Sampoorn Nivesh Plus

What this product is

A ULIP savings plan with 15 fund choices and four benefit structures (Classic Benefit, Classic Plus, Classic Waiver, Classic Waiver Plus), plus loyalty additions that grow through the policy term.

You might need this if…

• You might need this if you want a wide selection of funds (15 options, from pure equity to bond) to build your own investment mix inside a life cover wrapper.
• You might need this if you want your dependents' investment goal to continue even if you die mid-way, through the Waiver options that keep funding the plan and add a monthly income.
• You might need this if you're comfortable locking money away for 5 years in exchange for potential loyalty additions and a direct marketing bonus.
• You might need this if you want a plan that can run to whole of life (up to age 99) rather than a fixed term.

How it actually works

• Entry age from 30 days up to varying maximums by option; policy term 10-35 years fixed, or up to whole of life.
• Death benefit depends on option: Classic Benefit pays the higher of sum assured, fund value, or 105% of premiums; Classic Plus adds sum assured plus fund value; Waiver options add premium waiver and/or income benefit (0.5-2% of sum assured, 5-20 years).
• Premium allocation charge is capped at 12.5%, fund management charge capped at 1.35% p.a. (0.5% for the discontinued fund), and policy admin charge capped at ₹500/month.
• Loyalty additions range from 1.2-1.8% of average fund value every alternate year (from year 11) for regular/limited pay, or 1.5% annually (years 10-14) for single premium.
• Maturity benefit is the fund value, payable as a lump sum or spread across a 5-year settlement period.

Worked example

Worth knowing before you decide

• The brochure explicitly states linked products like this offer no liquidity during the first 5 years.
• If premiums lapse during the lock-in, the discontinued fund only guarantees a 4% p.a. floor return.
• Illustrated 4%/8% returns are not guaranteed - actual maturity value depends entirely on market performance of the funds chosen.

Official source

⌟ Official product brochure

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