Platinum

What this product is

A flexible ULIP offered in two variants — Growth Plus for wealth-focused investors and Protect Plus for those wanting extra life cover — with over 35 fund choices and long policy terms up to 30 years.

You might need this if…

• You might need this if you want to choose between prioritizing growth or prioritizing protection within the same plan family.
• Useful if you're planning for a very long horizon (up to 30-year policy term) and want to participate in equity markets over decades.
• Fits if you want a wide menu of 35+ funds and multiple auto-rebalancing strategies (lifecycle, trigger-based, target allocation) rather than picking funds manually.
• Good if you may need to reduce your premium by up to 50% after 5 years without losing the policy, giving you flexibility if finances change.

How it actually works

• Two variants: Growth Plus (death benefit = highest of Sum Assured, fund value, or 105% of premiums) and Protect Plus (death benefit = Sum Assured + fund value, for those wanting more protection).
• Entry age 0-50 (Growth Plus, limited pay) or up to 60 (single pay); minimum annual premium ₹60,000 (₹72,000 for non-annual modes) or ₹2,50,000 single pay.
• Sum assured ranges 1.25x-10x annualized premium (Growth Plus) or 5x-10x (Protect Plus).
• No premium allocation charge; fund management charge 1.35% p.a. (0.75% for index funds); policy administration charge capped at ₹500/month.
• Top-ups (min ₹500), unlimited free switches, partial withdrawals after the 5-year lock-in (up to 20% of fund value/year), and a Systematic Withdrawal Plan are all available.
• Maturity can be taken as a lump sum or spread over 1-5 years via a settlement option.

Worked example

Worth knowing before you decide

• 5-year lock-in; no liquidity or partial withdrawals before that.
• Discontinuing premiums during lock-in moves your money to a Discontinued Policy Fund earning a minimum 4% p.a.
• Investment risk is entirely borne by the policyholder — no guaranteed returns on the linked funds.
• Suicide clause: only fund value paid if death occurs within 12 months of policy start or revival.

Official source

⌟ Official product brochure

Learn about this category

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