Smart Lifelong Plan

Individual, Linked Life Insurance cum Savings Plan

"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“Version: Nov’19

Key Benefits

Long Term Protection : life coverage till 99 years of Life Assured’s age

Flexibility of Premium Payment Term : choose a Premium Paying Term (10 years or more) to suit one’s earning capacity

Investment Funds: invest in up to seven fund options - ranging from 0% to 100% equity exposure, to match one’s appetite towards investment risks and returns

Auto Funds Rebalancing Option (AFR): maintain allocation of savings in a specific proportion across funds, irrespective of market movements

Premium Paying Mode : flexibility to choose annual or monthly mode to pay premiums as per requirement or to suit income stream

Loyalty Additions during Policy Term as additional allocation of units to boost investments

Flexibility of Switching and Redirection between fund options to take advantage of market movements or change in risk preference

Liquidity to take partial withdrawals to help meet unplanned contingencies or meet changing needs of family

Tax benefits on Premiums paid and benefits received during Policy Term under Section 80C and Section 10(10D), as per Income Tax Act, 1961, as amended from time to time

Product Features Boundary Conditions

Age at Entry 7 years 65 years

99- Entry AgePolicy Term

Min: ₹ 25,000 (Annual Mode)

₹ 3,000 (Monthly Mode)

Annual & Monthly Modes available

At policy anniversary

immediately after Life Assured‘s 99th

b’day years

Premium Payment Term

Min: 10 years

Max: 99-Entry Age

Maturity

*Please note that it is mandatory to pay first 3 month’s premium in advance if monthly mode of premium payment is chose

choose any premium paying term from 10 years onwards

Entry Age < 45 years

(0.5 x T x Annualized Premium#)

Entry Age 45 & Above

Between 7 to 10 times of Annualized Premium#Sum Assured

T= 70 – Entry Age

Product Feature Boundary Conditions – Sum Assured

#Annualized premium means the amount of premium payable in a policy year that is selected by the Policyholder at the inception of Policy

Sum Assured limits mentioned above are subject to underwriting acceptance as per Board Approved Underwriting Policy of the Company

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 …. …. 59

Assumption • Entry Age : 40 years• Premium Payment Term : 15 years• Policy Term : 59 years

Premium Payment Term of 15 years

Product BenefitsLoyalty Additions

Loyalty addition• 1.25% of average fund value of last 36 monthly policy anniversaries• At the end of 10th policy year & at the end of 15th policy year• Twice in policy term• Paid in form of extra allocation of units to fund, provided that all due premiums till date

have been paid

Age40 yrs

Age99 yrs

Fund Names

Emerging

Leaders

Equity Fund

India Multi-

Cap Equity

Fund

Equity II

Fund Growth

Plus

Balanced

Plus Debt Plus Liquid

Min Max Min Max Min Max Min Max Min Max Min Max Min Max

Compon

ents

Equity 60% 100% 60% 100% 60% 100% 50% 90% 30% 70% - - - -

Debt

Securities - - - - - -

10% 50%30% 70% 60% 100% 0% 60%

Money

Market 0% 40% 0% 40% 0% 40%

0% 40%0% 40% 0% 40% 40% 100%

Risk Profile High High High Medium to

HighMedium

Low to

Medium Low

• Allocate premiums to any, all or a combination of the funds as per risk preference

• Choice of 7 funds with 0% to 100% equity exposure for investment funds• Flexibility to switch percentage of existing fund between other funds and

adjust the investment portfolio through switching option

Product BenefitsInvestment Fund options

50% 50%

50% 50% 50% 50%

75%25% 25%

75%

10 Dec

10 Jun’19

Equity II Fund

Balanced + Fund

Above details are based on assumptions only, customer can select this Option at inception or any time later with minimum of 2 funds.

