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Life Insurance

Life insurance


  • One of the largest and professional Direct insurance Broking House in India accredited by Insurance Regulatory and Development Authority of India (IRDAI).
  • We provide wide choice of insurance products of all life and general insurance companies in India.
  • We represent clients, are totally independent of insurance companies and render impartial advice to protect client’s interests.
  • Major non-captive insurance broker in India.
  • Own 4-storey building in Delhi dedicated to insurance.

Our Edge

  • A team of professionals with strong Domain knowledge and expertise
  • Pan India Presence
  • Robust IT Infrastructure
  • Quality of services and best in industry processes
  • Strong National brand

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Human life is unpredictable and thus a person need to plan about his future as there may be a loss of income to the household. An individual can protect himself or herself against such contingencies through life insurance. Though Human life can not be valued but it is always better to have protection against uncertainties in life & protection required can be reached through loss of future cash inflows.There are different types of life insurance product which not only provides protection but also return on money invested in such policies.

Investment Plans
Investment plan provides an optimal mix of insurance and investments, thus protecting your family against any odds and building a corpus for your future. The idea of investment plan is to provide regular long-term savings and systematic accumulation of wealth.
Child Plans
Child insurance plans have traditionally played an important role in securing the child's future. Child plan is specially designed to meet the increasing educational and other needs of growing children. Today, providing a good education, establishing a professional carrier, securing a good future etc. can be done with the help of these plans.
Term Insurance Plans
Term insurance plans are pure form of insurance. It is low-cost insurance that is valid only for a stated period of time and has no cash surrender value. You can avail high insurance with very low premiums. Some insurance companies have also come up with Term Insurance policies with premium return features to make these plans more attractive to customers.
Endowment Insurance Plans
An endowment policy is a combination of insurance and investment. Under a plain vanilla endowment plan, the policyholder pays regular premiums for the policy term. If the policyholder dies during the policy term, the nominee gets the death benefit i.e. the sum assured and accumulated bonuses. On survival, the policyholder gets a survival benefit, including vested bonus and terminal bonus, if any.
Money Back Insurance Plans
Money back policies provide for periodic payments of partial survival benefits during the term of the policy so long as the policyholder is alive. An important feature of this type of policies is that in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which may have already been paid as money-back components. Similarly, the bonus is also calculated on the full sum assured.
Whole Life Insurance Plans
A whole life policy provides coverage for the entire life of the policyholder (provided he/she continues to make premium payments). When the policyholder dies his/her beneficiaries receive the death benefit. Unlike term life insurance, which covers the contract holder until a specified age limit, a traditional whole life policy covers till the person is alive. Unlike term life insurance, which covers the contract holder until a specified age limit, a traditional whole life policy never runs out.
Unit Linked Insurance Plans
A Unit Linked Insurance Plan (ULIP) is a life insurance policy that provides a combination of risk cover and investment. Since investments are linked to the dynamics of the capital market, client has risk attached to such investments. In simple words, it gives protection along with return on investment.
NRI Plans
Indian laws permit Non-Resident Indians to buy insurance. Insurance policies can be obtained by NRIs from several insurance companies available at SMC Insurance. The range of products offered by these companies cover almost every requirement that provide security as well as return on investment.
Plans for HNIs
Keeping in view growing number of High Networth Individuals (HNIs), many insurance companies have come out with a wide product range for this promising segment. These pans offer security, return on investment along with capital protection.
Plans for Handicapped Dependants
Handicapped Dependant plan provide life insurance cover offered to a person who has handicapped dependant satisfying conditions throughout the life time of the purchaser .The benefits under the plan are for the handicapped dependant which are partly in lump sum and partly in the form of an annuity.

Value addition for our

SMC Capitals offers a wide spectrum of services covering:

  • Critical evaluation of existing insurance policies and instead of renewal of individual policies, we suggest a Comprehensive Risk Management program
  • Assistance in deciding sum insured to avoid under-insurance
  • Education of insured’s dealing officials about what is covered and what is not
  • Efficient claim service through dedicated teams for both - Employee Benefit (EB) covers and all other cover.
  • Due to our volume of business, knowledge of market and expertise, we are able to obtain the best possible premium rates.
  • Designing of customized and qualitative insurance programme
  • Outsourcing of major part of insurance function.

About SMC

Established in 1990, SMC is one of the leading and well-diversified financial services companies in India offering services across brokerage (across the asset classes of equities (cash and derivatives), commodities and currency), investment banking, wealth management, distribution of third party financial products, research, financing, depository services, insurance broking and clearing services and real estate advisory services to corporate, institutional, high net worth individuals and other retail clients.

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serving over
18 Lac
unique clients
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Workforce of
Presence in500+ cities & oversease offices in Dubai
large network of
2,500+ sub-brokers & authorised persons
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Cumulative AUM under Mutual Funds 3,000+ crores
*As on 31st March 2018


