Maturity Benefit
Guaranteed Sum Assured on Maturity + Accrued Guaranteed Additions — payable at the end of the policy term.
Savings • Life Cover • Guaranteed Additions
Smart Platinum Saver Guaranteed Returns with Protection
A smart limited-pay savings plan that blends guaranteed returns with life protection — helping you plan confidently for your family’s long-term financial security.
- Independent & Need-Based Advisory
- Non-Linked • Non-Participating Plan
- Guaranteed Additions Every Year
About the Plan
Smart Platinum Saver is an individual, non-linked, non-participating life insurance savings plan that combines guaranteed returns with limited-term premium payment. You pay for a few years and enjoy benefits for the full policy term.
It’s designed for people who want assured maturity, life cover, and peace of mind — without exposure to market volatility.
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Guaranteed Returns
Enjoy assured growth every year, unaffected by market conditions.
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Limited Pay, Long Benefit
Pay for 7 or 10 years and receive policy benefits for 15 or 20 years.
🛡️
Life Protection
Provides financial security to your loved ones throughout the policy term.
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Tax Advantages
Eligible for deductions under Section 80C and tax-free benefits under 10(10D).
Key Highlights
| Feature | Description |
|---|---|
| Plan Type | Individual, Non-Linked, Non-Participating Savings Plan |
| Life Cover | Insurance protection throughout the policy term |
| Guaranteed Additions | Up to 4.9%–5.4% p.a., added each policy year* |
| Pay for Short Term | 7-year pay (15-year term) or 10-year pay (20-year term) |
| Flexible Frequency | Monthly or Yearly premium options |
| Tax Benefits | Eligible under Sec. 80C and Sec. 10(10D)** |
| Optional Rider | Accident & disability benefit available |
| No Market Risk | Guaranteed additions ensure predictable returns |
* Guaranteed additions apply only when all due premiums are paid on time.
** Tax benefits are as per prevailing laws under the Income-tax Act, 1961 and may change.
Illustration Example
(For educational purposes only — actual benefits depend on age, premium, and policy term.)
Example: Mr. A, aged 40, chooses:
- Annual premium: ₹1,00,000
- Premium Payment Term: 7 years
- Policy Term: 15 years
He pays ₹7,00,000 total over 7 years. At maturity, he receives:
| Component | Amount |
|---|---|
| Guaranteed Sum Assured | ₹8,40,000 |
| Guaranteed Additions | ₹4,53,600 |
| Total Maturity Value | ₹12,93,600 |
In case of Mr. A’s unfortunate demise during the policy term, the nominee receives ₹10,00,000 + accrued Guaranteed Additions.
Eligibility & Basic Parameters
Key limits and options at a glance.
| Parameter | Minimum | Maximum |
|---|---|---|
| Entry Age | 30 days | 60 years |
| Maturity Age | — | 75 years |
| Policy Term | 15 or 20 years | — |
| Premium Payment Term | 7 yrs (for 15-yr term) / 10 yrs (for 20-yr term) | — |
| Premium Frequency | Yearly / Monthly | — |
| Annual Premium | ₹50,000 | No limit (subject to underwriting) |
| Basic Sum Assured | ₹3,15,000 | No limit (subject to underwriting) |
Notes: “No limit” values are as per underwriting guidelines. All ages are last birthday.
Benefits
What you receive under Smart Platinum Saver.
Death Benefit
- Higher of 10 × Annualized Premium or 105% of total premiums paid (excluding taxes/riders),
- plus Accrued Guaranteed Additions.
Guaranteed Additions
| Annualized Premium | Rate of Additions |
|---|---|
| Below ₹1,00,000 | 4.90% p.a. |
| ₹1,00,000 & above | 5.40% p.a. |
Guaranteed Additions accrue at the end of every policy year, provided all due premiums are paid on time.
Note “Annualized Premium” excludes taxes, rider premiums, underwriting extras, and modal loadings. Benefits are as per policy terms & conditions.
Additional Benefits
Extra flexibility and protection built into your plan.
Reduced Paid-Up Value
If premiums stop after at least 1 full year, the policy continues with reduced guaranteed benefits instead of lapsing.
Surrender Benefit
Available after paying minimum 2 years’ premiums. You’ll receive the higher of the Guaranteed or Special Surrender Value.
Loan Facility
Borrow up to 80% of the surrender value once the policy acquires loan eligibility.
Revival Facility
You can revive a lapsed policy within 5 years, subject to underwriting and applicable interest.
Grace Period
Enjoy 30 days (yearly) or 15 days (monthly) grace period to make your premium payments.
Free Look Period
You have 30 days from receiving the policy to review its terms and return it if you’re not satisfied.
Exclusion
In case of death due to suicide within 12 months, the nominee receives 80% of premiums paid or surrender value, as per IRDAI norms.
Optional Riders
Enhance protection by adding rider benefits to your base plan.
Accident Benefit Rider (Optional)
- Provides accidental death or partial disability protection.
- Can be added at policy start or on a policy anniversary (while plan is active).
- Rider premium is charged separately and is in addition to base premium.
Riders are subject to their own terms and eligibility. Read the rider brochure before opting.
Tax & Compliance
Tax benefits may be available under Sec. 80C & Sec. 10(10D).
Plan governed by IRDAI-approved non-linked savings guidelines.
Complies with Indian life insurance standards & disclosure norms.
📌 Advisory: Tax treatment depends on individual circumstances. Please consult your tax advisor for personal eligibility.
Advisor’s Educational Note
“Smart Platinum Saver is ideal for individuals seeking guaranteed returns, simplicity, and life cover — especially professionals, parents, or retirees looking for predictable long-term savings.”
Disclaimer
This page is for educational and informational purposes only.
Product details shown here are based on publicly available regulatory-approved savings plan frameworks.
The information does not represent or promote any specific insurer or their trademarked product.
All policies are issued by IRDAI-registered insurers only.
Please review official brochures, benefit illustrations, and terms before purchase.