10 Sept’19 10 Dec’19

Product BenefitsAuto Fund Rebalancing

• Allocate investments in specific proportion across funds, irrespective of market movements• Once opted, after every 3 months, it automatically rebalances allocation of investments in

various funds to the allocation proportions opted for

• Avail this option at inception or at any time later during the Policy Term

• In case of partial withdrawal, AFR will be applicable on the balance of the Fund Value remaining in Policy after withdrawal

• Automatic switches in order to affect the auto rebalancing into the chosen allocation proportions will not be counted as switch

> For more details on Auto Fund Rebalancing, refer to product brochure available on company’s website

Product BenefitsAuto Fund Rebalancing –Conditions

Switch from one Unit Linked Fund to another at any point of time during Policy Term

Minimum Switch Amount : Rs. 10,000/-

First 6 switches in any given Policy Year will be free of charge and subsequent switches will attract a switching charge as given in Charges section

Any unused switches cannot be carried forward to subsequent Policy Years during Policy Term

No limit on number of switches made in a Policy Year

Product BenefitsSwitching Facility

Switch either a percentage of investments or an absolute amount

At anytime during Policy Term, option to change allocation proportion of future Premiums into one or more Unit Linked Funds

Allowed only once in a Policy Year and is free of cost

Revised allocation proportion will apply to subsequent Premiums

In case this option is not availed, it cannot be carried forward to the next Policy Year

Product BenefitsPremium Redirection Facility

Alter Sum Assured based on protection needs, from the 6th Policy Year, provided due Premiums have been paid

There will be no change in Premium amount as a result of the increase or decrease in Sum Assured

This flexibility is available once every Policy Year subject to a maximum of three times during the Policy Term

Option to increase the Sum Assured is not available where Life Assured is minor or above 50 years of age

Increase/decrease in Sum Assured is subject to Underwriting acceptance and minimum and maximum Sum Assured limits stipulated under this plan and may result in increase or decrease in mortality charges depending on the nature of the request

Request for any alteration in Sum Assured will be effective only from Policy anniversary following the date on which policyholder have made the request, subject to such request being made at least 60 days prior to Policy anniversary

Product BenefitsIncrease or Decrease of Sum Assured

Product FeaturesPartial Withdrawal Benefits

Allowed from 6th Policy Year or completion of 18years, which ever is later

4 Partial withdrawals free in a policy year. Rs. 250/- per withdrawal then onwards

Minimum Partial withdrawal is Rs. 10,000/- (all partial withdrawals to be in multiple of 1000)

Maximum Partial withdrawal* is subject to Fund value, not being lesser than 120%

Annualized premium post Partial Withdrawal

4

Partial Withdrawal Benefit

*Cap on maximum partial withdrawal has been kept with the view to avoid those partial withdrawals which would result in immediate termination of policy

In case the Life Assured survives the policy term, policyholder will receive Fund Value based on the closing NAV of the maturity date

1 2 3 4 5 … 10 … 15 … 30 … 59

Premium Paid by policyholder

Product BenefitsMaturity Benefit

Fund Value at Policy Anniversary & Policy gets

terminated

Life Assured‘s 99th b’day

AssumingEntry Age : 40 years

Policy Term : 59 years (99-40)

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 … 20 … 59

Premium Paid by Policyholder

Higher of1. Sum Assured less Partial Withdrawals if any, made

during 2 year period immediately preceding the death of life assured

2. 105% of (all the Premiums paid till the date of death)

3. Fund Value, if any, as on date of intimation of death claim

Death

Immediate Lump Sum Payment On Death

Product BenefitsDeath Benefit

AssumingEntry Age : 40 years

Policy Term : 59 years (99-40)

Product BenefitsDeath Benefit in Discontinuance State or Paid-Up State

• Proceeds of Discontinued Policy Fund will be payable

Discontinuance state due to non-payment of Premium before the end of Lock-in Period

Reduced Paid-up state* after Lock-in period

• Higher of the following will be payable1. Paid-up Sum Assured** less partial withdrawals, if any, in the preceding two years, or2. Fund Value as on date of intimation of death claim, or3. 105% of all Premiums paid up to date of death

*Reduced Paid-up state - state of the policy attained due to non-payment of due premium after completion of Lock-in Period, wherein the policy continues in this state till the end of the Revival Period unless revived, with the risk cover and charges continuing as per the terms and conditions of Policy**Paid-up Sum Assured is the amount calculated as Sum Assured multiplied by the total number of premiums paid divided by the total number of premiums payable during the Policy Term. Policy shall terminate after payment of any of death benefit

• Premium paid under this product are eligible for Tax deduction as per the rule of section 80C of Income Tax Act, 1961

• Maturity and death benefits received will be eligible for tax benefits u/s 10.10(D) of Income Tax Act, 1961

