Index Plus

What this product is

A unit-linked (market-linked) life insurance plan with two equity-oriented, NIFTY50-linked fund options, offering life cover alongside investment growth potential.

You might need this if…

• You might need this if you want combined life cover and equity-market-linked investment growth in a single product.
• You might need this if you're comfortable with investment risk and want exposure to a NIFTY50-tracking fund or a broader equity fund.
• You might need this if you want periodic guaranteed additions layered onto your fund value at set milestones (years 6, 10, 15, 20, 25).
• You might need this if you can commit to at least a 5-year lock-in without needing the money.

How it actually works

• Entry age 90 days to 50 years (for 10x sum assured cover) or up to 60 years (for 7x cover); policy term 10-25 years.
• Minimum yearly premium ₹30,000 (other modes pro-rated); premium allocation charge starts at 8% (offline) or 3% (online) in year 1, reducing over time.
• Choose between the Flexi Growth Fund (40-100% equity) or Flexi Smart Growth Fund (40-100% NIFTY50-linked exposure), both classified "Very High Risk".
• Fund Management Charge 1.35% p.a.; mortality charge is age-based (e.g. ₹1.26 per ₹1,000 sum at risk at age 25); policy admin charge is nil for 5 years then a minimum monthly charge from year 6.
• Death benefit is the highest of Basic Sum Assured (less recent partial withdrawals), the fund value, or 105% of total premiums paid.
• Maturity benefit equals the fund value on the maturity date; Guaranteed Additions (3-30% of annual premium depending on premium size) are injected into the fund at years 6, 10, 15, 20 and 25.

Worked example

Worth knowing before you decide

• As a ULIP, the investment risk is borne entirely by the policyholder — returns are not guaranteed and can be negative.
• Strict 5-year lock-in: no liquidity or withdrawal at all in the first 5 years; surrendering during this period moves your money into a Discontinued Policy Fund.
• No policy loans are available, and the Basic Sum Assured cannot be increased or decreased after the policy is issued.

Official source

⌟ Official product brochure

Learn about this category

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