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Smart Stage Money Back Plan is a traditional savings oriented money-back with-profit plan that helps you take care of your life’s key milestones such as children’s education/marriage, buying a home, planning post-retirement life, etc. This plan provides guaranteed money backs and maturity benefit along with life cover.BUY NOW
In the event of death of the life assured during the term of the policy, Death Benefit Sum Assured plus added annual bonus plus final bonus. Death Benefit Sum Assured is higher of 10 times the Annualized Premium or Sum Assured.
The total death benefit is subject to the minimum of 105% of the total premiums paid, till the date of death. The death benefit payable is irrespective of the money back benefit paid.
On survival of the life assured till maturity of the policy, 55% of Sum Assured plus Accumulated Annual Bonuses along with Final Bonus is payable.
Money Back Benefit
Guaranteed money back payouts of 15% of sum assured each is payable at the end of 4th, 8th & 12th policy year.
Bonuses are added in this plan and these are declared at the end of every financial year, depending on the company’s experience in the with-profit fund. When added to the policy, bonuses become guaranteed and to be paid on the earlier occurrence of death or maturity. Annual Bonus is added every year and it is a percentage of Sum Assured. This bonus is payable on maturity or death, whichever occurs earlier. Final Bonus is a percentage of Sum Assured.
No loan benefit is available under this plan.
This policy acquires a Guaranteed Surrender Value after paying at least three full policy years’ premium.
You can avail tax benefits as applicable under the Income Tax Act, subject to prevailing tax laws.
|Age (as on last birthday)||8 Years||55 Years|
|Age at Maturity||-||70 Years|
|Policy Tenure||15 Years||-|
|Premium Paying Term||11 Years||-|
|Premium Paying Mode||Annually & Monthly||-|
|Premium Amount||Depends On Minimum Entry Age And Minimum Sum Assured||No Limit|
|Sum Assured||Rs 1 Lac||No Limit (subject To Underwriting)|
|Freelook Period||15 Days From The Receipt Of The Policy||-|
|Grace Period||30 Days||-|
No riders can be opted under this plan.
Raman at 35 years, wants to buy Smart Stage Money Back Plan to get regular money backs along with life protection. He opts the plan with the policy term of 15 years and sum assured of Rs 5,00,000.
Scenario A: Raman Survives the Policy Term
If Mr. Raman survives till the maturity of the policy term, he receives Guaranteed money back payouts of Rs 75,000 (as 15% of sum assured) each is payable at the end of 4th, 8th & 12th policy year. He also receives Rs 2,75,000 plus Accumulated Annual Bonuses along with Final Bonus.
Scenario B: Raman dies during the Term of the Policy
In the event of demise of Mr. Raman during the policy term, Rs 5 Lacs plus added annual bonus plus final bonus is payable to the nominee.