(UIN No: 133N013V01)

Key Features :

We understand…

… that as a caring parent, you always want to be there for your children. That you want to be around to ensure that their education, careers and lives shape up well. This plan helps you make sure that your children will be adequately supported and that their financial needs will be taken care of even after your lifetime.

• Flexibility in terms of planning for your child’s future with wide range of solutions offered under the plan as,
  Option1: Future Child Benefit Plan Option @ 21 or
  Option 2: Future Child Benefit Plan Option @ 23
• Depending upon the option selected, regular payouts to provide money to meet educational expenses at different stages
• Sum Assured as a lump sum on the earlier of your unfortunate demise or total and permanent disability arising out of accident prior to maturity, whichever is earlier. The policy remains in-force for the remaining term and will continue to accrue guaranteed additions and future bonuses. Premiums are waived for the remaining term
• Guaranteed Additions @3.5% of Sum Assured per annum at a compounding rate at the end of each of the first five policy years.
• Compounded Reversionary bonuses thereafter
• Large Sum Assured Discount
• Tax benefits on premiums paid
• Benefits received are non-taxable

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Benefits :

Regular Payouts – As per the type of option selected under the plan

Fixed Benefits in form of regular payouts as per the options selected under the plan.

Option 1:
Future Child Benefit Plan @ 21:

Payable on the policy anniversary	% of Sum Assured
3 years prior to maturity	15%
2 years prior to maturity	25%
1 year prior to maturity	25%
At maturity	35% + Guaranteed additions + vested bonuses

Option 2:
Future Child Benefit Plan @ 23:

Payable on the policy anniversary	% of Sum Assured
5 years prior to maturity	10%
4 years prior to maturity	15%
3 years prior to maturity	15%
2 years prior to maturity	15%
1 year prior to maturity	20%
At maturity	25% + Guaranteed additions + vested bonuses

The benefits stated above will be payable at the specified intervals even if the life assured is not alive or is accidently totally and permanently disabled and the payment of premiums have been waived.

Guaranteed Additions

The compounding annual guaranteed additions under the policy are 3.5% per annum of the sum assured for the first five years of an in-force policy. This amount will become payable only at maturity of the policy.

Bonuses Accrued

From sixth year onwards, the policy shall participate in the profits arising out of the Company’s ‘with profits’ life insurance business. It gets a share of the profits emerging from this business in the form of bonuses. Compounded reversionary bonuses would be declared as a percentage rate, which apply to the sum assured and guaranteed additions in respect of the basic policy benefit and all attached bonuses. Reversionary bonus will be declared based on our long term view of investment returns, expenses, mortality and other experience. Once declared, the reversionary bonuses form part of the guaranteed benefits of the plan. Future bonuses are, however, not guaranteed and will depend on future profits.

Sum Assured on Death or Accidental Total and Permanent Disability – Inbuilt Benefit

On the policyholder’s unfortunate demise or total and permanent disability arising out of accident (whichever of two is earlier) before maturity, the sum assured is payable as a lump sum immediately. However, the policy will continue to remain in-force and will continue to accrue guaranteed additions and future bonuses, as the case may be. No further premiums will be payable.

Fixed assured benefits shall be paid on policy anniversaries prior to maturity and on maturity of the policy, the last installment along with the guaranteed additions plus bonuses accrued will be paid to the beneficiary.

The Life Assured will be regarded as Totally and Permanently disabled if, as a result of accidental bodily injury, resulting solely and directly from an accident caused by outward, violent and visible means,

• he /she has been rendered totally incapable of being employed or engaged in any work or any occupation whatsoever for remuneration or profit, or
• he/she has been rendered unable to perform (whether aided or unaided) at least 3 of the following 6 “Activities of Daily Living” :

  Activities of Daily Living

  • Washing:the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash satisfactorily by other means;
  • Dressing: the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical appliances;
  • Transferring: the ability to move from a bed to an upright chair or wheelchair and vice versa; -Mobility: the ability to move indoors from room to room on level surfaces;
  • Toileting: the ability to use the lavatory or otherwise manage bowel and bladder functions so as to maintain a satisfactory level of personal hygiene;
  • Feeding: the ability to feed oneself once food has been prepared and made available, or
• He / She has suffered the loss of (or the total and permanent loss of use of) both hands, and both feet, or both eyes, and a combination of any two.

The above disability must have lasted, without interruption, for at least six consecutive months and must be deemed permanent by an appropriate medical practitioner appointed by the Company.

Large Sum Assured Discount

Sum Assured	Future Child Benefit Plan @ 21 Single Premium	Future Child Benefit Plan @ 21 Regular Premium	Future Child Benefit Plan @ 23 Single Premium	Future Child Benefit Plan @ 23 Regular Premium
>= Rs 2 lakh; < Rs 5 lakh	50.00	10.00	70.00	10.00
>= Rs 5 lakh; < Rs 8 lakh	55.00	11.00	75.00	12.00
>= Rs 8 lakh; < Rs 10 lakh	57.00	11.50	77.00	12.50
>= Rs 10 lakh	58.00	11.70	78.00	12.70

Tax Benefits: As per prevailing Income Tax laws.

Premium Table

Click to view the premium table

Click Here To Calculate Premium (Site 1)

Click Here To Calculate Premium (Site 2)

Insurance is subject matter of solicitation

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