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Term
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Click 2 Protect Supreme Plus
A flexible term plan with three variants (Life, Life Plus, Life Goal) offering optional return of premium, accidental death cover, and family-friendly payout structures.
You might need this if
- You might need this if you want pure high-value life cover at a low cost for family income replacement.
- You might need this if you want to add accidental death cover, or have your family's payout delivered as regular income instead of a lump sum (via the Parent Secure or Education Income Benefit features).
- You might need this if you want all your premiums back at the end of the term when you outlive it (optional Return of Premium).
- You might need this if you anticipate life changes like marriage, a home loan, or a new child, and want to increase your cover later without a fresh medical check (Life Stage Option).
- You might need this if you want the option to pause premiums temporarily during a financial crunch without losing coverage.
How it actually works
- Entry age 18-84 (the Life Goal option caps at 65); pay Regular, Limited (2-25 years), or Single Pay.
- Minimum sum assured is ₹10,000-50,000 depending on the plan option chosen; there's no cap for entry ages up to 65.
- Death benefit is the higher of the sum assured or 105% of premiums paid, targeted to be paid within one working day of claim registration (after a 1-year waiting period).
- Terminal illness benefit accelerates up to ₹2 crore of the death benefit if diagnosed within 6 months of a terminal condition (available until age 80).
- Riders available include Income Benefit on Accidental Disability, Health Plus (critical illness), and LiveWell (multi-benefit).
- Female policyholders get a 15% premium discount; high sum assured (₹10 crore+) and existing-customer/spouse discounts also apply.
Worked example
Mr. Bansal, a 35-year-old businessman earning ₹14 lakh/year, buys ₹1 crore cover for a 40-year term: first-year premium ₹23,119, then ₹25,688/year after. If he dies in policy year 7 (having paid ₹1,77,248 total), his nominee receives the full ₹1 crore.
Worth knowing
- Suicide within 12 months of starting or reviving the policy limits the payout to 80% of premiums paid or the surrender value, whichever is higher.
- Without the Return of Premium option, there's no payout at all if you survive the full term.
- Pre-existing diseases are only covered after 36-48 months, and a lapsed policy must be revived within 5 years (at 9% p.a. interest) or cover lapses permanently.
- Claims from war, hazardous sports, or non-scheduled aviation are excluded.
Term
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Click 2 Protect Life
A term plan with three variants - a straightforward death-benefit plan, one that rebalances between life cover and critical illness cover, and one that adds monthly income after age 60.
You might need this if
- You might need this if you want a simple lump-sum term plan (Life Protect) for income replacement.
- You might need this if you want your cover to automatically shift toward critical illness protection as you age (Life & CI Rebalance), so a serious diagnosis doesn't wipe out your family's safety net.
- You might need this if you want your death benefit to also fund steady monthly income after retirement (Income Plus).
- You might need this if you want the reassurance of getting all your premiums back at the end of the term if nothing happens (optional Return of Premium).
How it actually works
- Entry age 18-65 (varies by variant); policy term 10-40 years or whole of life; minimum sum assured ₹50,000, with no stated maximum subject to underwriting.
- Premiums can be Single, Regular, or Limited Pay (5/10/15 years), paid annually, semi-annually, quarterly, or monthly.
- Death benefit is the highest of the sum assured, 105% of premiums paid, or (for Life & CI Rebalance) the life cover amount fixed at the time.
- Life & CI Rebalance pays a critical illness lump sum from 36 covered conditions and waives future premiums on diagnosis, while the remaining life cover reduces correspondingly.
- Income Plus pays a monthly amount (0.1% of sum assured) from age 60 onward, plus a maturity payout on fixed-term versions.
- Optional riders include Income Benefit, Protect Plus, and Health Plus.
Worked example
A 45-year-old buys ₹1 crore cover under Life & CI Rebalance for 20 years at ₹68,295/year. If diagnosed with a critical illness in year 7, they receive a ₹29 lakh payout and premiums are waived; if they later die in year 13, the nominee receives the remaining ₹71 lakh, having paid ₹4,78,065 in total premiums.
Worth knowing
- Suicide within 12 months of starting or reviving the policy limits the payout to 80% of premiums paid.
- Pre-existing diseases diagnosed within 36 months before the policy starts are excluded.
- High-risk activities (mountaineering, scuba diving, professional sports) and diagnoses made outside India are excluded.
- If premiums lapse, revival is only possible within 5 years, at 9.5% p.a. interest.
Term
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Click 2 Protect Elite Plus
A high sum assured term plan (minimum ₹50 lakh cover) with an option to get all premiums back, plus a 'smart exit' feature that returns your money early if you no longer need the cover.
You might need this if
- You might need this if you want large term cover (₹50 lakh+) with the flexibility of Single, 5/10/15-Pay, or Regular Pay premium terms.
- You might need this if you want the reassurance of getting your premiums back at maturity (optional Return of Premium) rather than losing them if you survive the term.
- You might need this if you think you might not need the full term - the Smart Exit Benefit lets you withdraw total premiums paid after policy year 25.
- You might need this if you want to pause premiums temporarily during a cash crunch without losing coverage (Premium Break Benefit).
How it actually works
- Entry age 18-45; policy term 10-40 years; minimum sum assured ₹50 lakh, with no stated maximum subject to underwriting.
- Death benefit is the highest of the basic sum assured, 10x annualised premium, or 105% of total premiums paid.
- Immediate Payout feature releases up to ₹5 lakh within 1 working day of claim intimation (after the 1-year waiting period, for base cover ≥₹2 crore).
- Smart Exit Benefit returns total premiums paid if you choose to exit after policy year 25 (unavailable if you've taken the Return of Premium option).
- Riders available: Income Benefit on Accidental Disability, Protect Plus (accident/cancer), Health Plus (60 critical illnesses), and Waiver of Premium.
Worked example
A 30-year-old male buys ₹2 crore cover on a 10-Pay term, paying ₹31,369 in year 1 and ₹37,794/year from year 2 onward. If he dies in policy year 7, his nominee receives the full ₹2 crore.
Worth knowing
- Without the Return of Premium option, the policy pays nothing if you survive the full term.
- No policy loans are available against this plan.
- Suicide within 12 months limits the payout to 80% of premiums paid or surrender value, whichever is higher.
- Grace period is 30 days for annual/half-yearly/quarterly premiums and 15 days for monthly.
Term
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Click 2 Protect Ultimate
A high-value term plan (₹1-3 crore cover) with Single, Regular, or Limited Pay options and a choice to receive the death benefit as instalments instead of a lump sum.
You might need this if
- You might need this if you want large term cover in the ₹1-3 crore range with flexible payment structures.
- You might need this if you'd rather your family receive the payout as a steady income over 5-15 years instead of a single lump sum, to guard against it being spent too quickly.
- You might need this if you want the option to change your premium payment frequency during the term as your cash flow changes.
- You might need this if you'd like an option to exit early (Smart Exit Benefit) and get your premiums back between policy years 26-35.
How it actually works
- Entry age 18-50; policy term 1-40 years; sum assured range is ₹1 crore to ₹3 crore.
- Death benefit is the higher of the sum assured or 105% of total premiums paid (with a 10x annualised premium factor for non-Single Pay).
- Terminal illness benefit accelerates up to ₹2 crore of the death benefit if diagnosed within a 6-month window, available until age 80.
- Death Benefit as Instalment option spreads the payout over 5-15 years, with interest linked to the 10-year G-Sec yield.
- Optional Return of Premium pays back 100% of premiums at maturity if you survive the term.
Worked example
A 35-year-old male buys ₹1 crore cover for a 40-year term (regular pay) at ₹23,038/year. If he dies in policy year 7, his nominee receives the full ₹1 crore.
Worth knowing
- Sum assured is capped between ₹1-3 crore, so it isn't suited if you need cover outside that band.
- Suicide within 12 months limits the payout to 80% of premiums paid or the surrender value, whichever is higher.
- Non-disclosure of cancer or auto-immune conditions is subject to underwriting scrutiny and can affect claims.
- Revival after a lapse is only possible within 5 years, at 9.5% p.a. interest.
ULIP
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Click 2 Invest Plus
A ULIP savings plan with four benefit structures (Classic, Classic Plus, Classic Waiver, Classic Waiver Plus) and a choice of 10 funds, letting you tailor how much protection versus premium-waiver benefit you want alongside your investment.
You might need this if
- You might need this if you want a single plan combining life cover and market-linked investing, available from 30 days old through age 65 at entry.
- You might need this if you want your family's investment goal protected even if you're not around - the Classic Waiver options continue funding the plan and/or add a monthly income if the policyholder dies.
- You might need this if you want control over your asset allocation across 10 funds spanning equity-heavy to pure bond options, with free switching.
- You might need this if you value loyalty additions that boost your fund value over the long term rather than a plain ULIP.
How it actually works
- Entry age from 30 days (Classic/Classic Plus) or 18 years (Waiver options) up to 65; minimum term 5 years, up to 99 years for Classic.
- Death benefit varies by option: Classic pays the higher of sum assured, fund value, or 105% of premiums; Classic Plus pays sum assured PLUS fund value; the Waiver options add premium waiver and/or a monthly income benefit (0.5-2% of sum assured for 5-20 years).
- Maturity benefit is the fund value plus any credited loyalty additions.
- Charges include a fund management charge capped at 1.35% p.a., a policy admin charge capped at ₹500/month, and a discontinuance charge that phases out by year 5.
- Three plan tiers (Growth, Loyalty, Loyalty Plus) offer different loyalty additions, such as return of mortality charges or periodic fund value enhancers.
- 4 free fund switches, withdrawals, or redirections per year; charges apply beyond that.
Worked example
A 35-year-old paying ₹1 lakh/year for 20 years (₹20 lakh total, ₹10 lakh sum assured) sees a projected fund value between roughly ₹24.9-26.9 lakh at an assumed 4% return, or ₹39.3-42.0 lakh at an assumed 8% return, depending on the plan option chosen.
The tiers
| Option | Death benefit adds |
|---|---|
| Classic | Higher of sum assured / fund value / 105% of premiums |
| Classic Plus | Sum assured + fund value |
| Classic Waiver | Sum assured + waiver of future premiums |
| Classic Waiver Plus | Sum assured + premium waiver + monthly income (0.5-2% of SA, 5-20 yrs) |
Worth knowing
- There's a mandatory 5-year lock-in with no liquidity; early discontinuance routes your money to a Discontinued Policy Fund earning only a 4% p.a. floor until year 5.
- Returns are market-linked and not guaranteed - the investment risk is entirely yours.
- Partial withdrawals are only allowed after 5 years, and you must maintain a minimum fund balance.
ULIP
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Sampoorn Nivesh Plus
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
A 35-year-old paying ₹1 lakh/year for a 30-year term under Classic Plus Benefit sees a projected maturity value of about ₹12.09 lakh at an assumed 4% return, or ₹39.35 lakh at an assumed 8% return; on death during the term, the nominee gets the ₹20 lakh sum assured plus the fund value.
Worth knowing
- 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.
ULIP
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Smart Protect Plus
A ULIP with four cover structures - level or decreasing cover, each with an optional capital guarantee - so you can dial in how much of your death benefit stays fixed versus how much you want a guaranteed minimum maturity payout.
You might need this if
- You might need this if you want life cover to stay constant through the term (Level Cover) rather than reducing over time.
- You might need this if you'd rather your cover taper off after an initial period (Decreasing Cover), for example once big loans are paid down, in exchange for potentially lower charges.
- You might need this if market-linked ULIP returns feel too uncertain - the Capital Guarantee variants promise a minimum maturity benefit equal to premiums paid, regardless of fund performance.
- You might need this if you want a very long-term policy that can run all the way to age 99.
How it actually works
- Life Assured entry age 0-60 (30 days minimum); policy term up to 25-99 years; premium term is Limited Pay (5-20 years) or Regular Pay.
- 10 non-guarantee funds and 2 dedicated guarantee funds (Capital Growth, Capital Secure) are available, plus a 0.50% p.a. guarantee charge on the guaranteed options.
- Death benefit is the highest of the sum assured (minus withdrawals), fund value, or 105% of total premiums paid.
- Maturity benefit for non-guarantee options is fund value plus loyalty additions; for guarantee options it's the higher of that or the guaranteed maturity benefit (total premiums paid minus withdrawals).
- Wealth Boosters include a return of 2-3x mortality charges from year 11, a return of premium allocation charges, and a maturity booster of 1-2x annualised premium.
Worked example
Mr. Kumar, age 30, buys ₹1 crore Level Cover with a 40-year term and 10-year premium payment of ₹1 lakh/year. Projected maturity value is ₹36.17 lakh at an assumed 4% return, or ₹1.13 crore at an assumed 8% return; if he dies during the term, his nominee gets the highest of the ₹1 crore sum assured, fund value, or 105% of premiums paid.
The tiers
| Option | Cover type | Capital guarantee |
|---|---|---|
| A | Level Cover | No |
| B | Level Cover | Yes |
| C | Decreasing Cover | No |
| D | Decreasing Cover | Yes |
Worth knowing
- 5-year mandatory lock-in with no surrender or withdrawal allowed during that period.
- The capital guarantee only protects premiums paid at maturity, not the death benefit or an early exit value.
- Illustrated 4%/8% returns are not guaranteed for the non-guarantee fund options.
ULIP
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Click 2 Wealth
A ULIP with three variants - Invest Plus for straightforward wealth building, Premium Waiver to protect the goal if the payer dies, and Golden Years for whole-of-life cover with retirement income via withdrawals - across 19 fund choices with zero allocation or admin charges.
You might need this if
- You might need this if you want a ULIP with no premium allocation or policy administration charges eating into your investment.
- You might need this if you're saving for a child's future and want the plan to keep growing even if you (the premium payer) die before the goal is reached (Premium Waiver option).
- You might need this if you want a single plan that converts into a retirement-income tool later in life via the Golden Years Benefit and systematic withdrawals.
- You might need this if you want a very wide fund menu (19 options, including a liquid fund) with unlimited free switching for rebalancing.
How it actually works
- Life Assured entry age 0 (30 days) to 60; policy term 10-40 years for Invest Plus, or to age 99 for Golden Years; premium term is Single, Limited (5/7/10 years), or Regular (10-40 years).
- Death benefit is the highest of the total sum assured (minus recent withdrawals), the fund value, or 105% of premiums paid.
- Fund management charge is 0.80% p.a. for debt-oriented funds and 1.35% p.a. for equity funds; there is no premium allocation or admin charge, and switching/withdrawal/surrender are free.
- A Special Addition of 1% of annualised premium is added to the fund value each year for the first 5 years.
- Return of Mortality Charges (ROMC) adds back all mortality charges deducted over the term, credited at maturity.
- Maturity benefit is the fund value, payable as a lump sum or in instalments over up to 5 years.
Worked example
A 35-year-old paying ₹50,000/year for a 20-year term with a ₹5 lakh sum assured sees a projected maturity value of about ₹13.89 lakh at an assumed 4% return, or ₹21.90 lakh at an assumed 8% return.
Worth knowing
- 5-year lock-in applies; no partial withdrawal or surrender is allowed during that period.
- Illustrated 4%/8% returns are not guaranteed and depend on actual market performance of the chosen funds.
- The Return of Mortality Charges benefit is forfeited if the Premium Waiver option is triggered by the proposer's death.
Savings
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Sanchay Legacy
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
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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
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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.
Savings
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Saral Jeevan
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
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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
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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
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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.
Savings
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Uday
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
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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
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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
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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
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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.
Savings
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Sanchay Plus
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
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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.
Retirement
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Systematic Pension Plan
A participating pension (retirement corpus) plan that guarantees the higher of a bonus-boosted vesting benefit or your premiums compounding at 4% p.a., which must mostly go toward buying an annuity at retirement.
You might need this if
- You might need this if you want a structured, insurer-backed retirement corpus with a guaranteed floor return (4% p.a. compounding) plus potential bonus upside.
- Useful if you may need to dip into the corpus early for specific life needs — the plan allows partial withdrawals (up to 25% of premiums paid, up to 3 times) for things like a child's education, home purchase, or medical treatment.
- Good for very long planning horizons — entry up to age 75, vesting (retirement) age from 30 to 90.
- Fits both lump-sum retirement savers (Single Pay) and those who prefer paying in over 2-12 years (Limited Pay) or throughout the term (Regular Pay).
How it actually works
- Vesting age can be set from 30 to 80, or up to 90; policy term is 5-45 years depending on vesting age chosen.
- Minimum premium: ₹50,000 Single Pay, or ₹30,000/year Regular/Limited Pay.
- Vesting benefit = higher of (Sum Assured on Vesting + accrued Reversionary Bonus + Terminal Bonus) or (total premiums paid compounded at a guaranteed 4% p.a.).
- Death benefit = higher of (101% of total premiums paid + accrued bonuses) or 105% of total premiums paid.
- At vesting, proceeds must largely go toward an annuity purchase — you can commute up to 60% as a lump sum, with the balance converted to a pension; the rest can be bought from the same insurer or, for up to 50%, from another insurer.
- Two optional riders: Accidental Disability Income Benefit and Protect Plus.
Worked example
A 40-year-old male pays a single premium of ₹5,00,000 for a 20-year policy (vesting at 60). Illustrated total benefit at vesting: ₹10,95,562 at an assumed 4% return, rising to ₹19,44,407 at 8% — this pool would then largely need to be converted into an annuity.
Worth knowing
- The 4% p.a. compounding is a guaranteed minimum, but bonuses that could push returns higher are not guaranteed.
- At vesting or surrender, regulations generally require most of the proceeds to be used to buy an annuity — this is not a plan you can simply cash out in full for spending.
- Suicide within 12 months of start/revival limits payout to 80% of premiums paid or surrender value.
- Partial withdrawals are capped at 25% of premiums paid per instance and limited to 3 withdrawals over the policy's life, only after 3 years and only for specific approved reasons.
Retirement
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Pension Guaranteed Plan
A single-premium annuity plan that converts a lump sum into a guaranteed income for life, with an option to defer the start date and lock in today's rate.
You might need this if
- You might need this if you've just retired and want to turn a lump-sum retirement corpus (PF, gratuity, sale proceeds) into predictable income you can't outlive.
- You might need this if you want a rate locked in today rather than one that changes with markets later.
- You might need this if you're planning jointly with a spouse and want payouts to continue as long as either of you is alive.
- You might need this if you can wait a few years before income starts and want a higher payout via deferment.
How it actually works
- It's a single-premium, non-participating annuity — you pay once, and payouts (monthly/quarterly/half-yearly/annual) start immediately or after a chosen deferment of 1-10 years.
- Three payout structures: Immediate Life Annuity (no death benefit, highest payout), Immediate with Return of Purchase Price (100% of purchase price returned to nominee on death), and Deferred with Return of Purchase Price.
- Entry age generally 30-45 to 70-85 depending on option; minimum purchase price around ₹42,076 and minimum annual payout of ₹12,000.
- Annuity payout = applicable annuity rate × purchase price, fixed for life once purchased.
- A top-up facility lets you add to your payout later at prevailing rates; a loan of up to 80% of surrender value is available (only for return-of-purchase-price options) at around 9.5% p.a.
- There is no maturity benefit — the plan simply pays for life; surrender is only allowed under return-of-purchase-price variants.
Worked example
For a ₹1 crore purchase price, an immediate annuity at age 50 (single life) pays about ₹7,27,075/year (₹60,590/month). Deferring 5 years at age 50 raises it to about ₹9,61,070/year (₹80,089/month). Deferring 10 years from age 45 gives about ₹9,72,619/year (₹81,052/month).
Worth knowing
- Choosing the plain Immediate Life Annuity option means nothing is returned to your family on death — the payments simply stop.
- Once purchased, the annuity rate is locked; you can't switch to a higher rate later even if market rates rise.
- Surrender is only possible under return-of-purchase-price variants, and the value is capped at the purchase price.
- Payouts are taxable as income, and TDS may apply.
Retirement
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Smart Pension Plus
A flexible annuity plan offering four income structures — flat, with premium return, milestone returns, or an annually increasing income — with single or limited-pay premiums.
You might need this if
- You might need this if you want choice in how your retirement income is structured rather than one fixed annuity type.
- You might need this if you're worried about inflation eroding a flat pension and want an option where income rises each year.
- You might need this if you want your family to get money back — some options return 50-100% of premiums on death.
- You might need this if you're saving via NPS and need an annuity provider for your NPS corpus, including a family-income option for your spouse and dependent parents.
How it actually works
- Four annuity options: Life Annuity (no return), Life Annuity with Return of a % of Premiums (50-100%), Life Annuity with Early Return (milestone lump sums at ages 75-95), and Increasing Annuity (1-5% p.a. rise).
- Premiums can be Single Pay (min ₹50,000) or Limited Pay over 2-15 years (min ₹30,000/year); payouts can start immediately or after a deferment period.
- High Premium Benefit adds 0.15%-0.55%+ to the annuity rate for larger purchase amounts (₹5 lakh and above).
- A Liquidity Option (premium-return variant only) lets you withdraw up to 60% of premiums as lump sums after 5 years of payouts, up to 3 times.
- Policy loans (premium-return options only) of up to 80% of surrender value are available, at roughly 9.5% p.a.
- Minimum guaranteed payout thresholds apply (e.g., ₹12,000/year, ₹1,000/month).
Worked example
A 60-year-old paying a ₹10,00,000 single premium under the plain Life Annuity gets about ₹86,500/year for life. Under Increasing Annuity (3% simple rise) the first year pays about ₹41,005, rising to ₹42,235 in year two. A joint-life couple (60/55) paying ₹2,50,000/year for 5 years with 10-year deferment and premium return gets about ₹1,39,921/year from year 11, with 100% of premiums (₹12,50,000) paid to the survivor on the second death.
Worth knowing
- Once purchased, the annuity rate is fixed for life — there's no flexibility to change it later.
- The plain Life Annuity option offers no payout to your family if you die early after purchase.
- Surrender values and loan access are restricted to the premium-return variants — the pure life annuity has no surrender value.
- If purchased using NPS proceeds, the policy cannot be cancelled or surrendered, and refunds go back to the NPS Trustee Bank, not to you.
Retirement
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Systematic Income Plan
An annuity plan that lets you choose between a fully guaranteed pension or one partly linked to Nifty 50, aiming for a chance at higher income alongside your family getting the purchase price back.
You might need this if
- You might need this if you want guaranteed retirement income but are also open to some market-linked upside.
- You might need this if you want your family to get the purchase price back on your death, not just stop receiving payments.
- You might need this if you're comfortable entering the plan a bit later — minimum entry age is 40.
- You might need this if you want a **lump sum advance** against future guaranteed payouts for a specific need, rather than only periodic payments.
How it actually works
- Three options: Life Annuity (fully fixed, no death benefit), Life Annuity with Return of Purchase Price (fixed rate plus full premium back to nominee), and Variable Annuity with Return of Purchase Price (60% guaranteed + 40% linked to Nifty 50 performance, plus premium return).
- Entry age 40 to 73-75 depending on Single Pay or Limited Pay; Single Pay minimum ₹50,000, Limited Pay minimum ₹5,00,000/year over 2-10+ years.
