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 |
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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) | - |
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) |
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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 | 20% of sum assured payable after 5th, 10th and 15th year of the policy.On Maturity:40% of Basic Sum Assured + Vested Bonus + FAB if any |
On detection of Major Stage Cancer | - |
Settlement 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 benefit is opted |