This is an
Endowment Assurance Plan available for children of less than 12 years of age. The
proposer of the policy can be either of the parents, the legal guardian or the
grandparents of the child. The child will become the owner of the policy at the
age of 18. If at the time of taking the policy the child's age is less than 10
years, he need not go through a medical examination. Premium waiver benefit is
available on payment of extra premium along with standard age proof and medical
examination up to 50 years of proposer's age.it is a with-profit plan i.e., it
takes part in the corporation’s insurance business.
PLAN PARAMETERS-
|
Age at entry
|
Min.0, Max. 12 yrs
|
|
Maturity age
|
Max. 45 yrs
|
|
Sum Assured
|
Min.5000
|
|
Term
|
Min15yrs, Max. 35 yrs
|
|
Mode of payment
|
YLY/HLY/QLY/SP
|
|
Accident benefit
|
after 18 yrs. Age of
child (Max. 50lac inclusive Re.1 extra per
All plans) |
|
Policy loan
|
N. A
|
|
Housing loan
|
N. A
|
|
Assignment
|
N. A
|
|
Revival
|
yes
|
|
Surrender of policy
|
yes
|
|
Term rider
|
N.A
|
|
CIR
|
N.A
|
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