- Payout frequencies include annual, half-yearly, quarterly, and monthly (monthly not available for the Variable Annuity option).
- An Annuity Advance Option allows a lump-sum advance of up to 30% of premiums against future guaranteed annuity, for up to 5 years.
- A Smart Legacy Option lets nominees take the death benefit as installments over 2-15 years instead of a lump sum.
- Policy loans (Options B and C only) of up to 80% of surrender value are available at around 9% p.a.
Worked example
For a ₹10 lakh single premium at age 60: Option A (Life Annuity) pays about ₹86,500/year with no death benefit; Option B pays about ₹62,200/year plus the full ₹10,00,000 returned to the nominee on death; Option C's payout varies with Nifty 50 performance, on top of the ₹10,00,000+ death benefit.
Worth knowing
- The Variable Annuity option's payout can go up or down with the Nifty 50 benchmark — it isn't guaranteed like the other options.
- Choosing Option A (plain Life Annuity) means nothing goes to your family if you die after starting the annuity.
- Surrender isn't available at all for the pure Life Annuity option, and NPS-sourced policies generally can't be surrendered except in specific regulatory cases.
- Loans and surrender rely on the higher of Guaranteed and Special Surrender Value, which can be low in early years.
Retirement
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Systematic Retirement Plan
A deferred annuity savings plan where you pay premiums over several years to build a retirement corpus that later converts into a guaranteed lifelong pension.
You might need this if
- You might need this if you're still 10-15+ years away from retirement and want to build a dedicated pension corpus systematically rather than with a single lump sum.
- You might need this if you want the deferment/vesting timeline aligned to your own retirement age (entry from 45, commencement up to age 80).
- You might need this if you want a choice between a plain lifelong pension or one that also returns premiums to your family.
- You might need this if you value predictability over market-linked growth for your retirement savings.
How it actually works
- It's a non-participating, non-linked deferred annuity savings plan — you pay premiums for a term (5, 8-10, or 15+ years) and the annuity commences later, up to age 80.
- Entry age is 45-75 years; minimum payouts start at ₹12,000/year, ₹1,000/month.
- Two annuity options at vesting: Life Annuity or Life Annuity with Return of Premiums.
- Annuity is paid in arrears monthly, quarterly, half-yearly, or annually, once it starts.
- The plan has no maturity benefit — it's built purely to convert into lifelong income.
- No policy loan facility is available on this plan.
Worked example
Mr. Sharma, age 45, pays ₹2 lakh annually for 10 years, with a 15-year deferment period, and then receives an annual annuity of about ₹2,82,767 for life.
Worth knowing
- There is no policy loan facility, unlike some other HDFC Life annuity plans.
- Guaranteed Surrender Value is only acquired after two years of premiums have been paid.
- The plain Life Annuity option leaves nothing for your family on death — choose the Return of Premiums option if that matters to you.
- Grace period is 15 days for monthly premiums and 30 days for other frequencies; missing this can lapse the policy.
Retirement
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Guaranteed Pension Plan
A traditional pension plan that builds a guaranteed retirement corpus through fixed additions each year, with life cover along the way and flexible annuity purchase at vesting.
You might need this if
- You might need this if you want a fully guaranteed, non-market-linked way to build a pension corpus over 8-40 years.
- You might need this if you want life cover during the accumulation phase, not just at retirement.
- You might need this if you'd like the flexibility to buy your annuity from a different insurer for up to half your proceeds, to shop for the best rate later.
- You might need this if you may need partial access to your savings before retirement for specific needs.
How it actually works
- Entry age 18-70; you choose a vesting (retirement) age of 40-80, with policy term 8-40 years and single or limited premium payment (5-12 years).
- Guaranteed Additions of 3% of the sum assured on vesting accrue each year the policy is in force, plus a one-time Vesting Addition ranging from 24% (8-year term) to 120% (40-year term) of sum assured.
- Death benefit is total premiums paid accumulated at 6% p.a., with a minimum guarantee of 105% of premiums paid.
- At vesting, you can commute up to 60% as a lump sum and use the balance to buy an annuity — from HDFC Life or, for up to 50% of proceeds, from another insurer.
- Partial withdrawals are allowed after 3 years, up to 25% of premiums paid, limited to 3 times.
- Revival window is 5 years from the first unpaid premium; free-look period is 30 days.
Worked example
A 40-year-old male with a ₹5,00,000 sum assured, 10-year premium term and ₹50,000 annual premium builds a total vesting benefit of roughly ₹11,63,428.
Worth knowing
- This is a traditional guaranteed-return plan, so growth potential is capped compared to market-linked options.
- Missing premiums beyond the grace and revival periods can permanently reduce or forfeit benefits.
- Only up to 50% of vesting proceeds can go to buy an annuity from a different insurer; the rest must stay with HDFC Life.
- Free-look cancellation refunds premiums minus risk premium and expenses already incurred, not the full amount paid.
Retirement
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Smart Pension Plan
A unit-linked (market-invested) pension plan where your premiums grow in funds you choose, with life cover along the way and flexibility to adjust your retirement date and investments.
You might need this if
- You might need this if you want your retirement savings invested in markets for growth potential rather than a fixed guaranteed rate.
- You might need this if you want the flexibility to change your vesting date, premium term, or fund mix as your plans evolve.
- You might need this if you're comfortable with investment risk in exchange for potentially higher retirement corpus growth.
- You might need this if you want automatic de-risking as retirement nears, without managing it manually.
How it actually works
- It's a unit-linked, non-participating pension plan — the investment risk is borne by you, the policyholder, not the insurer.
- Entry age 18-70; vesting age 40-80 (min 55 for QROPS/QOPS); premium payment term 5-30 years; minimum premium around ₹3,000-₹10,000/month or ₹1,00,000 single premium.
- Life cover on death is the higher of fund value or 105% of total premiums paid.
- Choose from 9 fund options spanning debt-heavy to high-equity, plus an Automatic Asset Rebalancing Strategy that shifts to debt as vesting nears, and a Systematic Transfer Strategy for rupee-cost averaging.
- At vesting, you can commute up to 60% as a lump sum (30% after age 55 for QROPS/QOPS) and use the rest to buy an annuity.
- No riders and no policy loans are available; partial withdrawals (up to 25% of fund value, 3 times) are allowed after 5 years.
Worked example
A 35-year-old paying ₹10,000/month for 10 years into the Large Cap Fund, vesting at 55, would have a fund value of about ₹18,27,509 at 4% assumed growth or ₹32,89,179 at 8% assumed growth (not guaranteed). Converting to an annuity with 5-year deferment would then pay roughly ₹1,58,080/year (at 4%) or ₹2,87,803/year (at 8%).
Worth knowing
- Fund returns are not guaranteed — the 4%/8% illustrations are assumptions, not promises, and actual maturity value depends on markets.
- There's a 5-year lock-in; full surrender isn't allowed except on death, though the fund value becomes payable after lock-in ends.
- Fund management charges (0.85%-1.35% p.a.) and a policy administration charge (up to ₹500/month) reduce net returns over time.
- No riders and no loan facility are offered under this plan, unlike some traditional pension products.
Retirement
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Sanchay Aajeevan Guaranteed Advantage Plan
A guaranteed-return savings plan that builds a maturity corpus and lets you convert part of it into a guaranteed lifelong income, with a joint-life option that protects a spouse too.
You might need this if
- You might need this if you want guaranteed growth (not market-linked) for a medium-to-long-term goal like retirement.
- You might need this if you want the choice at maturity between taking your money out or converting some of it into lifelong income at a locked-in rate.
- You might need this if you're planning as a couple — the Future Secure (joint life) option waives premiums and pays a death benefit on the first death, continuing benefits for the survivor.
- You might need this if you may need partial access to funds for specific life events like education, home purchase, or medical needs before maturity.
How it actually works
- Choose Future Ready (single life) or Future Secure (joint life, with premium waiver); and Variant 1 (flexible, no guaranteed income rate) or Variant 2 (with guaranteed income) that lets you convert 40%, 60%, or 80% of the maturity benefit into guaranteed lifelong income.
- Entry age 18-70, maturity age 40-80, policy term 5-30 years, minimum annual premium ₹30,000.
- Guaranteed Additions of 8% of the sum assured on maturity accrue annually from year 2 (single pay) or year 5 (regular pay).
- Death benefit is the highest of premiums accumulated at a guaranteed 5% or 7% p.a. (chosen upfront), 105% of premiums paid, or surrender value.
- A Maturity Booster of 2%-5% is added if you convert 70-100% of the maturity benefit into an annuity.
- Partial withdrawals (up to 25% of premiums, 3 times) after 3 years; policy loans up to 80% of surrender value at ~9% p.a.; no riders available.
Worked example
Mr. Kumar, age 45, pays ₹10 lakh annually for 5 years in a 20-year policy, choosing 80% guaranteed income conversion: Sum Assured comes to about ₹59,55,891, Guaranteed Additions about ₹76,23,540, for a total maturity value of roughly ₹1,57,52,140. Converting ₹1,26,01,712 of that to income gives a guaranteed annual income of about ₹9,93,015 (a 7.88% income rate).
Worth knowing
- The guaranteed income rate is chosen and locked at maturity/conversion, so it can't later be improved even if annuity rates rise.
- This is a traditional guaranteed plan, so growth is capped relative to market-linked ULIP alternatives.
- No riders are offered, and the suicide clause within 12 months limits payout to 80% of premiums paid or surrender value.
- Accessing NPS-linked or QROPS proceeds comes with restrictions — commutation capped at 30% and access restricted until age 55 or maturity.
Retirement
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Aajeevan Growth Nivesh and Income
A single-premium annuity plan offering a choice between a fully guaranteed lifelong income, one with your purchase price returned to family, or one partly linked to Nifty 50 for potential upside.
You might need this if
- You might need this if you have a lump sum (₹50,000+) to convert into guaranteed lifelong income starting at age 40 or later.
- You might need this if you want your family to get the full purchase price back on your death rather than payments simply stopping.
- You might need this if you're open to a portion of your income being linked to market performance (Nifty 50) for potential higher payouts.
- You might need this if you'd like a lump-sum advance against future guaranteed payouts for a specific need.
How it actually works
- Three options: Option A - Life Annuity (no death benefit, invests 100% of purchase price for the highest fixed payout), Option B - Life Annuity with Return of Purchase Price, and Option C - Variable Annuity with Return of Purchase Price (60% guaranteed, 40% linked to Nifty 50 with a fixed 38% performance factor).
- Entry age 40-75; minimum single premium ₹50,000 for Options A/B, ₹5,00,000 for Option C; joint life allowed with spouse as secondary annuitant.
- An Annuity Advance Option (Options B/C, after 1 year) provides a lump sum up to 5 years' guaranteed annuity, capped at 30% of total premiums per withdrawal.
- A Smart Legacy Option lets nominees choose 2-15 year installments instead of a lump-sum death benefit.
- Policy loans (Options B/C) up to 80% of surrender value at around 9% p.a.; premium bands of ₹2.5 lakh+ earn enhanced annuity rates of 0.15%-0.55%.
- GST is currently 0% on individual life insurance policies (effective since September 2025), which effectively boosts the amount invested.
Worked example
A ₹10 lakh single premium under Option A pays about ₹86,500/year for life with no death benefit; under Option B it pays about ₹62,200/year plus the full ₹10 lakh returned on death. A ₹1 crore investment under Option C yields roughly ₹3.82 lakh guaranteed each year plus a variable component linked to Nifty 50.
Worth knowing
- Option C's variable component can rise or fall with the Nifty 50 — it isn't guaranteed.
- Option A (plain Life Annuity) has zero surrender value and no payout to family on death.
- Once purchased, the guaranteed portion's rate is fixed for life and can't be renegotiated.
- Monthly payout frequency is not available under Option C.
Term
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iProtect Smart Plus
A term life plan with three coverage variants (Life, Life Plus with accidental cover, and Life Rebalancing), plus flexibility to skip a premium and increase cover at major life events.
You might need this if
- You might need this if you want life cover that can automatically increase at milestones like marriage, having a child, or taking a home loan.
- You might need this if you're worried about a temporary cash crunch — this plan allows skipping one year's premium after 5 years without losing cover.
- You might need this if you want accidental death coverage bundled in alongside standard term cover.
- You might need this if you want flexibility in how your family receives the payout — lump sum, income, or a mix.
- You might need this if you're a salaried employee or a woman — both get premium discounts on this plan.
How it actually works
- Three variants: Life (basic death benefit), Life Plus (adds an optional Accidental Death Benefit rider, 1 lakh to 3x sum assured), and Life Rebalancing (coverage that steps down after year 10, for people expecting liabilities to reduce over time).
- Premium options: Single Pay, Regular Pay, or Limited Pay (5, 7, 10, 15 years, or till age 60); salaried customers get 12.5%-15% discounts, women get 15% off.
- Death benefit payout choices: lump sum, 10-year income (10%/year), a lump-sum-plus-income hybrid, or an increasing income that rises 10% annually.
- Entry age 18-65 for Life/Life Plus (18-45 for Life Rebalancing); policy term 5-20 years (15-20 for Life Rebalancing).
- For sum assured of ₹1 crore or more, an instant ₹3 lakh payout is released within one working day of claim intimation, ahead of full claim settlement.
- A Smart Exit Benefit after 25 years (age 60+) refunds total premiums paid, letting you exit with your money back if cover is no longer needed.
Worked example
A 32-year-old woman buying ₹1 crore life cover with a matching Accidental Death Benefit rider for a 30-year term pays about ₹16,799/year. If she dies from an accident, her family would receive roughly ₹2 crore total (base cover plus the rider).
Worth knowing
- The Accidental Death Benefit rider excludes death from suicide, hazardous sports, war, drug/alcohol involvement, and high-risk aviation.
- The premium break option is only available after 5 policy years and for one year, with conditions.
- Suicide within the first 12 months limits the payout to surrender/cancellation value rather than the full sum assured.
- The Smart Exit Benefit only becomes available after a long 25-year hold, and only refunds premiums paid, without any growth.
Term
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iProtect Super
A term life plan aimed particularly at self-employed and business owners, with high sum assured bands, a terminal illness benefit, and options to pause premiums or exit with your money back.
You might need this if
- You might need this if you're a business owner looking for straightforward, high-value life cover to protect dependents or business continuity.
- You might need this if you want protection that also pays out on a terminal illness diagnosis, not just death.
- You might need this if you might face a temporary cash-flow gap and want the option to defer a premium without losing cover.
- You might need this if you'd like the flexibility to exit later with your premiums refunded, once cover is no longer needed.
How it actually works
- Death benefit is the highest of 105% of total premiums paid, 7x annualized premium, or the sum assured.
- A Terminal Illness Benefit accelerates payment of the death benefit if diagnosed with a terminal condition.
- Entry age 18-55 (18-45 for POS/online-sold policies); policy term from 5 years up to age 85 (up to 65 for POS); sum assured band roughly ₹50 lakh to ₹2 crore.
- Premium options: Limited Pay (5/7/10/15 years) or Regular Pay matching the full term; monthly payment carries a 5% loading.
- A Premium Break lets you skip up to 12 months of premiums after 5 policy years, under conditions; a 7% loyalty discount applies for existing customers, and women get 15% off.
- The Smart Exit Benefit after 25 years refunds total premiums paid; death benefit can also be taken as installments over 5 years instead of a lump sum.
Worked example
A 35-year-old male buying ₹1 crore cover for a 40-year term with a 10-year premium payment period pays about ₹52,989/year, totalling roughly ₹5,29,890 over 10 years, for a death benefit of ₹1 crore if death occurs during the term.
Worth knowing
- Sum assured is capped in the ₹50 lakh-₹2 crore range — those wanting larger cover would need to look elsewhere or combine policies.
- POS-sold (simplified) policies carry a 90-day waiting period during which only accidental death is covered.
- Suicide within 12 months of start/revival limits payout to the higher of 80% of premiums paid or cancellation value, not the full sum assured.
- The Smart Exit Benefit requires a 25-year hold and refunds only premiums paid, with no investment growth.
Term
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iProtect Care
A straightforward term life plan with two variants — one renewable at the end of the term, and one where cover automatically steps up over time to keep pace with growing responsibilities.
You might need this if
- You might need this if you want simple, no-frills term cover without add-ons to think about.
- You might need this if your responsibilities are likely to grow (young family, rising debts) and you want cover that increases automatically rather than manually topping up later.
- You might need this if you'd like the option to renew coverage after the initial term ends, without new medical underwriting complications.
- You might need this if you want protection against a terminal illness diagnosis, not just death.
How it actually works
- Life Variant: standard death benefit (highest of 7x annualized premium, 105% of premiums paid, or sum assured) with a renewability option to extend coverage.
- Enhanced Protection Variant: same death benefit formula, but sum assured automatically increases 20% every 5 years, capped at 200% of the original amount; no renewability.
- Entry age 18 up to 65/85 (Life) or 45/65 (Enhanced Protection) minus age at entry; minimum sum assured ₹50 lakh.
- Death benefit can be taken as a lump sum or a rising 10-year income (starting at 10% annually, increasing 3.5% each year, totalling ~115.75% of the death benefit).
- An accelerated ₹3 lakh payout is released within one working day of claim intimation for sum assured ≥₹1 crore, after 3 policy years.
- Terminal Illness Benefit pays the full death benefit early on diagnosis (confirmed by two independent doctors); no loan facility is available.
Worked example
A 32-year-old buying ₹2 crore cover for 30 years pays about ₹21,483/year. Under Enhanced Protection, the sum assured rises to about ₹2.4 crore (years 6-10) with premium rising to roughly ₹28,786, then ₹2.8 crore (years 11-15) with premium around ₹37,771.
Worth knowing
- There is no maturity, survival, or surrender benefit — this is pure protection, and the Enhanced Protection variant has no loan facility either.
- Enhanced Protection's automatic increases stop at 200% of original cover or age 50, whichever comes first.
- The Terminal Illness Benefit doesn't apply to any extended/renewed term.
- Suicide within 12 months limits payout to the higher of 80% of premiums paid or cancellation value.
Term
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iProtect Smart Return of Premium
A term life plan that returns 100% of your premiums back to you if you outlive the policy term, combining protection with a savings-style refund at maturity.
You might need this if
- You might need this if you want life cover but dislike the idea of "losing" premiums if nothing happens during the term.
- You might need this if you want a plan that gives you something back at the end, functioning almost like a forced savings vehicle alongside protection.
- You might need this if you're comfortable paying a higher premium than pure term insurance in exchange for the maturity refund.
- You might need this if you're a woman looking to take advantage of the discounted premium rate on this plan.
How it actually works
- Death benefit is the highest of 7x annualized premium, 105% of total premiums paid, or the sum assured.
- Maturity benefit: 100% of total premiums paid, returned as a lump sum if you survive the policy term.
- Entry age up to 60 years; policy terms of 5, 7, 10, 12, or 15 years (regular pay), or matching the limited-pay term; minimum sum assured ₹10 lakh.
- Premium payment modes are annual, half-yearly, or monthly, with modal loadings of up to 2.5%; a 0.7% discount applies for online purchase.
- Death benefit can be taken as a lump sum or as income spread over 5 years.
- Policy loans up to 80% of surrender value are available; surrender value itself only becomes available after 1 full year of premiums paid.
Worked example
A 35-year-old male buying ₹1 crore cover over a 40-year term with a 10-year premium payment period pays about ₹74,638/year (₹7,46,380 total). If he dies during the term, the family gets ₹1 crore; if he survives to maturity, he gets the full ₹7,46,380 of premiums paid back.
Worth knowing
- Return-of-premium plans typically have meaningfully higher premiums than pure term plans for the same cover — the refund isn't "free."
- The refund at maturity is just your premiums back, with no investment growth factored in.
- Suicide within 12 months of commencement/revival limits payout to the higher of 80% of premiums paid or surrender value.
- Revival after lapse is only possible within 5 years, and requires fresh health evidence plus interest on arrears.
Term
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Saral Jeevan Bima
A standardized, no-frills term life plan (a regulator-mandated common format across insurers) offering simple death-benefit protection at accessible sum assured levels.
You might need this if
- You might need this if you want a simple, easy-to-compare term plan — Saral Jeevan Bima has the same standardized structure across all insurers in India, making comparison easy.
- You might need this if you're looking for basic protection at a modest sum assured (₹5 lakh to ₹1.5 crore) without extra riders or complexity.
- You might need this if you're newer to insurance and want a plan with minimal jargon and standardized terms.
- You might need this if you're a woman and want to benefit from the 15% premium discount available on this plan.
How it actually works
- Premium options: single premium, regular pay, or limited pay (5 or 10 years); payment modes include yearly, half-yearly, and monthly via ECS/NACH.
- Entry age 18-65 (POSP/offline) or 18-60 (online); maximum maturity age is 65 (POSP) or 70 (online); policy term 5-40 years.
- Sum assured ranges from ₹5 lakh to ₹1.5 crore, in multiples of ₹50,000.
- There's a 45-day waiting period at the start — during this window, only accidental death is covered at full value; non-accidental death within this period only refunds 100% of premiums paid.
- Salaried customers get discounts of 12.5% (Regular Pay) or 15% (Limited Pay) for sum assured ≥₹50 lakh; women get a further 15% discount.
- There is no maturity, surrender, or paid-up benefit — it's pure term protection, and policy loans are not offered.
Worked example
Shekhar, a 32-year-old marketing consultant, buys ₹25 lakh cover for a 30-year term, paying about ₹9,477/year (₹2,84,310 total over the term). If he dies accidentally during the term, his family receives the full ₹25 lakh.
Worth knowing
- The 45-day waiting period significantly limits non-accidental death coverage right after the policy starts.
- This plan offers no maturity, surrender, or loan benefits — nothing is returned if you outlive the term.
- Suicide within the first 12 months limits payout to 80% of premiums paid.
- Maximum sum assured is capped at ₹1.5 crore, which may be insufficient cover for higher-income earners who may need to combine it with another plan.
ULIP
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ICICI Pru LifeTime Classic
A straightforward unit-linked plan — your premium buys fund units, with a life cover attached and top-ups for staying invested.
You might need this if
- You want one product that combines a market-linked investment with a life cover, instead of running pure investments and term insurance separately.
- You have money you won't need for at least 5 years (the lock-in) and you're fine with market ups and downs in exchange for potentially higher growth.
- You want to pick your own mix of funds — or hand that decision to a strategy that rebalances automatically as you get older.
- You like the idea of small periodic boosts to your investment just for staying invested long-term.
How it actually works
- Loyalty Additions — extra units at the end of years 6–7 and every year from year 8 (0.10%–0.30% of fund value).
- Wealth Boosters — a bigger top-up (1%–2% of fund value) every 5 years, from the end of year 10.
- 4 portfolio strategies — Target Asset Allocation, Trigger (buy-low/sell-high), Life Cycle (auto-rebalances by age), or Fixed (you choose).
- 15 funds to choose from across equity, balanced and debt.
- Partial withdrawals once the lock-in ends, for emergencies or milestones.
