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HDFC Child Plan
HDFC Child Plan
Features Stone Plan Type HDFC STD Children's Plan Endowment ICICI Prudenetial Smart Kid Anticipated Endowment LIC Komal Jeevan Anticipated Endowment Max New York Stepping Stone Anticipated Endowment Bajaj Allianz Child Gain Anticipated Endowment Child Gain 21 and Child Gain 21Plus Max. Term- 21 yrs less current age at entry of child Child Gain 24 and Child Gain 24 Plus - Max. Term- 24 yrs less current age at entry of child 0 - 13 years
Matures between 22-25 years of the childs age. Term is 10-25 years
Premium to be paid till the child attains age 18. Max. Term- 26 yrs
11-26 years
Min / Max Age of Child Min / Max Age of Parent Payment Modes Life Assured Beneficiary
N.A.
0-12 years
0 - 10 years
N.A.
Child
Child
Benefit Structure
Two Structures 1. When the child reaches his critical milestones (Xth, Sum XIIth, Assured+bonuses Graduation,Post paid on maturity in Grad); % of S A lump sum is paid 2. Last 4 years before maturity; % of SA is paid over consecutive yrs 1) Maturity Benefit Plan: future premiums are waived; maturity benefits are paid SA paid up front. Child gets the guaranteed payments as chosen earlier
Monies paid as per - attained age: 18 yrs-20% of S.A, 20 yrs20% of SA, 22yrs-30% of SA, 24yrs-30% of SA & 26 yrs- Bonus for entire Term + Loyalty Additions, if any
On Death of parent
Child / Family Child / Family Child Gain 21 and 5 years before Child Gain 21Plus maturity - 30% 18 yrs-20% of of SA 2 years S.A+ accrued before bonuses, 19 yrsmaturity 25% of SA, 20yrs35% of SA At 25% of SA, 21yrsmaturity 35% of SA Child 35% of SA + Gain 24 and Child 30% Gain 24 Plus 18 guaranteed yrs-25% of S.A+ addition + accrued bonuses, non20 yrs-25% of SA, guaranteed 22yrs-25% of SA, bonus, if any 24yrs-40% of SA In case of In case of death of death of the the parent, all life insured, future premiums an amount are waived off and equal to sum all pending survival
like normal on maturity 2)Accelerated Benefit Plan: Sum assured + bonuses paid to beneficiary on death & contract terminates 3)Double Benefit Plan: Sum assured paid immediately on death; future premiums are waived; maturity benefits are paid like normal on maturity Policy continues as it is. It can be nominated to another child in that case also
payments as per Structure + bonus paid at the end of the policy term. *In case premium waiver benefit rider is taken
assured is paid immediately, all future premiums are waived off and all pending survival benefits remain unaffected, including maturity bonuses
benefits remain unaffected. Also, a monthly income benefit @1% of SA subject to max. of Rs.10,000/- p.m. is paid. In case of Child Gain 21 Plus and Child Gain 24 Plus, an additional SA max upto Rs.10 lacs is payable i.e. Start of Life Benefit on death of parent
On Death of child
Policy continues as it is. It can be Policy continues nominated to another child in that case also Guaranteed 30% os sum 3.5% of SA Guaranteed @ assures, compunded 7.5% of SA along with annually for the simple interest. nonBonuses declared first 4 years, Paid on Child guaranteed by company annual bonuses attaining age 26. bonuses as declared Loyalty Additions, declared by thereafter if any. the company from time to time On death after commencement of risk , Sum Assured + Bonus till Date is paid & Plan Closes
On death after commencement of risk , Sum Assured + Accured Bonus till Date is paid & Plan Closes
Riders Available
None
ADBR/IBR
Accident Cover, ADB, CI, Premium Waiver Term, Term Benefit R&C, WOP
Inbuilt Waiver of Premium, Family Income Benefit In case of Child Gain 21 Plus & Child Gain 24 Plus, Start of Life benefit inbuilt.