% of the death sum assured is paid for accidental death.
- Good for people aged 18-55 who want a fixed 8 or 10-year premium payment schedule rather than a long-running commitment.
- Fits savers targeting a specific medium-term goal with modest minimum premiums (from ₹500/month).
How it actually works
- Choose 8-year PPT with a 12 or 15-year term, or 10-year PPT with a 15-year term.
- Minimum premium starts at ₹5,000/year (₹500/month); minimum sum assured on maturity is ₹28,465.
- Maturity benefit = Sum Assured on Maturity + Guaranteed Additions (3% p.a. of sum assured, accruing during the first 5 policy years) + any declared bonuses.
- Death benefit = highest of (Sum Assured + accrued additions/bonuses) or 105% of total premiums paid; Sum Assured on Death itself is the highest of Sum Assured on Maturity, 10x annualised premium (age ≤50) or 7x (age >50).
- Accidental death adds a further 100% of the Sum Assured on Death as a top-up, provided death occurs within 180 days of the accident.
- No optional riders are offered on this plan.
Worked example
A healthy 30-year-old with an 8-year PPT / 12-year term and a ₹50,000 sum assured pays about ₹8,125/month. Illustrated maturity value: ₹70,500 at an assumed 4% return, up to ₹90,000 at 8%.
The tiers
| Sum Assured on Maturity | Rebate (8-yr PPT/12-yr term) | Rebate (10-yr PPT/15-yr term) |
|---|
| Below ₹2,00,000 | Nil | Nil |
| ₹2,00,000-₹4,99,999 | ₹5 per ₹1,000 | ₹2.50 per ₹1,000 |
| ₹5,00,000+ | ₹7.50 per ₹1,000 | ₹5 per ₹1,000 |
Worth knowing
- Bonuses (Reversionary, Interim, Terminal) are discretionary and not guaranteed — only the 3% p.a. guaranteed addition in the first 5 years is locked in.
- Accidental death benefit excludes deaths from suicide, intoxication, hazardous activities, war, and certain other causes.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- If premiums lapse after at least 1 year paid, the policy converts to a reduced (paid-up) sum assured rather than continuing at full value.
Savings
Sampoorna Jeevan
+
A highly customizable participating savings plan — pick lump sum, income, or a mix of both as your maturity structure, and pick from five different bonus mechanisms, on terms running to age 75 or 100.
You might need this if
- You might need this if you want to design your own payout shape — pure lump sum, pure income from a set age, or a combination.
- Useful for people planning very long time horizons — the '100' variant runs cover to age 100, useful for legacy or extended-family income planning.
- Good if you want control over how bonuses are used — five different bonus options ranging from pure cash payouts to reinvested paid-up additions.
- Fits parents buying for young children as well as those buying in their 40s-50s for their own retirement income.
How it actually works
- Choose the Sampoorna Jeevan 75 (matures at 75) or Sampoorna Jeevan 100 (matures at 100) variant, and a Guaranteed Benefit Option: A (Lump Sum), B (Income), C (Lump Sum then Income), or D (Income then Lump Sum).
- Premium payment terms of 6, 8, 10, 12, or 15 years; minimum premium from ₹12,000/year (₹1,000/month).
- Death benefit = highest of (10x or 7x annualised premium), the guaranteed maturity sum assured, or 105% of premiums paid, plus vested bonuses.
- Income options pay a Guaranteed Income Benefit of 5% (Option B) or up to 10% (Options C/D) of Basic Sum Assured annually, generally starting from age 61.
- Five bonus mechanisms to choose from at inception (cannot be changed later): Simple Reversionary Bonus, Simple Reversionary Income Bonus, Cash Bonus, or combinations — plus an option to convert cash bonus into Paid-up Additions for extra death/survival cover.
- Two optional riders: Accidental Disability Income Benefit and Protect Plus.
Worked example
Rajesh, age 35, picks Option A (Lump Sum) with Cash Bonus, paying ₹1,00,000/year for 10 years on a 40-year policy (Sampoorna Jeevan 75). Basic Sum Assured: ₹8,27,123, with ₹10,00,000 death cover throughout. At maturity he gets the full ₹8,27,123 plus a Terminal Bonus of ₹18,85,842 (at 4% assumed return) to ₹35,97,987 (at 8%), on top of annual cash bonuses received along the way.
The tiers
| Annual Premium | 6-yr PPT Discount (SJ75) | 15-yr PPT Discount (SJ75) |
|---|
| ₹60,000 | 0.00% | 9.75% |
| ₹96,000 | 2.50% | 11.00% |
| ₹1,44,000 | 4.00% | 11.75% |
| ₹1,80,000 | 4.50% | 12.00% |
Worth knowing
- All bonus components (SRB, SRIB, Cash Bonus, Terminal Bonus) are not guaranteed — the brochure's 4%/8% illustrations show a huge range of outcomes.
- The bonus option chosen at inception cannot be changed for the life of the policy.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- Very long terms (up to ~70+ years for young entrants) mean this is a multi-generational commitment; early surrender realizes little value.
Savings
Sanchay Fixed Maturity Plan
+
A non-participating plan built purely around a guaranteed lump sum at a fixed maturity date, available on both single-life and joint-life (e.g., spouse) basis.
You might need this if
- You might need this if you want a single guaranteed number at a fixed future date — no bonus uncertainty, no income stream to manage.
- Useful for couples who want joint coverage — a Joint Life option lets both spouses be covered, with distinct payouts for first and second death.
- Good for very flexible time horizons — policy terms can run anywhere from 5 to 40 years.
- Fits savers who want a Single Premium, pay-once-and-forget structure, alongside the option to pay over several years instead.
How it actually works
- Entry age 90 days to 65 years (single life) or up to 65 years (joint life); policy terms of 5-40 years, Single Premium or Regular/Limited Pay.
- Minimum premium starts at ₹10,000 (single premium or annual, single life); joint life minimums are higher (₹12,500 single premium, ₹70,000 annual).
- Maturity benefit = premium x a Guaranteed Maturity Multiple that varies by age and payment term (declared by the insurer, not fixed in the brochure).
- Death benefit (single life) = highest of the Sum Assured on Death, a Death Benefit Multiple (up to ~1.5x single premium or 10x annual premium), 105% of premiums paid, or the surrender value.
- Joint life: first death pays a smaller benefit and the policy continues; second death pays the larger, full death benefit calculated the same way as single life.
- Three optional riders: Accidental Disability Income Benefit, Protect Plus, and Waiver of Premium.
Worked example
Mr. Kumar, age 35, pays ₹1,00,000/year for 10 years on a 10-year single-life policy. Maturity benefit: ₹11,57,900, against a death cover starting at ₹10,00,000. A joint-life example (ages 30/35, single premium ₹1,00,000, 20-year term) shows a maturity benefit of ₹2,95,000, first-death benefit of ₹1,25,000, and second-death benefit of ₹12,50,000.
Worth knowing
- This is a non-participating plan — the Guaranteed Maturity Multiple is fixed by the insurer's tables and not disclosed in full within the brochure; the exact multiplier depends on age and term.
- For the POS (point-of-sale) variant, maximum death cover is capped at ₹25,00,000 and no riders are available.
- Suicide within 12 months of start/revival limits the single-life payout to 80% of premiums paid or the surrender value.
- Policy loans are capped at 80% of surrender value; premature exit before 2 years' premiums are paid yields little to no guaranteed surrender value.
Savings
Click 2 Achieve Par Advantage
+
A participating plan with five swappable-at-inception payout structures — Lumpsum, Balanced Income, Early Income, Enhanced Income, or Guaranteed Income — that can be mixed within one policy.
You might need this if
- You might need this if you want to split one policy across several payout styles — e.g., part guaranteed income, part lump sum — rather than buying separate plans.
- Useful for major upcoming milestones — the plan includes a Special Milestone Benefit that can pay out up to 50% of premiums paid at a chosen future occasion.