Worth knowing
- This is market-linked — investment risk sits entirely with you; returns are not guaranteed.
- No liquidity for 5 years — no surrender or withdrawal, even partial, during the lock-in.
- After 5 years, surrender value = full Fund Value.
ULIP
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ICICI Pru Signature
The same ULIP structure as LifeTime Classic, built for larger premiums, with tiered perks that scale with how much you put in.
You might need this if
- You want the same market-linked-plus-cover structure as a standard ULIP, but you're investing a larger amount (₹15 lakh+ a year) and want the extra tiered perks that come with that.
- You want the option to keep the policy running for your whole life (to age 99) and draw a scheduled income from it later — useful as a retirement income structure.
- You want flexibility on how long you pay premiums (single pay, or 5–15 years) and how the sum assured scales with what you pay in.
How it actually works
- Charges refunded — allocation charges are added back to your fund at year 15, then every 5 years after.
- Wealth Boosters — extra units every 5 years from year 10 (0.5%–2% of fund value).
- Systematic Withdrawal Plan — schedule regular payouts from the fund, useful for a post-retirement income stream.
- Same 4 portfolio strategies as LifeTime Classic, across ~20 funds including index funds.
The tiers
| Tier | Annualised premium | What you get |
|---|---|---|
| Advantage | ₹1L–14.99L | Charges refunded + Wealth Boosters |
| Premier | ₹15L–19.99L | + Value Benefit, year 2 |
| Exclusive | ₹20L+ | + Value Benefit, years 2 & 6 |
Worth knowing
- Death benefit pays the highest of: Sum Assured, 105% of premiums paid, or the Fund Value.
- Lock-in: 5 years, same as other ULIPs — no partial withdrawal before then.
ULIP
+
Smart Insurance Plan Plus (SIP+)
A market-linked ULIP with zero premium allocation or administration charges, offering a wide choice of funds and two variants — one focused on wealth building, one on protecting family income.
You might need this if
- You might need this if you want to combine life cover with market-linked investment growth in a single product.
- You might need this if you're put off by ULIP charges elsewhere — this plan has zero premium allocation and administration charges.
- You might need this if you want flexibility to choose from 40+ funds and switch strategies (fixed, target allocation, trigger-based, lifecycle) as your needs change.
- You might need this if you want the Assure variant's income protection — waived future premiums plus an ongoing family income if something happens to you.
How it actually works
- Two variants: Wealth (death benefit = highest of sum assured, fund value, or 105% of premiums paid) and Assure (adds a "Smart Benefit" of waived future premiums plus 0-10% of sum assured as annual family income).
- Entry age 0-50; minimum premium ₹12,000/year (up to age 35) or ₹1,20,000/year (36-50); premium payment term 5-15 years.
- Policy term: 15-75 years for Wealth (depends on age/premium), 15-25 years for Assure.
- Zero premium allocation charge and zero policy administration charge; fund management charge ranges 0.75%-1.35% p.a. depending on fund.
- Unlimited free fund switches under the Fixed Portfolio Strategy; top-ups, partial withdrawals, and systematic withdrawal plans (SWP) are supported.
- A 5-year lock-in applies from inception, with a discontinuance charge (up to 20% in year 1, tapering to 0% by year 5) if you stop paying early.
Worked example
A 30-year-old paying ₹1,00,000/year for 10 years (₹10 lakh total) under the Wealth variant, maturing at age 45, could see a fund value of roughly ₹28.2 lakh at 4% assumed growth or about ₹1.32 crore at 8% assumed growth — these rates are illustrative, not guaranteed.
Worth knowing
- As a market-linked product, the investment risk is entirely borne by you — fund value can fall as well as rise, and past performance doesn't guarantee future returns.
- The 5-year lock-in means no withdrawals are permitted during the initial period, even in an emergency (other than via loan-type features if offered).
- The 4%/8% illustrated maturity figures are assumed scenarios only, not promised or guaranteed outcomes.
- Discontinuing premiums early triggers a discontinuance charge, which can meaningfully reduce the amount you get back in the early years.
ULIP
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Signature Assure
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
A 35-year-old paying ₹1,00,000/year for 10 years (₹10 lakh total) with a 25-year term and 5% family income benefit: at an assumed 8% return, maturity benefit is about ₹34.7 lakh, and if the policyholder dies, family gets ₹50,000/year for 20 years. At an assumed 4% return, maturity value drops to about ₹13.9 lakh. These illustrative rates are not guaranteed.
Worth knowing
- 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.
ULIP
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Signature Secure
A single-premium, 5-year ULIP invested entirely in a low-risk debt fund, with a guaranteed minimum maturity value and life cover — built for people who want ULIP tax treatment without equity-market risk.
You might need this if
- You might need this if you have a lump sum to invest for exactly 5 years and want a guaranteed floor on what you get back, not market-linked uncertainty.
- Useful if you want ULIP-style structure but with debt-only exposure — no equity funds are offered here.
- Fits if you're 13 to 70 years old and want a simple, one-time payment product without needing to actively manage fund choices.
- Good if you want your family to get a guaranteed minimum death benefit (105% of premiums) alongside life cover, without ongoing premium commitments.
How it actually works
- Single premium only, minimum ₹1,00,000; policy term is fixed at 5 years; entry age 13-70.
- Sum assured multiple is 1.25x premium (ages 13-49) or 1.1x (ages 50-70).
- All money goes into one fund — the Secure Income Fund (80-100% debt, 0-20% money market) — there's no choice of other funds and no switching.
- At maturity you get the higher of fund value or a Guaranteed Maturity Benefit — 140% of single premium for the 1.25x sum assured option, 100% for the 1.1x option.
- On death, nominee gets the highest of Sum Assured, fund value, or 105% of premiums paid.
- No premium allocation or policy administration charges; fund management charge is just 0.75% p.a.
Worked example
A 45-year-old investing ₹10,00,000 with the 1.25x sum-assured option: guaranteed maturity benefit is ₹14,00,000. At an assumed 8% return, maturity value is about ₹14.17 lakh; at 4%, about ₹11.70 lakh. Life cover during the term is ₹12.5 lakh.
Worth knowing
- No partial withdrawals, no top-ups, no policy loans, and no riders — this is a very restricted, single-purpose plan.
- 5-year lock-in with no surrender option after maturity — the policy simply matures.
- Only one fund is available; you cannot switch or diversify.
- If you discontinue premiums (not applicable here since it's single pay) or surrender early, money sits in a Discontinued Policy Fund earning a minimum 4% p.a. until lock-in ends.
ULIP
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Platinum
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
A 35-year-old paying ₹15,000/month for 10 years under Growth Plus with a 40-year term: at an assumed 8% return, maturity value is about ₹1.63 crore; at 4%, about ₹40.9 lakh. Reduction in Yield after charges is 1.52-1.72% at 8% gross return. Returns are illustrative and not guaranteed.
Worth knowing
- 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.
ULIP
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Pru1 Wealth
A single-premium ULIP with a 10-year term, giving one-time investors life cover, a wide fund choice, and a maturity "Wealth Booster" of extra units.
You might need this if
- You might need this if you have a lump sum to invest once and don't want the commitment of recurring premiums.
- Useful if you want life cover attached to a single investment rather than buying insurance and mutual funds separately.
- Fits if you like having 20 fund options across equity, balanced, debt, and index categories to tailor your risk exposure.
- Good if a 2% "Wealth Booster" bonus at maturity and no premium allocation or admin charges appeal to you as a low-cost, one-time investment.
How it actually works
- Single premium only, minimum ₹1,00,000, no maximum; entry age 15-60; policy term is 10 years (maturity age 25-70).
- Sum assured multiple ranges from 1.10x to 10x the single premium depending on entry age.
- On death, nominee gets the highest of Sum Assured, fund value, or 105% of premiums paid.
- At maturity, a Wealth Booster equal to 2% of the single premium is added as extra units.
- No premium allocation or policy administration charges; fund management charge 1.35% p.a. (0.75% for Money Market Fund).
- Unlimited free switches, partial withdrawals after the 5-year lock-in (up to 20% of fund value/year), top-ups (min ₹2,000 with own 5-year lock-in), and a settlement option to spread maturity payout over up to 5 years.
Worked example
A 30-year-old male investing ₹1,00,000 once, fully in the Maximiser V fund, over the 10-year term: at an assumed 8% return, fund value is about ₹1,76,587; at 4%, about ₹1,18,485. Returns are illustrative, not guaranteed.
Worth knowing
- 5-year lock-in — no liquidity at all during this period, even though the policy term is only 10 years.
- Investment risk is borne entirely by the policyholder; no guaranteed returns on chosen funds.
- Discontinuance during lock-in moves your money to a Discontinued Policy Fund (0.50% FMC, 4% minimum guaranteed interest).
- Suicide clause: only fund value (excluding top-up sum assured) payable if death occurs within 12 months of inception or revival.
ULIP
+
Wealth Elite Pro
A high-ticket ULIP (minimum ₹1 lakh/year) with optional whole-life cover to age 99, a guaranteed 7% compounding "Wealth Booster" on allocation charges, and four portfolio strategies.
You might need this if
- You might need this if you're investing a substantial annual premium (₹1 lakh+) and want a plan that rewards long holding periods with charge give-backs.
- Useful if you want the option of life cover extending to age 99 rather than a fixed term ending in your 60s.
- Fits if you like the idea of allocation charges being refunded with 7% p.a. compounding at year 15, effectively lowering your net cost over time.
- Good if you want a large fund menu (25+ funds) with multiple automated rebalancing strategies including a detailed age-based lifecycle option.
How it actually works
- Limited pay: entry age 0-60, min premium ₹1,00,000/year, premium term 5-12 years, policy term up to 75 minus entry age or whole life; Single pay: entry age 0-65, min 10-year term.
- Sum assured is 7x-10x annualized premium (ages 0-49) or 5x-10x (age 50+).
- Wealth Booster: premium allocation charges deducted during the term are credited back as extra units at year 15, compounded at a guaranteed 7% p.a.
- Death benefit is the highest of Sum Assured, 105% of premiums paid, or fund value.
- Premium allocation charges start at 5% (years 1-7), drop to 3.5% (years 8-10), then 0% from year 11; fund management charge 0.75%-1.35% p.a.
- Top-ups, sum assured increases/decreases, term extension, and 4 free annual portfolio-strategy switches are all supported; partial withdrawals begin after 5-year lock-in (min ₹2,000).
Worked example
A 40-year-old investing ₹5,00,000/year for 7 years: at an assumed 8% return, maturity value is about ₹2.68 crore; at 4%, about ₹79.6 lakh. These figures are illustrative, not guaranteed.
Worth knowing
- 5-year lock-in, no liquidity before that; minimum entry premium is relatively high at ₹1 lakh/year.
- No policy loans available.
- Partial withdrawals can only continue until fund value drops to 2x annualized premium, and they draw from top-up funds first.
- No rider cover is available during the settlement (maturity payout) period.
ULIP
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Protect N Gain
A protection-oriented ULIP with a Life option (emphasizes cover) or Growth option (emphasizes returns), designed for very long terms (30-40 years) and refunds a chunk of your charges back from year 11 onward.
You might need this if
- You might need this if you're starting young and want a decades-long combined insurance + investment plan — terms run 30-40 years.
- Useful if you want to choose between prioritizing family protection (Life option) or prioritizing wealth growth (Growth option) under one product.
- Fits if you like the idea of getting previously-deducted charges refunded as extra units starting in year 11, which lowers your effective cost the longer you stay invested.
- Good if you want a maturity booster — extra units worth 20% of your average fund value over the last 8 quarters — added automatically at maturity.
How it actually works
- Entry age 18-55 (Life option) or 18-50 (Growth option); premium payment term 5-12 years; minimum annual premium ₹40,000-₹1,00,000; minimum sum assured ₹4-10 lakh.
- Death benefit is the highest of Sum Assured (with top-ups), fund value, or 105% of premiums paid.
- Return of Charges: from year 11, premium allocation charges are refunded at 2x (Life option) or 1x (Growth option), and mortality charges at 1.5x-3.5x (Life) or 1x-2.5x (Growth) depending on the year.
- Maturity Booster: extra units equal to 20% of the average fund value over the last 8 policy quarters.
- Premium allocation charge starts at 6% (years 1-3), drops to 3% (years 4-7), then 0% from year 8; fund management charge 0.75%-1.35% p.a.
- Riders available: Accidental Death & Disability, and Waiver of Premium. Partial withdrawals after 5-year lock-in (min ₹2,000, up to fund reaching 4x annualized premium); up to 99 top-ups allowed.
Worked example
A 30-year-old male, Life option, ₹1 crore sum assured, paying ₹80,000/year for 10 years over a 40-year term (total premiums ₹8,00,000): projected maturity fund value is about ₹89.84 lakh at 8% assumed return, or about ₹30.17 lakh at 4%. Reduction in Yield for a ₹40,000/year premium example drops from 1.26% at year 15 to -0.08% at year 40, reflecting the long-term charge refunds.
Worth knowing
- 5-year lock-in; no surrenders or withdrawals allowed before that.
- The Return of Charges and Maturity Booster benefits only materialize with very long holding periods (11+ years, and full term for the booster) — early exits don't get these perks.
- Funds don't offer a guaranteed or assured return; investment risk is entirely the policyholder's.
- Suicide clause: only fund value payable if death occurs within 12 months of commencement or revival.
ULIP
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Protect N Gain Whole Life
A whole-life version of Protect N Gain, covering you until age 99 with a high minimum sum assured (₹50 lakh), designed for people who want lifelong protection bundled with market-linked wealth building.
You might need this if
- You might need this if you want life cover that doesn't expire at retirement — coverage runs until age 99.
- Useful if you're comfortable committing to a high minimum sum assured of ₹50 lakh and want serious protection alongside investing.
- Fits if you value a declining death benefit factor structure that's understood upfront, paired with growth boosters that reward staying invested long-term.
- Good if you want multiple guaranteed "booster" mechanisms (return of charges, maturity booster, loyalty additions, cover continuance booster) layered onto your ULIP.
How it actually works
- Entry age 18-50; premium payment term 7-12 years; policy term runs to age 99; minimum sum assured ₹50,00,000.
- Death benefit is the highest of fund value, minimum death benefit, or (10x annualized premium OR death benefit factor × sum assured) plus top-ups — the death benefit factor declines from 1.0 (up to policy year 26) down to 0.1 (year 31+).
- Maturity Booster: 20% of average fund value over the last 8 quarters, added as bonus units.
- Loyalty Additions: from the year equal to (67 minus entry age), an annual 0.50% of average fund value is added as guaranteed units.
- Cover Continuance Booster: after the premium payment term ends, extra units are added monthly to help maintain fund value at least equal to the annualized premium.
- Premium allocation charge 6% (years 1-3), 3% (years 4-7), then 0%; riders available include Accidental Death & Disability, Waiver of Premium, and Health Protect.
Worked example
A 40-year-old with ₹1 crore cover paying ₹1.33 lakh/year for 10 years gets ₹1 crore guaranteed death benefit during earning years. On surviving the full term, illustrative maturity value is about ₹46.9 lakh at 4% assumed return or about ₹3.82 crore at 8% — figures are illustrative only, not guaranteed.
Worth knowing
- The death benefit factor declines sharply after policy year 26, meaning the guaranteed multiple of premium/sum assured payable on death shrinks substantially in later years — check this carefully against your protection needs.
- 5-year lock-in; no policy loans available.
- If the fund value hits zero after lock-in (having paid all premiums), the policy can foreclose with no further benefits.
- Suicide clause: only fund value payable within 12 months of inception or revival.
Savings
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ICICI Pru Gold
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.
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
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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.
Savings
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Save 'N' Grow
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
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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.
Savings
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Future Perfect
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.
Savings
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Wealth Forever
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.
Retirement
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Signature Pension
A market-linked ULIP pension plan (Advantage or Premier variant) for building a retirement corpus, with a Family Secure option to extend coverage to a spouse or other family member.
You might need this if
- You might need this if you want your retirement savings to grow via equity/debt market exposure rather than a fixed guaranteed rate.
- Useful if you want the option to extend the plan to cover a spouse, sibling, child, or parent (Family Secure), so premiums are waived and the policy continues if you die before retirement.
- Fits if you value flexibility on when you retire — you can postpone vesting (retirement date) up to age 90 in yearly increments.
- Good if you want to eventually convert part of the corpus into a guaranteed lifetime annuity while keeping the option to take up to 60% as a lump sum.
How it actually works
- Two variants: Advantage (4% premium allocation charge, lower admin charge) and Premier (nil allocation charge, higher admin charge); entry age 18-75; policy term 15-72 years; vesting age 40-90.
- Single pay (min ₹10,00,000) or limited pay (5-15 years or term minus 5); 10 pension-specific funds across equity, balanced, and debt risk categories, plus 4 portfolio strategies including a lifecycle option.
- At vesting, you can commute up to 60% as a lump sum and annuitize the rest, buy a full annuity, or take up to 50% annuity from another insurer; default is 60% lump sum + 40% into an annuity with return of purchase price.
- Death benefit (without Family Secure) is the higher of fund value or 105% of premiums paid; with Family Secure, the surviving family member's premiums are waived and the policy continues to their vesting.
- Partial withdrawals allowed after the 5-year lock-in for specific purposes (education, marriage, home purchase, critical illness, disability, business) — up to 25% of fund value per withdrawal, max 3 times.
- Fund management charge 1.35% p.a. (0.75% for Money Market Fund); a QROPS option exists for UK pension transfers.
Worked example
A 40-year-old paying ₹2,00,000/year for 15 years over a 20-year term: at an assumed 8% return, fund value at vesting is about ₹69.3 lakh; at 4%, about ₹41.6 lakh. A Pension Booster (refund of deducted charges) is added on top. Reduction in Yield for a similar 40-year-old paying ₹1,00,000/year over 10 years ranges from 2.25% at year 15 down to 1.57% at year 40.
Worth knowing
- 5-year lock-in, and no liquidity at all during that period.
- Funds don't offer a guaranteed return — this is a market-linked pension plan, unlike GPP Flexi's guaranteed annuities.
- No policy loans available.
- At vesting, you're required to use most of the corpus to buy an annuity (regulatory requirement for pension plans) rather than taking it all as cash.
Retirement
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Guaranteed Pension Plan Flexi
A guaranteed (non-market-linked) annuity plan for people 40+ who pay premiums for a limited period and then receive a fixed, lifelong pension, with seven annuity structures to choose from.
You might need this if
- You might need this if you're 40+ and want a fully guaranteed, unchanging pension amount for life rather than market-linked retirement income.
- Useful if you want to choose between getting your premiums back to your family (Return of Premium) or a higher payout without that guarantee.
- Fits if you want a pension that rises 5% every year to help keep pace with the cost of living (Increasing Annuity option).
- Good if you or your spouse might face a critical illness or disability — one option pays out early on such diagnosis rather than waiting for death.
How it actually works
- Entry age 40-80 (primary), 30+ (secondary for joint life); premium payment term 2-15 years; entry age plus deferment period cannot exceed 85 years.
- Seven annuity options: Single/Joint Life with or without Return of Premium, Single/Joint Life with Return of Premium on Critical Illness/Disability/Death, and Increasing Annuity (5% p.a.) versions for single or joint life.
- Guaranteed Additions accrue monthly during deferment at a rate equivalent to ₹5,000/month if premiums stay current, and a High Premium Benefit adds an extra 1.5%-8.5% to the annuity depending on premium size.
- The annuity amount is fixed and guaranteed for life once informed at policy purchase, unaffected by market or interest-rate changes later.
- Policy loans (up to 60% of surrender value during deferment, for health expenses only after deferment) and a Special Withdrawal option (up to 60% of premiums paid, max 3 times) are available on Return-of-Premium variants.
- Death benefit during deferment is the higher of (total premiums + accrued additions) or 105% of premiums paid; after deferment, Return-of-Premium options pay back unused premiums plus additions minus annuity already received.
Worked example
For a ₹50 lakh premium paid over 5 years with a 10-year deferment: Single Life without Return of Premium pays ₹5,64,788/year; Single Life with Return of Premium pays ₹4,95,342/year; Joint Life without Return of Premium pays ₹5,01,631/year until either annuitant dies; the Increasing Annuity (Single Life) option starts at ₹3,34,034 in year 1, rising 5% annually thereafter.
The tiers
| Annuity Option | Illustrative Yearly Payout (₹50L premium, 5-yr pay, 10-yr deferment) |
|---|---|
| Single Life, without Return of Premium | ₹5,64,788/year |
| Single Life, with Return of Premium | ₹4,95,342/year |
| Joint Life, without Return of Premium | ₹5,01,631/year (until second death) |
| Increasing Annuity, Single Life | ₹3,34,034 in year 1, +5% each year after |
Worth knowing
- "Without Return of Premium" options generally pay more per year, but nothing is paid back to your family after death — the tradeoff is higher income vs. no legacy.
- No death benefit after the deferment period ends for the "without Return of Premium" options.
- Suicide clause during deferment: only 80% of total premiums paid, or surrender value if higher.
- If you bought this using NPS or another pension scheme's proceeds, you generally cannot surrender except under specific legal/government directives.
Retirement
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Saral Pension Plan
A single-premium immediate annuity that converts a lump sum into guaranteed income for life, with the option to get your capital back to your family later.
You might need this if
- You might need this if you have a retirement lump sum (PF, gratuity, NPS corpus) and want it converted into a predictable income stream you can't outlive.
- You might need this if you want simplicity over choice — it offers just two annuity structures rather than a dozen options to compare.
- You might need this if you want your family to eventually get the original purchase price back rather than the insurer keeping it after your death.
- You might need this if you're comfortable locking in today's annuity rate for the rest of your life, in exchange for certainty.
How it actually works
- You pay a one-time Purchase Price and choose Single Life or Joint Life annuity, both with 100% Return of Purchase Price (ROP) to your nominee on death.
- Entry age is 40 to 80 years; annuity can be paid monthly, quarterly, half-yearly or yearly, subject to a minimum of ₹12,000/year (₹1,000/month).
- Larger purchase prices get better rates: six purchase-price bands from under ₹3 lakh up to ₹50 lakh+ each unlock progressively higher annuity rates.
- You can add one booster — Online (1% more), Loyalty (for existing ICICI Pru customers), or an NPS price discount — but only one at a time.
- Surrender is allowed after 6 months only if diagnosed with one of 20 listed critical illnesses, paying 95% of the purchase price minus any loan.
- A policy loan is available after 6 months (rate ~8.58% p.a. as of April 2025), capped so yearly interest doesn't exceed 50% of the annual annuity.
Worked example
For a 60-year-old male with a 55-year-old female under Joint Life with ROP, a ₹20,00,000 purchase price generates an annual annuity of about ₹1,20,310 (roughly ₹9,640/month).
The tiers
| Purchase Price Band | Annuity Rate Impact |
|---|---|
| Below ₹3 Lakh | Base rates |
| ₹3L – <₹5L | Higher rates |
| ₹5L – <₹10L | Higher rates |
| ₹10L – <₹25L | Higher rates |
| ₹25L – <₹50L | Higher rates |
| ₹50L and above | Highest rates |
Worth knowing
- The annuity rate is locked at purchase — if interest rates rise later, you can't switch to a better rate on the same policy.