For tax related queries, contact your independent tax advisor

Product BenefitsTax Benefit

Surrender during Lock-in Period

• If the Policy is surrendered within the first 5 Policy Years, surrender value (Fund Value less applicable surrender charges) will be transferred to the Discontinued Policy Fund and will earn at least a minimum guaranteed interest rate of 4% per annum or as prescribed by IRDAI from time to time

• Proceeds of discontinued Policy will be paid only after completion of 5th Policy Year

• If the Policy is surrendered after completion of 5th Policy Year, Fund Value will be paid immediately

• On such payment risk cover will cease and Policy will terminate and cannot be revived thereafter

Surrender after Lock-in Period

Fund Name Fund Philosophy Asset Allocation*Risk

Profile

DiscontinuedPolicy Fund^

To generate reasonable returns on funds from discontinued policies determined in accordance with

Regulations

Equity

LowGovt.

Securities60%-100%

Money Market 0%-40%

^ Only available in case of Discontinuance/ Surrender of a Policy during the first five Policy Years

Product FeatureSurrender

• Until expiry of Grace Period, Policy is deemed to be in-force with benefits and applicable charges continuing as per terms and conditions of Policy

• If due Premium is not received by expiry of Grace Period, Fund Value less applicable Discontinuance Charges will be transferred to the Discontinued Policy Fund (DPF) and risk cover under the Policy will cease

• On such Discontinuance, Company will communicate the status of Policy within 3 months of the first unpaid premium, to policyholder and provide option to revive the Policy within Revival Period of 3 years

I. In case Policyholder opts to revive but does not revive Policy during Revival Period• Proceeds of DPF will be paid to the Policyholder at the end of Revival Period or Lock-in Period

whichever is later and Policy will terminate upon such payment• In respect of Revival Period ending after Lock-in Period, Policy will remain in DPF till the end

of Revival Period• Fund Management Charge (FMC) of DPF will be applicable during this period and no other

charges will be applied

II. In case Policyholder does not exercise the option as set out above• Policy will continue without any risk cover and the policy fund will remain invested in the DPF.

At the end of the Lock-in Period, the proceeds of the DPF will be paid to the Policyholder and the Policy will terminate

III. Policyholder has an option to surrender Policy anytime and proceeds of discontinued policy will be payable at the end of Lock-in Period or date of surrender whichever is later

Product FeatureDiscontinuance of Policy during Lock-in Period

• Until the expiry of Grace Period, the Policy is deemed to be in-force with benefits and applicable charges continuing as per terms and conditions of the Policy

• If due Premium is not received by expiry of Grace Period, Policy will be converted into a Reduced Paid-up Policy with the Paid-up Sum Assured

• Policy will continue to be in Reduced Paid-up status. All applicable charges as per terms and conditions of the Policy will be deducted during Revival Period

• Upon such Discontinuance, Company will communicate status of the policy within 3 months of the first unpaid premium, to Policyholder and provide following options:

1. Revive the Policy within a Revival Period of three years.

2. Complete withdrawal of the Policy

I. In case Policyholder opts to revive (Option 1) but does not revive Policy during Revival Period• Fund Value will be paid to Policyholder at the end of Revival Period or at the end of

Policy Term, whichever is earlier and Policy will terminate upon such paymentII. In case Policyholder does not exercise the option as set out above

• Policy will continue to be in Reduced Paid-up status • Fund Value will be paid to the Policyholder at the end of the Revival Period or at the end

of the Policy Term, whichever is earlier and Policy will terminate upon such paymentIII. Policyholder has an option to surrender the Policy anytime and Fund Value will be payable

Product FeatureDiscontinuance of Policy after Lock-in Period

Revival can happen if Policyholder opts for “Revival Option” on receiving the notice

In case of Discontinuance of Policy due to non- payment of due premium(s), Policyholder can apply for revival of such a Policy by paying all due and unpaid Premiums, within Revival Period of 3 consecutive years from the date of first unpaid premium

Company reserves the right to revive Policy either on its original or modified terms and conditions or reject the revival as per its Underwriting decision

At the time of revival, the Company will:

o Collect all due and unpaid Premiums without charging any interest or feeo Levy Premium allocation charges and Policy administration charge as applicable during

discontinuance periodo Add back to the Fund Value, discontinuance charges deducted at the time of discontinuance

of Policy (applicable for policies discontinued during the Lock-in Period)

Post revival, original risk cover will be restored in accordance with terms and conditions of policy

Product FeatureRevival

> For more details on Revival, refer to product brochure available on company’s website

Charges

All charges are exclusive of Goods and Services Tax & applicable cess (es)/levy, if any, as applicable and amended from time to time which will be borne by the Policyholder

Product FeatureCharge Structure

Premium Allocation Charge

(% of Annualized premium)

Annual Mode6.40%

Year 2 & 3

5.40%

Year 4 to 10

8.40%

Year 1

Policy Admin Charge (% of Annualized premium)

0.05% p.m.