- Good if you want the option to add a spouse as a second life assured under the same policy (Additional Life option) or keep the policy running after death via Policy Continuance Benefit.
- Fits a very wide age range — entry from 30 days old up to 85 years, with policy terms from 10 to 40 years.
How it actually works
- Pick from 5 plan options (or mix them): 1) Lumpsum, 2) Balanced Income, 3) Early Income, 4) Enhanced Income, 5) Guaranteed Income (10% of sum assured annually) — each with different bonus/payout timing.
- Minimum premium is ₹25,000/year for Options 1-4, or ₹10,000/year for Option 5 alone; Single Premium starts at ₹50,000 (or ₹25,000 for Option 5).
- Death benefit = highest of a Death Benefit Multiple (roughly 5x-11x annualised premium, or 1.1x-1.25x single premium, depending on age) or 105% of total premiums paid.
- Maturity benefit = Sum Assured on Maturity + accrued bonuses (Reversionary Bonus for Option 1; Interim Cash Bonus + Terminal Bonus for Options 2-5).
- Four optional riders: Accidental Disability Income Benefit, Protect Plus, Health Plus (60 critical illnesses), Waiver of Premium.
- After 5 years you can reduce premiums by up to 50% (benefits scale down proportionally); you can also defer survival benefits, which then accrue interest at the RBI Standing Deposit Facility rate (~6.25% p.a.).
Worked example
A 35-year-old male pays ₹5,00,000/year for 10 years on a 40-year policy, split 90% Guaranteed Income / 10% Early Income, with a death benefit of ₹55,00,000. At an assumed 4% return, total benefit to maturity is about ₹89,01,944 (guaranteed annual income ₹1,04,264 plus cash bonus); at 8% it rises to about ₹2,42,36,900.
Worth knowing
- Cash bonuses and terminal bonuses are not guaranteed — the 4%/8% illustrations show a very wide range of outcomes.
- If you opt for Policy Continuance Benefit, the terminal bonus is not payable in exchange for the policy continuing after death with waived premiums.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- Waiver of Premium riders (critical illness/disability) carry a 90-day waiting period and standard exclusions (pre-existing conditions, hazardous activities, self-harm).
Savings
Guaranteed Wealth Plus
+
A non-participating plan that returns 100% of your premiums at maturity as a guaranteed floor, in either a pure Lump Sum variant or an Income variant that adds a guaranteed annual payout.
You might need this if
- You might need this if you want the simplest possible guarantee: get all your premiums back, plus a set income if you choose that variant.
- Useful if you're not chasing bonus-linked upside and just want a predictable, contractually fixed return of capital with life cover attached.
- Good for people wanting a fairly short pay-in (as little as 3 years) combined with a shorter Lump Sum policy term (12 or 15 years).
- Fits longer-horizon income planning too — the Income variant can run policy terms up to 43 years.
How it actually works
- Lump Sum variant: 12 or 15-year terms, Single Pay or 3-12 year Limited Pay. Income variant: terms from 20 to 43 years, Limited Pay only.
- Minimum premium is ₹75,000/year (Lump Sum) or ₹30,000/year (Income variant); Single Pay minimum is ₹1,50,000.
- Maturity benefit = 100% of total premiums paid, on both variants; the Income variant adds a Guaranteed Income on top.
- Death benefit = highest of (5x-7x annualised premium for Lump Sum, or 7x-10x for Income variant, or 1.25x single premium) or 105% of premiums paid.
- On the Income variant, guaranteed income (a fixed % of annualised premium) starts a couple of years after the pay period ends and continues to maturity.
- Two optional riders: Accidental Disability Income Benefit and Protect Plus.
Worked example
Mr. Sharma, age 35, pays ₹2,00,000/year for 6 years on the Income variant (37-year term). Death cover is ₹25,00,000 during the pay period, dropping to ₹20,00,000 afterward. From year 8 he receives a Guaranteed Income of ₹79,200/year for 30 years, plus a maturity benefit of ₹12,00,000 (100% of premiums paid).
Worth knowing
- This is a non-participating plan — 100% return of premiums is the guaranteed maturity floor, with no bonus upside beyond that.
- Because the maturity benefit is capped at premiums paid, effective real returns can be modest, especially over very long terms.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- Loan facility is capped at 80% of surrender value; interest currently around 9.5% p.a., reviewed twice yearly against G-Sec yields.
A non-participating guaranteed savings plan with four distinct payout structures — a one-time Maturity lump sum, a fixed-term Guaranteed Income, Life Long Income to age 99, or Long Term Income for 25-30 years.
You might need this if
- You might need this if you want a fully guaranteed (non-bonus-dependent) plan but with a choice of payout shape to match your goal.
- Useful for retirement income specifically via the Life Long Income option, which pays until age 99 and then returns your total premiums.
- Good for a defined medium-term need via the Guaranteed Income option (fixed 10 or 12-year payout after the term ends).
- Fits people who want to convert future income into a lump sum too — an optional Sum Assured on Maturity is available, calculated as the present value of future payouts.
How it actually works
- Entry age 18-50 (or 50-only for Life Long Income); minimum premium ₹30,000/year or Single Pay from ₹30,000.
- Guaranteed Maturity option: lump sum = total premiums paid + Guaranteed Additions accruing from a set policy year onward.
- Guaranteed Income option: fixed income for 10 or 12 years, starting the year after the policy term ends.
- Life Long Income: guaranteed income until age 99, plus return of total premiums paid at the end of the payout period.
- Long Term Income: guaranteed income for a fixed 25 or 30 years, plus return of premiums at the end.
- Death benefit (all options) = highest of a death multiple (up to 15x annualised premium, or 1.5x single premium, by age) or 105% of premiums paid; five optional riders available including Health Plus and LiveWell.
Worked example
A healthy 30-year-old pays ₹1,00,000/year for 10 years on the Long Term Income option (11-year term). Sum assured: ₹12,50,000. From year 12 he gets ₹97,750/year for 25 years, and at the end of that period a return of ₹10,00,000 (his total premiums paid). On the Guaranteed Maturity option with similar inputs (20-year term), the lump sum at maturity is ₹25,32,440.
The tiers
| Age at Entry (Single Premium) | Death Benefit Multiple |
|---|
| 0-5 | 1.50x |
| 20-21 | 1.40x |
| 50-65 | 1.25x |
Worth knowing
- This is a non-participating plan, but the brochure notes some income figures use a 9% discount rate assumption for optional lump-sum conversions — check the current rate at purchase.
- Once chosen, the plan option (Maturity / Guaranteed Income / Life Long Income / Long Term Income) cannot be changed during the policy term.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- The POS (point-of-sale) variant caps death cover at ₹25,00,000 and excludes riders.
Savings
Click 2 Achieve
+
A non-participating goal-based savings plan with two variants — Smart Student (education funding for a child) and Dream Achiever (flexible savings for any life goal, including an optional income stream).
You might need this if
- You might need this if you're saving specifically for a child's education — Smart Student is built around income paid out around ages 16-18.
- Useful for general goal-based saving (a big purchase, a business milestone, or retirement) via Dream Achiever, which lets you choose your own sum assured and optional income term.
- Good if you want a fully guaranteed number, since the plan is non-participating — no bonus uncertainty.
- Fits child achievers specifically — Smart Student includes a bonus payout for exceptional academic/sporting achievement.
How it actually works
- Smart Student: entry age 30 days-13 years, 10-14 year policy terms, 5-10 year premium payment; survival benefit paid over the last 3-5 years, starting age 16 or 18.
- Dream Achiever: entry age 30 days-65 years, very flexible 5-60 year policy terms and 5-35 year premium payment terms, with an optional income term.
- Minimum sum assured is ₹50,000; premium payment via annual/half-yearly/quarterly/monthly modes.
- Death benefit = highest of (10x annualised premium for Smart Student, or a chosen sum assured with a 7x minimum for Dream Achiever), 105% of premiums paid, or surrender value.
- Maturity benefit: Smart Student pays survival income in the final years; Dream Achiever pays a chosen lump sum plus an optional income stream afterward.
