This is an Endowment Assurance plan that provides financial protection against death throughout the term of the plan. Couples having a child aged less than 1 year can take this policy without having to undergo any medical examination. Others with or without a child aged less than a year can also opt for the policy, but would have to undergo medical examination
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Besides payment of Sum Assured immediately on death, one-fourth of Sum Assured is payable at the end of each of last four years of policy term whether the life assured dies or survives the term of the policy. |
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Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions throughout the term of the policy or till the earlier death. |
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This plan is best suited for some one planning for children's higher education or marriage, as money back installments are payable in the last four years of the term chosen. |
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Bonus for the full term plus any additional bonus is payable on the date of maturity. |
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Premiums cease on death or on expiry of term whichever is earlier. |
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This plan can be availed for terms between 20 and 25 years. |
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Under this plan, irrespective of the life assured surviving the term, four equal instalments of the sum assured are payable in the last four years of the tenure of the policy |
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For example, for the term of the policy is 20 years, for every Rs 1,00,000 of sum assured, Rs. 25,000 each is payable at the end of 17th, 18th, 19th and 20th policy year. If the death occurs in the 18th year, full sum insured without bonus is payable immediately. The balance three instalments of one-fourth sum assured each, will be paid in the 18th 19th and 20th policy year |
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Minimum amount of Sum Insured - Rs. 30,000 |
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Minimum premium must be Rs.800 per annum |
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Minimum age at entry - 18 years completed |
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Maximum age at entry - 40 years |
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Maximum age at entry can be raised to 45 years if the original or attested birth or school certificate is submitted as age proof |
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Maximum maturity age - 65 years |
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For proposals without medical certificate, a declaration has to be given |
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Some restrictions apply for female lives |
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Insurance Services
Life Insurance Plans
Children Insurance Plans
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