Child’s Educational and Marriage Endowment Plan
This is an Endowment Assurance with profit plan that provides lumpsum on maturity date to meet the Educational /Marriage expenses of the children. In case of untimely death of the Assured, no further premium will be payable. All the benefits shall be paid on the maturity as per policy terms and conditions.
· Minimum Entry Age : 17 Years
· Maximum Entry Age : 60 Years
· Maximum Maturity Age : 65 Years
· Minimum Term Period : 5 Years
· Maximum Term Period : 25 Years
· Minimum Sum Assured : Rs. 10,000/-
· Maximum Sum Assured : As per income source
· Premium Payment Frequency : Yearly, Half Yearly, Quarterly and Monthly
· Nominee (child) age : Till age 16 yrs
· Age Computation : Age next birthday
On Maturity : Sum Assured plus bonus earned
On Death : Premium waived till maturity
Sum Assured plus bonus earned is paid to the nominee (child) on maturity
· Accidental Death Benefit (ADB) up to Rs. 2,500,000.00 in additional Rs. 1.00 per thousand.
· Waiver of Premium (WOP) benefit shall be taken in additional Rs. 2.00 per thousand.
· Paid up and surrender claim shall be provided
· Loan Facility provided.
· Tax exemption as per ITA,2058
· Rs. 1 Rebate is provided