- Five optional riders: Accidental Disability Income, Protect Plus, Waiver of Premium, Health Plus, LiveWell.
Worked example
Sagar, age 5 (policy bought by father Maulik, age 40) targets ₹75,000/year of income for 3 years starting at age 16. Annual premium: ₹30,179 for 5 years (total ₹1,50,895 paid), giving total benefits during the policy of ₹2,25,000, on a 14-year term. Separately, Raj, age 40 (Dream Achiever), pays ₹30,000/year for 10 years (20-year term) to get a maturity lump sum of ₹3,00,000 plus ₹83,446/year income for 5 years after (total income ₹4,17,230).
Worth knowing
- This is a non-participating plan — the numbers illustrated are the guaranteed numbers, with no bonus component.
- Smart Student's 'Outstanding Achievement Award' (2x annualised premium bonus) requires meeting specific, narrow criteria (e.g., top-100 global university admission, Olympic qualification).
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- You can reduce premiums by up to 50% after 5 years, but all benefits scale down proportionally as a result.
Savings
Signature Capital Guarantee II
+
A combination offering pairing ICICI Pru Signature (market-linked ULIP) with ICICI Pru Guaranteed Income For Tomorrow (guaranteed-return plan), designed to give you both growth potential and a guaranteed floor equal to your total premiums.
You might need this if
- You might need this if you want market exposure but are nervous about losing your principal — this pairs a growth product with a guaranteed one so part of your money is protected.
- Useful if you'd rather split premiums automatically between a guaranteed plan and a ULIP instead of researching and buying two products separately.
- Fits if you're buying online, since this combination is only available through the online distribution channel.
- Good if you want the option to buy either product individually later — the combination isn't mandatory.
How it actually works
- Premium payment term is 5, 7, or 10 years, with matching policy term combinations (e.g., 5/15, 7/15, 10/20); minimum annual premium ₹60,000.
- Your premium is split between the two products in a 38-62% allocation range, depending on the specific plan configuration chosen.
- The Guaranteed Income For Tomorrow portion returns all premiums paid on maturity as a guaranteed benefit.
- The Signature (ULIP) portion offers market-linked growth from equity, balanced, and debt funds, with no guarantee on returns.
- Combined death benefit draws from both underlying products' individual death benefit terms.
- You cannot surrender or withdraw from the linked (ULIP) portion during the first 5 years.
Worked example
A 40-year-old paying ₹2,00,000/year for 7 years (₹14 lakh total): at age 55 maturity, the Guaranteed Income For Tomorrow portion pays a guaranteed ₹15.67 lakh, while the Signature (ULIP) portion pays about ₹12.38 lakh at 8% assumed return or ₹7.95 lakh at 4%. Combined life cover during the term is roughly ₹12.20 lakh plus ₹7.80 lakh from the two products.
Worth knowing
- This is two separate products bundled together, not a single unified plan — review both underlying product brochures.
- The ULIP (linked) portion carries full market investment risk; only the guaranteed-income portion is protected.
- No surrender or partial withdrawal on the linked product until the end of the 5th year.
- Illustrated returns on the ULIP portion are not guaranteed and not the upper or lower limit of what you might actually receive.
A combination offering of ICICI Pru EzyGrow (a child-focused ULIP) and ICICI Pru Guaranteed Income For Tomorrow, blending guaranteed capital protection with market-linked growth potential for family goals.
You might need this if
- You might need this if you're saving for a child's future (education, marriage) and want part of the plan guaranteed and part market-linked.
- Useful if you want a lower entry point than some ULIP combos — premiums here can start from a few thousand rupees a year.
- Fits if you like the idea of combining two ICICI Prudential products under one umbrella with a single easy purchase decision rather than picking separately.
- Good if you want life cover to sit alongside the savings — both underlying products pay a death benefit if the life assured dies during the term.
How it actually works
- Entry age 0-50; premium payment term 5, 7, or 10 years; policy term ranges 10-20 years depending on the term chosen.
- Sum assured under both products is 10 times the annualized premium.
- Minimum annual premium ranges from about ₹2,800 to ₹27,500, and maximum from ₹42,000 to ₹2,10,000, depending on the specific combination selected.
- The Guaranteed Income For Tomorrow portion returns your premiums with a guaranteed benefit at maturity.
- The EzyGrow (ULIP) portion invests in equity and debt funds for potential higher, but non-guaranteed, growth.
- On death during the term, nominees receive the sum assured amounts from each underlying product separately.
Worked example
A 30-year-old paying ₹50,000/year for 7 years (₹3,50,000 total) over a 15-year policy: at an assumed 8% return, total maturity value is about ₹6,42,966; at 4%, about ₹5,44,420. Breakdown: Guaranteed Income benefit contributes ₹3,84,065, while the EzyGrow portion adds ₹2,58,901 at 8% or ₹1,60,355 at 4%. On death, the nominee receives a combined life cover of roughly ₹3,10,000 plus ₹1,90,000 from the two products.
Worth knowing
- Like other combination products, this bundles two separate policies — review each product's individual brochure for full terms.
- Only the guaranteed-income portion has protected returns; the ULIP (EzyGrow) portion carries full market investment risk.
- Illustrated ULIP returns are not guaranteed.
- The products can also be purchased individually — the combination is optional, not mandatory.
Savings
Guaranteed Income For Tomorrow
+
A non-linked savings plan offering guaranteed lump sum or income payouts (with four plan variants) to fund goals like education, marriage, or retirement — no market risk involved.
You might need this if
- You might need this if you want a fixed, guaranteed outcome rather than market-linked uncertainty for a specific future goal.
- Useful if you want the flexibility to choose how you receive the payout — as a lump sum, regular income, early income starting from year 2, or income from a single one-time payment.
- Fits if you have irregular cash flow needs in retirement or want guaranteed income to start well before the policy term technically ends (Early Income option).
- Good if you're a single-premium investor who wants deferred guaranteed income without ongoing premium commitments (Single Pay Income option).
How it actually works
- Four plan options: Lump Sum (guaranteed maturity payout), Income (regular guaranteed payments post-premium term), Early Income (partial income from year 2, then larger deferred income), and Single Pay Income (one-time premium, income from year 2).
- Premium payment terms of 1-12 years; policy terms of 5-20 years; entry age 5-18 minimum up to 60-75 maximum depending on option.
- Minimum annual premium ₹12,000-₹1,00,000 depending on option; POS channel caps annual premium at ₹2,50,000.
- Death benefit is the highest of several guaranteed calculations (10x or 1.25x premium, 105% of premiums paid, or sum assured × a death benefit factor).
- Guaranteed Surrender Value factors range from 15% (year 1) up to 90% (year 8+) of premiums paid; policy loans available after one year, up to 80% of surrender value.
- Premium frequency options include single, annual, half-yearly, or monthly, with a small loading (3% half-yearly, 6% monthly) reducing effective payout slightly.
Worked example
Under the Lump Sum option, a 35-year-old male paying ₹1 lakh/year for 10 years receives about ₹22.28 lakh after 20 years. Under the Income option, a 35-year-old female paying the same receives roughly ₹1.79 lakh/year for 10 years (or ₹15,370/month). Under Early Income, a 35-year-old male gets ₹25,000/year from year 2-11, then ₹1,13,871/year for 10 years thereafter. Under Single Pay Income, a 35-year-old female paying once gets ₹12,585/year for 9 years.
The tiers
| Plan Option | How It Pays Out | Example Return (age 35, ₹1 lakh/yr, 10-yr pay) |
|---|
| Lump Sum | One-time payout at maturity | ~₹22.28 lakh after 20 years (male) |
| Income | Regular payments after premium term ends | ~₹1.79 lakh/year for 10 years (female) |
| Early Income | Partial income from year 2, larger income later | ₹25,000/year (yrs 2-11), then ₹1,13,871/year (yrs 12-21) (male) |
| Single Pay Income | One-time premium, income from year 2 | ₹12,585/year for 9 years (female) |
Worth knowing
- This is a guaranteed, non-market-linked plan — no equity upside, but no market risk either.