- No changes to annuity option or payout frequency are allowed once the 30-day free-look period ends.
- NPS-sourced policies generally cannot be surrendered except under specific regulatory circumstances.
- Tax treatment of annuity income depends on prevailing income tax law — the brochure recommends professional tax advice.
Retirement
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Gold Pension Savings Plan
A participating pension savings plan where you build a bonus-linked retirement corpus over years, with flexibility to withdraw for emergencies before you retire.
You might need this if
- You might need this if you're still years away from retirement and want to build a corpus gradually rather than hand over a lump sum today.
- You might need this if you want some access to your money before retirement — e.g. for a child's education, medical needs, or a first home — without fully cashing out.
- You might need this if you value bonus-driven growth potential over a plan with fixed, guaranteed-only returns.
- You might need this if you may want to push back your retirement (vesting) date rather than being forced to annuitise on a fixed schedule.
How it actually works
- Entry age is 18–70 (55 for overseas pension transfers); vesting (retirement) age can be anywhere from 40 to 90 depending on the term chosen.
- Premiums start at ₹50,000/year (or as a single payment); you can pay for as little as 2 years (limited pay) or as long as 40 years (regular pay).
- At vesting, the guaranteed base is 105% of total premiums paid, topped up by non-guaranteed accumulating cash bonus and any terminal bonus.
- At retirement you can commute up to 60% as a lump sum and must annuitise the rest — either with ICICI Pru or, for up to 50%, with another insurer.
- A special withdrawal facility lets you take out up to 25% of premiums paid (after 3 years, up to 3 times) for things like education, home purchase, or critical illness.
- You can defer vesting up to age 75, with a policy loan (up to 80% of surrender value) available once the plan has built cash value.
Worked example
A 40-year-old paying ₹1,00,000/year for 10 years under a 20-year policy term could see a total vesting benefit of roughly ₹16,63,836 at a 4% assumed return, or ₹29,29,519 at an 8% assumed return (illustrative, not guaranteed).
Worth knowing
- Bonuses (regular, terminal, and contingent terminal) are not guaranteed and depend on the insurer's discretion each year.
- If you lapse after the first year, the policy goes 'paid-up' with proportionally reduced benefits; some bonus features may stop.
- Surrender in the first 3 years pays only 75% of the guaranteed surrender factor base; it rises to 90% from year 4 onward.
- If you die within 12 months of taking the policy, the death payout is capped at the higher of 80% of premiums paid or the surrender value.
Retirement
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Guaranteed Pension Plan
A single-premium annuity plan offering both immediate and deferred payout options, with 11 variants to choose how and when your guaranteed income starts.
You might need this if
- You might need this if you want maximum choice in structuring your retirement income — immediate or deferred, single or joint life, with or without capital return.
- You might need this if you'd rather start your annuity a few years from now (deferred) instead of immediately, letting your purchase price grow first.
- You might need this if you want a safety net that pays out early if you're diagnosed with a serious illness or disability, not just on death.
- You might need this if you're transferring a UK pension (QROPS) and need a plan structured to meet those specific rules.
How it actually works
- Immediate annuity entry age is 40–70 (up to 80 for a special Single Life ROP-at-80 option); deferred annuity entry is 30–100, with 1–10 years of deferment.
- There are 11 annuity options in total spanning single life, joint life, with/without Return of Purchase Price (ROP), and versions tied to critical illness or permanent disability.
- During deferment, the death benefit is the higher of (Purchase Price + accrued Guaranteed Additions) or 105% of Purchase Price.
- Seven listed critical illnesses (e.g. cancer, heart attack, stroke, organ transplant) or permanent disability can trigger early benefits before age 80 on eligible options.
- Larger purchase prices unlock extra annuity rate boosts — up to 2.50% more for immediate annuities and up to 4.00% more for 6–10 year deferred annuities on purchases of ₹25 lakh+.
- A policy loan (deferred plans only) is available up to 80% of surrender value at ~8.15% p.a. (as of Jan 2026), and must be cleared before the deferment period ends.
The tiers
| Purchase Price | Immediate Annuity Boost | Deferred 1-5 yrs | Deferred 6-10 yrs |
|---|---|---|---|
| Under ₹3L | 0.00% | 0.00% | 0.00% |
| Under ₹5L | 0.85% | 1.50% | 2.75% |
| Under ₹10L | 1.50% | 2.25% | 3.25% |
| Under ₹25L | 2.15% | 2.75% | 3.75% |
| ₹25L and above | 2.50% | 3.00% | 4.00% |
Worth knowing
- Surrender is only allowed on specific option numbers (immediate options 1–6, deferred 7–9) and is unavailable for NPS/QROPS-sourced policies.
- The annuity option and payout frequency become locked in permanently once the 30-day free-look period ends — no later changes allowed.
- Guaranteed surrender value factors are relatively low in early years: 75% in years 1–3, rising to 90% from year 4.
- Policies can be contested by the insurer within 3 years of issue on grounds of fraud or material misstatement.
Term
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Digi Term
A pure term life plan sold only online on LIC's own website, offering large covers (₹50 lakh and up) with a choice of flat or gradually increasing payout.
You might need this if
- You want a large term cover (₹50 lakh to several crore) and would rather buy it yourself online than go through an agent.
- You want the option to have your cover grow over time (up to double the original amount by year 15) so it keeps pace with rising expenses, instead of staying flat.
- You'd prefer to finish paying premiums well before the cover ends, using a 10 or 15-year limited premium option instead of paying for the full term.
- You just want a no-frills death benefit — you're not looking for maturity payouts, loans, or investment features.
How it actually works
- Minimum basic sum assured is ₹50 lakh, with no fixed upper cap (larger amounts go through extra underwriting); amounts must be chosen in set multiples depending on the band.
- Pick Option I – Level Sum Assured (cover stays the same for the whole term) or Option II – Increasing Sum Assured (cover holds for 5 years, then rises 10% a year until it doubles by year 15, then stays flat) — this choice is locked in once made.
- Entry age 18–45; policy can run up to 40 years under level cover, with maturity age capped around 75.
- Choose Regular premiums (for the full term), Limited premiums (paid over just 10 or 15 years), or a one-time Single premium.
- Death benefit is the highest of 7× your annualised premium, 105% of all premiums paid, or the chosen sum assured (for single premium: the higher of 125% of the single premium or the sum assured).
- Large sum assured buyers get meaningful premium rebates — bigger cover brings a proportionally cheaper rate per rupee insured.
Worked example
For a 30-year-old non-smoker man buying ₹50 lakh cover for 20 years, the regular annual premium is about ₹4,700 under Option I (Level Sum Assured), rising to about ₹6,600 a year under Option II (Increasing Sum Assured) for the same starting cover.
The tiers
| Basic Sum Assured Band | Rebate (entry age up to 30) | Rebate (entry age 31–45) |
|---|---|---|
| ₹50 lakh – ₹1 crore | 0% | 0% |
| ₹1 – 2 crore | 18% | 16% |
| ₹2 – 5 crore | 30% | 28% |
| ₹5 crore and above | 37% | 33% |
Worth knowing
- There's no maturity benefit at all — if you outlive the term, nothing is paid, and there's no policy loan or paid-up value option.
- Dying by suicide within 12 months of starting or reviving the policy pays out only 80% of premiums paid, not the full sum assured.
- This plan is available only through LIC's website — it isn't sold by agents.
- You get a 30-day free-look window to cancel after receiving the policy document, with a refund minus some deductions.
Term
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Digi Credit Life
An online plan built to protect an outstanding loan — the death cover shrinks year by year to roughly track how much of a loan would still be owed.
You might need this if
- You've taken a large loan (like a home loan) and want your family shielded from that specific debt if you die before it's repaid.
- You want a cheaper alternative to a level term cover, since a shrinking (decreasing) sum assured costs less than a flat one for matching loan protection.
- You're comfortable buying entirely online and don't need riders or extra features — just loan-linked protection.
How it actually works
- Minimum sum assured is ₹50 lakh, maximum ₹5 crore (higher needs case-by-case underwriting); entry age 18–45, policy term 5–30 years.
- You select a notional interest rate between 6%–12% p.a. (independent of your real loan's rate) which decides the year-by-year Risk Cover Schedule the death benefit follows.
- Premium options are a one-time Single premium or a Limited premium paid over 5, 10, or 15 years — minimums are roughly ₹11,000 (single) or ₹3,000/year (limited).
- Death benefit under limited premium is the higher of 105% of premiums paid or the amount due per the cover schedule that year; under single premium, it's simply the scheduled amount.
- No riders are offered, there's no maturity payout, and no policy loan facility.
- Larger sum assured amounts qualify for meaningful rebates, and women get preferential rates.
Worked example
For a ₹50 lakh cover at 8% notional interest over 25 years, a 30-year-old non-smoker man pays about ₹45,500 as a single premium, or roughly ₹6,250 a year over a 10-year premium term. The actual death cover shrinks steadily each year in line with the chosen interest rate, ending up a small fraction of the original ₹50 lakh by the final year.
Worth knowing
- There's no maturity benefit and no riders — this is purely a shrinking safety net tied to loan repayment, not a general-purpose term plan.
- Suicide within 12 months of starting the policy pays out only 80% of premiums paid.
- Surrender value is generally not available; only a limited 'unexpired risk premium value' applies in specific situations, such as after paying premiums for a minimum number of years.
Term
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Yuva Credit Life
The agent-sold counterpart to Digi Credit Life — a decreasing term cover designed to pay off an outstanding loan if the borrower dies during the loan tenure.
You might need this if
- You want loan-linked protection like Digi Credit Life, but would rather buy it through an LIC agent or advisor instead of online.
- You're a younger borrower (age 21–45) with a bank-sanctioned loan, and want to start with a lower minimum cover than the plan's standard ₹50 lakh floor.
- You want a cheaper way to protect a loan than a level term plan, since the cover amount is designed to shrink roughly in step with the loan balance.
How it actually works
- Standard minimum sum assured is ₹50 lakh, but it drops to ₹20 lakh for entry ages 21–45 with an approved, sanctioned loan; maximum is ₹5 crore (higher case-by-case).
- Entry age 18–45, maturity age up to 75; policy terms run 5–30 years with single or limited (5/10/15-year) premium options.
- A notional interest rate of 6%–12% p.a. is chosen at purchase to set the annual Risk Cover Schedule the sum assured follows, regardless of your actual loan's rate.
- Death benefit under limited premium is the higher of 105% of premiums paid or the scheduled cover amount for that year; under single premium it's just the scheduled amount.
- No maturity benefit, no paid-up value, and no policy loan facility are available.
- High sum assured rebates apply for larger covers, and non-smoker/women applicants get preferential rates based on a cotinine (nicotine) test.
Worked example
For a ₹50 lakh cover, 25-year term, 8% notional interest, non-smoker man: a 30-year-old pays about ₹53,550 as a single premium, or around ₹13,150 a year over a 5-year premium-paying term.
Worth knowing
- This plan is distributed offline through agents, corporate agents, brokers, and marketing firms — it's the offline sibling of Digi Credit Life.
- Suicide within 12 months of commencement or revival limits the payout to 80% of premiums paid.
- No surrender value applies in most cases beyond a limited 'unexpired risk premium value' after several years of premium payment.
Term
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Yuva Term
The agent-sold twin of Digi Term — a large pure term cover (₹50 lakh+) with a choice of level or increasing payout, bought through an advisor rather than online.
You might need this if
- You want a substantial term cover but would rather work with an LIC agent to buy and manage the policy than go through the website.
- You want the option of a cover that grows automatically over the first 15 years, to better match rising future needs like a growing family or larger loans.
- You'd rather finish paying premiums early (in 10 or 15 years) even though the cover continues for a much longer term.
- You want a straightforward death-only benefit without maturity payouts or cash value.
How it actually works
- Minimum basic sum assured ₹50 lakh, no fixed cap beyond that (subject to underwriting); entry age 18–45, maturity age up to 75.
- Choose Option I – Level Sum Assured (flat cover throughout) or Option II – Increasing Sum Assured (cover holds for five years, then rises 10% annually until it doubles by year 15, then stays level).
- Premium can be paid as Regular (through the full term), Limited (10 or 15 years), or Single premium; policy terms run 15–40 years depending on the option chosen.
- Death benefit under regular/limited premium is the highest of 7× annualised premium, 105% of premiums paid, or the chosen sum assured; under single premium it's the higher of 125% of the premium or the sum assured.
- Beneficiaries can choose to receive the death benefit as instalments over 5, 10, or 15 years instead of a lump sum.
- High sum assured rebates reduce the effective rate for larger covers, with the biggest discounts (up to roughly 40%) at the highest sum assured bands for younger buyers.
Worked example
For a 30-year-old non-smoker man with ₹50 lakh cover over 20 years, the regular annual premium is about ₹5,950 under Level Sum Assured, or about ₹8,250 under Increasing Sum Assured.
Worth knowing
- Nothing is paid at maturity if you survive the term — there's no cash value, paid-up option, or policy loan.
- Suicide within 12 months of starting or reviving the policy limits the payout to 80% of premiums paid.
- The Level vs Increasing sum assured choice is locked in at purchase and can't be changed later.
Term
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New Tech-Term
LIC's earlier online-only pure term plan, offering life cover bought directly through LIC's website without an agent.
You might need this if
- You want a pure term life cover bought directly online, without going through an insurance agent.
- You want a straightforward death benefit for your family, without any savings or maturity component.
- You're comparing LIC's online-sold term products (this was the plan before Digi Term) alongside its offline options.
How it actually works
- It is a non-participating (non-par) pure term assurance plan, meaning it pays a death benefit only and does not share in LIC's profits.
- It is sold exclusively through LIC's own website as a direct, agent-free purchase.
- Typical LIC term plan features apply, including a choice of premium payment structure and standard exclusions like a suicide clause in the early policy months.
- Exact current eligibility ages, sum assured ranges, and premium figures could not be confirmed for this summary.
Worth knowing
- The official brochure PDF could not be retrieved after repeated attempts, so this summary is based only on the plan's name, category, and LIC's general product pattern for online term plans — not on the actual brochure text.
- Readers should verify current eligibility, sum assured limits, and premium rates directly with LIC or its website before relying on this summary.
- As with other LIC pure term plans, expect no maturity benefit if you survive the policy 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.
Full page →
Term
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New Jeevan Amar
LIC's earlier offline pure term plan, the agent-sold counterpart to New Tech-Term, offering straightforward death-only life cover.
You might need this if
- You want a pure term life cover but prefer buying through an LIC agent or advisor rather than online.
- You want a plain death benefit for your dependents without any savings or investment element.
- You're comparing LIC's offline term offerings before deciding between agent-assisted and self-serve online purchase.
How it actually works
- It is a non-participating (non-par) pure term assurance plan, paying a death benefit only, with no profit-sharing bonuses.
- It is distributed offline through LIC agents, corporate agents, brokers, and marketing firms, as the offline sibling of New Tech-Term.
- Standard LIC term-plan conventions are expected to apply, such as a choice between level and increasing cover, and multiple premium-paying structures.
- Exact current eligibility ages, sum assured ranges, and premium figures could not be confirmed for this summary.
Worth knowing
- The official brochure PDF could not be retrieved after repeated attempts, so this summary is based only on the plan's name, category, and LIC's general product pattern for offline term plans — not on the actual brochure text.
- Readers should verify current eligibility, sum assured limits, and premium rates directly with LIC or an authorised agent before relying on this summary.
- As with other LIC pure term plans, expect no maturity benefit if you survive the policy 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.
Full page →
Term
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Saral Jeevan Bima
A simple, standardised term plan design mandated by IRDAI, sold identically across all Indian insurers, meant to make comparing basic term covers easy.
You might need this if
- You want a term plan that's easy to compare across insurers, since Saral Jeevan Bima has the same standard structure and terms at every insurance company by regulatory design.
- You're looking for a smaller, entry-level term cover (₹5 lakh to ₹25 lakh) rather than a multi-crore policy.
- You want flexibility in how you pay — single premium, regular premium, or a limited 5- or 10-year premium term.
- You want a simple, no-jargon term product without riders or add-ons to evaluate.
How it actually works
- Sum assured ranges from ₹5 lakh to ₹25 lakh; entry age 18–65, maximum maturity age 70, policy term 5–40 years.
- Premium can be paid as Single, Regular, or Limited (5 or 10 years); modes include yearly, half-yearly, or monthly with small mode-based loadings (2% half-yearly, 3% monthly).
- During the first 45 days after buying, only accidental deaths get the full death benefit; non-accidental deaths in that window are refunded 100% of premiums paid instead.
- After the 45-day waiting period, the death benefit is the highest of 10× annualised premium, 105% of premiums paid, or the chosen sum assured amount.
- Buying online earns a rebate of roughly 2%–7% depending on the policy term, on top of any high sum assured rebate.
- No riders are offered under this standardised product.
Worked example
For a ₹10 lakh cover over 25 years, a 30-year-old pays roughly ₹4,670 a year (or about ₹52,260 as a single premium) buying offline; buying the same cover online costs a little less, around ₹4,336 a year.
The tiers
| Age | Channel | Annual Premium (₹10L, 25-yr term) | Single Premium |
|---|---|---|---|
| 25 | Offline | ₹3,850 | ₹41,610 |
| 25 | Online | ₹3,574 | ₹40,776 |
| 30 | Offline | ₹4,670 | ₹52,260 |
| 30 | Online | ₹4,336 | ₹51,213 |
| 40 | Offline | ₹8,340 | ₹98,630 |
Worth knowing
- There is no maturity benefit, no surrender value, and no policy loan facility — this is a pure protection plan only.
- Suicide within 12 months of starting the policy is excluded from the full death benefit; only premiums are refunded in that case.
- A grace period of 30 days (yearly/half-yearly) or 15 days (monthly) applies before a missed-premium policy lapses; lapsed policies can be revived within 5 years.
Term
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Bima Kavach
A high-cover pure term plan starting at ₹2 crore, aimed at buyers who want very large protection and the option to increase cover at major life events.
You might need this if
- You need a very large term cover — this plan starts at ₹2 crore minimum sum assured, well above most standard term plans.
- You expect your protection needs to grow with life events, since the plan lets you bump up your cover at marriage or the birth of a child without fresh medical underwriting.
- You want the choice between a flat payout and one that automatically increases over the first 15 years.
- You want the option to add basic accident cover through a rider rather than buying a separate accident policy.
How it actually works
- Minimum sum assured is ₹2 crore with no upper limit (subject to underwriting); entry age 18–65, maturity age can go up to 100.
- Choose Option I – Level Sum Assured or Option II – Increasing Sum Assured (flat for 5 years, then +10%/year until doubling by year 15).
- Premium options include Single premium, Limited premium (5, 10, or 15 years), or Regular premium running to age 100.
- The Life Stage Option (only with Level cover, Regular premium, entry age up to 40) lets you raise your sum assured by 50% at marriage or 25% at each of your first two children's births, within limits, if requested within 6 months of the event.
- An optional Accident Benefit Rider adds a lump-sum payout on accidental death, capped at ₹1 crore in aggregate across LIC policies.
- Buying online earns a 7.5% rebate on regular/limited premiums (3% on single premium), on top of any high sum assured rebate.
Worked example
For ₹2 crore cover (Level Sum Assured) over 20 years, a 30-year-old non-smoker man pays about ₹19,000 a year on regular premium, or roughly ₹2,04,800 as a single premium.
The tiers
| Age | 20-yr Term Regular Annual | Limited 10-yr Annual | Single Premium |
|---|---|---|---|
| 20 | ₹12,600 | ₹19,200 | ₹1,34,600 |
| 30 | ₹19,000 | ₹28,800 | ₹2,04,800 |
| 40 | ₹43,600 | ₹66,600 | ₹4,75,800 |
Worth knowing
- There's no maturity benefit — the entry threshold is high (₹2 crore minimum), so this isn't meant for smaller cover needs.
- The Level vs Increasing sum assured choice is locked in at purchase and cannot be switched later.
- Suicide within 12 months of starting or reviving the policy limits the payout to 80% of premiums paid.
- No policy loan is available under this plan.
Term
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Jeevan Kiran
A term plan with a twist: if you survive the full policy term, LIC refunds all the premiums you paid, instead of paying nothing like a regular term plan.
You might need this if
- You like the idea of term insurance but dislike the 'if you don't die, you get nothing' feature — this plan returns all your premiums back if you survive to maturity.
- You want a guaranteed, fixed benefit structure (no market-linked or bonus uncertainty) alongside your death cover.
- You want the option to add accident-related riders for extra protection at a low incremental cost.
- You're fine paying a noticeably higher premium than a pure term plan in exchange for getting your money back eventually.
How it actually works
- Minimum basic sum assured ₹15 lakh, no fixed cap; entry age 18–65, policy term 10–40 years, with premium payment matching the policy term (or as a single premium).
- On survival to maturity, you get back the total premiums paid (regular) or the single premium paid (single premium option), excluding taxes and rider costs — not the sum assured.
- On death, the payout is the highest of 7× annualised premium, 105% of premiums paid, or the basic sum assured (for single premium: the higher of 125% of the premium or the sum assured).
- Two optional riders are available: an Accidental Death & Disability Benefit Rider (lump sum plus monthly instalments for disability) and an Accident Benefit Rider (lump sum only, regular premium policies only).
- Buying online earns a rebate — roughly 10% on regular premium, 2% on single premium — plus separate high sum assured rebates of up to 50%.
- Death and maturity benefits can optionally be paid out in instalments over up to 5 years instead of as a lump sum.
Worked example
For a 40-year-old buying ₹50 lakh cover over 20 years, the annual premium is about ₹48,004; on survival to year 20, the plan pays back about ₹9,60,080 in total premiums, while the death benefit throughout stays at the full ₹50 lakh.
Worth knowing
- The 'maturity benefit' is only a refund of premiums paid, not the sum assured — it's meaningfully more expensive than a pure term plan for the same death cover.
- Surrender is allowed only after two full years of premiums (regular) and pays a guaranteed surrender value well below premiums paid in early years.
- Suicide within 12 months of starting or reviving the policy limits the payout to 80% of premiums paid.
- If premiums lapse after two years, the policy converts to a reduced paid-up status rather than terminating outright.
ULIP
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Index Plus
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
A 30-year-old paying ₹50,000 half-yearly for a 25-year term with ₹10 lakh Basic Sum Assured could see a projected maturity value of roughly ₹34.1 lakh at 4% assumed growth or ₹59.7 lakh at 8% assumed growth (illustrative, not guaranteed).
Worth knowing
- 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.
ULIP
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Nivesh Plus
A single-premium unit-linked plan with a choice of four risk-graded funds and two sum-assured multiples, for investors who want to put in one lump sum with market-linked growth potential.
You might need this if
- You might need this if you have a lump sum to invest once and want market-linked growth combined with life cover, without committing to ongoing premiums.
- You might need this if you want to choose your own risk level across four funds ranging from low-risk bonds to high-risk equity growth.
