Product summary
This plan is specially designed to meet the increasing educational, marriage and
other needs of growing children. It provides the risk cover on the life of child
not only during the policy term but also during the extended term (i.e. 7 years
after the expiry of policy term). A number of Survival benefits are payable on surviving
by the life assured to the end of the specified durations.
Benefits
Survival Benefit
On life assured surviving to the end of the specified durations an amount 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)
Sum Assured along with vested Simple Reversionary Bonuses and Final (Additional)
Bonus, if any shall be 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 extra premium and premium for premium waiver benefit,
if any,) along with interest of 3% p.a compounding yearly shall be payable.
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