Year 1-5

0.06% p.m.

Year 6-10 Admin charges will be escalated by 20% at interval of every 5 years. That is at the beginning of the 11th policy year it will be revised to 0.72% * 1.20, so on till end of term. At all point in time there will be a cap of Rs. 500 on the monthly admin

charge

Emerging Leaders, India Multi Cap,

Equity II, Growth +, Balanced +, Debt+

1.35% p.a.

Fund Management Charge

(% of Fund Value)

Liquid 0.80% p.a.

Discontinued Policy fund 0.50% p.a.

Monthly Mode5.00% 5.00%7.25%

• Deducted on daily basis from Fund before calculation of the NAV

Year 11 onwards

NIL

Switching Charge

• First 6 switches in a Policy Year are free of charge

• Rs. 250 per switch for more than 6 switches

• Any unutilized free switch(s) cannot be carried forward to the next Policy Year

All charges are exclusive of Goods and Services Tax & applicable cess (es)/levy, if any, as applicable and amended from time to time which will be borne by the Policyholder

Product FeatureCharges

Mortality Charge

• Depends on the Life Assured’s age and Sum at Risk (SAR)

• Deducted at the beginning of each Policy month by cancellation of units

Other Charges

• Partial Withdrawal Charge : Rs. 250 per withdrawal after 4 partial withdrawals in policy year

• Miscellaneous Charge will be recovered on account of medical expenses in case of increase in Sum Assured after policy issuance, subject to a maximum of Rs. 500

Policy is discontinued

during the policy year

Surrender/Discontinuance charges with annualized premium up to

₹ 25,000/-

Surrender/Discontinuance charges with annualized premium above

₹ 25,000/-

1Lower of 20% * (AP or FV) subject

to maximum of ₹ 3,000Lower of 6% * (AP or FV) subject to

maximum of ₹ 6,000

2Lower of 15% * (AP or FV) subject

to maximum of ₹ 2,000Lower of 4% * (AP or FV) subject to

maximum of ₹ 5,000

3Lower of 10% * (AP or FV) subject

to maximum of ₹ 1,500Lower of 3% * (AP or FV) subject to

maximum of ₹ 4,000

4Lower of 5% * (AP or FV) subject to

maximum of ₹ 1,000Lower of 2% * (AP or FV) subject to

maximum of ₹ 2,000

5 NIL NIL

(AP – Annualized premium; SP – Single Premium; FV – Fund Value)

• There will not be any Surrender/Discontinuance charges for a Surrender/Discontinuance request received by Company after 5th Policy anniversary or Policy is discontinued at least after five Policy Years

Product FeatureDiscontinuance Charge/Surrender charge

Sample Benefit Illustration

• Client Profile :

• Mr. Singh, age 40, is a Business Owner of a textile company

• Financial Goals :

• He is looking for an investment option with can provide returns of the stock market and help him fulfill life’s responsibilities as they come along

• Need Based Solution :

• He opts for Smart Lifelong plan and gets an added advantage of life coverage till 99 years for an uncompromised financial future for his family in his absence

• He chooses Sum Assured of 15 times the Annualized Premium and a premium paying term of 20 years

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 So on… 20 30 40 59Policy

Year

Policy Term

Fund Value @8%*:• Age 60 yrs: 38.14 lacs• Age 70 yrs: 70.00 lacs• Age 80 yrs: 1.28 Crs• Maturity: 4.08 Crs

Loyalty addition

Sample Benefit Illustration@8%*

Assumptions• Male : 40 yrs• Annual Premium (AP) : 1 lac• Sum Assured : 15 lacs [(70-40) x 0.5 x AP]

• Premium Payment Term : 20 years• Policy Term : 59 years (99-40)

• Mode of Premium : Annual• Investment Fund : 100% India Multi Cap

*Note : The assumed rates of return (4% p.a. or 8% p.a.) shown in the above illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy depends on a number of factors including future investment performance. The Fund Values shown in the above illustrative example are after deduction of all charges including applicable Goods and Services Tax & applicable cess (es)/levy, if any, as applicable (@18.00%).

