Smart Term Plan Plus
A non-linked, non-participating pure risk term plan that pays a lump sum to your family if you pass away during the policy term.
Pure termKey features
- Choice of death benefit variants as per brochure
- Option to cover till a chosen age
- Optional riders for accidental death, critical illness and waiver of premium
- Tax benefits as per prevailing tax laws
Entry age: 18 to 65 years, as listed by the insurer.
99.7%+
Individual death claim settlement ratio reported by the insurer
64
Critical illnesses covered with the optional critical illness rider
Fast
Instant claim processing for eligible claims, as per insurer terms
Till 85
Cover up to a chosen age, as per variant
Benefits of this plan
Large cover, low premium+
A pure protection plan, so most of your premium buys life cover for your family.
Terminal illness benefit+
On diagnosis of a covered terminal illness, the sum assured can be paid early as per policy terms.
Optional riders+
Add accidental death, critical illness (covering up to 64 illnesses) and waiver of premium for full protection.
Return of premium option+
Choose a variant that returns premiums paid if you survive the policy term.
Flexible payout+
Family can receive the benefit as a lump sum, monthly income, or a mix of both.
Tax benefits+
Premiums and payouts may be eligible for tax benefits as per prevailing tax laws.
Variants and what each one does
Life Secure
Fixed sum assured paid on death during the term. Lowest premium.
Life Secure with Return of Premium
Same life cover, plus total premiums paid returned on survival till maturity.
Increasing Life Cover
Cover increases each year to keep pace with inflation and growing family needs.
Special exit option
Option to exit at a set age and get premiums paid back, as per brochure.
How to buy through SP Insurance
- 1Share your age, income, city and the cover you want with our advisor on call or WhatsApp
- 2We compare variants and riders and send you the exact premium from the insurer
- 3Fill the proposal with correct health and lifestyle details; we check it with you
- 4Complete the medical check or video call if the insurer asks for it
- 5Pay the premium and receive your policy document; we keep a copy for claim support
Plan video
How and when the claim is paid
- 1The nominee informs the insurer or SP Insurance as soon as possible after the death of the life assured
- 2Submit the claim form, death certificate, policy copy, nominee ID and bank proof; medical or police records if asked
- 3The insurer settles the claim within the IRDAI timeline after receiving all documents (early claims may need investigation)
- 4Money is paid to the nominee's bank account as a lump sum or monthly income, as per the option chosen
Check before you buy
- Premium depends on age, cover, term, smoking status, income and medical underwriting
- Disclose all health and lifestyle details truthfully to avoid claim rejection
- Suicide exclusion applies in the first 12 months as per policy terms
Family financial planning starts here
Term Insurance
Smart Term Plan Plus
Fill in the plan details and your name, mobile and email, then press Calculate. Your estimate and a branded PDF will appear here.
Approximate figures without discounts or benefits. The insurer sets the final premium after underwriting.
This page is a summary prepared by SP Insurance. The insurer's current brochure, prospectus and policy wording are the final reference for benefits, eligibility and exclusions.