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Death Benefit
This plan helps you remain at peace knowing that your family's immediate and future financial needs are taken care of even in case of your demise or disability as:
- Sum Assured is paid on death
- All future premiums are funded by the Company as and when due, in case of death or disability (if opted)
- Fund Value is paid at maturity
- At any point of time, the death benefit will not be less than 105% of the total premiums paid by you
Maturity Benefits
At the end of the Policy Term, you will receive the Fund Value that you can use to fulfill your dreams for your child.
Policy Term & Premium Options
Basis your family's needs, you can choose the Policy Term (10/15/20/25yrs). Further, you can also choose a Premium Paying Term from 10 to 20 years to suit your earning capacity.
Premium Funding Benefit
This benefit ensured that the future of your child is not compromised, in case of your death. The policy continues with all the future premiums funded by the company and your child received the fund value at maturity as planned by you.
If you have also opted for Premium Funding Benefit for disability, then in case of your Total & Permanent Disability, all future premiums will be funded by the Company. The Life Cover will continue and Sum Assured will be payable on subsequent death and fund value will be paid at maturity to your child.
Investment Funds
You can choose to invest in 7 investment funds with equity exposure ranging from 0% to100%, depending on your investment philosophy:
- Emerging Leaders Equity Fund
- India Multi-Cap Equity Fund
- Equity II Fund
- Growth Plus Fund
- Balanced Plus Fund
- Debt Plus Fund
- Liquid Fund
Tax Benefits#
You can avail tax benefit on the premium paid subject to current applicable provisions of Section 80 C of income Tax Act, 1961.
*Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, contact your independent tax advisor.Mr. Singh, 35 years old, opts for premium funding benefit option I and chooses to pay annual premiums as shown below. He opts for a Sum Assured of 10 times the annual premium with policy term and Premium paying term of 15 years each. The table below shows maturity values for multiple scenarios assuming annual gross investment return of 4%* and 8%* with 100% investment in Balanced Plus Fund.
Annual Premium (₹)
Sum Assured (₹)
Fund Value (₹) at the end of 15 years assuming Gross Investment Return of
4%*
8%*
50,000
5,00,000
8,11,434
11,28,770
75,000
7,50,000
12,17,151
16,93,154
1,00,000
10,00,000
16,22,868
22,57,539
2,50,000
25,00,000
32,45,736
45,15,079
5,00,000
50,00,000
81,14,341
1,12,87,697
*The assumed rates of return (4% p.a. or 8% p.a.) shown in the above illustrative examples of different scenarios are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The Fund Values shown in the above illustrative example are after deduction of all charges (including Goods and Services Tax & Applicable cess (es)/levy, if any @18%).
Entry Age (Life Assured )
Minimum
18 years
Maximum
Policy Term (years)
Age at Entry (years)
Age at Maturity (years)
10
51
61
Maturity Age (Life Assured)
Minimum
28 years
Maximum
Policy Term (years)
Age at Entry (years)
Age at Maturity (years)
15
51
66
20
49
69
25
45
70
You can choose any policy term of 10/15/20/25 years
Minimum
For ages below 45: Higher of (0.5 x policy term x Annualized Premium) OR 10 x Annualized Premium
For ages 45 & above: 7 x Annualized Premium
Maximum
The maximum Sum Assured varies basis age and chosen policy term and is subject to underwriting acceptance. Please refer the product brochure for complete details on maximum Sum Assured multiple available under this product.
Premium Funding Benefit
- You can choose the Premium Funding Benefit only at inception for:
- Option I: Death only
- Option II: Death or Total & Permanent Disability (TPD)
- The option once chosen cannot be changed or opted out later.
Premium
Minimum
Policy Term
Payment Mode
Annual
Monthly
10 years
50,000 p.a.
5,000 p.m.
15/20/25 years
25,000 p.a.
3,000 p.m.
Maximum
No Limit
Premium Payment Mode
- Monthly and Annual
Premium Payment Term
- You can choose any premium paying term from
- 10 years to 20 years (in complete years only). Premium payment term should always be lower than or equal to policy term.
