If you are worried about the educational expenses of your children, Jeevan Anurag is the plan best suited for you.
It is a child plan and is categorized under with profit plans. The life assured under this plan is either the child’s parent or his guardian. Whatever are the benefits under this plan, they shall be paid to the child after a pre-specified time lapses.
20% of the basic sum assured you have chosen,will be paid during the last three policy years, at the beginning of the year. And at the time of maturity, 40% of the sum assured plus revisionary benefits on full assured sum along with the terminal bonus will be paid.
- Child need not go through the official proceedings.
- Guaranteed payment of the sum in case the life assured dies during the policy term.
- Policy can be surrendered in exchange of cash after it has been kept in force by premium payment for a period of a minimum three years.
- In case you avail the critical illness rider under this policy, all premiums to be paid in the future will be waived, if diagnosed with any condition that is critical in nature.