Children's Insurance Plan
Children's Benefit
Jeevan Chhaya
- Ideal for parents to give a gift of love to their children
- Makes provision for education/marriage of the child
- Extra Benefit of premium waiver in case of death of the policy holder and basic S.A. in natural death, twice S.A. for accidental death.
Eligibility
Minimum age at entry
18 years (Complete)
Maximum age at entry
45 years
Maximum age at maturity
65 years
Minimum term
18 years
Minimum term
25 years
Minimum sum assured
Rs. 50,000/-
Benefits
Housing loan : Available (Subject to conditions)
Policy Loan : Any time and any number of times after three years from date of commencement of policy at a very low interest rate.
Permanent disability : Benefit available
Maturity benefits : 25% of the sum assured payable each year at the end of the last 3 years from maturity and balance 25% of sum assured along with Bonus + final additional Bonus
Death before maturity :
- Natural : Besides the maturity benefits, an additional amount equal to full sum assured is payable. Further premiums waived
- Accidental : Besides the maturity benefits, an additional amount equal to Double sum assured is payable. Further premiums waived
Income tax rebate : Permanent disability, Maturity and Death claims.
100% income-tax free : Permanent disability, Maturity and Death claims.
Marriage Endowment
- Payment of money in instalments for child's education.
- Guaranteed payment at the end of the selected term for the marriage of your daughter.
- Choice of choosing term to coincide with the maturity of the child's marriage/Education
- Payment of future premiums ceases if death occurs during the term
- The Critical illness sum assured is payable on the life assured survival for a period of 28 days from the date of occurrence of the specified critical illnesses.
- Future premium is waived, if premium waiver benefit is opted by the client.
- An amount equal to term assurance will be payable if the term rider benefit is opted by the client.
Eligibility
Minimum age at entry
18 years (Complete)
Maximum age at entry
60 years
Maximum age at maturity
70years
Minimum term
5 years
Minimum term
25 years
Minimum sum assured
Rs. 50,000/-
Benefits
Housing loan : Available (Subject to conditions)
Policy Loan :Any time and any number of times after three years from the date of commencement of policy at a very low interest rate.
Permanent disability : Benefit available
Maturity benefits : The full sum assured along with accured bonus + final additional bonus paid either in lump sum or in 10 half yearly instalments.
Death before maturity :
- Natural : Payment of future premiums ceases and policy money i.e. S.A.+ Bonus becomes payable on the date of maturity
- Accidental : Payment of future premiums ceases. An amount equal to sum assured paid immediately and policy money i.e. S.A.+ bonus becomes payable on the date of maturity
Income tax rebate : Permanent disability, Maturity and Death claims.
100% income-tax free : Permanent disability, Maturity and Death claims.
Children's Life
Komal Jeevan
- Money back plan for childrens.
- Gateway to child's education and career.
- P.W.B. & term rider benefit available for proposer.
- Guaranteed addition of Rs. 75 per annum on per thousand S.A.
Eligibility
Minimum age at entry
0 years
Maximum age at entry
10 years (Complete)
Maximum age at maturity
26years
Minimum term
8 years
Minimum term
18 years
Minimum sum assured
Rs. 1 Lakhs
Maximum sum assured
Rs. 25 Lakhs
Benefits
Maturity benefits :
- After 18 yrs of age : 20 % of the sum assured
- After 20 yrs of age : 20 % of the sum assured
- After 22 yrs of age : 30 % of the sum assured
- After 24 yrs of age : 30 % of the sum assured
- After 26 yrs of age : G.A.+Loyalty in addition
Death before maturity :
- Before commencement of Risk : Refund of premiums only
- After commencement of Risk : Payment of the sum assured +Guaranteed additions + Loyalty Additions (Instalments already paid will not be deducted
Income tax rebate : Permanent disability, Maturity and Death claims.
100% income-tax free : Permanent disability, Maturity and Death claims.
C.D.Endowent Plan
- Provide insurance to your child at a very low rate of premium.
- Premium waiver benefit to the proposer.
- Provision of cash option at the time of deferment date if required.
Eligibility
Minimum age at entry
0
Maximum age at entry
17 years for T. No. 41
Maximum age at maturity
14 years for T. No. 50
Minimum term
13 years for T.No.41
11 years for T.No.50
Maximum term
50 years
Minimum sum assured
Rs.50,000/-
Deferment Period
Up to age 18 years for T.No.41
Up to age 21 years for T.No.50
Benefits
Maturity benefits :
- After 18 yrs of age : 20 % of the sum assured
- After 20 yrs of age : 20 % of the sum assured
- After 22 yrs of age : 30 % of the sum assured
- After 24 yrs of age : 30 % of the sum assured
- After 26 yrs of age : G.A.+Loyalty in addition
Death before maturity :
- Before commencement of Risk : Refund of premiums only
- After commencement of Risk : Payment of the sum assured +Guaranteed additions + Loyalty Additions (Instalments already paid will not be deducted
Income tax rebate : Permanent disability, Maturity and Death claims.
100% income-tax free : Permanent disability, Maturity and Death claims.
Jeevan Anurag
- Exclusive policy for the benefit of the child.
- Extra protection- risk cover as term rider is available.
- Critical illness rider along with Premium waiver benefit is available.
Eligibility
Minimum age at entry
20 years
Maximum age at entry
60 years
Premium paying term
Single, equal to term or PPT-3
Policy term
13 years for T.No.41
10 yrs. for regular
Maximum - 25 yrs.
