Plan Features
Children's Money Back (932)
Product Summary
Children's Money Back plan is a regular premium, non linked children's plan, to help planning for the education and or marriage of children
Premium Payment Mode :
Yearly, Half Yearly, Quarterly, Monthly(SSS and NACH)
Annuity Mode
-
Optional Benefits
-
Term :
25 - age at entry
Premium Paying Term :
-
Minimum Age at Entry :
0 Year last birthday
Maximum Age at Entry :
12 year last birthday
Annuity Options
-
Minimum Purchase Price
-
Deferment Period
-
Joint Annuity
-
Maximum Cover Ceasing Age:
-
Maturity Age:
-
Sum Assured
-
Maturity Benefit
-
Death Benefit
-
Minimum Basic Sum Assured :
-
Minimum age at the end of Premium Paying Term
-
Maximum Maturity Age :
Not applicable
Minimum Premium:
-
Maximum Premium:
-
Minimum Basic Sum Assured :
-
Sum Assured on Death
-
Minimum Sum Assured :
Rs. 1,00,000
Maximum Sum Assured :
No Limit (Subject to other conditions)
Guaranteed Additions
-
Survival Benefits
-
Riders Available
No riders for life assured but Premium Waiver Benefit (PWB) available for proposer.
Accidental Death and Disability benefit (ADDB) :
-
Policy Benefits
On Death :
On death before date of commencement of risk : An amount equal to the total amount of premiums paid excluding, extra premium and rider premium, if any shall be payable. On death after the date of commencement of risk: Sum Assured on death + vested Simple Reversionary Bonus and Final Additional Bonus (if any).
On Survival :
On completion of age 18 Years - 20% of Maturity Sum Assured. On completion of 20 years of age - 20% of sum assured. On completion of 22 years of age 20% of sum assured, On Maturity at age 25 years 40% of Maturity Sum Assured + FAB.
On detection of Early Stage Cancer
-
On detection of Major Stage Cancer
-
āSettlement Option :
-
Multiple Allowed
-
Surrender Value :
Policy can be surrendered at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy.
Loan :
Loan can be availed at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy.
Income Tax Benefit :
Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act.
Proposal Form :
Form No 360 + 300 if premium waiver benefitĀ isĀ opted.