- Death benefit is not paid if death occurs exactly on the maturity date — only the maturity benefit applies.
- Suicide clause: within 12 months of commencement or revival, only 80% of premiums paid or surrender value (whichever is higher) is paid.
- Revival of a lapsed policy is allowed within 5 years, but requires paying arrears plus interest based on prevailing G-Sec yields.
A traditional (non-linked) savings and protection plan that builds guaranteed additions each year on top of a guaranteed maturity benefit, plus potential bonuses, for goal-based long-term saving.
You might need this if
- You might need this if you want predictable, guaranteed annual growth (Guaranteed Additions) rather than market-linked ups and downs.
- Useful if you're planning for a 10-30 year goal and want the discipline of fixed premiums with a known minimum outcome.
- Fits if you like plans where the longer you stay in, the higher your annual guaranteed addition rate gets (rising from 8-10% up to 15-18% of premium).
- Good if you also want potential non-guaranteed bonuses (reversionary and terminal) layered on top of the guaranteed base, for some upside without full market exposure.
How it actually works
- Entry age from 18; premium payment terms of 5, 7, 10, 12, 15, or 20 years; policy terms 10-30 years; minimum annual premium ₹30,000; minimum death sum assured ₹3,00,000.
- Guaranteed Additions accrue annually as a percentage of annualized premium — starting at 8-10% (years 1-5) and rising to 15-18% (year 16+), depending on your premium payment term.
- Maturity benefit is the higher of (Guaranteed Maturity Benefit + accrued additions + bonuses) or 100.1% of annualized premium.
- Death benefit is the higher of (Guaranteed Maturity Benefit + accrued bonuses/additions), 105% of premiums paid to date, or 10x annualized premium.
- If premiums stop after at least one year, the policy converts to reduced paid-up status with proportionally lower guaranteed benefits.
- Policy loans available up to 80% of surrender value; revival possible within 5 years of the first missed premium.
Worked example
A 35-year-old male with a 20-year term, 10-year premium payment term, ₹30,000/year premium: guaranteed maturity benefit alone totals about ₹3,52,848 (₹2,70,348 GMB + ₹82,500 Guaranteed Additions). Including illustrative (non-guaranteed) bonuses, total maturity value is about ₹4,34,729 at 4% assumed return or ₹7,11,463 at 8%.
The tiers
| Policy Year | Guaranteed Addition (5-7 yr PPT) | Guaranteed Addition (10-20 yr PPT) |
|---|
| 1-5 | 8% | 10% |
| 6-10 | 10% | 12% |
| 11-15 | 12% | 15% |
| 16+ | 15% | 18% |
Worth knowing
- Reversionary and terminal bonuses are not guaranteed — only the Guaranteed Maturity Benefit and Guaranteed Additions are locked in.
- A paid-up (lapsed but not fully surrendered) policy forfeits future bonuses, only keeping proportional guaranteed benefits.
- Suicide clause: within 12 months of start or revival, only 80% of premiums paid or surrender value (whichever higher) is paid.
- Premium payment terms cannot be changed once the policy starts.
A non-linked, non-participating whole-life plan aimed at legacy and wealth transfer for older buyers (40-65), with an increasing death benefit and a return-of-premium maturity benefit.
You might need this if
- You might need this if you're in your 40s-60s and want to pass on wealth to the next generation in a tax-efficient, structured way.
- Useful if you want life cover that grows over time rather than staying flat, so your legacy amount rises as you age.
- Fits if you want the reassurance that if you survive the whole-life term, you still get 100% of your premiums back rather than the policy simply expiring with nothing.
- Good if a terminal illness benefit that pays out the full death benefit early matters to you for end-of-life financial planning.
How it actually works
- Entry age 40-65; whole-life coverage up to age 99; minimum premium ₹5,00,000 (3-4 year premium terms) or ₹2,00,000 (5-15 year terms); women get up to a 10% discount on first-year premiums.
- Death benefit is the highest of minimum life cover, sum assured, 105% of total premiums paid, or surrender value, and the life cover itself increases over the policy term.
- Terminal illness benefit: 100% of the death benefit paid upfront if diagnosed with a terminal illness (life expectancy under 6 months, confirmed by two doctors).
- Maturity benefit: if you survive to the end of the whole-life term, you receive 100% of total premiums paid, and the policy ends.
- Death benefit can be taken as a lump sum, income spread over 5 years, or a combination; up to 10 nominees can be designated.
- After 5 years (on plans with 6+ year premium terms), you can reduce your annual premium to as low as 50% of the original amount, exercisable once; policy loans and complimentary health checkups are also available.
Worked example
A 55-year-old male paying ₹10 lakh/year for 7 years: life cover starts at ₹50 lakh, rises to about ₹58.97 lakh at age 56, about ₹1.02 crore by age 65, and reaches ₹5.41 crore by age 99 (on death).
Worth knowing
- This is a high-minimum-premium product (₹2-5 lakh/year) aimed at affluent buyers, not a mass-market plan.
- Policies issued from April 1, 2023 with aggregate annual premiums over ₹5 lakh may be taxable under current Income Tax Act provisions — check with a tax advisor.
- The premium-reduction option (down to 50%) can only be used once and only on plans with 6+ year premium terms.
- The maturity benefit only returns your premiums (100%) — this plan is not designed for market-linked growth.
Savings
Smart Lifetime Saver
+
A whole-life participating savings plan that pays a guaranteed yearly income for life once premiums stop, plus possible bonuses, with cover continuing up to age 100.
You might need this if
- You might need this if you want an income stream that starts after a fixed premium-paying period and continues for the rest of your life, not just for a set number of years.
- You might need this if you want life cover to stay in force well into old age (up to age 100) rather than ending at a typical 20-30 year term.
- You might need this if you want to build a policy for a child (entry from 30 days old) that keeps paying out across their lifetime.
- You might need this if you'd rather compound your payouts than draw them immediately - the plan lets you defer and accumulate the survival income with interest.
- You might need this if you want a participating (with-bonus) product where returns can rise with the insurer's performance, on top of a guaranteed floor.
How it actually works
- Choose a premium payment term of 10, 12, or 15 years, minimum annualized premium ₹30,000, with basic sum assured set at least 10x the annualized premium.
- After the premium-paying term ends, you receive a Guaranteed Survival Income every year for life, calculated as a percentage (roughly 1-3.5% depending on term and premium band) of the basic sum assured, stepping down in later decades.
- From policy year 7 onward, a non-guaranteed annual Cash Bonus may also be declared and paid alongside the guaranteed income.
- Death benefit is the higher of (Sum Assured on Death + accrued income/bonuses) or 105% of premiums paid; Sum Assured on Death is a multiple of annualized premium (11x-15x depending on entry age).
- At maturity (age 100), you get the Guaranteed Sum Assured on Maturity (equal to total premiums payable) plus any terminal bonus.
- Optional Accident Benefit Rider adds accidental death cover (up to ₹2 crore) or accidental partial permanent disability cover (up to ₹1.5 crore).
Worked example
For a 3-year-old insured with a 15-year premium term and ₹1 lakh annual premium (₹15 lakh total paid), the brochure illustrates guaranteed survival income of roughly ₹27,500-₹40,000 a year starting after the premium term, a non-guaranteed cash bonus of ₹8,500-₹59,000 a year from year 7, and a projected maturity value at age 100 ranging from ₹87.7 lakh (at 4% assumed growth) to ₹7.4 crore (at 8% assumed growth).
The tiers
| Premium Payment Term | Guaranteed Income Rate (yrs PPT to PPT+29) |
|---|
| 10 years | 2.25% of Sum Assured |
| 12 years | 2.75% of Sum Assured |
| 15 years | 3.50% of Sum Assured |
Worth knowing
- Illustrated 4%/8% return figures are not guaranteed; actual bonus depends on the insurer's investment performance.
