Children’s Marriage and Education Endowment Life Assurance
Child
About this plan
An endowment life plan targeted to save for a child’s marriage and education. Provides maturity benefits at the end of the policy term and a death benefit in case of the life assured's demise.
What's included
Key highlights
- Child-focused endowment plan
- Maturity payout for education/marriage
- Participating plan with expected bonuses
Features
- Savings tailored for child’s marriage and education
- Maturity benefit payable at policy maturity
- Death benefit payable on life assured’s death
- Participating (bonus‑bearing) traditional endowment plan
- Loan available upto 90% of Surrender value
Eligibility & term
- Entry age
- 18 – 65 years
- Policy term
- 10 – 21 years
- Sum assured
- Rs 50,000 – Rs 20,00,000
- Premium modes
- Yearly, Half-yearly, Quarterly, Monthly
Benefits payout
- Death benefit
- Sum Assured + Bonus (as declared)
- Maturity benefit
- Sum Assured + Bonus
- Accidental benefit
- Additional benefit if accidental death rider taken
Declared bonus
Term-wise Breakdown
FY 2083/84
| Tenure (Years) | Rate (per '000) |
|---|---|
| 0-30 | Rs. 60 |
Reversionary bonus rates declared for the latest fiscal year based on policy term. Rates are revised annually and are not guaranteed for future years.
Optional riders
Accidental death (ADB)PTD / PWBCritical illness (CI)
Accidental Death Benefit Rider
Additional benefit on accidental death
Critical Illness Rider
Benefit on diagnosis of a critical illness
Loan & liquidity
- Policy loan
- Available
- Surrender allowed
- After 3 years
- Paid-up value
- Yes
- Partial withdrawal
- No
What's not covered
- Suicide within policy's initial exclusion period
- War, civil commotion, terrorist acts
- Pre-existing conditions not disclosed
- Illegal acts or self-inflicted injuries
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