IndusInd Nippon Life Smart Savings Insurance Plan

Eligibility Criteria for the IndusInd Nippon Life Smart Savings Insurance Plan

Features of the IndusInd Nippon Life Smart Savings Insurance Plan

Some of the key features of the IndusInd Nippon Life Smart Savings Insurance Plan include:

• This plan offers a choice between self-managed and auto-managed investment options, allowing you to control or automate your investments based on your preference.
• It provides flexibility in premium payments, where you can choose to pay for 5, 7, 10 years or throughout the policy term.
• The plan includes life insurance cover of at least seven times the annualised premium, ensuring financial protection for your family.
• It also offers loyalty additions and wealth boosters that help enhance fund value over the long-term.
• You can switch between funds and adjust your investment strategy based on market conditions and your changing financial goals.

If you want to explore more options from the same insurer, you can check other plans offered under Reliance Life Investment Plans to compare features and benefits.

Benefits of the IndusInd Nippon Life Smart Savings Insurance Plan

The IndusInd Nippon Life Smart Savings Insurance Plan offers both savings and protection benefits. It is suitable for individuals looking for long-term wealth creation along with life insurance coverage.

• Maturity Benefit: Once your policy is completed, the fund value will be paid out as a lump sum or as some form of systematic payouts according to your choice.
• Death Benefit: Even when the life assured in the policy is one of the three sums assured, the fund value and 105% of the total premiums paid will be offered to the nominee.
• Wealth Creation: The plan brings with it a chance to increase your investments by creating wealth based on market-linked returns, besides other perks such as loyalty additions and wealth boosters.
• Liquidity Benefits: You receive some benefits in the form of partial withdrawals after the lock-in period, to take up emergency funds.
• Flexibility: You can choose investment strategies and switch between funds to align with your financial goals over time.

*There are no riders attached to this plan*.

Policy Details of the IndusInd Nippon Life Smart Savings Insurance Plan

The policy details should be known because they guide you to make better decisions in using an IndusInd Nippon Life Smart Savings Insurance Plan.

1. Grace Period

   A grace period is provided after the premium due date, allowing you to continue the policy without immediate lapse.

2. Revival

   The policy can be revived within three years from the date of the first unpaid premium by paying all due premiums.

3. Free Look Period

   You can review the policy within 15 days (30 days for distance marketing) and return it if you are not satisfied.

4. Surrender

   You can surrender the policy; however, the fund value is payable only after completion of the five-year lock-in period.

5. Fund Switching

   The plan may switch funds and even switch investment strategies during the policy term.

You can also review different investment plans available in the market to choose an option that aligns with your long-term financial goals.

Exclusions Under the IndusInd Nippon Life Smart Savings Insurance Plan

Suicidal Cover: The benefit will be paid according to the terms of the policy in case the life insured dies of suicide during the period of 12 months after the commencement or the revival of the policy.