Childrens plan

Introduction:
This is a regular premium traditional plan designed to provide
adequate money for key educational milestones in your childs life.
This plan insures the life of the parent and makes the child the
beneficiary, therefore ensuring that the future of the child.
Overview:

Minimum Sum Assured (SA) is Rs.1,00,000

Maximum SA is Rs.30,00,00
Age at entry to parent is 25 years to 40 years
Age of child is 0 to 10 years
The terms are 10, 15, 20 or 25 years.
Modes of payment are Yearly, Half-yearly or Monthly.

Features and Benefits:

In the event of an unfortunate death of the parent, SA is paid

immediately.
Guaranteed additions are paid at the age of maturity.

Accident Benefit Rider:

The Accidental Death benefit is payable if death occurs

directly as a result of an accident and is intimated within 90
days of the occurrence.
The Premium to be paid is Rs.1 per Rs.1000 of Sum Assured.
Here, the Benefit paid is equal to the Rider Sum Assured.
The Rider SA is Rs.1,00,000.

Surrender/Paid Up:
If premiums are paid for at least 3 consecutive years, the policy
acquires a surrender value which is equal to 35% of the premiums paid
plus the guaranteed additions until the term of surrender.
If premiums have been paid for at least 3 consecutive years and any
subsequent premium has not been paid within the grace period, the SA
under this policy shall stand reduced to a paid-up sum which shall be an
amount bearing to the SA the same proportion as the number of
premiums which have been paid bears to the total no. of premiums which

are payable under the policy, to which will be added the guaranteed
additions and vested bonuses if any.
There are regular payouts, in addition to above, at the intervals of T-7, T5 , T-2 and at the end of the term.
The payout structure is given as under:
Time of
Payout
T-7

Payout as a %
of SA
20%

Educational
milestone
Secondary

T-5

25%

T-2
End of
term

25%
30% + SA +
Guaranteed
Additions @
Rs.50 per 1000
SA
for each
completed year
for the
first five years.

Higher
Secondary
Graduation
Post
Graduation

Needs met
Extra tuition- preparation for
high school
Admission fees for college,
tuition fees
Higher Studies
Going abroad for higher
studies/marriage/careerestablishment

Here, T in the above represents the term of the policy in years.

Protection:

The beneficiary (the child) gets 100% of the SA.

Incase of the unfortunate death of the parent, the policy will
continue and complete survival and maturity benefits will be
paid even though the SA has been paid.