- Guaranteed income rates step down after year PPT+30 and again after PPT+60, so income shrinks in very old age even though it continues for life.
- Surrender value only kicks in after one full year's premium, and full Guaranteed Surrender Value needs 2 consecutive years paid; early exit generally returns less than premiums paid.
- Suicide within 12 months of start or revival limits the payout to 80% of premiums paid rather than the full death benefit.
Savings
Smart Bachat Plus
+
A participating endowment savings plan offered in two variants (Life and Life Plus) that pays a lump sum at maturity plus bonuses, with an optional built-in accident benefit under the Life Plus option.
You might need this if
- You might need this if you want a straightforward savings-plus-protection endowment policy that pays out a lump sum at a fixed future date rather than periodic payouts.
- You might need this if you want the option to add accidental death and total permanent disability cover (Life Plus variant) without buying a separate rider policy.
- You might need this if you're comfortable with a 15-30 year commitment and want participating bonuses that can grow your payout beyond the guaranteed sum assured.
- You might need this if you want flexible premium terms - pay across the full policy term, or choose a limited pay option (7, 10, or 15 years) to finish paying early.
How it actually works
- Two variants: Life (entry from age 3) and Life Plus (entry from age 18, adds accident benefit), both with maximum entry age 50 and maturity by age 65.
- Premium options: Regular pay across the full term, or Limited Pay over 7/10/15 years; policy terms run 15-30 years (regular) or 20-30 years (limited pay).
- Minimum sum assured is ₹2,00,000 with minimum annualized premium around ₹12,000-₹15,000 depending on the option chosen.
- Death benefit is the higher of (Sum Assured plus vested and terminal bonuses) or 105% of total premiums paid.
- Maturity benefit pays the Sum Assured on Maturity plus any vested reversionary and terminal bonuses declared over the policy's life.
- Under Life Plus, an accidental total permanent disability event pays out the sum assured and waives future premiums, while base cover continues.
Worth knowing
- As a participating (with-bonus) plan, bonus rates are not guaranteed and depend on the insurer's investment and mortality experience.
- A full brochure/prospectus PDF was not locatable on SBI Life's public site at the time of research; details above are drawn from the plan's official product page and leaflet, not the full prospectus document.
- Early surrender before minimum paid-up conditions are met (generally at least one full year's premium) will yield less than premiums paid.
This insurer hasn't published a standalone brochure PDF for this plan — the notes above are drawn from their official product page instead.
Full page →
Savings
Smart Platina Supreme
+
A non-participating savings plan that pays a guaranteed income for a fixed payout period (15-30 years) after a short premium term, with an option to make that income increase each year.
You might need this if
- You might need this if you want a fully guaranteed (non-participating) income stream for a defined stretch of years - e.g. to fund a child's education or bridge into retirement - rather than a bonus-dependent payout.
- You might need this if you'd rather pay premiums for a short window (7, 8, or 10 years) and then receive years of guaranteed income afterward.
- You might need this if inflation-proofing your future payouts matters - the increasing income option escalates payouts 5% a year.
- You might need this if you want meaningful life cover (roughly 11x annual premium or more) during the premium-paying years while also building the income benefit.
How it actually works
- Choose a 7, 8, or 10-year premium payment term, minimum annualized premium ₹50,000, minimum sum assured ₹5,50,000.
- Pick a Level or Increasing (5% p.a. simple) guaranteed income option; income is paid over a chosen payout period of 15, 20, 25, or 30 years.
- Guaranteed Income = Guaranteed Income Factor x Annualized Premium x payout-frequency modal factor; premiums above ₹1 lakh/year unlock materially higher income factors.
- Death benefit during the term is the highest of 11x annualized premium, a formula based on guaranteed income and 110% of premiums payable, or 105% of premiums paid to date.
- At the end of the payout period, a final lump sum of 110% of total premiums paid is added on top of the regular income payments already received.
- Optional Accident Benefit Rider (not available via POSP/CPSC-SPV channel) adds accidental death cover up to ₹2 crore or accidental disability cover up to ₹1.5 crore.
Worked example
The brochure illustrates a 35-year-old paying ₹2,00,000/year for 10 years (₹20 lakh total) on a 15-year policy term with a 25-year payout: level guaranteed income of about ₹2,73,022 a year for 25 years (₹90.26 lakh total), against a life cover of ₹22 lakh during the premium term. Choosing the increasing-income option instead starts lower (~₹1,90,256 in year 1) but grows to ~₹4,18,563 by year 25, totalling about ₹98.1 lakh.
The tiers
| Annualized Premium Band | 7-yr PPT Factor | 8-yr PPT Factor | 10-yr PPT Factor |
|---|
| ₹50K–<₹1L | Nil | Nil | Nil |
| ₹1L–<₹2L | 4.60% | 4.20% | 3.70% |
| ₹2L–<₹5L | 7.00% | 6.30% | 5.30% |
| ₹5L–<₹10L | 8.30% | 7.50% | 6.50% |
| ₹10L+ | 8.80% | 8.00% | 7.00% |
Worth knowing
- This is a non-participating plan - figures quoted are guaranteed once terms are fixed, but premiums below ₹1 lakh/year earn no percentage-based income boost from the table.
- The Accident Benefit rider cannot be added if the policy is bought through the POSP/CPSC-SPV channel.
- Surrender value is only available after the first full year's premium (SSV) or two years (GSV); exiting early forfeits most of the built-in guaranteed income value.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value, whichever is higher.
Savings
Smart Platina Plus
+
A non-participating savings plan offering either a lump-sum-only "Life Income" structure or a guaranteed-income-plus-maturity "Guaranteed Income" structure, with limited premium terms of 6-10 years.
You might need this if
- You might need this if you want to choose between a simple lump-sum death benefit structure and a structured guaranteed-income-during-payout structure, depending on what your family needs.
- You might need this if you're 45+ and want a savings plan specifically designed with higher minimum entry ages in mind for many entry channels.
- You might need this if you want your premiums to stop relatively early (6-10 years) while payouts continue for up to 30 years after.
- You might need this if you want built-in flexibility to change the frequency of your income payouts before the payout period begins.
How it actually works
- Choose a limited premium payment term of 6, 7, 8, or 10 years; minimum annualized premium ₹50,000.
- Payout period options run 13 to 30 years depending on the premium term chosen; guaranteed income = Guaranteed Income Factor x annualized premium x modal factor.
- Maturity benefit under this plan returns 110% of total premiums paid at the end of the policy term.
- Under the Guaranteed Income option, death before the payout period pays a lump sum sum-assured; death during the payout period continues income to the nominee (or lets them take a discounted lump sum) in addition to the sum assured.
- Sum Assured on Death is the highest of 11x annualized premium, 105% of premiums paid to date, or a formula tied to guaranteed income and maturity benefit.
- Optional Accident Benefit Rider can add accidental death cover up to ₹2 crore or disability cover up to ₹1.5 crore.
Worked example
For a 35-year-old paying ₹1,00,000/year for 10 years (₹10 lakh total) under the Guaranteed Income option with a 15-year payout on a 26-year policy term, the brochure shows a guaranteed income of about ₹90,720 a year plus a maturity benefit of ₹11,00,000; a death in year 20 would pay roughly ₹12,75,414 plus the ₹90,720 annual income for the rest of the payout period.
Worth knowing
- Surrender value requires at least one full year's premium paid (SSV) or two years (GSV) before it becomes available.
- Changing the income payout frequency is only allowed within a nine-month window before the premium payment term ends.
- This is a non-participating product, so declared figures don't fluctuate with company profits, but they also can't exceed what's contractually guaranteed.
- Suicide within 12 months of start/revival caps the payout at 80% of total premiums paid.
Savings
New Smart Samriddhi
+
A small-ticket, non-participating endowment plan (no medical exam required) that builds simple-interest guaranteed additions on your premiums and pays a lump sum at maturity.
You might need this if
- You might need this if you want a modest, easy-to-qualify savings policy - no medical exam required and premiums can be as low as ₹12,000 a year.
