Product summary
This is an Endowment Assurance plan designed to enable a parent or a legal guardian
or any near relative of the child (called proposer) to provide insurance cover on
the life of the child (called life assured).
The plan has two stages, one covering the period from the date of commencement of
policy to the Deferred Date (called deferment period) and the other covering the
period from the Deferred Date to the date of maturity. The insurance cover on the
child’s life starts from the Deferred Date and is available during the latter period.
The Deferred Date in case of this Plan is the policy anniversary date coinciding
with or next following the date on which the child completes 21 years of age.
Death Benefit
The Sum Assured along with vested bonuses is payable in a lump sum upon the death
of the life assured after the deferrement period.
If death occurs before the deferrement period all premiums paid is refunded.
Maturity Benefit
Sum assured along with all bonuses declared up to maturity date is payable in lump
sum.
Supplementary/Extra Benefits
These are the optional benefits that can be added to your basic plan for extra protection/option.
An additional premium is required to be paid for these benefits.
|