Signature Assure

What this product is

A market-linked ULIP that pairs equity/debt fund growth with life cover, and pays your family an ongoing income (not just a lump sum) if you die during the term.

You might need this if…

• You might need this if you want market-linked growth but also want your family to get a regular income, not just a one-time payout, if something happens to you.
• Useful if you're investing for a 15-25 year goal (child's education, retirement corpus) and want the discipline of a linked insurance policy over pure mutual funds.
• Fits if you like having five different investment strategies (fixed, target allocation, auto-transfer, trigger-based, lifecycle) to match your risk comfort as you age.
• Worth considering if you want a plan that returns at least your premiums paid at maturity as a floor, provided you don't make partial withdrawals.
• Good if you're comfortable with a 5-year lock-in and don't need the money sooner.

How it actually works

• Choose a policy term of 15-25 years with a premium payment term of 5-15 years; minimum premium starts around ₹30,000-₹48,000/year depending on term and frequency.
• Sum assured is 7-10 times your annualized premium; you pick from over 30 funds across equity, balanced, and debt risk categories.
• On death, the "Smart Benefit" pays a lump sum (higher of Sum Assured or Minimum Death Benefit), waives future premiums, and also pays your family an annual "Family Income Benefit" of 0-10% of Sum Assured until maturity while the fund keeps growing.
• At maturity you get the fund value, plus loyalty additions of 2.5% every 5 years starting year 10, with a "Maturity Protect" floor equal to total premiums paid (if no partial withdrawals were taken).
• No premium allocation charge; fund management charge is 1.35% p.a. (0.75% for index funds); up to 4 free portfolio-strategy changes per year.
• After the 5-year lock-in, you can make partial withdrawals (up to 20% of fund value/year) or set up a Systematic Withdrawal Plan for supplementary income.

Worked example

Worth knowing before you decide

• 5-year lock-in — no full surrender or withdrawal allowed before that; if you stop paying, money moves to a Discontinued Policy Fund earning a minimum 4% p.a.
• Returns are not guaranteed — entirely dependent on market performance of the funds chosen.
• No policy loans available under this plan.
• If death occurs within 12 months of buying or reviving the policy (suicide clause), only the fund value is paid, not the sum assured.

Official source

⌟ Official product brochure

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