Why SmartKid Assure - ICICI Prulife


Minimum Premium	Rs. 15,000 per annum
Minimum Sum Assured	5 X Annual Premium, subject to a minimum of Rs.1,00,000
Maximum Sum Assured	As per the maximum Sum Assured multiples
Minimum / Maximum age at entry (Parent)	20 / 60 years
Minimum / Maximum age at entry (Child)	0 / 15 years
Maximum age at maturity (Parent)	75 years
Minimum / Maximum age at maturity (Child)	18 / 30 years
Minimum / Maximum Policy term	15 / 25 years
Modes of Premium payment	Yearly / Half yearly / Monthly

Complete protection : Company will pay the Sum Assured and future premiums in the unfortunate event of death of the parent (Life Assured)
Guaranteed Addition (GA) : 120% to 170% of annual premium allocated to your Fund Value at the end of the 15th Policy year*
LifeCycle based Portfolio Strategy : A unique and personalized strategy to create an ideal balance between equity and debt, based on your age
Additional allocation of units : More than 100% allocation to funds on premium payment, from the 6th Policy year onwards
Partial withdrawals : Option to provide money at key educational milestones for your child
Tax Benefits : On premiums paid and benefits received, as per prevailing tax laws

* based on the number of premiums paid by you or the Company

Maturity benefit : At maturity the Fund Value shall be payable. Alternatively, you can opt for the Settlement Options available.
Guaranteed Addition (GA) : A Guaranteed Addition varying from 120% to 170% of annual premium will be allocated to the Fund Value at the end of the 15th Policy year. This will depend on the number of premiums paid towards the Policy
Additional Allocation of Units : Additional units will be allocated every year @ 2% of annual premium starting from the 6th Policy year, only on payment of your regular premiums.
Death benefit : In the unfortunate event of death of the parent (Life Assured) during the term of the Policy, the following benefits are payable:
- Sum Assured would be paid out immediately
- Company will pay the future premiums till the maturity of the Policy under the Payer Waiver benefit.
- Policy benefits would continue for your child's educational and developmental needs, as planned by you
- If Income Benefit Rider (IBR) has been chosen, 10% of rider Sum Assured shall be paid to the beneficiary every year till the maturity of the Policy

With ICICI Pru SmartKid Assure, you have the option to choose from two unique portfolio strategies. These are:

LifeCycle based Portfolio Strategy : Your financial needs are not static in nature and keep changing with your life stage. It is therefore, necessary that your pension product adapts itself to your changing needs. This need is fulfilled by the LifeCycle based Portfolio Strategy. Key features of this strategy are:
Age based portfolio management
Quarterly rebalancing
Safety as you approach retirement
Fixed Portfolio Strategy : If you wish to manage your investment actively, we have a Fixed Portfolio Strategy. Under this strategy, you must choose your own asset allocation from any of the eight funds options. You can switch between these funds using our switch option. The details of the funds are given in the table below:

We offer several options for you to buy as per your convenience. Choose from one of the following:

Simply choose from our range of Insurance plans below