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Death Benefit
This plan helps you remain at peace knowing that your child'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.
Premium Options
There are attractive discounts on premium allocation charge in case you choose to pay renewal premiums through ECS/Standing Instructions.
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 6 investment funds with equity exposure ranging from 0% to100%, depending on your investment philosophy:
- India Multi-Cap Equity Fund
- Equity II Fund
- Growth Plus Fund
- Balanced Plus Fund
- Debt Plus Fund
- Liquid Fund
Milestone Withdrawal
Keeping in mind the expenses for higher education of your child, you can opt for milestone withdrawals (Applicable for policy term 15, 20 and 25 years) wherein you will receive 15% of fund value in each of the last 5 years. The remaining fund value will be given to you at maturity.
Tax Benefits#
You may be entitled to certain tax benefits as per the 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. Vijay, age 40, chooses to pay annual premiums as shown below. He opts for a Sum Assured of 10 times the annual premium and a Premium Paying Term of 20 years. The table below shows the maturity for multiple scenarios assuming annual gross investment return of 4%* and 8%* with 100% investment in Equity II Fund, ECS as Premium Payment Mode and Coverage Option Death.
Annual Premium (₹)
Sum Assured (₹)
Fund Value (₹) at Maturity
4%*
8%*
25,000
2,50,000
5,37,235
8,48,645
50,000
5,00,000
10,74,470
16,97,290
75,000
7,50,000
16,11,704
25,45,935
1,00,000
10,00,000
21,48,939
33,94,581
2,00,000
20,00,000
42,97,878
67,89,161
5,00,000
50,00,000
1,07,44,695
1,69,72,903
*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
60 years
Child (Beneficiary at proposal stage) should be less than 18 years
10/ 15 / 20 / 25 years
Minimum
For ages below 45:
10,15,20 years term: 10 x Annualized Premium
25 years term: 12.5 x Annualized Premium
For ages 45 & above:
7 x Annualized Premium
Maximum
No maximum limit,
subject to underwriting
Annualized Premium means the amount of premium payable in the policy year that is selected by policyholder at the inception of the policy.
- Annual Premium
Minimum
₹ 25,000
( ₹50,000 for policy term of 10 years)
Maximum
No Limit
- Premium Payment Term
Minimum
10 years
Maximum
25 years
(maximum up to policy term)
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