- You might need this if you want a higher insurance multiple (10x premium) for more protection, or a lower multiple (1.25x) to maximise the investment component.
- You might need this if you're comfortable with a 5-year lock-in and no guarantees on returns.
How it actually works
- Entry age 90 days up to 70 years (Option 1, 1.25x sum assured) or up to 35 years (Option 2, 10x sum assured); policy term 10-25 years.
- Single premium only, minimum ₹1,25,000, no upper limit; allocation charge 3.30% (offline) or 1.50% (online).
- Four fund choices: Bond Fund (low risk), Secured Fund, Balanced Fund, and Growth Fund (high risk, up to 80% equity) — all carry a 1.35% p.a. fund management charge.
- Death benefit is the higher of the Basic Sum Assured (less recent partial withdrawals) or the fund value at the time.
- Maturity benefit equals the fund value on the maturity date; Guaranteed Additions of 3-7% of the single premium are added to the fund at years 6, 10, 15, 20 and 25.
- An optional Linked Accidental Death Benefit Rider can be added at any policy anniversary, up to age 70.
Worked example
For a 30-year-old paying ₹1,25,000 single premium over a 20-year term, illustrative maturity value under Option 1 (1.25x cover) ranges from about ₹2,28,559 at 4% assumed growth to ₹4,65,044 at 8%; under Option 2 (10x cover) it ranges from about ₹1,58,999 to ₹3,74,442, since more of the premium funds insurance.
Worth knowing
- Returns are not guaranteed — LIC's own illustration states the projected rates "are not upper or lower limits."
- Full 5-year lock-in with no liquidity; surrendering early moves funds to a Discontinued Policy Fund with charges.
- Partial withdrawals are only allowed after year 5, and reduce the sum assured for the following 2 years.
ULIP
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SIIP
LIC's Systematic Investment Plus Insurance Plan (SIIP) is a regular/limited-premium unit-linked plan combining periodic market-linked investment with life cover — exact figures could not be verified.
You might need this if
- You might need this if you want to invest regularly (like a SIP) while also getting life insurance cover in the same plan.
- You might need this if you want exposure to LIC's range of unit-linked funds with the discipline of periodic premiums rather than a single lump sum.
- You might need this if you're comfortable with market-linked risk in exchange for potentially higher long-term growth than a guaranteed-return savings plan.
- You might need this if you want a ULIP with a flexible premium payment term rather than committing to a single premium.
How it actually works
- SIIP is a regular/limited-premium unit-linked insurance plan from LIC, combining periodic investment (similar to a SIP) with life cover.
- As with LIC's other ULIPs, it is expected to offer multiple fund options across the risk spectrum and be subject to fund management, mortality, and allocation charges.
- As a unit-linked product, maturity and death benefits would be linked to the fund value, with investment risk borne by the policyholder.
- Exact eligibility ages, minimum premiums, specific fund names, and charge percentages 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 details above are based on general knowledge of LIC's SIIP product line, not confirmed from this specific brochure.
- As with all ULIPs, returns are not guaranteed and investment risk is borne by the policyholder — verify exact charges and fund performance history before purchase.
- Confirm exact eligibility ages, minimum premium, lock-in and surrender 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 →
ULIP
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Protection Plus
A unit-linked plan that combines life cover with market-linked investing across six fund options, letting you choose how much equity risk to take while building a fund value.
You might need this if
- You might need this if you want life insurance and market-linked investing bundled into a single policy rather than buying them separately.
- You might need this if you're comfortable with investment risk and want to pick your own equity/debt mix across six fund options, from a pure Bond Fund to the highly-equity Flexi Smart Growth Fund.
- You might need this if you want a top-up option to invest lump sums opportunistically on top of your regular premiums.
- You might need this if you want the flexibility to switch between funds as markets move, with a few free switches each year.
How it actually works
- Premiums are split between charges and units bought in your chosen fund(s); the minimum annual premium is ₹60,000.
- Sum assured is a multiple of your annualised premium (7x-40x depending on age and term), and can be topped up with additional lump sums.
- On death, the nominee gets the higher of the sum assured, the fund value, or 105% of premiums paid.
- On maturity, you receive the fund value, plus a refund of the mortality charges deducted over the policy term.
- An optional Linked Accidental Death Benefit Rider can be added, costing ₹0.40-0.80 per ₹1,000 of extra cover.
- Charges include a 3-8% premium allocation charge, a 1.35% p.a. fund management charge, and monthly admin charges from year 6.
Worked example
For a 35-year-old paying ₹40,000/year for 15 years under a 20-year policy invested in the Bond Fund, the projected maturity value is ₹7.81 lakh at an assumed 4% return, or ₹13.20 lakh at an assumed 8% return.
The tiers
| Fund | Equity exposure | Risk level |
|---|---|---|
| Bond Fund | 0% | Low |
| Secured Fund | 15-55% | Lower-medium |
| Balanced Fund | 30-70% | Medium |
| Growth Fund | 40-80% | High |
| Flexi Growth Fund | 40-100% | Very high |
| Flexi Smart Growth Fund | 40-100% (Nifty50 focus) | Very high |
Worth knowing
- There's a mandatory 5-year lock-in; if you stop paying before then, your money moves to a Discontinued Policy Fund earning only a 4% p.a. floor until year 5.
- Investment returns are not guaranteed, and you bear all the market risk on the fund value.
- No loan facility is available against this policy.
- Partial withdrawals are only allowed after year 5, capped between roughly 15-30% annually.
Savings
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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
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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
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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.
Savings
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Jeevan Lakshya
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.
Savings
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Jeevan Labh
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.
Savings
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Bima Jyoti
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
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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.
Savings
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Bima Lakshmi
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
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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
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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).
Savings
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Bima Shree
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
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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
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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.
Savings
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Jeevan Umang
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.
Savings
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Jeevan Utsav
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
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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%).
Retirement
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Saral Pension
A standardized immediate annuity plan (a common design mandated across insurers) that turns a one-time lump sum into a guaranteed pension for life.
You might need this if
- You might need this if you want a guaranteed income for life from a retirement lump sum, without taking on market risk.
- You might need this if you value a simple, standardized annuity structure that's easy to compare across insurers since regulation requires this exact plan design.
- You might need this if you want your spouse's income to continue after you, under a joint-life option.
- You might need this if you want a limited emergency exit option (rather than being locked in permanently) in case of a serious health event.
How it actually works
- Structured as an immediate annuity: you pay a single lump sum (the purchase price), and payouts begin right away in the frequency you choose.
- Typically offered as Single Life or Joint Life annuity, both usually paired with 100% return of the purchase price to the nominee on death.
- The annuity rate is fixed for life at the time of purchase and does not change later.
- Early surrender is usually restricted to specific circumstances, such as a critical illness diagnosis of the annuitant or spouse.
- Minimum purchase price and minimum annuity amount are set by LIC and can change over time.
Worth knowing
- This plan's brochure could not be retrieved after repeated attempts (the LIC server returned errors each time), so the details above are based on general knowledge of this standardized product category rather than the current official brochure - confirm exact figures with LIC before buying.
- Once you buy an immediate annuity, the purchase price is generally locked in for life with limited liquidity.
- Since payouts are fixed at purchase, inflation over a long retirement can erode the real value of the pension.
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 →
Retirement
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New Jeevan Shanti
A deferred annuity plan where you pay once, let it grow through a 1-5 year deferment period, then receive a fixed, guaranteed pension for life.
You might need this if
- You might need this if you're a few years from retirement and want to lock in today's annuity rate before rates potentially fall.
- You might need this if you want a delayed pension start (1 to 5 years) so your eventual payout is larger than if it started immediately.
- You might need this if you want to secure income for a family member with a disability, since a lower minimum purchase price applies in that case.
- You might need this if you want the option to cover a second family member beyond just a spouse under the joint-life option.
How it actually works
- Entry age 30-79, deferment period 1-5 years; standard minimum purchase price is ₹1.5 lakh (₹50,000 for dependents with disabilities).
- Choose Single Life (annuity stops on your death) or Joint Life (continues to a named family member - spouse, parent, child, grandchild, or sibling - until the last survivor).
- Minimum annuity amounts are ₹1,000/month, ₹3,000/quarter, ₹6,000/half-year, or ₹12,000/year.
- Death during deferment or after vesting pays the higher of (purchase price + accrued additions - annuity already paid) or 105% of the purchase price.
- A loan can be taken after 3 months, up to 80% of surrender value, at a current interest rate of 9.50% p.a. (compounding half-yearly, subject to change).
- Surrender value uses a guaranteed factor of 75% (years 1-3) or 90% (year 4+) of purchase price, minus annuity already paid.
Worked example
For a ₹10 lakh purchase price with the primary annuitant aged 45 and a 5-year deferment, the yearly annuity is about ₹86,100 under Single Life or ₹82,800 under Joint Life (with a 35-year-old secondary annuitant).
The tiers
| Annuity option | Yearly | Half-yearly | Quarterly | Monthly |
|---|---|---|---|---|
| Single Life | ₹86,100 | ₹42,189 | ₹20,879 | ₹6,888 |
| Joint Life | ₹82,800 | ₹40,572 | ₹20,079 | ₹6,624 |
Worth knowing
- The annuity rate is locked in at purchase - if interest rates rise later, you can't switch to a better rate.
- This is an irrevocable income stream once it starts - there's no ongoing liquidity beyond the loan or surrender options.
- Surrendering before the deferment period ends means giving up future annuity growth for a discounted lump sum.
Retirement
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Jeevan Akshay-VII
An immediate annuity plan offering a choice of multiple payout structures, converting a lump sum into a pension that starts right away.
You might need this if
- You might need this if you have a retirement corpus (e.g. from a provident fund or gratuity payout) and want it converted into an income stream starting immediately.
- You might need this if you want to pick from several annuity structures, such as annuity for life only, annuity with return of purchase price to your heirs, or a joint-life annuity with your spouse.
- You might need this if you want annuity payments that increase over time, since some option variants offer step-up payouts to help offset inflation.
- You might need this if you're looking for a plan that generally does not require a medical exam to purchase.
How it actually works
- Works as an immediate annuity: a one-time lump-sum purchase price buys a fixed pension that starts based on your chosen payment frequency (monthly/quarterly/half-yearly/yearly).
- Offers multiple annuity options, ranging from a plain life annuity (no death benefit) to versions that return the purchase price to your nominee on death.
- Annuity rates depend on your age and the option chosen at purchase, and are locked in for life.
- A joint-life option can continue payouts to a spouse after the primary annuitant's death.
Worth knowing
- This plan's brochure could not be retrieved after repeated attempts (the LIC server returned errors each time); details above are based on general knowledge of this product category rather than the current official brochure.
- Annuity options that don't return the purchase price typically pay a higher monthly amount, but nothing is left for your heirs.
- Once purchased, the lump sum is generally illiquid outside of the plan's payout structure.
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 →
Retirement
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Jeevan Dhara-II
A deferred annuity plan letting you invest a lump sum (or premiums over time) now and start receiving a guaranteed pension after a chosen deferment period.
You might need this if
- You might need this if you want to lock in an annuity rate today but delay the start of your pension to a future date.
- You might need this if you're several years from retirement and want a guaranteed, non-market-linked income plan to complement other investments.
- You might need this if you want death benefit protection for your family during the deferment period, not just after payouts begin.
- You might need this if you want the flexibility of choosing between single-premium and regular-premium payment routes.
How it actually works
- You pay a lump sum or premiums over a period, then after a chosen deferment period, the plan starts paying a guaranteed regular annuity for life.
- Both single-life and joint-life annuity options are typically available.
- If death occurs during deferment, the plan generally returns the purchase price (or premiums with additions); after annuity commencement, similar death benefit rules can apply depending on the option chosen.
- A loan facility against the surrender value is typically available once the policy has run for a minimum period.
Worth knowing
- This plan's brochure could not be retrieved after repeated attempts (the LIC server returned errors each time); details above are based on general knowledge of this product category rather than the current official brochure - confirm exact figures with LIC.
- Surrendering during the deferment period generally returns less than what you've paid in, due to surrender charges.
- Once the annuity starts, the income is fixed and doesn't adjust for inflation in the base plan.
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 →
Term
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Smart Shield Plus
A flexible term life plan letting you choose level cover, automatically increasing cover, or cover that can be bumped up at major life events like marriage or a home purchase.
You might need this if
- You might need this if your income and responsibilities are likely to grow, and you want your cover to grow with them rather than staying fixed.
- You might need this if you'd rather not go through fresh medical underwriting every time your life changes — e.g. getting married or buying a house.
- You might need this if you want the option to add a spouse's life cover under the same policy at a low extra cost.
- You might need this if you want your family to have the choice of a lump sum or a steady income stream after your death, not just one or the other.
How it actually works
- Minimum sum assured is ₹25 lakh (no stated cap); entry age is 18 up (45 for the Whole Life option), with policy terms from 5 to 79 years.
- Three plan options: Level Cover (fixed sum assured), Increasing Cover (+5%/year up to 200% of original, until age 71), and Level Cover with Future Proofing (lets you bump cover at marriage, childbirth, or home purchase without medical checks, entry age capped at 40).
- Death benefit is the highest of 11× annualized premium, the sum assured, or 105% of total premiums paid (single pay uses 1.25× premium or sum assured instead).
- The optional Better Half Benefit extends ₹25 lakh level cover to your spouse (age gap ≤10 years) after your death, for a small added premium, until the spouse turns 60.
- An Accident Benefit Rider adds Accidental Death cover (up to ₹2 crore) and/or Accidental Partial Permanent Disability cover (up to ₹1.5 crore).
- Death benefit can be taken as lump sum, in installments over 5/10/15/20 years, or a mix of both.
Worked example
Rohan, age 30, non-smoker, takes ₹1 crore Level Cover over a 45-year term with Regular Pay for 12 years: annual premium ₹14,088. A death claim in year 12 pays the full ₹1,00,00,000.
Worth knowing
- Regular Pay policies have no surrender value at all; only Limited Pay and Single Pay versions build any surrender value.
- There's no maturity benefit — if you outlive the term, nothing is paid back (it's pure protection, aside from the ROP variants elsewhere in SBI's range).
- Policy loans are not available on this plan.
- Future Proofing cover increases require submitting proof within 6 months of the life event and only work if the policy is still in force.
Term
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Smart Shield Premier
A high-cover term plan aimed at customers wanting at least ₹2 crore of protection, with a choice of level or step-up cover and long policy terms up to age 85.
You might need this if
- You might need this if you need a large sum assured (₹2 crore or more) and want a plan purpose-built for high-net-worth cover levels.
- You might need this if you want your cover to rise automatically over time without extra underwriting.
- You might need this if you want the option to add accident-related riders for both death and permanent disability.
- You might need this if you'd like your family to have a choice between lump sum and phased installment payouts.
How it actually works
- Minimum sum assured is ₹2 crore; entry age from 18, maximum maturity age 85, policy terms from 10 to 65 years.
- Two cover options: Level Cover (fixed) or Increasing Cover, which rises by 10% of sum assured every 5 years up to a 100% cap, stopping increases after age 71.
- Premium payment can be Regular or Limited (5, 10, 15, 20, or 25 years), with discounts of 6–10% built into the limited-pay premium structure.
- Death benefit is the highest of the Absolute Amount Assured, 11× annualized premium, or 105% of total premiums paid.
- An optional Accident Benefit Rider adds up to ₹2 crore Accidental Death cover (max 3× base sum assured) and/or up to ₹1.5 crore Accidental Partial Permanent Disability cover.
- Installment death-benefit payouts use an interest rate of 200 basis points below the 10-year G-Sec yield (6.58% as the reference rate from April 2025).
Worked example
Aman Sinha, age 30, takes ₹2 crore Level Cover with an 85-year term: annual premium ₹24,592. Death in year 10 pays the full ₹2,00,00,000.
Worth knowing
- No surrender value on Regular Premium policies; Limited Premium policies only build surrender value after 2 years.
- No maturity benefit and no policy loan facility — this is a pure high-cover protection product.
- Suicide within 12 months of start or revival limits the payout to 80% of premiums paid or the surrender value, not the full death benefit.
- Rider premium is capped at 100% of the base premium, so very large rider cover isn't unlimited.
Term
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Saral Jeevan Bima
A standardized, no-frills term insurance plan (common across all Indian insurers) meant to make comparing basic life cover simple for first-time buyers.
You might need this if
- You might need this if you're buying term life insurance for the first time and want a simple, standardized product that's easy to compare across insurers.
- You might need this if your cover needs are modest (up to ₹25 lakh) rather than a large multi-crore policy.
- You might need this if you want a plan without add-on riders or complexity to worry about.
- You might need this if you're comfortable with a pure protection plan (no maturity payout) in exchange for lower premiums.
How it actually works
- Entry age 18 to up to 65-70 depending on channel; sum assured ranges from ₹5 lakh to ₹25 lakh, in multiples of ₹50,000.
- Policy term is 5 to 40 years (up to 60-65 depending on distribution channel); premiums can be paid yearly, half-yearly, monthly, or as a single lump sum.
- Death benefit (regular/limited pay) is the highest of 10× annualized premium, 105% of premiums paid, or the basic sum assured.
- There's a 45-day waiting period from policy start — only accidental deaths are covered during this window; other deaths get premiums refunded.
- No riders, no survival benefit, no maturity benefit, and no policy loan facility — it is intentionally a bare-bones product.
- A large sum assured discount of 5% (regular/limited pay) or 2% (single pay) applies for sums assured of ₹15 lakh or more.
Worked example
A healthy 35-year-old paying ₹11,480/year for ₹20,00,000 cover over 30 years: if death occurs in year 20, beneficiaries receive the full ₹20,00,000 (versus roughly ₹2,29,600 paid in premiums up to that point).
The tiers
| Age | 10-Year Term | 20-Year Term | 30-Year Term |
|---|---|---|---|
| 30 | ₹5,960 | ₹6,860 | ₹8,460 |
| 40 | ₹9,500 | ₹12,680 | ₹16,160 |
| 50 | ₹22,140 | ₹27,800 | N/A |
Worth knowing
- Suicide within 12 months voids the death benefit; only 80% (regular/limited) or 90% (single pay) of premiums paid is returned.
- No loan facility is available against this plan at all.
- Regular premium policies build no cancellation (surrender) value; limited premium policies only after 2 consecutive years of payment.
- Since it's a standardized product, feature flexibility is intentionally limited compared to SBI Life's other term plans.
Term
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Smart Swadhan Supreme
A term plan that returns 100% of all premiums paid if you outlive the policy term, combining life cover with a savings-style payout on survival.
You might need this if
- You might need this if pure term insurance feels like 'wasted money' to you if nothing happens, and you'd rather get your premiums back on survival.
- You might need this if you want meaningful cover (minimum ₹25 lakh) with the reassurance of a lump sum refund at the end.
- You might need this if you want the option to add accident-related riders on top of a return-of-premium structure.
- You might need this if you can commit to a fairly long-term policy (10-30 years) in exchange for the premium-back feature.
How it actually works
- Minimum sum assured is ₹25 lakh (no stated upper limit); entry age 18-60, policy terms 10-30 years, maximum maturity age 75.
- Premium payment options include Regular Pay (matches full term) or Limited Pay terms of 7, 10, or 15 years depending on the policy term chosen.
- Death benefit is the highest of the basic sum assured, 11× annualized premium, or 105% of total premiums paid.
- Maturity benefit returns 100% of total premiums paid as a lump sum if you survive to the end of the term.
- An optional Accident Benefit Rider offers Accidental Death cover (up to 3× base sum assured, max ₹2 crore) or Accidental Partial Permanent Disability cover (up to base sum assured, max ₹1.5 crore).
- A policy loan up to 50% of surrender value is available at around 8.50% p.a. (FY 2024-25 rate).
Worked example
Miss Sharma, age 30, buys ₹1 crore cover over 30 years: annual premium ₹22,284. Death in year 20 pays ₹1,00,00,000; surviving to maturity instead returns ₹6,68,520 (all premiums paid back).
Worth knowing
- The return-of-premium feature means premiums are meaningfully higher than a pure term plan with the same sum assured.
- Surrender value only becomes payable after one full year's premium is paid, and it's the higher of two formula-based values.
- Grace period is 30 days for yearly/half-yearly premiums but only 15 days for monthly — miss it and the policy lapses to paid-up status.
- Suicide within 12 months of start/revival caps the payout at 80% of premiums paid rather than the full death benefit.
Term
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eShield Insta
A fully digital, fast-issue 10-year term plan with two flavors — pure protection or protection plus full premium refund at maturity.
You might need this if
- You might need this if you want to buy term cover quickly online without lengthy paperwork or branch visits.
- You might need this if a fixed 10-year commitment suits your planning horizon better than a decades-long policy.
- You might need this if you want the flexibility to choose between the cheapest pure protection (Plan A) or a refund-on-survival version (Plan B).
- You might need this if your cover needs are moderate — between ₹10 lakh and ₹60 lakh — rather than very large sums.
How it actually works
- Entry age 18-50, fixed 10-year policy term, maturity age capped at 60; sum assured ranges ₹10 lakh to ₹60 lakh.
- Plan A (Pure Term) has no maturity payout; Plan B (Return of Premium) returns 100% of premiums paid if you survive the term.
- Premiums are paid yearly or monthly (8.5% loading for monthly); minimum yearly premium is ₹2,259 for Plan A and ₹10,735 for Plan B.
- Death benefit is the highest of the sum assured, 11× annualized premium, or 105% of total premiums paid to date of death.
- Plan B only: surrender value (higher of Guaranteed or Special Surrender Value) becomes available after one full year of premiums, and a policy loan up to 50% of surrender value is available.
- The brochure states there are no exclusions other than the standard suicide clause.
Worth knowing
- Plan A (pure term) has no surrender value, no paid-up benefit, and no policy loan — it's strictly protection-only.
- Suicide within 12 months of start or revival pays only 80% of premiums paid or surrender value, whichever is higher.
- The fixed 10-year term means you'll need to buy a fresh policy (with fresh underwriting) if you want cover to continue beyond that.
- Grace period is short — 15 days for monthly premiums — so missed payments can lapse the policy quickly.
Term
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Smart Swadhan Neo
A return-of-premium term plan with smaller, more accessible sum assured limits (up to ~₹25 lakh) than SBI Life's Supreme variant, plus optional accident riders.
You might need this if
- You might need this if you want a return-of-premium term plan but don't need (or can't afford) the ₹25 lakh+ minimum cover of the Supreme variant.
- You might need this if you want flexible premium terms — single pay, limited pay (7/10/15 years), or regular pay across a 15-30 year term.
- You might need this if you want to layer on Accidental Death and Partial Permanent Disability cover through a rider.
- You might need this if getting all your premiums back at maturity, with no waiting period restriction on the maturity benefit, matters to you.
How it actually works
- Sum assured ranges from ₹5,00,000 to ₹24,90,000; entry age 18-50; policy terms 15-30 years; maturity age up to 60-75 depending on channel.
- Death benefit (limited/regular pay) is the highest of the sum assured, 10× annualized premium, or 105% of premiums paid; single pay uses sum assured or 125% of single premium.