- You might need this if you want a short, fixed commitment: pick a 12, 15, or 20-year policy term with premiums paid for roughly half that time (6, 7, or 10 years).
- You might need this if you want guaranteed (not bonus-dependent) growth on your savings via yearly guaranteed additions.
- You might need this if you're looking for a capped, disciplined savings product rather than an open-ended one - maximum annualized premium is ₹75,000.
How it actually works
- Choose a policy term of 12, 15, or 20 years, paired with a matching premium payment term of 6, 7, or 10 years; annualized premium ranges ₹12,000-₹75,000.
- Guaranteed Additions accrue at the end of each policy year at a simple rate of 5.5% (below ₹30,000/yr premium) or 6.0% (₹30,000+/yr) on cumulative premiums paid.
- Maturity benefit is projected at roughly 133% to 214% of total annualized premiums paid, depending on entry age and premium level.
- Death benefit pays the highest of the Basic Sum Assured, 10x annualized premium, or 105% of premiums paid to date, plus any accrued guaranteed additions.
- If premiums lapse after at least one full year, the policy becomes paid-up with proportionally reduced sum assured, guaranteed additions, and death benefit rather than lapsing entirely.
- No riders are highlighted for this product; it is a pure guaranteed-growth savings plan.
Worked example
For someone starting at age 29 with a ₹30,000 annual premium for 7 years (₹2,10,000 total paid) on a 15-year policy term, the brochure shows a basic sum assured of ₹2,05,800 and a projected maturity payout of ₹3,57,000, with guaranteed additions building up (₹1,800 in year 1, ₹3,600 in year 2, and so on).
The tiers
| Annualized Premium | Guaranteed Addition Rate (simple, p.a.) |
|---|
| Below ₹30,000 | 5.5% |
| ₹30,000 and above | 6.0% |
Worth knowing
- Maximum annualized premium is capped at ₹75,000, so this isn't suited to large savings goals.
- Sum assured band (₹58,000 to ₹9,11,000) is relatively modest compared to other SBI Life savings plans.
- Surrendering before at least one full year's premium is paid means no surrender value at all; before two consecutive years, only the non-guaranteed Special Surrender Value applies.
- Suicide within 12 months of start or revival caps payout at 80% of premiums paid or surrender value, whichever is higher.
Savings
Smart Platina Advantage
+
A non-participating savings plan that builds guaranteed additions (up to 11% p.a.) on your premiums over a 15, 20, or 30-year term and pays out the accumulated sum assured plus additions as a lump sum (or in instalments) at maturity.
You might need this if
- You might need this if you want a purely guaranteed lump-sum-at-maturity plan without depending on the insurer's declared bonuses.
- You might need this if you want higher potential guaranteed growth rates for larger premiums and longer terms - rates scale up to 11% p.a. for the largest, longest combinations.
- You might need this if you'd like the flexibility to take your maturity payout in instalments over 2-7 years instead of one lump sum.
- You might need this if you want life cover for a defined term (15, 20, or 30 years) while paying premiums for a shorter period (7 or 10 years).
How it actually works
- Choose premium payment term of 7 years (with 15 or 20-year policy term) or 10 years (with 20 or 30-year policy term); minimum annual premium ₹50,000.
- Guaranteed Additions accrue yearly at rates from roughly 6% to 11% p.a., scaling up with a higher premium band (₹50K-1L, ₹1L-2L, ₹2L+) and longer policy term.
- Death benefit is the higher of (Sum Assured on Death + accrued guaranteed additions) or 105% of total premiums paid; Sum Assured on Death is the higher of the stated sum assured or 11x annualized premium.
- Maturity benefit pays the Sum Assured on Maturity plus all accrued guaranteed additions as a lump sum by default.
- Optional settlement option lets you spread the maturity payout over 2-7 years in instalments instead of taking it all at once.
- Optional Accident Benefit Rider adds accidental death cover up to ₹2 crore or disability cover up to ₹1.5 crore.
Worked example
A 40-year-old paying ₹5,00,000/year for 10 years (₹50 lakh total) on a 20-year policy term is illustrated with a maturity benefit of ₹1,28,47,500 - more than double the total premiums paid - while a death in year 5 would pay out roughly ₹65,47,500.
The tiers
| Annualized Premium Band | Guaranteed Addition Range (p.a.) |
|---|
| ₹50,000–₹1L | 6.00%–10.00% |
| ₹1L–₹2L | 6.50%–10.50% |
| ₹2L and above | 7.00%–11.00% |
Worth knowing
- Guaranteed addition rates depend on both premium band and policy term length, so a shorter term or smaller premium earns meaningfully less than the headline 11% figure.
- Surrender value is only available after two consecutive full years of premiums have been paid.
- As a non-participating plan, there's no additional upside from company profits beyond the stated guaranteed additions.
- Suicide within 12 months of start/revival limits the payout to 80% of premiums paid or the surrender value, whichever is higher.
Savings
Smart Money Back Plus
+
A participating money-back plan that returns 90% of the sum assured in four increasing instalments during the policy term, then a final 40% plus bonuses at maturity.
You might need this if
- You might need this if you want periodic cash payouts during the policy term (e.g. for milestone expenses) rather than waiting until maturity for everything.
- You might need this if you still want the death benefit to stay fully intact even after you've already received money-back instalments.
- You might need this if you want a participating plan where bonuses can add to both the survival payouts and the final maturity amount over a long (up to 25-year) term.
- You might need this if you want flexible policy/premium terms - from a relatively short 7 years up to 20-25 years.
How it actually works
- Choose a policy and premium term of 7, 10, 12, or 20-25 years; minimum sum assured ₹2,00,000, minimum annual premium around ₹20,000.
- Survival benefits pay out 90% of the sum assured across the term in increasing instalments of roughly 15%, 20%, 25%, and 30% at set intervals (e.g. years 4, 8, 12, 16 for longer terms).
- Maturity benefit pays the remaining 40% of sum assured plus any vested reversionary bonus and terminal bonus - total benefits over the policy life work out to roughly 130% of sum assured plus bonuses.
- Death benefit - the higher of (Sum Assured on Death + bonuses) or 105% of premiums paid - is payable in full regardless of survival benefits already paid out.
- At maturity, you can choose a lump sum or spread the payout as instalments over 2-7 years.
- Optional Accident Benefit Rider adds accidental death cover up to ₹2 crore or disability cover up to ₹1.5 crore.
Worked example
A 30-year-old with a ₹5,00,000 sum assured over a 21-year term (7-year premium payment) paying about ₹73,004/year is illustrated receiving survival benefits of ₹75,000 (year 4), ₹1,00,000 (year 8), ₹1,25,000 (year 12), and ₹1,50,000 (year 16), plus a projected maturity benefit of roughly ₹2,10,500 to ₹5,96,900 depending on assumed bonus rates (4% vs 8%).
Worth knowing
- Illustrated 4%/8% figures for bonuses and maturity value are not guaranteed - actual bonus depends on the insurer's performance.
- Guaranteed Surrender Value only becomes available after two full policy years; before that, only the non-guaranteed Special Surrender Value (after year 1) applies.
- Suicide within 12 months of start/revival caps the death payout at 80% of premiums paid.
- High-sum-assured premium discounts (up to ~7%) only kick in for sum assured of ₹4 lakh or more.
Savings
Smart Money Back Saver
+
A participating money-back plan for longer 20-25 year terms that pays five increasing survival instalments totalling 130% of the sum assured, plus bonuses, with premiums payable across the full term.
You might need this if
- You might need this if you want more frequent, smaller money-back payouts (five instalments instead of four) spread across a longer 20-25 year horizon.
- You might need this if you're insuring a young child and want payouts timed to line up with schooling and early-adulthood milestones.
- You might need this if you want a participating plan with reversionary and terminal bonuses stacked on top of the guaranteed money-back schedule.
- You might need this if you want an optional accident rider you can size independently for accidental death vs. disability cover.
