As the name suggests, this plan is meant to take care of the needs of a child in the growing years- educational needs, etc.
the risk cover for the child’s life does not end with the policy maturity, it continues for an extended 7 years. One has the option of choosing the age of maturity, sum to be assured, premium payment mode, etc.
- In case of death, sum assured shall be paid with the bonuses.
- If the life assured dies in the extended term, amount payable will be equal to the sum assured.
- A benefit of auto cover is available, on the life of the assured, in case premiums after two consecutive years remain unpaid.
- Premium waiver benefit available in case the policy proposer is of an age between 18 and 55 years.
- Minimum age for entry is ZERO years and maximum is 12 years with maximum and minimum maturity age of 23 years and 27 years respectively.
- Corporation’s profits shared with this plan in the form of Simple Reversionary Bonuses.
- Policy will become paid- up if premiums after three full years remain unpaid.
- Policy can be surrendered for cash after payment of premium for full three years.