- Maturity benefit pays back 100% of total premiums paid as a lump sum with no waiting period restriction.
- The Accident Benefit Rider offers Accidental Death cover (up to ₹74.7 lakh or 3× sum assured) and/or Accidental Partial Permanent Disability cover (up to the base sum assured).
- Reduced paid-up value kicks in after the first full policy year if premiums lapse, rather than the policy simply terminating.
- Policy loans are capped at 50% of surrender value, at roughly 8.50% p.a. (FY 2024-25 rate).
Worked example
Mr. Aryan, age 40, buys ₹24,00,000 cover over a 25-year term: annual premium ₹28,595. Death in year 15 pays ₹24,00,000; surviving the full 25 years instead returns ₹7,14,882 (all premiums paid back).
Worth knowing
- Sum assured is capped at ₹24.9 lakh, so this plan won't suit those needing very large cover — Smart Swadhan Supreme (min ₹25L) is the fit for that.
- Guaranteed Surrender Value requires at least two consecutive years of premiums to be paid first.
- Suicide within 12 months of commencement pays at least 80% of premiums paid, not the full sum assured.
- This is a non-participating plan — it does not share in company profits, so there are no bonus additions to the maturity payout.
Term
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Saral Swadhan Supreme
A simplified return-of-premium term plan for entry ages up to 50, with sum assured between ₹25 lakh and ₹50 lakh and easier underwriting than larger plans.
You might need this if
- You might need this if you want a return-of-premium term plan with an easier issuance process than the bigger Smart Swadhan Supreme plan.
- You might need this if your cover needs fit comfortably within the ₹25-50 lakh band rather than needing an open-ended sum assured.
- You might need this if you're under 50 and want an accessible way to combine protection with a savings-style refund.
- You might need this if you'd like the option to add accident cover through a rider without a separate policy.
How it actually works
- Entry age 18-50; maturity age capped at 65; sum assured is ₹25 lakh to ₹50 lakh in multiples of ₹50,000; policy terms 10-30 years.
- Premium payment options: Regular Pay (10-30 yrs), Limited Pay 7/10 years (15-30 yr terms), or Limited Pay 15 years (20-30 yr terms).
- Death benefit is the highest of the basic sum assured, 11× annualized premium, or 105% of premiums paid to date of death.
- Maturity benefit returns 100% of total premiums paid as a lump sum on survival to the end of the term.
- The Accident Benefit Rider adds Accidental Death cover (up to ₹1.5 crore) and/or Accidental Partial Permanent Disability cover (up to the sum assured).
- Policy loan available up to 50% of surrender value at roughly 8.50% p.a. (FY 2024-25 rate, 150 bps above 10-year G-Sec).
Worked example
Mrs. Deepika, age 40, takes ₹50 lakh cover over a 25-year term: annual premium ₹42,998. Death in year 6 pays ₹50,00,000; surviving to maturity instead returns ₹10,74,950 (all premiums paid back).
Worth knowing
- Sum assured is capped at ₹50 lakh — those needing higher cover would need to look at SBI Life's other term plans.
- Non-disclosure rules mean the insurer can still contest a claim within 3 years of issuance for fraud or material misstatement.
- Suicide within 12 months of policy start pays only the higher of 80% of premiums paid or the surrender value.
- Surrender value only becomes payable after one full year of premiums have been paid.
ULIP
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Smart Elite Plus
A high-ticket ULIP for affluent investors, requiring minimum annual premiums of ₹2.5 lakh, with a choice of 9 funds and two death-benefit structures.
You might need this if
- You might need this if you have substantial surplus income (₹2.5 lakh+/year) and want market-linked growth bundled with life cover in one product.
- You might need this if you want a choice between a leaner death benefit (Gold) and a richer one that pays sum assured on top of the fund value (Platinum).
- You might need this if you want access to a wide spread of 9 funds, from pure equity to money market, under a single policy.
- You might need this if you're prepared to stay invested at least 5 years (the mandatory lock-in) and ideally the full 15-30 year term.
How it actually works
- Entry age 18-70; policy term 15-30 years; premium paying term is Limited (7, 10, or 12 years) or Single Pay; minimum yearly premium is ₹2,50,000.
- Sum assured is 7× annualized premium (limited pay) or 1.25× single premium (single pay); choose between Gold or Platinum death benefit structure.
- Death benefit: Gold pays the highest of fund value, sum assured minus withdrawals, or 105% of premiums paid; Platinum pays fund value plus sum assured, or 105% of premiums paid if higher.
- An inbuilt Accident Benefit (up to ₹50 lakh) covers accidental death and total permanent disability at no separate underwriting.
- Fund management charges range 0.25%-1.35% p.a. by fund type; premium allocation charge is 2.5% for years 1-5, then nil from year 6.
- Two free fund switches per policy year; partial withdrawals allowed from year 6, capped at 15% of fund value, with the fund value required to stay above 50% of total premiums paid.
Worked example
A 30-year-old paying ₹5,00,000/year for 10 years (Gold option, 100% Equity Elite Fund II, ₹35 lakh sum assured, 20-year term): projected maturity fund value ranges from about ₹73,61,143 (at 4% assumed return) to ₹1,34,05,910 (at 8% assumed return) — illustrative only, not guaranteed.
Worth knowing
- As a ULIP, all investment risk sits with you — fund values can fall as well as rise, and past fund performance isn't a guide to future returns.
- No liquidity in the first 5 years — you cannot surrender or withdraw during this lock-in period; discontinuing sends the fund to a low-yield Discontinued Policy Fund.
- Discontinuance charges apply in years 1-4 (up to 6% of premium, capped by rupee amount), dropping to nil from year 5.
- Minimum entry premium of ₹2,50,000/year makes this plan accessible only to higher-income buyers.
ULIP
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Smart Privilege Plus
A flexible ULIP with a wide 10-30 year term range, access to 12 funds, unlimited free switching, and loyalty additions that build up from year 6 onward.
You might need this if
- You might need this if you want a ULIP with a broader entry-age window (including for minors, from age 8, under Regular/Limited Pay) than typical adult-only plans.
- You might need this if you value unlimited free fund switching to actively manage your allocation over the years.
- You might need this if you want loyalty-driven boosts to your fund value simply for staying invested long-term (additions from year 6, scaling up to year 30).
- You might need this if you want the option to add both accidental death and disability riders on top of market-linked growth.
How it actually works
- Entry age 8-55 (Regular/Limited Pay) or 13-55 (Single Pay); maturity age 18-70; policy terms 10-30 years.
- Minimum premium is ₹50,000/month (Regular/Limited Pay) or ₹6,00,000 as a single lump sum; Limited Pay terms run 5-29 years.
- Death benefit is the highest of current fund value, sum assured minus withdrawals, or 105% of total premiums paid.
- Loyalty Additions are credited from policy year 6 onward, ranging 1.0%-7.0% of average fund value, stepping up at years 6, 10, 15, 20, 25 and 30.
- Fund management charges run 0.25%-1.35% p.a. across 12 funds; premium allocation charge is 2.5% in years 1-5, then nil.
- An optional Accident Benefit Rider adds up to ₹2 crore Accidental Death cover (3× base sum assured cap) and up to ₹1.5 crore Accidental Partial Permanent Disability cover.
Worked example
Mr. Jain, age 30, Regular Pay with riders (₹15,12,970 annual premium, ₹1.05 crore sum assured, 20-year term): projected maturity fund value ranges from ₹4,31,74,009 (4% assumed return) to ₹6,78,63,212 (8% assumed return).
Worth knowing
- No liquidity in the first 5 years — surrenders and full withdrawals are barred during the lock-in period.
- As with all ULIPs, the investment risk is entirely borne by the policyholder; fund NAVs can go up or down with markets.
- Discontinuing premiums during the lock-in shifts your money into the Discontinued Policy Fund (4% guaranteed minimum) until year 6.
- Partial withdrawals only begin from year 6, and only once the life assured has reached at least 18 years of age.
ULIP
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eWealth Plus
A fully online, low-entry-cost ULIP with a choice of a hands-off age-based Growth Strategy or manual fund selection across 12 funds, and zero premium allocation charge.
You might need this if
- You might need this if you want to start a ULIP online with a relatively modest premium (from ₹3,000/month or ₹36,000/year).
- You might need this if you'd rather not actively manage fund choices and prefer an automatic age-based glide path (the Growth Strategy).
- You might need this if you do want hands-on control and prefer picking from 12 funds yourself (the Active Strategy) with unlimited switches for premium redirection.
- You might need this if a zero premium allocation charge (100% of every premium invested from day one) matters to you when comparing ULIPs.
How it actually works
- Entry age 18-50; maximum maturity age 65; policy term 10-30 years minimum; premium paying term is Regular (matches term) or Limited Pay (7-10 years).
- Minimum premium: ₹3,000/month or ₹36,000/year; sum assured is set at 10× annualized premium.
- Growth Strategy auto-shifts allocation from equity-heavy (up to 80%) toward debt/money market as maturity nears; Active Strategy lets you pick manually from 12 funds.
- Death benefit is the highest of fund value at notification, sum assured minus prior withdrawals, or 105% of total premiums paid.
- There's no premium allocation charge at all — only a ₹100/month policy administration charge (capped at ₹500) and fund management charges of 0.25%-1.35% p.a.
- Two free switches/year (Active Strategy only) and one free partial withdrawal per year from year 6 onward, capped at 15% of fund value.
Worked example
Ms. Tina, age 30, pays ₹1,00,000/year for a 20-year term with ₹10,00,000 sum assured: projected maturity value ranges from ₹26,65,768 (4% assumed return) to ₹41,92,530 (8% assumed return); a death claim in year 10 would range from ₹11,41,104 to ₹14,24,906 depending on assumed growth.
Worth knowing
- No liquidity for the first 5 years — this is a standard ULIP lock-in that applies here too.
- Discontinuance charges in year 1 can run up to 20% of premium for high-premium policies, tapering to nil by year 5.
- Fund switching (Active Strategy) is capped at 2 free/year; additional switches cost ₹100 each.
- As with all ULIPs, fund performance is not guaranteed and the investment risk sits entirely with the policyholder.
ULIP
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Smart Fortune Builder
A goal-oriented ULIP that adds guaranteed additions at year 10 and every 5 years after, on top of market-linked fund growth, across a 15-30 year horizon.
You might need this if
- You might need this if you're saving toward a specific long-term goal (education, retirement, a big purchase) 15-30 years out and want built-in loyalty boosts along the way.
- You might need this if you want the reassurance of guaranteed additions at fixed milestones (year 10, then every 5 years) layered on top of variable market returns.
- You might need this if you're comfortable putting in ₹40,000-50,000+ a year and want a choice among 12 funds to match your risk appetite.
- You might need this if you'd like the option to add accident death/disability riders without buying a separate policy.
How it actually works
- Entry age 18-55; maximum maturity age 70; policy terms 15-30 years; premium options are Regular Pay, Limited Pay (7/10/12/15 years), or Single Pay.
- Minimum premium is ₹40,000-50,000/year (Regular/Limited Pay) or ₹65,000 (Single Pay); sum assured is 10× annualized premium or 1.25× single premium.
- Death benefit is the highest of current fund value, sum assured minus withdrawals, or 105% of premiums paid.
- Guaranteed Additions are credited at year 10 and every 5 years thereafter (in-force policies only), plus extra maturity additions of 5-10% of premium for higher premium bands — up to 150% cumulative for 30-year Regular Pay policies.
- Premium allocation charge starts at 9% in year 1, tapering to 0% by year 11 onward; fund management charges run 0.25%-1.35% p.a. across 12 funds.
- An Accident Benefit Rider adds Accidental Death cover (up to ₹75 lakh, 3× sum assured cap) and Accidental Partial Permanent Disability cover (up to the sum assured).
Worked example
Mr. Sanjay, age 35, pays ₹50,000/year for a 30-year term (₹5,00,000 sum assured, 100% Bluechip Fund): projected maturity value ranges from ₹22,82,166 (4% assumed return) to ₹45,42,661 (8% assumed return).
The tiers
| Premium Band | Extra Guaranteed Addition at Maturity |
|---|---|
| Below ₹1 lakh/year | 0% |
| ₹1-2 lakh/year | 5% |
| ₹2 lakh+/year | 10% |
Worth knowing
- No surrenders or partial withdrawals allowed during the mandatory 5-year lock-in, standard for all ULIPs.
- Premium allocation charge is steep in year 1 (9%) compared to some peer ULIPs, before dropping to zero from year 11.
- Guaranteed additions require the policy to remain in-force at each milestone — lapsing forfeits that boost.
- As with all ULIPs, investment risk and any shortfall from assumed illustrated returns are borne entirely by the policyholder.
Savings
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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
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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
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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
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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
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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
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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
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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
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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.
Retirement
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Smart Annuity Plus
A general (non-NPS) immediate or deferred annuity plan offering 11 payout structures - level, increasing, joint-life, return-of-purchase-price, and certain-period options - from a one-time purchase price.
You might need this if
- You might need this if you have a lump sum (retirement corpus, maturity proceeds, etc.) and want to convert it into a guaranteed income stream for life.
- You might need this if you want to protect your capital for your heirs - several options return your full purchase price to your nominee on death.
- You might need this if you're planning income for a couple - joint-life options continue paying your spouse after you're gone.
- You might need this if you want your income to keep pace with rising costs - simple or compound annual increase options (3% or 5%) are available.
- You might need this if you want to delay the start of payouts (deferred options, 1-10 years) to get a higher income rate later.
How it actually works
- Entry age is generally 30-95 years (0+ for product conversions; 45+ for deferred options); no upper limit on purchase price.
- Choose from 11 annuity options: plain life annuity, life annuity with return of purchase price, return of balance purchase price, simple/compound annual increase (3% or 5%), certain-period annuities (10 or 20 years), joint-life-and-survivor options, and deferred variants.
- Payouts can be monthly, quarterly, half-yearly, or yearly, paid via bank transfer, generally starting one period after purchase.
- Larger purchase prices (above ₹10 lakh) unlock incremental rate boosts, and further discounts/gross-ups apply for NPS subscribers, existing SBI Life pension customers, online purchases, and staff.
- There is no maturity value and no loan facility on this product - it is a pure annuity (income) product, not a savings-cum-payout plan.
- Surrender is only possible on deferred options or purchase-price-refund options, at the higher of guaranteed or special surrender value.
Worked example
For a ₹10 lakh purchase price at age 60, the brochure illustrates a plain Life Annuity paying about ₹77,826/year (7.78%) with no death benefit, versus a Life Annuity with Return of Purchase Price paying a lower ₹64,150/year (6.42%) but refunding the full ₹10 lakh to the nominee on death. A 10-year deferred Life Annuity with Return of Purchase Price bought at age 60 was shown paying roughly ₹1,25,852/year (12.59%) once payouts start at 70.
The tiers
| Annuity Option (₹10L purchase price, age 60) | Illustrative Annual Payout | Death Benefit |
|---|---|---|
| Life Annuity | ₹77,826 | None |
| Life Annuity + Return of Purchase Price | ₹64,150 | Full purchase price |
| Certain Period 10 years | ₹76,912 | Continues to spouse for balance of period |
| Joint Life & Last Survivor 100% | ₹70,695 | None |
| Joint Life & Last Survivor + Return | ₹63,883 | Full purchase price |
Worth knowing
- Once you choose an annuity option and it starts paying, it generally can't be changed or reversed - this is a long-term, largely irreversible commitment.
- Options without a return-of-purchase-price or certain-period feature pay nothing to your family if you die early - the trade-off for a higher headline rate.
- You must submit a periodic existence (life) certificate or your payouts will stop until you do.
- Increasing-income options start at a noticeably lower rate than level options, so short-term cash flow is lower in exchange for long-term inflation protection.
Retirement
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Saral Pension
A standardized (IRDAI-mandated format), single-premium immediate annuity plan with just two simple options - individual or joint-life - both returning the full purchase price to your family on death.
You might need this if
- You might need this if you want a simple, standardized annuity product that's easy to compare across insurers since its structure is regulator-mandated to be identical everywhere.
- You might need this if you want your family to get your original lump sum back no matter what - both available options return 100% of the purchase price.
- You might need this if you're older (40-80 entry age) and want an immediate, no-frills lifetime income from a single lump-sum payment.
- You might need this if you might need early access to funds - Saral Pension allows surrender after 6 months if diagnosed with a listed critical illness, which many annuity plans don't offer.
How it actually works
- Single premium only, entry age 40-80 years, no upper limit on purchase price.
- Only two annuity options: Life Annuity with 100% Return of Purchase Price (individual), or Joint Life Last Survivor Annuity with 100% Return of Purchase Price (covers you and your spouse).
- Payouts can be monthly, quarterly, half-yearly, or yearly via bank transfer; minimum monthly payout ₹1,000.
- On death, the full purchase price is returned to nominees (minus any annuity instalments already paid out after death, which get recovered).
- Surrender is allowed after 6 months if the annuitant is diagnosed with a specified critical illness, paying 95% of the purchase price minus any outstanding loan.
- A policy loan facility is available after 6 months, with interest capped at 50% of the annual annuity amount.
Worked example
For a ₹10 lakh purchase price at age 60, the brochure illustrates a Life Annuity with Return of Purchase Price paying about ₹60,560/year (6.06%), versus a Joint Life Last Survivor version paying slightly less at about ₹59,759/year (5.98%) - in both cases the full ₹10 lakh eventually goes to nominees.
Worth knowing
- Because both options guarantee return of the full purchase price, the annual payout rate is lower than plans that don't offer this guarantee.
- Outside of the critical-illness surrender window, this is largely an irreversible, illiquid product - you're locking in the purchase price for a lifetime income stream.
- Free look period is only 15 days for offline purchases (30 days if bought online), shorter than the 30-day standard on many other SBI Life products.
- A 2% additional benefit applies for SBI Life/RRB staff, not for the general public.
Retirement
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Retire Smart Plus
A unit-linked (market-invested) pension savings plan where you build a retirement corpus across 7 fund choices over 10-35 years, then use it to buy an annuity or withdraw partially at vesting.
You might need this if
- You might need this if you want market-linked growth potential for your retirement corpus rather than a fixed guaranteed rate, and you're comfortable bearing the investment risk yourself.
- You might need this if you want control over your asset allocation during the accumulation phase - 7 funds ranging from money market to 100% equity, with free switching.
- You might need this if you want flexibility at retirement: commute up to 60% of the corpus as a lump sum, buy an annuity (from SBI Life or elsewhere), or extend the accumulation period instead.
- You might need this if you may need emergency liquidity later in the policy - partial withdrawals are allowed after the 5-year lock-in for specific needs like education, medical treatment, or a home purchase.
How it actually works
- Entry age 20-60 years, vesting (maturity) age 30-70; choose Regular Premium (10-35 yr term), Limited Premium (5-8 yr pay, 15-35 yr term), or Single Premium (min ₹1 lakh).
- Money is invested in one or more of 7 pension funds (from Money Market to 100%-equity Optimiser), with unlimited free switching and premium redirection from year 2.
- A mandatory 5-year lock-in applies - no surrender or withdrawal is allowed in the first 5 policy years.
- At vesting, you get the fund value plus a 1.5% terminal addition; a further loyalty addition of 0.30% of average fund value is added annually from year 15 for longer-term policies.
- Death benefit while in force is the higher of (fund value + terminal addition) or 105% of total premiums paid; the nominee can take it as a lump sum or use it to buy an annuity.
- Charges include premium allocation charges (2.5%-6% depending on year), fund management charges (0.25-1.35% p.a.), and a monthly policy admin charge (capped at ₹500/month); no policy loan is available.
Worked example
For a 30-year-old paying ₹1,00,000/year for 25 years into the Equity Pension Fund, the brochure projects a maturity value (fund value + terminal addition) of roughly ₹35.5 lakh at an assumed 4% return or ₹63.1 lakh at an assumed 8% return - illustrative, not guaranteed, since returns depend on actual market performance.
Worth knowing
- This is a unit-linked plan, so your fund value can go down as well as up - unlike SBI Life's guaranteed savings products, there's no minimum return promise on the invested amount.
- No withdrawals of any kind (including surrender) are allowed during the first 5 years, regardless of circumstances.
- No riders are available to add on to this product.
- All fund and administration charges are deducted from your investment regardless of market performance, which drags on returns in flat or down markets.
Retirement
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Smart Annuity Income
An annuity plan exclusively for National Pension System (NPS) subscribers converting their NPS corpus into a regular income at retirement, with five payout structures including a family-income option.
You might need this if
- You might need this if you're an NPS subscriber who must annuitize part of your NPS corpus at retirement/exit and want an SBI Life option built specifically for that purpose.
- You might need this if you want your spouse to keep receiving your annuity income after you're gone (joint-life options).
- You might need this if you want your family's income to extend even further - the Family Income option can pass benefits to dependent parents and eventually children.
- You might need this if you want your original purchase price refunded to your family rather than the annuity payments simply stopping at death (return-of-purchase-price options).
How it actually works
- Available exclusively to NPS subscribers at scheme exit; for joint-life options, the age gap between annuitants cannot exceed 30 years.
- Choose from 5 annuity options: Single Life Annuity, Single Life with Return of Purchase Price, Joint Life Annuity, Joint Life with Return of Purchase Price, and Family Income (covers subscriber, spouse, then dependent parents, then children).
- Purchase price comes from your NPS corpus, with a minimum set so as to meet PFRDA's minimum annuity payout rules; no maximum limit.
- Payouts can be yearly, half-yearly, quarterly, or monthly, fixed at the rate applicable when you purchase the annuity and unaffected by future market movements.
- Death benefit depends on the option chosen - ranges from no payout (plain options) to full purchase price returned to the nominee, or continuation to a surviving spouse/parent/child under Family Income.
Worked example
For a ₹10 lakh purchase price at age 60, illustrated payouts include about ₹6,423/month for a plain Single Life Annuity, versus a lower ₹5,433/month for Single Life with Return of Purchase Price (which refunds the ₹10 lakh to the nominee on death); a Joint Life Annuity was shown at about ₹5,890/month.
Worth knowing
- This plan is restricted to NPS exit proceeds - you cannot use it to annuitize savings from other sources.
- As with most annuities, options without a return-of-purchase-price feature pay a higher monthly income but leave nothing for your family if you die early.
- A specific downloadable brochure PDF was not found on SBI Life's public site during research; details here are drawn from the official Smart Annuity Income product page and product guide document.
- Once purchased, the annuity option generally cannot be changed.
Term
+
Sampoorna Raksha Promise
A flexible term insurance plan offering whole-life cover (up to age 100), a return-of-premium variant, and choice of lump sum, income, or combination payouts to your family.
You might need this if
- You might need this if you want life cover that can extend all the way to age 100 rather than ending at a fixed term like 60 or 70.
- You might need this if you like the idea of getting your premiums back if you outlive the policy - the Life Promise Plus / return-of-premium variant refunds premiums paid at maturity if there's no claim.
- You might need this if you want your family to have choices in how they receive the payout - lump sum, staggered income, or a mix - rather than only a single lump sum.