How it actually works
- Policy term runs 20-25 years, with premiums payable across the full term (regular pay only); minimum sum assured ₹3,00,000, minimum annual premium around ₹18,000.
- Survival benefits total 130% of sum assured, paid in five increasing instalments (roughly 10%, 15%, 25%, 35%, and a final 45% that doubles as the maturity payout) at defined intervals through the term.
- Maturity benefit is effectively the final (largest) survival instalment - 45% of sum assured - plus any vested reversionary and terminal bonus.
- Death benefit - the higher of (Sum Assured on Death + bonuses) or 105% of premiums paid - is payable in full regardless of survival benefits already received.
- You can elect to receive the maturity payout as instalments over 2-7 years instead of a lump sum, by notifying the insurer 3 months in advance.
- Optional Accident Benefit Rider lets you choose accidental death cover (up to ₹2 crore) and/or accidental partial permanent disability cover (up to ₹1.5 crore) separately.
Worked example
For a 1-year-old insured on a 20-year term with ₹5,00,000 sum assured (₹33,989/year premium, ₹6.8 lakh total paid), the brochure shows survival payouts of ₹50,000 at years 4, 8, 12, and 16, plus a final maturity payout illustrated at roughly ₹3,17,000 (4% assumed) to ₹5,70,000 (8% assumed), including the final ₹1,25,000 instalment.
The tiers
| Policy Year Milestone | Survival Benefit (% of Sum Assured) |
|---|
| Year 4/5 | 10% |
| Year 8/10 | 15% |
| Year 12/15 | 25% |
| Year 16/20 | 35% |
| Final year (maturity) | 45% |
Worth knowing
- Being participating, bonus rates (and hence the actual maturity value) are not guaranteed and depend on company performance.
- Guaranteed Surrender Value requires at least two consecutive years of premiums; the non-guaranteed Special Surrender Value is available after one year.
- Suicide within 12 months of start/revival caps the death payout to 80% of premiums paid or surrender value, whichever is higher.
- Entry age is capped lower than some sibling plans (maximum 45 years at entry), so it's less suited for older buyers.
Savings
Fortune Guarantee Plus
+
A guaranteed-return savings plan that pays you a fixed annual income for a long stretch of years after your premium-paying period ends, then returns all your premiums back at the end.
You might need this if
- You want a locked-in, non-market-linked income stream for a couple of decades (e.g., funding a child's future or an alternate retirement income)
- You want life cover in place while you save, not just a bank FD
- You're okay tying up money for a long single/limited/regular pay period in exchange for know-in-advance numbers
- (Option 2) You want built-in critical illness protection alongside savings
- You're a disciplined saver who won't need this specific money during the premium term
How it actually works
- Choose Single Pay, Regular Pay (premium term 5-12 yrs) or Limited Pay (premium term 5-12 yrs, policy term up to 17 yrs)
- After premiums stop, the plan pays a Guaranteed Annual Income (a fixed % of premiums) every year for an Income Period of 20-45 years
- Combined policy term + income period runs 25-50 years
- At the end of the income period, you also get a Return of Total Premiums Paid as a lump sum, on top of the income already received
- Built-in life cover pays a sum assured on death during the policy (Option 2 adds a critical illness benefit)
- Income can be taken annually or monthly
Worked example
For a 40-year-old male paying ₹1,00,000/year for 10 years (regular pay, 10-year policy term), the brochure illustrates a guaranteed annual income of about ₹92,330 during the income period, totalling roughly ₹37.7 lakh in benefits against ₹10 lakh paid in premiums.
The tiers
| Premium Term / Policy Term | Annual Premium | Total Premium Paid | Guaranteed Annual Income | Total Benefit Payout |
|---|
| 5 / 5 yrs | ₹1,00,000 | ₹5,00,000 | ₹32,540 | ₹14,76,200 |
| 10 / 10 yrs | ₹1,00,000 | ₹10,00,000 | ₹92,330 | ₹37,69,900 |
| 12 / 12 yrs | ₹1,00,000 | ₹12,00,000 | ₹1,23,990 | ₹49,19,700 |
Worth knowing
- Early surrender usually returns less than what you've paid in - this is built for people who won't need the money mid-way
- The base life cover floor can be quite low (as little as ₹50,000 on some single-life configurations) - it's a savings vehicle first, protection second
- Terms are guaranteed at issue but issuance itself isn't automatic - final premium depends on underwriting of your health and lifestyle
- Tax treatment depends on prevailing law at the time of payout, not just at purchase
Savings
Shubh Flexi Income Plan
+
A flexible savings-cum-protection plan where you pick from three payout styles - a lump sum at maturity, income during your premium-paying years, or income deferred to later in life - and can combine them.
You might need this if
- You want one policy that can double as a house-downpayment fund, an income top-up, or a later-life fund, depending on which option(s) you pick
- You like choosing when cash starts flowing back to you (immediately vs. after premiums stop vs. only at maturity)
- You want life cover with a bonus-linked (non-guaranteed) growth component rather than a purely fixed-return plan
- You want the option to keep the plan running even if the person paying premiums becomes unable to, via a waiver-style continuance feature
How it actually works
- Pick one of three structures at purchase: Endowment (lump sum at maturity), Early Income (cash bonuses start during the premium-paying term), or Deferred Income (cash bonuses start after premiums are done)
- Premium Payment Term is 5-12 years for limited pay, or matches the full policy term for regular/single pay; Policy Term runs 10-50 years
- Death benefit is Sum Assured on Death plus any accrued bonuses, with a floor of at least 105% of premiums paid
- Maturity benefit is a Sum Assured on Maturity (a multiple of total premiums, varying by option/term) plus accrued bonuses
- An optional Cover Continuance feature can keep the policy and death benefit going if the paying proposer becomes unable to continue
- Cash bonuses, where applicable, are not guaranteed - they depend on the insurer's actual investment performance each year
Worth knowing
- Bonuses/cash payouts under the Early or Deferred Income options are non-guaranteed; the brochure explicitly notes past bonus rates don't predict future ones
- Surrendering early typically returns less than total premiums paid
- Entry is available from 0 days old up to 65 years, but maturity age caps (up to 85, or 100 under a special option) shape how long a policy can run
- Riders, if any, come at extra cost and need separate confirmation with an advisor
Savings
Smart Value Income Plan
+
A traditional savings plan that pays out recurring cash bonuses (or lets them accumulate) on top of a guaranteed minimum maturity value, alongside built-in life cover.
You might need this if
- You want predictable cash bonus payouts (annual/half-yearly/quarterly/monthly) rather than one lump sum at the end
- You'd rather let bonuses accumulate and compound at a benchmark-linked rate than take them as cash, if you don't need the money right away
- You want a policy loan option available if you hit a cash crunch, rather than being forced into a full surrender
- You want the option to pause premiums during a spell of income loss without immediately losing death cover
How it actually works
- Entry age 30 days to 65 years; minimum premium around ₹24,000/year
- Choose Limited Pay (5-12 yr premium term, 20-50 yr policy term), Regular Pay (10-30 yrs, premium term = policy term), or Single Pay (10-50 yr term)
- Pick Cash Bonus (take declared bonuses as cash, or park them in a sub-wallet earning a set rate) or Accumulating Cash Bonus (bonuses compound at a benchmark-linked rate) at outset
- Death benefit is Sum Assured on Death plus accrued bonuses, with a guaranteed floor of 105% of total premiums paid
- Maturity benefit is a Sum Assured on Maturity (a multiple of total premiums payable) plus accrued bonuses
- Policy loans are available after year 1 (up to 80% of surrender value); a premium-postponement feature helps during unemployment/income loss
Worked example
For a 30-year-old paying ₹1,00,000/year for 8 years in a 40-year policy, the brochure's illustration shows a guaranteed maturity benefit of about ₹12.5 lakh, with the non-guaranteed cash-bonus components pushing the total higher under illustrative 4% and 8% assumed-return scenarios - and considerably higher still if bonuses are left to accumulate for the full term (these are illustrations, not promises).
