Plan Type
Individual • Non-Linked • Non-Participating
Smart Platinum Plus
Enjoy Regular Guaranteed Income with Life Cover
A limited-pay savings plan that turns disciplined premiums into assured income during your chosen payout years — while keeping your family protected the whole term.
- Independent & need-based advice
- Non-linked • Non-participating
- IRDAI-compliant distribution
What This Plan Is
Smart Platinum Plus is an individual, non-linked, non-participating savings plan archetype that:
- Provides life cover throughout the policy term
- Pays a regular guaranteed income during your chosen payout period
- Returns a fixed % of total premiums at maturity (per policy terms)
- Lets you pay for limited years and enjoy benefits for longer
Perfect for individuals who want predictable, non-market-linked income to support milestones like education, EMIs, lifestyle goals, or post-retirement comfort.
Key Highlights
Income Choices
Choose Life Income or Guaranteed Income (pick one).
Payout Flexibility
Yearly / Half-yearly / Quarterly / Monthly income options.
Pay for Fewer Years
Limited pay: 6 / 7 / 8 / 10 years (as available).
Maturity Boost
Fixed % of total premiums returned at maturity*.
Protection
Life insurance cover for the full policy term.
Optional Rider
Accident benefit (death / partial disability) available.
Tax
Potential benefits under Sec. 80C & Sec. 10(10D)**.
* Exact percentage and amounts depend on the selected insurer’s approved terms.
** Tax treatment depends on individual eligibility. Please consult your tax advisor.
Two Income Plan Options
Choose how you’d like to receive your guaranteed income during the payout years.
🟡 Life Income
Fixed Guaranteed Income + Lump-Sum Death Benefit
- What you get: A fixed guaranteed income every period during the payout years (yearly/half-yearly/quarterly/monthly).
- Protection: If the life assured dies during the term, the Sum Assured on Death is paid as a lump sum and the policy ends.
📌 Good for: Those who want straightforward income now, with a clear lump-sum for family if something happens.
🟡 Guaranteed Income
Fixed Guaranteed Income + Continued Payouts to Nominee
- What you get: A fixed guaranteed income every period during the payout years (yearly/half-yearly/quarterly/monthly).
- If death after payout begins: Nominee receives the Sum Assured on Death and continues to receive the remaining guaranteed incomes for the balance payout period (or can opt for a discounted lump-sum, if allowed).
📌 Good for: Families who prefer income continuity for nominees, not just a single lump-sum.
We’ll show your exact figures (income per year, maturity amount, death benefit) in a personalized benefit illustration—no guesswork.
How It Works — In 6 Simple Steps
A clear, no-pressure path from choosing your plan to receiving guaranteed income and maturity benefits.
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1
Choose Premium & Mode
Select your annual premium and payment mode (yearly or monthly).
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2
Pick Pay Term
Choose how long you’ll pay: 6 / 7 / 8 / 10 years.
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3
Select Payout Period
Decide your income years (e.g., 15 / 20 / 25 / 30 years – varies by option).
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4
Choose Income Option
Life Income or Guaranteed Income, then pick income frequency (yearly / half-yearly / quarterly / monthly).
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5
Pay → Receive Income
Pay for the chosen years, then receive fixed income during the payout period.
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6
Maturity Benefit
At the end of the policy term, receive the maturity amount as per plan terms.
Policy Term = Premium-Pay Term + 1 year + Payout Period (structure may vary by insurer).
Plan Benefits — Clear and Assured
Understand how Smart Platinum Plus secures your income, maturity, and family protection.
💰 Survival / Income Benefit
Receive guaranteed periodic income during your chosen payout period — yearly, half-yearly, quarterly, or monthly.
🎯 Maturity Benefit
At the end of the policy term, a fixed percentage (for example, up to 110% of total premiums paid) is returned — ensuring a planned lump-sum at maturity.
*Exact % and conditions depend on the selected insurer’s approved terms.
🕊️ Death Benefit
- Life Income: Sum Assured on Death is paid as a lump sum and the policy ends.
- Guaranteed Income (before payout starts): Sum Assured on Death is paid as a lump sum and the policy ends.