- You might need this if your protection needs might grow over time - the plan lets you increase cover at life milestones like marriage, buying a home, or having a child.
- You might need this if you're worried about missing a premium due to a temporary cash crunch - a deferment feature lets you delay payment by up to 12 months without losing cover.
How it actually works
- Entry age is roughly 18-65 years, with cover available up to age 100 (whole-life option); minimum sum assured starts around ₹50 lakh with no stated upper cap.
- Death benefit payout can be taken as a lump sum, in staggered instalments, or as a combination, based on what the nominee needs at the time of claim.
- A Terminal Illness benefit lets the policyholder claim all or part of the sum assured while still alive if diagnosed with a terminal illness.
- The Life Promise Plus variant returns all premiums paid (minus certain charges/discounts) at maturity if no claim was made, at a higher premium than the plain term option.
- Riders available include critical illness (CritiCare Plus), accidental death, total & permanent disability, waiver of premium, and a hospital cash benefit (Hospicare).
- An express claims feature aims to pay out smaller claims (up to roughly ₹5 lakh) within one working day of intimation.
Worth knowing
- The return-of-premium (Life Promise Plus) variant costs meaningfully more than the plain term version, since you're paying extra for the money-back guarantee.
- Standard term-plan exclusions apply: death by suicide within the first policy year is excluded (only a portion of premiums is typically refunded), and deaths from criminal or unlawful activity are excluded.
- The underlying brochure PDF could not be accessed directly during research (blocked by the insurer's site rules); figures here are drawn from Tata AIA's official plan page and consumer-advisory sources rather than the full prospectus - confirm exact numbers before relying on them.
- Riders come at extra cost and have their own eligibility and claim conditions separate from the base plan.
Term
+
Maha Raksha Supreme Select
A high-sum-assured term insurance plan (minimum ₹2 crore) offering flexible payout modes, life-stage cover increases, and a choice between pure protection and return-of-premium variants.
You might need this if
- You might need this if you're looking for substantial cover - this plan's minimum sum assured starts at ₹2 crore, aimed at higher-income buyers.
- You might need this if you want the flexibility to increase your cover later at key life events (marriage, childbirth) without fresh medical underwriting.
- You might need this if you want to choose between a lower-cost pure term option (Life Secure) and a return-of-premium option (Life Secure Plus) depending on whether you want your premiums back if you outlive the policy.
- You might need this if a family member might need extra financial support beyond a lump sum - the plan can pay out as monthly income instead of, or alongside, a lump sum.
- You might need this if you're planning around pregnancy or short-term cash flow gaps - the plan offers a premium-deferment window and a pregnancy premium holiday for women policyholders.
How it actually works
- Entry age roughly 18-65 years, cover available up to age 100; minimum sum assured ₹2 crore with no stated maximum (subject to underwriting).
- Premium payment options include Regular Pay, Limited Pay, and Single Pay, in monthly, quarterly, half-yearly, or yearly frequency.
- Death benefit can be paid as a lump sum, as monthly income, or as a combination of both.
- Life Stage Benefit allows increasing cover by up to 50% at marriage or 25% per child, without new medical checks.
- A Terminal Illness benefit pays 50% of the sum assured if diagnosed with a terminal illness (life expectancy under 6 months), and waives future premiums.
- Riders available include Critical Illness (CritiCare Plus, covering around 40 illnesses), Accidental Total & Permanent Disability, Accidental Death Benefit, Waiver of Premium, Hospicare, and a wellness add-on; two plan variants exist - Life Secure (pure term) and Life Secure Plus (return of premium).
Worth knowing
- The ₹2 crore minimum sum assured makes this plan unsuitable for buyers wanting smaller cover amounts.
- The return-of-premium variant (Life Secure Plus) comes at a noticeably higher premium than the pure-protection Life Secure variant.
- The instant claims payout feature (around ₹3 lakh within a working day) is only available after the policy has completed 3 policy years.
- The underlying brochure PDF could not be accessed directly during research (blocked by the insurer's site rules); figures here are drawn from Tata AIA's official plan page and consumer-advisory sources rather than the full prospectus - confirm exact numbers before relying on them.
Term
+
Shubh Shakti
A term life insurance plan built specifically for women, combining a straightforward death benefit with women-focused perks like discounted pricing, a pregnancy premium holiday, and wellness screenings.
You might need this if
- You're a woman — salaried, homemaker, entrepreneur, or single parent — and want a term plan priced and designed around your life stages rather than a repackaged men's policy.
- You want lower pricing than a standard unisex term plan — Tata AIA positions Shubh Shakti premiums as roughly 15% lower than its regular term plans for equivalent cover.
- You're planning a pregnancy and don't want a missed premium during that period to risk your cover lapsing — the plan offers a premium holiday of up to 12 months.
- You're a single mother and want a plan that factors that into pricing and benefits rather than treating your family structure as an edge case.
- You want a child-education safety net built in, so a nominated child keeps receiving money each month if you're not there to provide it.
How it actually works
- Pick a sum assured tier — Tata AIA advertises options such as ₹50 lakh, ₹75 lakh, and ₹1 crore, with illustrative starting premiums quoted from about ₹8-₹13 per day depending on the cover chosen.
- If you die during the policy term, your nominee gets the sum assured as a lump sum; for sums assured above ₹1 crore, Tata AIA says an interim payout of around ₹3 lakh can be released quickly after the policy has run 3 years, with the balance following once the full claim is processed.
- An optional Child Education Protection rider pays a monthly amount (roughly ₹5,000-₹50,000, depending on the option chosen) to your child until they reach an age between 21 and 25.
- A waiver-of-premium feature keeps the policy active without further premiums if your spouse dies in an accident.
- Diagnosis of a covered terminal illness triggers an early payout of part of the sum assured, rather than the family waiting for a death claim.
- Add-on wellness access (branded 'Health Buddy Enhance') bundles annual check-ups with women-specific screenings — e.g. PAP smear, anaemia, PCOS — plus an OPD allowance Tata AIA quotes at up to roughly ₹64,100 over the term.
Worked example
Tata AIA's own marketing example: a policyholder with a sum assured above ₹1 crore who dies after the 3rd policy year can have an interim payout of about ₹3 lakh released to the family quickly, with the rest of the claim following standard processing — useful for immediate expenses, not an amount on top of the sum assured.
The tiers
| Illustrative life cover | Starting premium (as marketed) |
|---|---|
| ₹50 Lakh | ~₹8/day |
| ₹75 Lakh | ~₹10/day |
| ₹1 Crore | ~₹13/day |
Worth knowing
- The per-day premium figures and discount percentages come from the insurer's own marketing pages; your actual quote depends on age, health, smoking status, sum assured, and term.
- This is pure term cover — if you outlive the policy term there's no maturity payout, unless you separately opt into a return-of-premium version.
- Riders (Child Education Protection, waiver of premium) typically add to the premium and must be selected at purchase, not added later.
- As with any term plan, accurate medical and lifestyle disclosure at purchase matters — non-disclosure is the most common reason genuine claims get contested.
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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Term
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Shubh Shakti Select
A women-focused term life insurance plan apparently positioned as a variant or tier within Tata AIA's Shubh Shakti term family — no dedicated public product page or brochure could be located for this exact name during this research.
You might need this if
- You've heard of Tata AIA's women-focused Shubh Shakti plan and are considering a 'Select' variant, which insurers typically use to denote a higher sum-assured band, added riders, or a premium-tier bundle rather than a wholly different product.
- You want dedicated term cover for a woman policyholder and are comparing named variants before requesting a quote.
- You want to confirm whether 'Select' unlocks extra benefits (e.g. richer critical-illness or return-of-premium options) compared with the base plan, which is exactly what 'Select' suffixes usually signal in this insurer's naming pattern.
How it actually works
- Category-typical mechanics: choose a sum assured and term, pay level premiums, and your nominee receives the sum assured as a lump sum on death during the term.
- 'Select' variants generally add optional features on top of a base plan — e.g. a higher maximum sum assured, extra riders, or a different premium structure — but Tata AIA's public site did not surface a distinct page for this exact name during this research.
- As with the base Shubh Shakti plan, any women-specific pricing or wellness perks (if included here) would need confirmation directly from Tata AIA or an advisor, since no plan-specific document could be verified.
- If it exists as marketed, expect standard term-plan add-ons (waiver of premium, terminal illness advance payout) to be optional riders rather than automatically included — but again, this is a category-typical expectation, not a confirmed feature of this exact plan.
Worth knowing
- This plan name could not be confirmed via Tata AIA's public site or major insurance aggregators at the time of this research — it may be a distributor-specific, discontinued, renamed, or bundled product; always ask for the current official name before buying.
- Do not rely on the bullets above for exact figures — they describe how 'Select' term-plan variants generally work in this market, not confirmed facts about this specific plan.
- Get written confirmation of the exact plan name, UIN, and current brochure from Tata AIA or a licensed advisor before purchasing.
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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ULIP
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Param Raksha Life Pro Plus
A unit-linked plan that bundles a large term-style life cover with market-linked fund investing and add-on health/accident benefits, aimed at buyers who want high protection and investment growth in one policy.
You might need this if
- You want a high life cover (minimum ₹50 lakh, no upper cap) alongside a market-linked investment component, instead of buying a separate term plan and a separate ULIP.
- You're comfortable committing to a long-term policy — terms run from 30 up to 82 years, with premium payment terms of 5 to 67 years — in exchange for structured wealth building plus insurance.
- You want accident protection layered in: additional accidental death and total/permanent disability cover ranging roughly ₹45 lakh to ₹5 crore.
- You'd value an early payout if diagnosed with a terminal illness, rather than the family waiting for a standard death claim.
- You want fund-switching flexibility and access to top-rated (4-5 star Morningstar) fund options rather than a fixed traditional payout.
How it actually works
- Entry age runs 18-65; life cover can continue up to age 100, while accident-related benefits (ADB/ATPD) apply only up to age 85.
- Minimum annual premium depends on your payment term: about ₹20,000/year for a 5-6 year limited-pay term, ₹18,000/year for 7-9 years, and ₹15,000/year for longer terms.
- Premiums (minus charges) are invested in your chosen mix of equity/debt/balanced funds; you can switch funds for free as markets or your risk appetite change.
- On death, the nominee gets the applicable death benefit per policy terms; on maturity, you get the accumulated fund value, plus a maturity booster and a refund of eligible 'Health Buddy' wellness premiums paid.
- A terminal-illness diagnosis triggers an advance payout of about 10% of the base sum assured, ahead of the full claim.
- Optional extras include doctor teleconsultations and medical second-opinion support bundled into the plan.
The tiers
| Limited-pay term | Minimum annual premium |
|---|---|
| 5-6 years | ₹20,000 |
| 7-9 years | ₹18,000 |
| 10+ years / regular pay | ₹15,000 |
Worth knowing
- ULIPs like this carry a mandatory 5-year lock-in and no full liquidity before that — don't fund this with money you might need in the first 5 years.
- Fund returns aren't guaranteed; the investment risk sits with you as the policyholder, not the insurer.
- The official brochure PDF for this exact plan wasn't directly openable during this research (Tata AIA's site blocks automated PDF access); figures above are cross-checked against the insurer's product page and a licensed aggregator, but confirm current terms before buying.
- Charges (fund management, mortality, discontinuance) apply and reduce net returns versus the headline premium — ask for the charge schedule before comparing this to a pure mutual fund SIP.
ULIP
+
Param Raksha Life Pro
A bundled term-plus-ULIP style plan pairing a Tata AIA unit-linked policy (Smart Sampoorna Raksha Supreme) with a separate health/wellness product (Vitality Protect Advance), aimed at buyers wanting high life cover with market-linked upside.
You might need this if
- You want a large life cover (minimum ₹50 lakh, uncapped upside) combined with market-linked investing, similar in spirit to Param Raksha Life Pro Plus but structured as a bundle of two underlying products.
- You want the option of very long policy terms (this plan is illustrated with terms up to 50 years) for lifelong-style protection plus growth.
- You'd like a first-year discount on the health/wellness (Vitality Protect Advance) component as an added incentive.
- You want to see realistic outcomes before committing — the insurer's own illustration shows both an optimistic and a conservative growth scenario, not just a rosy headline number.
How it actually works
- Entry age 18-65; life cover can run to age 100, accident-related benefits to age 85; premium payment terms range from 5 years up to age 85.
- Minimum annual premium mirrors the Pro Plus structure: about ₹20,000/year for 5-6 year limited pay, ₹18,000/year for 7-9 years, ₹15,000/year for longer or regular pay.
- Sum assured starts at ₹50 lakh for life cover (no upper limit) and ₹45 lakh for accidental death/disability (up to ₹5 crore).
- On death, your nominee gets a lump-sum payout; a total/permanent-disability accident also triggers a benefit; a terminal-illness diagnosis pays roughly 10% of sum assured early.
- At maturity you receive the fund value built up over the term, plus return of the Vitality Protect Advance premiums you paid.
- Tata AIA's own example (₹1 crore sum assured, 50-year term) shows the swing in outcomes: at an assumed 8% fund growth, maturity value works out to about ₹1.36 crore (illustrated IRR ~5.4%); at an assumed 4% growth, it drops to about ₹11.2 lakh — below total premiums paid once charges are factored in.
Worked example
Tata AIA's own illustration for a ₹1 crore sum assured over a 50-year term: at an assumed 8% p.a. fund growth, the projected maturity value is about ₹1.36 crore (illustrated IRR ~5.4%). At the conservative assumed 4% p.a. growth, the projected maturity value falls to about ₹11.2 lakh — actually below the total premiums paid once charges are factored in. This is exactly why ULIP illustrations show two scenarios: actual returns are not guaranteed.
The tiers
| Limited-pay term | Minimum annual premium |
|---|---|
| 5-6 years | ₹20,000 |
| 7-9 years | ₹18,000 |
| 10+ years / regular pay | ₹15,000 |
Worth knowing
- This is a bundled product — the ULIP piece and the Vitality Protect Advance piece are effectively separate components sold together, so read both sets of terms.
- The insurer's own conservative-scenario illustration (4% growth) shows a possible negative real return after charges — a reminder that ULIP charges meaningfully affect net outcomes over decades.
- 5-year lock-in applies, with no free withdrawals before that.
- As with Pro Plus, the direct brochure PDF wasn't retrievable during this research; figures come from the insurer's product page and a specialist ULIP review site — verify against the current official document.
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 →
ULIP
+
Param Raksha Life Maxima+
A whole-life-style ULIP pairing high life cover (to age 99-100) with market-linked investing and a wellness-linked premium discount program, aimed at younger buyers wanting decades of combined protection and growth.
You might need this if
- You're early-to-mid career (entry age capped at 45) and want a single policy that covers you to around age 100 while also building an investment corpus.
- You want your everyday health habits to actually lower your cost — the Tata AIA Vitality Wellness Program offers up to a 10% discount tied to wellness activity.
- You want accident cover bundled in — up to ₹2 crore for accidental death/disability, on top of the base life cover.
- You want your wellness-program premiums (not just the base premium) returned to you at maturity rather than treated as a sunk cost.
How it actually works
- Entry age 18-45; policy term 30-40 years; life cover can extend to age 100, accident benefits to 85.
- Premium payment options: limited pay over 5, 10, or 12 years, or regular pay over the full 30/40-year term; minimum annual premium is about ₹20,000 for the 5-year pay term, ₹15,000 for other terms.
- Life cover sum assured ranges from ₹50 lakh to ₹5 crore; accident (ADB/ATPD) cover goes up to ₹2 crore, with a 2x multiplier if the accident happens on public transport.
- On death, the nominee receives a lump-sum payout; on maturity, you get the market-linked fund value plus a return of all Vitality Protect Advance premiums paid during the term.
- Wellness-linked pricing gives up to a 10% discount on the first year's premium, plus ongoing reward potential for staying active/healthy.
- Tax benefits apply under Sections 80C (premiums) and 10(10D) (maturity/death proceeds), per prevailing income tax law.
The tiers
| Limited-pay term | Minimum annual premium |
|---|---|
| 5 years | ₹20,000 |
| 10 or 12 years / regular pay | ₹15,000 |
Worth knowing
- Entry age is capped at 45 — this plan is positioned for younger buyers, not near-retirement purchasers.
- Wellness discounts require ongoing engagement with the Vitality program; check what happens to pricing/benefits if you don't hit activity targets.
- 5-year ULIP lock-in applies; fund returns are market-linked and not guaranteed.
- The direct brochure PDF for this exact plan wasn't retrievable during this research; details are cross-checked against the insurer's product page and a licensed ULIP review aggregator.
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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ULIP
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Shubh Invest Protect
A newly launched Tata AIA 'Term + Wealth' plan — confirmed as listed on the insurer's own site alongside Param Raksha Life Pro+ and Maxima+ — combining life cover with market-linked investing; detailed terms weren't publicly retrievable at the time of this research.
You might need this if
- You're comparing Tata AIA's 'Term + Wealth' plan family (alongside Param Raksha Life Pro+/Maxima+) and want to know Shubh Invest Protect exists and roughly where it sits — a bundled protection-plus-investment plan rather than a pure term or pure ULIP.
- You want high life cover with an opportunity to grow wealth in the same policy, which is how Tata AIA's own site describes this product category.
- You're doing early research before requesting a personalised illustration from an advisor or the insurer directly.
How it actually works
- Category-typical mechanics for this family of plans: pay premiums, a portion covers life insurance charges, and a portion is invested in market-linked funds you select.
- Expect a death benefit (lump sum and/or fund value to your nominee) and a maturity benefit (accumulated fund value) — the exact formula for this specific plan could not be confirmed.
- Like sibling plans in this family, likely features could include free fund switching, optional riders, and a 5-year lock-in — but these are typical-for-category assumptions, not confirmed facts about this plan.
- As a plan positioned in the 'Term + Wealth' family, it likely sits between a pure term plan (cheaper, protection-only) and a pure ULIP (investment-first) — but the exact balance for this plan couldn't be verified.
Worth knowing
- Tata AIA's site confirms this plan exists and is tagged 'New' under Term + Wealth plans, but the dedicated product page did not return specific eligibility, premium, or charge details during this research, and the official brochure is not publicly downloadable without a lead form.
- Do not rely on the 'how it works' bullets above for exact numbers — get the current brochure/illustration directly from Tata AIA or a licensed advisor.
- Being newly launched, terms and even the exact structure could still be evolving — always check the latest version before buying.
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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ULIP
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Premier SIP
A ULIP built around disciplined, SIP-style investing — zero allocation charges so your full premium is invested from day one — combined with life cover and a bundled 'Health Buddy' accident/health benefit.
You might need this if
- You like the discipline of a mutual-fund SIP but want life insurance bundled in, and you don't want allocation charges eating into your invested premium.
- You want flexibility on contribution size — premiums here can start from about ₹1,000/month up to roughly ₹2.5 lakh/year — to fit a range of budgets.
- You want a long investment runway — policy terms go up to 50 years — for genuinely long-horizon goals like retirement.
- You want built-in accident and terminal-illness protection (via the Health Buddy component) without buying a separate rider policy.
- You want to switch between funds for free as your risk appetite or market view changes, without extra cost.
How it actually works
- Entry age 18-50; policy term 10-50 years; premium payment term is 5-20 years for limited pay or 10-50 years for regular pay.
- Because allocation charges are nil, all of your premium (minus mortality and fund management charges) is invested in your chosen funds from the first payment.
- Choose from 50+ funds spanning equity (multi/large/mid/small cap), fixed income, balanced, and index options; Tata AIA cites some funds (e.g. Multi Cap) with historical 10-year returns in the 20%+ range — past performance, not a promise.
- On death, the nominee receives the higher of the sum assured or the fund value; the bundled Health Buddy component adds accidental death, total permanent disability, and terminal-sickness cover.
- At maturity (if you're alive), you receive the accumulated fund value.
- A 5-year lock-in applies — no withdrawals or surrender in that window — after which partial withdrawals become available.
The tiers
| Parameter | Range |
|---|---|
| Entry age | 18-50 years |
| Policy term | 10-50 years |
| Minimum premium | ~₹1,000/month |
| Maximum premium | ~₹2.5 lakh/year |
Worth knowing
- 'Zero allocation charge' doesn't mean zero charges overall — fund management and mortality charges still apply and affect net returns.
- Fund performance figures quoted by the insurer/aggregators (e.g. 20%+ historical returns) are past performance for specific funds, not guaranteed future returns.
- 5-year lock-in with no full liquidity before that; early exit can mean getting back less than what you paid in.
- Section 80C premium deduction and maturity tax treatment follow prevailing income tax rules, which can change — don't assume today's tax treatment holds for a 30-50 year policy.
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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ULIP
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Smart Fortune Plus
A flexible ULIP offered in four benefit structures (Wealth Secure, Future Secure, Goal Secure, Family Secure) so you can pick how death benefits are paid out — lump sum, continued investing, or ongoing income — alongside market-linked fund investing.
You might need this if
- You want to choose how your family is protected on your death — a straight payout, continued fund growth with premiums waived, or a monthly income stream — rather than a single fixed structure.
- You want a plan that can run for a whole lifetime: this plan supports whole-life-style coverage under its Wealth Secure option.
- You're comparing 60+ fund options across equity, balanced, fixed income, index, and pension-oriented funds, and want a plan with broad fund choice.
- You want fee-free flexibility — no charges for fund switching or partial withdrawal, and no discontinuance charge on the top-up premium portion.
- You want extra allocation boosts for being a higher-premium payer (High Premium Booster) or a female policyholder (Smart Lady Benefit), which add a bit of extra unit allocation over the term.
How it actually works
- Pick one of four structures at purchase: Wealth Secure (whole-life cover, maturity paid if you're alive), Future Secure (on death, insurer funds future premiums and the fund keeps growing for the family), Goal Secure (death benefit plus continued fund value), or Family Secure (monthly income of about 1% of sum assured to the family, with the insurer funding further premiums).
- Premiums can be paid single, annual, semi-annual, quarterly, or monthly; top-up premiums (minimum ₹1,000) are also allowed.
- Money is invested in your chosen mix from 60+ funds; loyalty additions of about 0.20% of units are credited annually starting from the 11th policy year.
- Female policyholders get an extra 0.50% of annualised premium (0.25% of single premium) added to allocation in year one; higher annual premiums (₹50k+, ₹1.2L+) unlock an additional 0.25-0.50% allocation booster.
- At maturity, you (or the plan structure you chose) receive the fund value including any top-up fund value, valued at the prevailing NAV.
- If you stop paying premiums after the lock-in, the policy can continue as reduced paid-up, with mortality charges applied only to the reduced sum assured.
The tiers
| Option | What happens on death |
|---|---|
| Wealth Secure | Policy ends; nominee gets death benefit; no further premiums |
| Future Secure | Insurer pays future premiums; fund keeps growing for family; maturity value paid later |
| Goal Secure | Nominee gets death benefit plus the fund value continues to accumulate |
| Family Secure | Family gets ~1% of sum assured monthly; insurer funds further premiums; maturity value paid later |
Worth knowing
- The four options materially change what your family receives and when — 'Family Secure' trades a lump sum for ongoing monthly income, which suits some households and not others; understand the trade-off before choosing.
