Bal Amrit (Endowment) Policy - 1

This policy is Endowment Assurance with profit plan designed to provide education and other expenses of the child in case of death of the proposer.

Policy Requirements


  • Entry age
: 1 Year to 15 Years
  • Proposer Entry Age
: 20 to 50 Years
  • Minimum Policy Term
: 6 Years
  • Maximum Policy Term
: 20 Years
  • Minimum Sum Assured
: Rs. 50,000/-
  • Maximum Sum Assured
: Rs. 5,000,000/-
  • Premium Payment Frequency
: Yearly, Half Yearly, Quarterly, Monthly
  • Proposer
: Mother, Father or Legal Guardian
  • Age Computation
: Age Next birthday

Risk Commencement
Proposer's risk will be covered from the commencement of policy. Assured risk will be covered at the age of six and two years payment has been made from the commencement of policy.

Survival Benefit in case of Assured

On the survival of Assured (Child)
Sum Assured plus bonus on maturity
On the death of Assured (Child)
Death before commencement of risk, paid premium with 3% annual interest shall be paid
Death After commencement of risk, Sum Assured Plus Accured Bonus shall be paid.

Condition applied on Proposer

  • In case of death of proposer, Maximum Rs. 1,000,000.00 under term cover benefit or sum assured whichever is lower, shall be paid to the assured (child).
  • Premiums are waived on death/ after permanent disablement of the proposer

On the death of the proposer, sum assured will be payable as follows:

  • 25% of sum assured before 2 years of maturity
  • 25% of sum assured before 1 year of maturity
  • 50% of sum assured plus Accrued bonus on maturity

Accidental death benefit(ADB) is not applicable

Other benefits:

  • Paid up and surrender claim shall be provided
  • Loan Facility provided.
  • Tax exemption as per ITA,2058