Minimum sum assured
Rs.50,000/-
Maximum sum assured
No Limit
Benefits
Benefit available : Benefit available
Maturity benefits : 20% of the sum assured payable each year at the end of the last 3 years from maturity and balance 40% of sum assured along with Bonus + final additional Bonus
Death before maturity :
- Natural : Besides the maturity benefits, an additional amount equal to full sum assured along with term rider sum assured, if opted is payable . Further premiums waived
- Accidental : Besides the maturity benefits, an additional amount equal to Double sum assured is payable. Further premiums waived
Income tax rebate : Permanent disability, Maturity and Death claims.
100% income-tax free : Permanent disability, Maturity and Death claims.
Child Career Plan
- Payment of money in instalments for child's education.
- Guaranteed payment at the end of the selected term for the marriage of your daughter.
- Choice of choosing term to coincide with the maturity of the child's marriage/Education
- Payment of future premiums ceases if death occurs during the term
- The Critical illness sum assured is payable on the life assured survival for a period of 28 days from the date of occurrence of the specified critical illnesses.
- Future premium is waived, if premium waiver benefit is opted by the client.
- An amount equal to term assurance will be payable if the term rider benefit is opted by the client.
Eligibility
Minimum age at entry
0 years (last birthday)
Maximum age at entry
12 years (last birthday)
Minimum age at maturity
23 years (last birthday)
Maximum age at maturity
27 years (last birthday)
Minimum sum assured
Rs. 1,00,000
Maximum sum assured
Rs. 100,00,000
Policy Term
11 to 27 years
Policy Term
11 to 27 years
Premium Paying term
6 years and Policy term less 5 years Sum Assured shall be in multiples of Rs. 5000.
For Proposer (if PWB is opted for)
Minimum Entry Age
18 years (completed)
Maximum Entry Age
55 years (Nearer birthday)
Maximum Age at the end
of premium paying term:
of premium paying term:
70 years (Nearer birthday)
Benefits
Survival Benefits :
On life assured surviving to the end of the specified durations an amount as specified below is payable:
- 5 years before the date of expiry of policy term - 30% of the Sum Assured along with vested Simple Reversionary Bonuses
- 4 years before the date of expiry of policy term - 15% of the Sum Assured
- 3 years before the date of expiry of policy term - 15% of the Sum Assured
- 2 years before the date of expiry of policy term - 15% of the Sum Assured
- 1 years before the date of expiry of policy term - 15% of the Sum Assured
- On the date of expiry of policy term - 15% of the Sum Assured along with Final (Additional) Bonus, if any.
Death Benefit :
On death after the Date of Commencement of Risk -
- If death occurs within the period from date of commencement of risk to 5 years before the date of expiry of policy term: Sum Assured along with Vested Simple Reversionary Bonuses and Final (Additional) bonus (if any) is payable.
- If death occurs within 5 years before the date of expiry of policy term: Sum Assured along with Final (Additional) bonus (if any) is payable. On death during the Extended Term - Sum Assured is payable.
- On death before the Date of Commencement of Risk - All the premiums paid (excluding premium for extra and premium waiver benefit, if any,) along with interest of 3% p.a compounding yearly shall be payable.
Child Future Plan
Benefits
Survival Benefits :
On life assured surviving to the end of the specified durations an amount as specified below is payable:
- 5 years before the date of expiry of policy term - 25% of the Sum Assured
- 4 years before the date of expiry of policy term - 10% of the Sum Assured
- 3 years before the date of expiry of policy term - 10% of the Sum Assured
- 2 years before the date of expiry of policy term - 10% of the Sum Assured
- 1 years before the date of expiry of policy term - 10% of the Sum Assured
- On the date of expiry of policy term - 50% of the Sum Assured along with vested Simple Reversionary Bonuses and Final (Additional) Bonus, if any.
Death Benefit :
- On death after the Date of Commencement of Risk but before the date of expiry of policy term -Sum Assured along with Vested Simple Reversionary Bonuses and Final (Additional) bonus (if any) is payable.
- On death during the Extended Term - Sum Assured is payable.
- On death before the Date of Commencement of Risk - All the premiums paid (excluding premium for extra and premium waiver benefit, if any,) along with interest of 3% p.a compounding yearly shall be payable.
Jeevan Amrit
- Flexible Premium Payment Terms
- Short term premium payment (3,4 or 5 years)
- Long term risk cover (10 to 30 years) - Bonus continues to accrue in the post
- premium payment period. - The policy provides simple reversionary
- bonus plus Final additional bonus. - Premium in first year is higher than the premiums payable in subsequent years
- High Liquidity : Policy acquires Paid-up Value if one full year’s premium has been paid. Guaranteed Surrender Value (GSV) available after one year & Special Surrender Value (SSV) after three years.
Jeevan Ankur
- Conventional with profits plan
- Specially designed to meet educational & other needs of child.
- Allowed to the parents who have a child upto the age of 17 years last birthday.
- Risk cover will be on the life of the parent who will be the Life Assured.
- No insurance coverage on the life of the child.
- Policy term shall be based on the age of the child.
- Child will be the nominee under the plan.
- The term of the policy can be chosen so that on the date of maturity age of the child is in the range 18 to 25 years last birthday.
Eligibility
Minimum Age at Entry for LA
18 years (Complete)
Maximum age entry for LA
50 years (nearest birthday)
Minimum Age at entry for child
0 years (last birthday)
Maximum Age at entry for child
17 years (last birthday)
Minimum term
Higher of (18 – age of child, 8) yrs
Maximum Term
(25 – age of child) years
Minimum Basic Sum Assured
Rs.1,00,000/-
Maximum Basic Sum Assured
No Limit
Benefits payable on maturity
Assured maturity benefit = Basic Sum Assured + Loyalty Addition, if any
On death of the Life Assured
- Basic Sum Assured payable immediately on death.
- Income benefit equal to 10% of the Basic Sum Assuredis payable on each policy anniversary.
- Lump sum amount equal to Basic Sum Assured is payable on the scheduled maturity date of the policy along with Loyalty Addition.