- 5-year ULIP lock-in and market-linked, non-guaranteed returns apply as with any ULIP.
- Loyalty additions and boosters only kick in from certain years or premium tiers — don't assume you'll automatically get the maximum booster percentage.
- The exact PDF brochure couldn't be opened directly during this research (Tata AIA blocks automated downloads); details are drawn from the insurer's product page and rider/UIN references found via a licensed aggregator — confirm current terms before buying.
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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ULIP
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Fortune Pro
A ULIP offering life cover up to age 80 combined with market-linked investing across 11 fund options, aimed at buyers who want structured wealth-building with flexible premium payment terms.
You might need this if
- You want life cover that runs long (up to age 80) alongside an investment component, rather than buying term and mutual funds separately.
- You want to choose between paying once (single pay) or over a limited number of years, rather than being locked into paying for the entire policy term.
- You want a moderate, curated set of fund choices (11 options) rather than being overwhelmed by dozens of funds.
- You're comfortable investing a meaningful amount upfront — minimum premium is around ₹1 lakh single pay or ₹50,000/year for regular/limited pay — for a more substantial investment-linked policy.
- You want optional riders (accidental death, waiver of premium among them) layered on top of the base cover.
How it actually works
- Entry age 0 (30 days) to 59 years; maturity age 18-75; policy term 15-40 years.
- Minimum premium: about ₹1 lakh for single pay, or ₹50,000/year for regular or limited pay.
- Premiums are invested across your choice of the plan's 11 fund options; loyalty additions are credited periodically to boost the fund value over time.
- Partial withdrawals are permitted after you've completed 5 policy years, subject to plan rules.
- On death, the nominee typically receives the higher of sum assured or fund value (standard ULIP structure); at maturity, you can take the payout as a lump sum or in instalments.
- Tax benefits apply under Section 80C (premiums) and Section 10(10D) (proceeds), subject to prevailing tax law and premium-to-cover ratio conditions.
The tiers
| Parameter | Detail |
|---|---|
| Entry age | 0 (30 days) - 59 years |
| Policy term | 15-40 years |
| Minimum premium (single pay) | ~₹1,00,000 |
| Minimum premium (regular/limited pay) | ~₹50,000/year |
| Fund options | 11 |
Worth knowing
- 5-year lock-in applies before any withdrawal or surrender, standard for ULIPs in India.
- Minimum premiums here are meaningfully higher than many other Tata AIA ULIPs (like Smart SIP or Premier SIP), making this a higher-ticket product.
- Returns are market-linked and not guaranteed; loyalty additions and other boosters have specific eligibility years/tiers — check the payout schedule rather than assuming immediate benefit.
- The official brochure PDF link provided couldn't be opened directly during this research due to the insurer's site blocking automated PDF access; figures are cross-checked against the insurer's product page and an aggregator summary.
ULIP
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Smart SIP
A ULIP positioned as Tata AIA's systematic-investment-style plan, with zero premium allocation charges and access to funds carrying 4-5 star Morningstar ratings, aimed at investors who want SIP-like discipline plus life cover.
You might need this if
- You like SIP-style disciplined investing but want a life insurance wrapper around it, and don't want an allocation charge taken off the top of every contribution.
- You want to invest in funds that carry independent (Morningstar) quality ratings rather than picking blind.
- You want flexibility on how you eventually draw money out — Tata AIA highlights multiple post-lock-in income options (systematic, capped, and index-based withdrawal plans) rather than a single fixed payout method.
- You want a plan with a genuinely broad entry-age window, useful whether you're buying for yourself or for a minor.
How it actually works
- Entry age spans roughly 30 days to 65 years, with maturity age 18-85 and policy terms up to about 30 years, depending on the option and age at entry.
- Zero premium allocation charges mean your premium (minus mortality/fund charges) goes fully into your chosen funds from the outset.
- Fund menu is built around funds Tata AIA describes as 4-5 star Morningstar-rated at the time of marketing (ratings change over time).
- After the mandatory lock-in, you can draw income via SWP (systematic), CWP (capped), or IWP (index-based) withdrawal strategies rather than being limited to one method.
- A waiver-of-premium style benefit can keep the policy going through specified unforeseen events, per plan terms.
- Standard ULIP mechanics apply: choose funds, pay premiums, values move with markets, and death/maturity benefits are paid from the fund value (plus any minimum sum-assured guarantee, per policy wording).
Worth knowing
- Some third-party summaries of this plan closely echo language used for Tata AIA's other ULIPs (like Smart Fortune Plus) — treat exact benefit-option names and formulas as indicative, not confirmed, until you see the current official brochure.
- 'Zero allocation charge' still leaves fund management and mortality charges in place; ask for the full charge schedule.
- 5-year lock-in applies; Morningstar-style fund ratings can and do change, so don't treat a rating seen in marketing material as permanent.
- The direct brochure PDF wasn't accessible during this research; this description is built from the insurer's own product page plus aggregator research.
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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ULIP
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I Systematic Insurance Plan
A unit-linked plan sold in two variants — iSIP Wealth (general wealth building) and iSIP Young Genius (child-focused) — offering 24 fund choices, zero allocation/admin charges, and a distinctive feature that refunds mortality charges from the 11th year onward.
You might need this if
- You want a ULIP with a genuinely wide fund shelf — 24 options spanning equity, balanced, and fixed-income risk levels — to build a portfolio inside one policy.
- You want the insurer's mortality charges eventually returned to you: from the 11th policy year, previously deducted mortality charges are added back as extra units, refunded in full by maturity.
- You're saving specifically for a child's future — iSIP Young Genius keeps the policy (and the child's future fund) going even if the parent-policyholder dies, since the insurer takes over premium funding.
- You want zero premium allocation and zero policy administration charges, so more of every rupee goes toward your investment from day one.
- You're a woman investor — a Smart Lady Benefit adds a small extra allocation (0.50% of annualised premium) purely for being a female policyholder.
How it actually works
- Choose iSIP Wealth (entry age from 30 days) for general wealth creation, or iSIP Young Genius (entry age 18+, for the parent, benefiting a child) with policy terms of roughly 10-40 years.
- Charges: nil premium allocation charge, nil policy administration charge; fund management charges range 0.65%-1.35% p.a. depending on fund; a discontinuance charge applies only if you stop premiums within the first 5 years.
- Death benefit (iSIP Wealth): nominee gets the highest of basic sum assured, fund value, or 105% of total premiums paid, and the policy ends. Death benefit (Young Genius): the child's policy continues with the insurer funding future premiums, after an immediate lump-sum payout to the nominee.
- From the 11th policy year, mortality charges deducted so far are progressively credited back as bonus units — a full refund mechanism by maturity, not typical of most ULIPs.
- Wealth Boosters add 1.00%-2.50% of average fund value every 5 years from year 10 onward, scaled to your premium tier.
- Minimum premium is low for entry — ₹1,200/year for iSIP Wealth regular pay (₹6,000/year for Young Genius), or ₹1,000 for single pay — with a wide range of optional riders (health, accidental death, waiver of premium) available on top.
Worked example
From Tata AIA's own brochure: a 30-year-old paying ₹1,00,000/year for 10 years (₹10 lakh total invested) with a ₹10 lakh life cover is projected to reach a fund value of about ₹55 lakh if funds grow at an assumed 8% p.a., or roughly ₹20.8 lakh at a more conservative assumed 4% p.a. — both figures are illustrative, not guaranteed, and net of the plan's charges.
The tiers
| Charge type | Amount |
|---|---|
| Premium allocation charge | Nil |
| Policy administration charge | Nil |
| Fund management charge | 0.65%-1.35% p.a. (by fund) |
| Discontinuance charge (year 1, regular pay) | 5%-20% of premium (capped ₹3,000-6,000) |
| Discontinuance charge (after year 5) | Nil |
Worth knowing
- Like all ULIPs sold in India, this plan offers no liquidity in the first 5 years — money discontinued early goes into a low-return 'discontinued policy fund' until the lock-in ends.
- If you stop premiums within 12 months of increasing your sum assured and then die by suicide, that increase is forfeited — read the suicide-clause wording carefully.
- Illustrated 8%/4% growth scenarios are standard IRDAI-mandated illustration bounds, not predictions — actual fund performance can fall outside this range in either direction.
- No policy loan facility is available on this plan, unlike some traditional insurance products.
ULIP
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Smart Sampoorna Raksha Supreme
A ULIP built around cost-refund mechanics — Tata AIA markets a full refund of premium allocation charges (paid back twice over) — plus 'boosters' designed to keep your cover from shrinking if fund performance dips.
You might need this if
- You're wary of ULIP charges eating into returns — this plan's headline feature is refunding premium allocation charges back to you, and doing so twice over the policy term, according to the insurer.
- You want protection against a common ULIP risk — cover lapsing or shrinking if fund value underperforms — via what Tata AIA calls 'Cover Continuance Boosters'.
- You want more than one way to draw an income from the policy after lock-in — the plan offers systematic, chosen-rate, and index-based withdrawal strategies rather than one fixed method.
- You want flexibility at maturity — take the fund value as a lump sum, or spread it over a 5-year settlement period instead.
- You want loyalty-based fund boosts for staying invested long-term, with additions starting from the 11th policy year.
How it actually works
- Standard ULIP entry: choose a sum assured and premium, and your money (after charges) is invested across Tata AIA's equity, balanced, and debt fund range with free switching between them.
- Allocation charges deducted from your premiums are credited back to your fund at specified policy milestones — described by the insurer as a refund of up to twice the total allocation charges over the term.
- Cover Continuance Boosters are designed to top up the fund/cover if performance lags, helping avoid a shortfall in the life cover component.
- After the lock-in, you can choose to draw money via a Systematic Withdrawal Plan (fixed % per year), a Chosen-Rate Plan (withdraws based on fund outperformance), or an Index-Based Plan (linked to a market index's performance).
- Loyalty additions are credited from the 11th policy year onward, adding extra units to reward continued investment.
- At maturity, choose a lump-sum payout or spread the proceeds over a 5-year settlement period instead of taking it all at once.
Worth knowing
- 'Refund of allocation charges' is a marketing framing for a specific unit-crediting mechanism — the exact percentages, trigger years, and conditions weren't accessible during this research; get the precise schedule from the official brochure or an advisor.
- 5-year ULIP lock-in and market-linked, non-guaranteed fund performance apply as with any ULIP.
- The withdrawal strategies (systematic/chosen-rate/index-based) have different risk/return trade-offs — understand each before selecting one, since the choice affects how long your money lasts.
- The official brochure PDF (linked) could not be opened directly during this research due to the insurer's site blocking automated downloads; details are cross-checked against multiple aggregator summaries of the same document — confirm exact figures before buying.
ULIP
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Shubh Muhurat
A goal-based ULIP marketed specifically for parents saving toward a child's wedding, built by combining Tata AIA's Fortune Guarantee Secure and Smart Fortune Plus products with payout timing designed around wedding milestones.
You might need this if
- You're a parent starting to save years ahead for a child's wedding and want a plan explicitly framed around that goal, rather than a generic savings product.
- You want payouts that can be timed to arrive around wedding-related milestones rather than a single lump sum at an arbitrary maturity date.
- You want life cover in place throughout the saving period, so the goal is still funded even if you're not there to keep contributing.
- You want your family's payout protected from creditors — the plan includes an MWPA (Married Women's Property Act) benefit option to ring-fence proceeds for named beneficiaries.
How it actually works
- Structurally, this plan combines two existing Tata AIA products — Fortune Guarantee Secure and Smart Fortune Plus — under one wedding-savings goal, rather than being a single ground-up new product.
- Premiums are invested across Tata AIA's fund range (e.g. Multi Cap, India Consumption, Top 50, and other equity/debt options) chosen to match your time horizon to the wedding.
- Payouts can be structured to land around planned milestones (e.g. as the wedding date approaches) instead of a single maturity lump sum, per the insurer's positioning.
- Life cover runs through the policy term; if the policyholder-parent dies, the plan's death benefit mechanics (per the underlying product combination) support the goal continuing.
- A Benefit Protect rider can waive future premiums during specified hardship events, keeping the wedding fund on track.
- As with any ULIP, there is no liquidity in the first 5 years — no partial or full withdrawal is possible in that window.
Worth knowing
- This is a repackaging of two existing ULIPs around a wedding-savings theme — check exactly which underlying product (Fortune Guarantee Secure vs Smart Fortune Plus terms) applies to your policy, since eligibility, charges, and fund options follow that product's actual documentation.
- 5-year mandatory lock-in with no liquidity, as with any Indian ULIP.
- Specific eligibility ages, premium minimums, and exact charge figures weren't accessible during this research — the picture above is a structural description, not a confirmed numbers-level fact sheet.
- 'Wedding milestone' payout timing is a marketing framing; get the actual payout schedule and any conditions in writing before assuming it lines up with your planned wedding date.
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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ULIP
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Term Plan with Market-Linked Returns
A category label on Tata AIA's own site for its 'term cover plus market-linked investing' plan family (the same family that includes Param Raksha Life Pro/Pro+/Maxima+) rather than one single distinctly-named product.
You might need this if
- You searched for a 'term plan with market-linked returns' and want to know this isn't a single stand-alone product at Tata AIA — it's the insurer's umbrella positioning for its Param Raksha Life-style bundled plans.
- You want the core idea such plans offer: life insurance protection plus an investment component that can grow with markets, in one policy, instead of buying term insurance and a mutual fund SIP separately.
- You're comparing this category against pure term insurance and want to understand the trade-off before choosing a specific named plan (e.g. Param Raksha Life Pro, Pro+, or Maxima+) within it.
How it actually works
- On Tata AIA's site, this label routes to their 'Term + Wealth' plan family — in practice, you'd end up buying one of the specifically-named plans (like Param Raksha Life Pro or Param Raksha Life Pro+), not a product literally called 'Term Plan with Market-Linked Returns'.
- Generic mechanics of this plan family: a portion of your premium funds life cover, and the rest is invested in market-linked funds you choose, with fund value growing (or falling) based on market performance.
- Death benefit typically combines a lump-sum life cover payout with the fund value; maturity benefit is the accumulated fund value, since these are structured as ULIPs with life-cover.
- Standard ULIP charges apply — fund management, mortality, and (if applicable) discontinuance charges — on top of the invested premium.
Worth knowing
- If you're comparing this to Param Raksha Life Pro/Pro+/Maxima+ elsewhere in this reference, note they may well be the actual products behind this label — check for duplicate research rather than treating this as a wholly separate plan.
- Blending term insurance and investing in one product usually costs more in fees than buying pure term cover and investing the difference separately — run the comparison for your own goals.
- Specific eligibility, premium, and charge figures for a distinctly-named product under this exact title weren't found — treat the bullets above as describing the general category, not a confirmed single product's terms.
- Always confirm with Tata AIA or an advisor exactly which named plan you'd be buying under this heading before signing anything.
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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Savings
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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
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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
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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
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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
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Capital Guarantee & Immediate Income Solution
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
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Capital Guarantee Solution
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
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Capital Guarantee & Income Solution
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.
Full page →
Retirement
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Smart Pension Secure
A unit-linked (market-linked) pension plan where you build a retirement corpus across equity/debt fund choices, then use the fund value at vesting to buy an annuity or take part of it as a lump sum.
You might need this if
- You want to build a retirement corpus with equity exposure rather than a fixed-return-only pension plan
- You want flexibility to switch between 8 fund options (100% debt to 100% equity) as your risk appetite or life stage changes
- You may need occasional access to funds before retirement - the plan allows limited partial withdrawals after 5 years
- You want the option to postpone your vesting date if you're not ready to retire at the originally chosen age
How it actually works
- Entry age 35-75 (single/limited pay) or 35-65 (regular pay); vesting age 45-85 (single/limited pay) or 45-75 (regular pay)
- Minimum premium around ₹10,000/year; choose Single Pay, Limited Pay (5 yrs up to vesting-minus-entry-age) or Regular Pay (10-40 yrs)
- Money is invested across 8 fund options ranging from fully debt to fully equity, with free fund switching
- At vesting, the fund value (at prevailing NAV) is used to buy an annuity, with up to 60% allowed as a lump-sum commutation
- Death benefit is the higher of the fund value or 105% of premiums paid, plus any top-ups
- Partial withdrawals (up to 25% of fund value, minimum ₹6,000) are permitted after year 5, capped at 3 times over the policy term
Worked example
A published calculator example for a 55-year-old investing ₹20 lakh suggests needing to save around ₹14,300/month to target a corpus generating roughly ₹77,300/month pension at retirement - but this assumes a 15% return rate that the plan does not guarantee.
Worth knowing
- This is market-linked - unlike some other Tata AIA pension plans, there is no guaranteed return here; your eventual pension depends heavily on fund performance
- Illustrations using 8% or higher growth assumptions are scenarios, not promises - actual returns can be lower (or negative in bad years)
- Discontinuing premiums during the lock-in period means you get the fund value only after charges are deducted, which can be less than what you paid in
- A suicide exclusion in the first 12 months limits the payout to fund value less certain charges
Retirement
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Fortune Guarantee Pension
A guaranteed, non-market-linked pension/annuity plan (individual or group) offering several annuity structures, including options that return your full purchase price to your nominee on death.
You might need this if
- You want a pension income that's fixed and guaranteed at purchase, not dependent on markets
- You want the reassurance that your purchase price (or a return of it) goes to your family if you pass away, depending on the option chosen
- You're buying this for a group (e.g., employees) - the plan supports group purchases of 5+ members
- You want flexibility in how deferred your income starts, and in payout frequency
How it actually works
- Entry age starts at 30, going up to 84-85 depending on which of the plan's four annuity options you pick
- Choose Single Pay (1-10 year deferment) or Regular/Limited Pay (5-12 year premium term, with deferment tied to that term)
- Four annuity structures: Immediate Life Annuity, Immediate Life Annuity with Return of Purchase Price, and two Deferred Life Annuity variants (with optional return of purchase price)
- Minimum annuity amounts apply by frequency (roughly ₹1,000/month up to ₹12,000/year) - a floor below which you can't structure payouts
- No stated maximum purchase price, subject to Tata AIA's underwriting policy, so larger retirement corpora can be annuitized
- Top-up premiums allowed to boost your eventual annuity amount
Worth knowing
- Because it's a guaranteed annuity, once you commit your purchase price the rate is locked in - you don't benefit from any future rate rises on that money
- Return-of-purchase-price options generally pay a lower ongoing annuity than options without that feature - it's a trade-off, not free
- Some options remain subject to underwriting depending on entry age and health, so issuance isn't automatic
- Tax treatment of annuity income follows prevailing law at the time you receive payouts, which can differ from when you bought the plan
Retirement
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Saral Pension Plan
A standardized, IRDAI-mandated single-premium immediate annuity plan that converts a lump sum into a guaranteed income for life, with your full purchase price returned to your nominee on death.
You might need this if
- You have a retirement lump sum (PF withdrawal, gratuity, savings) and want to convert part of it into a guaranteed lifetime income
- You want a simple, standardized product - "Saral Pension" is a common structure IRDAI requires most insurers to offer, so it's easy to compare across companies
- You want your invested purchase price protected and paid to your family when you die, not lost to the insurer
- You may want to cover a spouse too, via the joint-life option
How it actually works
- Single premium only - you pay once as a lump sum; entry age typically 40-80 years (down to 70 for point-of-sale purchases)
- Two structures: Life Annuity with Return of Purchase Price (income for your life, 100% of purchase price returned to nominee on death), or Joint Life Last Survivor Annuity with Return of Purchase Price (income continues until both spouses have passed, then purchase price returned)
- Choose payout frequency: monthly, quarterly, half-yearly, or annual, with minimum payouts from about ₹1,000/month up to ₹12,000/year
- The annuity rate is locked in at purchase and guaranteed for life - it doesn't change with markets afterward
- A special early-surrender allowance applies if you, your spouse, or a child is diagnosed with a specified serious illness (typically after 6 months)
Worked example
Illustrative published figures suggest that a larger lump sum (on the order of the monthly-equivalent of roughly ₹10,000 in a comparable investment) could translate to a pension in the ballpark of ₹1.5 lakh/month at higher purchase amounts - these are example ratios from published illustrations, not a promise for any specific amount; actual annuity rates depend on age, option, and prevailing rates at purchase.
Worth knowing
- Once you buy, the annuity rate is locked for life - if interest rates rise later, you can't get a better rate on that money
- Since it's a single-premium product, all your capital goes in upfront - there's no way to top up gradually
- Early exit outside the serious-illness allowance is generally not possible - annuity plans like this are illiquid by design
- Annuity income is taxable as per your income slab in the years you receive it
Retirement
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Shubh Flexi Pension
A flexible annuity plan that splits your pension into a guaranteed fixed portion and a variable portion linked to Nifty 50 performance, letting you dial up or down how much market exposure you want in retirement.
You might need this if
- You want a pension that's not entirely fixed - you're comfortable with some Nifty-linked upside (and downside) potential in exchange for possibly higher long-run income
- You want to choose how much of your pension is guaranteed vs. variable (options typically let you set the guaranteed portion at 60-90%)
- You want flexibility between starting income immediately or deferring it (up to 20 years)
- You may want to cover a spouse or ensure your premiums come back to your family, via the return-of-purchase-price options
How it actually works
- Entry age roughly 30-85 (point-of-sale variants around 40-70); choose Single Pay or Regular/Limited Pay (roughly 2-12 years), with a deferment period of 1-20 years
- Five annuity options ranging from a simple Immediate Life Annuity to variants with Return of Purchase Price, and two "variable" options that add Nifty 50-linked income on top of a guaranteed base
- The guaranteed annuity portion is fixed at purchase; the variable annuity portion is recalculated periodically (e.g., quarterly) against an assumed interest rate benchmark, so it can rise or fall with markets
- Minimum annuity around ₹1,000/month or ₹12,000/year; payout frequency choices include monthly, quarterly, half-yearly, annual
- Under variable options, death benefit generally returns 100% of premiums paid to your nominee; under simpler options it can be lower (50-100%) or nil
- A policy loan (up to 80% of surrender value) is available after one year on most options
Worked example
One published illustration for a 50-year-old contributing ₹12 lakh/year for 10 years (₹1.2 crore total) shows a starting pension around age 60 of roughly ₹5.17 lakh/year guaranteed plus ₹5.30 lakh/year variable (about ₹10.47 lakh/year combined) - projected, under an assumed 14% Nifty CAGR (not guaranteed), to grow to around ₹21.37 lakh/year by age 80.
Worth knowing
- The variable annuity portion can go down as well as up - it isn't a guaranteed income stream, only the "guaranteed" share is
- Illustrations using double-digit CAGR assumptions for the variable portion are optimistic scenarios, not promises
- Death benefit generosity (50% vs. 100% of premiums) depends heavily on which of the five options you pick at outset - a cheaper option may leave your nominee less protected
- This card draws on a third-party pension-plan summary rather than Tata AIA's own brochure PDF, which wasn't directly retrievable - confirm current terms with an official 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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