Future Smart IV – Plan No. 266

Future Smart V is a Single Premium, Guaranteed Return, Non-linked, saving plan. It provides financial protection against death during the policy term with provision of One-year additional guaranteed addition. On survival to the end of the term, the policy provides guaranteed lump sum amount at Maturity after 5 Year. An ideal plan for those looking for guaranteed return in USD for short term need.



Death Benefits

In the event of unfortunate death of the Life Assured during the term of the policy, Basic Sum Assured along with Top Up Premium, accrued Guaranteed Addition on Basic Sum Assured and Top Up premium along with one additional years’ Guaranteed Addition on the Basic Sum Assured and Top Up premium will be paid to the nominee/beneficiary. The Policy will terminate upon such payment of Death Benefit.

Maturity Benefits

The Basic Sum Assured along with Top Up Premiums and Guaranteed Additions on the Basic Sum Assured & Top Up Premium are payable in lump sum to the policyholder on survival to the end of the policy term.

Guaranteed Addition

Guaranteed Additions accrue on completion of every policy year at a rate of USD 33 per annum per thousand on Basic Sum Assured and Top Up premiums.


Attribute Minimum limit Maximum limit
Sum Assured USD 100,000 No Limit, subject to underwriting limits as per company’s policy.
Top Up Premium USD 5,000 and in multiple of USD 1,000 thereafter No Limit, subject to underwriting limits as per company’s policy.
Age Entry 18 years ( completed) 70 years ( nearer birthday)
Age at Maturity 75 years ( nearer birthday)
Term 5 Years
Premium Paying Term Single Premium



A Single premium is payable at the start of the Term.



The minimum Top-Up premium of USD 5,000 is compulsory. The proposer may opt to increase the Top-Up premium amount as per his / her choice over and above the minimum prescribed amount of USD 5,000 in multiple of USD 1,000 thereafter. Top Up premium is to be paid only at the outset along with the base Single Premium. No additional benefits will accrue on Top-Up premiums other than Guaranteed Additions as described above.



The policy will acquire a surrender value after completion of one full policy year. The minimum Guaranteed Surrender Value is 98% of the Single Premium and Top-Up premium paid excluding any extra premiums.

However, Special Surrender Value as mentioned in the Policy Bond may be paid if it is more favorable to the Policyholder.

The special Surrender Value is as follows:


Policy Year Special Surrender Value as a percentage of Single premium & Top Up Premium  (Excluding any taxes and extra premium)
2 103% of Single Premium & Top Up Premium
3 106% of Single Premium & Top Up Premium
4 109% of Single Premium & Top Up Premium
5 113% of Single Premium & Top Up Premium


On surrender, the higher of Guaranteed Surrender Value and Special Surrender Value shall be payable. Special Surrender Value scale may be changed depending upon the future experience of the Company.



Provided the policy has acquired surrender value, the Life Assured may obtain a loan up to 80% of the Surrender Value of the policy subject to production of satisfactory title to the policy and satisfactory assignment of the policy to the Company.  The rate of interest and other terms and conditions of granting loan will be as determined by the Company at the time of granting the loan.

The rate of interest is subject to change from time to time by the company.

A policy shall be foreclosed if the loan and interest outstanding exceeds the Surrender Value.



All aspects of underwriting will be as per the underwriting policy of the company.



Insurance levy/VAT or any other taxes levied by the Government Authorities will be in addition to the premiums mentioned.