- Guaranteed Income (after payout starts): Sum Assured on Death is paid as a lump sum, and the nominee continues to receive remaining guaranteed incomes (or may opt for a discounted lump sum if available).
✅ All benefits apply for in-force policies with regular premium payments as per plan terms and insurer guidelines.
Eligibility & Parameters
Key limits and choices for Smart Platinum Plus. Exact availability may vary by insurer and channel.
| Parameter | Minimum | Maximum |
|---|---|---|
| Entry Age | 30 days* | 60 years** |
| Maturity Age | — | 99 years** |
| Premium-Pay Term | 6 / 7 / 8 / 10 yrs | — |
| Payout Period | 13 / 15 / 20 / 25 / 30 yrs† | — |
| Premium Mode | Yearly / Half-Yearly / Monthly | — |
| Annual Premium | ₹50,000 | No preset cap (UW) |
| Basic Sum Assured | As per premium multiple | As per UW |
- * Minor policies vest at 18; risk starts from inception as per rules.
- ** Limits may vary by channel/insurer.
- † Combinations depend on the chosen option and pay term.
Practical Extras & Policy Provisions
Flexibility and real-world convenience built into your plan — because life doesn’t always go exactly as planned.
🧩 Reduced Paid-Up
If you stop after at least one full year, the policy continues with reduced guaranteed benefits.
💸 Surrender Value
Eligible after required premiums are paid — receive the higher of GSV or SSV as per insurer rules.
🏦 Policy Loan
Borrow up to ~50–80 % of surrender value (allowed per insurer guidelines).
🔄 Revival
Revive within 5 years from first unpaid premium (subject to underwriting and interest rate rules).
⏰ Grace Period
30 days for Yearly / Half-Yearly or 15 days for Monthly premiums.
📝 Free-Look Period
30 days from receiving your policy document to review and return if unsatisfied.
⚠️ Exclusion
Suicide clause applies as per IRDAI regulations and insurer policy terms.
Example — Educational Illustration
See how guaranteed income and protection work together in a real-life-style scenario.
Profile: Age 35 | Premium ₹1,00,000 / year | 10-year pay | 15-year payout | Annual income option
- ✅ Guaranteed income per year during payout years.
- 💰 Maturity amount returned as a fixed % of total premiums paid (per plan terms).
- 🕊️ Death benefit pays Sum Assured on Death per chosen option (Life / Guaranteed Income).
You’ll receive a personalized benefit sheet as a PDF — with IRDAI-compliant assumptions, charges, and notes.
FAQs — Quick Answers
Simple clarifications so you can decide with confidence.
Life Income: Lump-sum death benefit is paid; policy ends.
Guaranteed Income: Death benefit is paid and remaining guaranteed incomes continue to nominee (or discounted value if allowed).
Usually allowed once before payout starts (per policy rules). We’ll confirm in your illustration.
Possible under Sec. 80C & Sec. 10(10D). Tax treatment depends on your eligibility. Please consult your tax advisor.
Yes, subject to underwriting across insurers. We compare and right-size cover based on your goals.
Why Plan with Praveen Sharma
Independent advice. Clear illustrations. Support that lasts.
🧭 Unbiased & Need-Based
We compare multiple IRDAI-registered insurers and recommend what fits your goals—never brand-led.
📊 Clear Benefit Illustrations
Personalized numbers before you decide—income, maturity, death benefit, and charges.
🤝 End-to-End Assistance
From proposal & documentation to service and support—we’re with you throughout.
Compliance & Disclaimer
- ✅ IRDAI-registered insurers
- ✅ Non-linked, non-participating
- ✅ Data confidentiality
Tax advisory: Tax treatment depends on individual circumstances. Please consult your tax advisor.
Educational Content Only: This page is for informational purposes and does not represent or promote any specific insurer or trademarked product. All policies are issued only by IRDAI-registered insurers. Always review official brochures and benefit illustrations before purchase.
What we need to generate your personalized illustration
- Age, gender, smoker status
- Annual premium (or target income) & pay term
- Payout period & income frequency
- Income option (Life Income / Guaranteed Income)