Product summary
This is an Endowment Assurance Plan available for children of less than 12 years
of age. The policy may be purchased by any of the parent/grand parent.
Death Benefit
The Sum Assured along with vested bonuses, if any, is payable in a lump sum upon
the death of the life assured after the commencement of the risk. If death occurs
before the commencement of the risk, the premiums paid excluding the premiums for
the Premium Waiver Benefit, if any, will be refunded.
Maturity Benefit
Sum assured along with all bonuses declared during the policy term is payable in
a lump sum on survival to the end of the policy term.
Premium Waiver Benefit
This is an optional benefit that can be added to your basic plan. An additional
premium is required to be paid for this benefit. By payment of this additional premium,
the proposer can secure the benefit of cessation of premiums from his/her death
to the end of the deferment period. The deferment period for this purpose is to
be taken as 18 minus age at entry of child.
|