What is general insurance?
Life insurance is an agreement that guarantees payment of a stated amount of monetary benefits at the end of a specified term or on the death of the life insured.
Why do I need life insurance?
Life insurance provides for financial security in the event of death or on the inability to earn due to physical disabilities. Besides providing for financial security in the case of one's untimely death, it can be used to accumulate a kitty for your old age, systematically build assets, for funding your child's education and also for saving on taxes.
I know I need insurance, but cannot afford the coverage. Can I do anything to lower the cost?
The cost of life insurance depends on three factors: your age, health and your income. We suggest that you not compromise on the level of protection you require. You could purchase a basic protection policy that gives you the opportunity to pay only the minimum premium. You can choose this affordable policy, without any riders.
Where can I find more information on life insurance?
Our relation managers would try to understand your requirements and propose the suitable life insurance policy for you.
What is nomination? And who is a nominee?
Nomination is a right conferred on the life insurance policyholder to appoint a person or persons to receive the policy monies in the event of the policy becoming a claim by death. Any policyholder, who is a major and the life insured under a policy, can make a nomination.
A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.
Can I change my nomination?
Yes. You can change your nomination at any time till the maturity date. Ail you need to do is to inform the insurance company about the change through the specified form.
What details am I to provide about the nominee/s?
The following details are necessary when filling in the proposal form: full name of the nominee, address, age, and the relationship between you and the nominee
What is the difference between nomination and assignment?
While nomination is an authorization to receive the policy monies in the event of death of the life assured, it does not give the nominee an absolute right over the money received to the exclusion of other legal heirs. Further, the nomination can be revoked or cancelled at any time during the lifetime of the policyholder at his will and pleasure or by a subsequent assignment.
On the other hand, assignment of an insurance policy is a transfer or assignment of all rights and liabilities of the insurance policy in favor of the assignee.
What is a claim?
A claim is the payment made by the insurer to the insured or claimant on the occurrence of the event specified in the contract, in return for the premiums paid for the insured.
What parameters are considered while asking the claim to submit particular records / document?
The company considers the sum at risk, cause, circumstances of claim and duration of the policy while asking for certain requirements. E.g. For accidental death, specific proofs such as post mortem and police report are required whereas for death due to illness, the company calls for records from hospital, test reports, etc .
What is IRDA?
IRDA is Insurance Regulatory Development Authority, that has been set up to protect the interests of the policy holders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto.
What are IRDA guidelines pertaining to claim processing?
As per IRDA (Insurance Regulatory Development Authority), the insurance company is required to settle a claim within 30 days of receipt of all the records, documents and necessary forms are submitted and documentation.
Who is entitled to receive the claim benefit?
  • The nominee or appointee (in case of minor nominee) last recorded under the policy in case of policy on own life.
  • The proposer in case the policy is not on own life.
  • Assignee in case the policy was assigned.
  • Life assured himself in case of policy on own life for living benefit claims (E.g. Critical illness rider)
How do I make a maturity claim?
You must send us the:
  • The nominee or appointee (in case of minor nominee) last recorded under the policy in case of policy on own life.
  • The proposer in case the policy is not on own life.
  • Assignee in case the policy was assigned.
  • Life assured himself in case of policy on own life for living benefit claims (E.g. Critical illness rider)
What is the benefit of opting for riders/add-ons?
Riders / add-ons are the additional benefits that can be added to the basic policies by paying a marginal additional premium. Some of the riders offered are:
  • Term Rider
  • Accident & Disability Benefit Rider
  • Accident Benefit Rider
  • Critical Illness Benefit Rider
  • Waiver of Premium Rider.
  • Income Benefit Rider.
What is the difference between switch and redirection?
A switch will enable you to shift the existing units of your unit-linked policy into a new fund and will not change your future premium allocation.
A premium redirection will enable you to change your allocation for all the future premiums of your policy. However, your existing units will not be shifted into a new fund.
In case I lose my policy document how do I obtain a duplicate policy?
You will need to pay the charges towards the issue of a duplicate policy, which will also include the charges for stamp fee. Insurance company will send a 'Duplicate Policy Request' form that you will need to fill and send it to company. You will also need to send additional requirements like FIR copy/ advertisement in the newspaper.
How will the Net Asset Value (NAV) be calculated for my servicing requests?
The Net Asset Value (NAV) is applicable at the time of valuation/ purchase. It is calculated as the value on the day you make a transaction request (provided it is a working day).
What do I need to do when the life assured becomes a major?
When the life assured becomes a major, you need to submit the proof of his/her age with his/her correct date of birth. You also need to write a covering letter.
Can I change the date of birth after the free look period? If yes, what are the documents required?
Yes, you can change the date of birth after the free look period. All you need to do is submit the proof of age with the correct date of birth, along with a covering letter.
When does a policy lapse?
A policy lapses when the policy holder fails to pay the premium even within the grace period. In this case, the policy loses all its benefits.
Can I surrender my policy?
After you pay premiums for at least three consecutive years. Your policy acquires a surrender value and you can surrender the policy. If you have single premium policy, you can surrender your policy after the first year.
What do I need to do to surrender my policy?
You need to submit a 'Surrender Request' form available with the insurance company.
What is partial withdrawal?
Partial withdrawal of a policy implies withdrawal of only a part of the funds of your policy. The applicable norms for partial withdrawal may differ for every product.
What are Top-ups?
Top-ups are one-time payments. You have the flexibility to make an additional investment through a top-up, which is over and above your regular premium payments. You can make a top-up at any time while your policy is in force. The applicable norms for top-ups may differ for every product.
What is transfer or assignment of a life insurance policy?
Transfer or assignment is a method of transferring one's transferable interest in a life insurance policy to another person or institution, for example, as a security for repayment of loans.
Can I assign a policy?
Yes, you can assign a policy. To assign the policy, you have to notify the insurance company regarding the assignment.
How do I assign a policy or transfer a life insurance policy?
Assignment or transfer of a life insurance policy may be made by simply making an endorsement to that effect in the policy document. Another way of transferring or assigning the life insurance policy is to get a separate assignment deed executed.
The former case is the preferred mode of assignment as it is exempt from further stamp duty. An assignment should be signed by the assignor or his duly authorized agent, and should specifically state the fact of transfer or assignment. The document should be attested by at least one witness.
Is assignment allowed on all the insurance plans?
Assignment is applicable on all insurance plans except Pension Policies and Married Women's Property Act (MWP).