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Products Child Plans

Child Money Back (832)

Product Summary

New Childrens Money Back Plan is a non-linked, with-profits, regular premium payment money back plan.

Premium Payment Mode

Yearly, Halfly, Quarterly, Monthly(ECS)

Term

25 Age at Maturity Time

Minimum Entry Age

0 Year Last Birthday

Maximum Entry Age

12 Year Last Birthday

Minimum Sum Assured

Rs. 1,00,000

Maximum Sum Assured

NO LIMIT (Depending upon Income)

Policy Benefits

On Death :

On death Before the Date of Commencement of Risk:
An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk:
Death Benefit, defined as sum of Sum Assured on Death and vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable. Where Sum Assured on Death is defined as higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. Basic Sum assured. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

On Survival :

If Policy in full force :
Completion Age 18YRS - 20% OF MSA
Completion Age 20YRS - 20% OF MSA
Completion Age 22YRS - 20% OF MSA
On Maturity at Age 25YRS - 40% of MSA + Vested Bonus + FAB

Surrendered Value

The policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.

Loan

Loan facility is available under this plan after the payment of premiums for at least three full years.

Income Tax Benefit
  • Premium paid under this plan is eligible for TAX rebate under section 80c.
  • Maturity under this plan is free under sec 10(10D).

Jeevan Tarun (834)

Product Summary

Jeevan Tarun Plan is non-linked, with-profits, Limited premium payment plan specially designed to meet the educational and other needs of growing children.

Premium Payment Mode

Yearly, Halfly, Quarterly, Monthly(ECS)

Term

25 Age at Maturity Time

PPT

20 Age at Entry Years

Minimum Entry Age

0 Year Last Birthday

Maximum Entry Age

12 Year Last Birthday

Minimum Sum Assured

Rs. 75,000

Maximum Sum Assured

NO LIMIT (Depending upon Income)

Policy Benefits

On Death :

On death Before the Date of Commencement of Risk:
An amount equal to the total amount of premiums paid excluding taxes, extra premium and rider premium, if any shall be payable.

On death After the Date of Commencement of Risk:
Death Benefit, defined as sum of Sum Assured on Death and vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable. Where Sum Assured on Death is defined as higher of 10 times of annualized premium or Absolute amount assured to be paid on death i.e. Basic Sum assured. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

On Survival :

Option is chosen at proposal stage.
Option-1: No Survival,Maturity Benefit 100% S.A.
Option-2: 5% S.A. every year For 5 Years from age 20 to 24,Maturity Benefit 75% S.A.
Option-3: 10% S.A. every year For 5 Years from age 20 to 24,Maturity Benefit 50% S.A.
Option-4: 15% S.A. every year For 5 Years from age 20 to 24,Maturity Benefit 25% S.A.

Surrendered Value

The policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.

Loan

Loan facility is available under this plan after the payment of premiums for at least three full years.

Income Tax Benefit
  • Premium paid under this plan is eligible for TAX rebate under section 80c.
  • Maturity under this plan is free under sec 10(10D).

Single Premium Endowment (817)

Product Summary

Single Premium Endowment Plan (817) is a single premium, non-linked, with profits Endowment Plan.

Premium Payment Mode

Single Premium

Term

10 to 25 Years

Minimum Entry Age

90 Days Completed

Maximum Entry Age

65 Year (Nearest Birthday)

Minimum Sum Assured

Rs. 50,000

Maximum Sum Assured

NO LIMIT (Depending upon Income)

Policy Benefits

On Death :

On Death after commencement of risk: Sum Assured + Vested Bonus + FAB if any
On Death before commencement of risk: Return of Single Premium excluding taxes and Extra Premium.

On Survival :

On survival Sum Assured + Vested Bonus + FAB if any.

Surrendered Value

The Policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

Loan

Loan Facility is available under this plan, after completion of one policy year.

Income Tax Benefit
  • u/s 80C up to 10% of SA.
Proposal Form

300/340 shall be used under this plan

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