Worth knowing
- Illustrated 4% and 8% return scenarios are not upper/lower limits of what you might actually get - bonuses are declared yearly and can be zero in a bad year
- Early surrender usually returns less than total premiums paid; a reduced paid-up status kicks in if you stop paying after year 1
- Revival after lapse is allowed for up to 5 years but comes with interest charges and fresh medical underwriting
- Paying half-yearly/quarterly/monthly instead of annually adds a modal loading, effectively raising the total outlay
Savings
Fortune Guarantee Secure
+
A guaranteed, non-participating savings plan built around a "sub-wallet" that grows your survival benefits at a set rate, with an option to start receiving income almost immediately after buying the policy.
You might need this if
- You want guaranteed (not market-linked) growth on money you're setting aside for a mid-to-long-term goal
- You like survival benefit payouts accumulating in a sub-wallet at a declared rate instead of being paid out and sitting idle
- You want to start receiving income within days of buying the policy rather than waiting years (via the "advanced income" option)
- You're a woman and want to benefit from the modest first-year premium discount some Tata AIA plans offer
How it actually works
- Choose from four plan options depending on whether you want income deferred to later years or almost immediately (from around day 3 under the "Advanced Income" option)
- Survival/income benefits can be left to grow in a Sub-Wallet, which earns a declared loyalty rate reviewed twice a year, rather than being paid out and left idle
- A Premium Offset feature lets you apply survival benefit payouts toward future premiums instead of paying cash
- Life cover runs for the full policy term, so the plan doubles as protection while it saves
- Female policyholders get a small first-year premium discount
Worth knowing
- Not a guaranteed-issuance product - final terms depend on underwriting and health disclosures
- Quoted premiums and sub-wallet returns are before taxes/duties, which are added on top and are the policyholder's responsibility
- As with most such plans, surrendering early usually means getting back less than you've paid in
- Specific ages, terms, and guaranteed rates vary by the plan option chosen - the official brochure PDF could not be directly accessed for this card, so confirm exact figures via a current benefit illustration
This insurer hasn't published a standalone brochure PDF for this plan — the notes above are drawn from their official product page instead.
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Savings
Capital Guarantee & Immediate Income Solution
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A bundled "combo" solution pairing a guaranteed-income traditional plan with a ULIP, aiming to combine locked-in income with a shot at market-linked growth in one paired purchase.
You might need this if
- You want a chunk of guaranteed income plus some market exposure, without shopping for two separate policies yourself
- You're comfortable holding two linked policies together as a package rather than one single plan
- You want life cover on both the traditional and ULIP legs of the combo
- You're prepared to hold for the 12+ year combined term these combos are typically structured around
How it actually works
- Bundles two underlying Tata AIA products together - typically a traditional guaranteed-income plan bought alongside a ULIP
- Minimum combined premium around ₹50,000/year, in common premium-term/policy-term pairings (e.g., 7-year pay / 15-year term, or 10-year pay / 17-year term)
- The traditional leg pays a guaranteed regular income during the policy term and returns total premiums at the end of the income period
- The ULIP leg's maturity value depends on fund performance - it is explicitly not guaranteed
- Partial withdrawals from the ULIP portion are typically allowed once the fund has been running a few years
- You can usually pick a guaranteed maturity payout percentage (e.g., 80%/100%/150%/200% of a specified amount) on the traditional leg
Worked example
One published illustration for a 35-year-old paying ₹2,00,000/year for 7 years (₹20 lakh sum assured, 20-year term) shows a guaranteed annual income of roughly ₹30,968 plus a guaranteed maturity payout of around ₹9.45 lakh from the traditional leg - with the combo's blended return, once the ULIP piece is included, working out closer to a conservative debt-like return than an aggressive equity return.
Worth knowing
- Because it bundles a guaranteed plan with a ULIP, effective blended returns can end up similar to (or lower than) plain debt instruments once charges are netted out - it's worth comparing against buying term insurance plus a separate mutual fund
- Two policies mean two sets of charges, surrender rules, and paperwork, not one
- The ULIP portion carries market/investment risk borne entirely by you
- This card is pieced together from third-party analysis of a published illustration rather than Tata AIA's own brochure, which wasn't directly retrievable - confirm exact structure and figures with a current benefit illustration
This insurer hasn't published a standalone brochure PDF for this plan — the notes above are drawn from their official product page instead.
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Savings
Capital Guarantee Solution
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A combo of a market-linked ULIP and a guaranteed non-linked savings plan sold together, letting you split money between locked-in capital protection and equity-linked growth potential.
You might need this if
- You want part of your money in something growth-oriented (an equity-linked fund) and part in something capital-protected, without managing two separate purchases
- You're comfortable with a long entry window (roughly ages 18-50) and a multi-year premium commitment (7 or 10 years)
- You want the option to choose how much of your premium is capital-guaranteed (e.g., 80%, 90% or 100%) versus market-linked
- You want life cover that increases over the term as part of the package
How it actually works
- Combines a ULIP (e.g., a Fortune Pro / Wealth Pro style unit-linked plan) with a traditional guaranteed savings plan (e.g., a Smart Income Plus style plan) bought together
- Entry age typically 18-50; premium terms of 7 or 10 years, with policy terms around 15 or 21 years respectively
- You select a capital guarantee percentage (commonly 80%/90%/100% of total premiums) as the protected floor on the guaranteed leg
- The ULIP leg lets you choose among multiple funds; maturity value there depends purely on fund performance
- Partial withdrawals from the ULIP fund are generally allowed after an initial lock-in (commonly around 5 years)
- Death benefit provides increasing life cover across the term, split across the two underlying policies
Worth knowing
- The actual capital-guarantee percentage, surrender charges, and fund choices depend on which underlying products are bundled at the time you buy - always check the current benefit illustration
- The market-linked leg carries investment risk that you bear, not the insurer
- Two bundled policies mean two sets of charges and terms to track over the life of the combo
- This summary draws on third-party plan reviews rather than Tata AIA's own product page, which wasn't directly retrievable - verify specifics before purchase
This insurer hasn't published a standalone brochure PDF for this plan — the notes above are drawn from their official product page instead.
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Savings
Capital Guarantee & Income Solution
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Another Tata AIA "combo" plan pairing capital-guarantee savings with income and market-linked growth - broadly similar in spirit to its sibling Capital Guarantee combos, though this card is based on general category knowledge, not the plan's own brochure.
You might need this if
- You like the general idea of splitting savings between a capital-protected component and market-linked growth, similar to Tata AIA's other Capital Guarantee combo plans
- You want a combo product that also promises some form of regular income rather than a pure lump-sum maturity payout
- You're comfortable bundling two underlying policies (typically a ULIP plus a traditional plan) rather than buying one simple plan
- You're willing to commit to a multi-year premium term in exchange for a capital-guarantee floor
How it actually works
- Category-typical for a Tata AIA "combo" plan: likely bundles a market-linked ULIP with a traditional non-linked plan that provides an income stream and/or capital guarantee
- Probably offers a choice of guaranteed-capital percentage on the traditional leg, similar to its sibling Capital Guarantee plans
- The ULIP leg's returns would depend on fund performance and are not guaranteed
- Death benefit would typically combine cover from both underlying policies
- Premium payment term and policy term structures are likely in the same broad range as similar Tata AIA combo plans (multi-year pay, decade-plus term)
Worth knowing
- This card is built from general knowledge of how Tata AIA structures its "Capital Guarantee" combo family, not from this specific plan's own brochure or product page, which could not be located or accessed
- Do not rely on any bullet above for exact ages, premiums, or guarantee percentages - request the current benefit illustration from Tata AIA directly
- As a combo of a ULIP and a traditional plan, expect two sets of charges and terms rather than one simple structure
- Capital protection language in these plans typically applies to a defined percentage of premiums, not the full amount, and usually only if held to term
No public brochure found. The points above are general pointers based on this plan's name and category, not verified against the actual document — confirm details with the insurer before relying on them.
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