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 So on… 20 30 40 59Policy

Year

Policy Term

Fund Value @4%*:• Age 60 yrs: 24.43 lacs• Age 70 yrs: 30.66 lacs• Age 80 yrs: 38.44 lacs• Maturity: 58.90 lacs

Loyalty addition

Sample Benefit Illustration @4%*

Assumptions• Male : 40 yrs• Annual Premium (AP) : 1 lac• Sum Assured : 15 lacs [(70-40) x 0.5 x AP]

• Premium Payment Term : 20 years• Policy Term : 59 years (99-40)

• Mode of Premium : Annual• Investment Fund : 100% India Multi Cap

*Note : The assumed rates of return (4% p.a. or 8% p.a.) shown in the above illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy depends on a number of factors including future investment performance. The Fund Values shown in the above illustrative example are after deduction of all charges including applicable Goods and Services Tax & applicable cess (es)/levy, if any, as applicable (@18.00%).

Annexure

• SAR, higher of:1. Sum Assured less Partial Withdrawals, in the preceding 2 years less Fund Value as on

that date, or2. 105% of the total premiums paid less Fund Value, or3. Zero

• For Reduced Paid-up policy, SAR will be higher of :1. Paid-up Sum Assured less Partial Withdrawals, in the preceding 2 years less Fund

Value as on that date, or2. 105% of the total premiums paid less Fund Value, or3. Zero

Sum at Risk (SAR) – Calculation of Mortality Charges

Paid-up Sum Assured

𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

𝑇𝑜𝑡𝑎𝑙 𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑦𝑎𝑏𝑙𝑒 𝑑𝑢𝑟𝑖𝑛𝑔 𝑝𝑜𝑙𝑖𝑐𝑦 𝑡𝑒𝑟𝑚× 𝑆𝑢𝑚 𝐴𝑠𝑠𝑢𝑟𝑒𝑑

Paid-up Sum AssuredCalculation

• Grace Period : a period of 30 days for Annual Mode of Premium payment and 15 days for Monthly Mode of Premium payment from the due date to pay the Premiums, during which life insurance cover will continue

• Revival Period : period of three consecutive complete years from the date of first unpaid premium during which period the Policyholder is entitled to revive the Policy which was discontinued due to the non-payment of Premium

• Lock-in Period: period of 5 consecutive completed years from the date of commencement of the Policy, during which period proceeds of the discontinued policies cannot be paid by insurer to Policyholder or to Life Assured, as the case may be, except in case of death

• Free-look period

• Policyholder has the right to cancel Policy within 15 days from date of receipt of Policy document, and period of 30 days in case of electronic policies and policies obtained through distance mode, in case he/she does not agree with any of terms and conditions of Policy

• If Policyholder cancels Policy during free look period, Company will refund Fund Value on the date of cancellation plus any non-allocated Premium amount plus any charge deducted by cancellation of units, after deducting proportionate risk premium for the period of insurance cover and expenses incurred on stamp duty and medicals (if any)

• Discontinued Policy Fund (DPF): means the segregated fund of the insurer that is set aside and is constituted by the fund value, as applicable, of all the policies discontinued during the Lock-in Period determined in accordance with IRDAI (Unit Linked Insurance Products) Regulations, 2019. The Company will levy only Fund Management Charge as mentioned in 'Charges' section.

• Minimum Guaranteed Interest Rate: This means the rate applicable to the Discontinued Policy Fund as declared by IRDAI from time to time. The current minimum guaranteed rate of interest applicable to the Discontinued Policy Fund is 4% per annum

Key Terms

• In case of death due to suicide within 12 months from date of commencement of Policy or date of revival of the Policy, Claimant shall be entitled to Fund Value as available on the date of intimation of death

• Any charges other than Fund Management Charges recovered subsequent to the date of death of the Life Assured shall be added back to Fund Value as available on the date of intimation of death

• Policy will terminate upon payment of such benefit amount

Suicide Exclusion

Thank You

"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“Version: Nov’19