EDUCATION PLAN
Give your children's professional life a better chance
In today's competitive environment, gearing a child's potential to fruition requires significant financial means which does not come easy to the majority of us.
Of course, the earlier you start, the better the growth. And the easier it is, in due time, to endow your children either with the necessary funds to start out on their own in life or the required funding to embrace higher studies.
With us, you can give them the crucial keys to their own happiness. And that, even if you should not be there to see it happen. This is what parents' responsibility is all about.
Product Features
| Type of policy Unit linked | Unit linked |
|---|---|
| Can be effected on | Single Life only |
| Age at entry for child Age at entry for parent |
Min. 1 day - max. 11 years (actual age) Min. 18 actual age - max. 55 years (actual age) |
| Frequency of premiums | Monthly or single |
| Minimum monthly premium Minimum single premium |
- Rs 500 - Rs 25,000 |
| Death or TPD benefits | On Death or prior TPD of the insured parent, the future premiums up to the policy anniversary date following age 18 will be waived and an income corresponding to the basic monthly contribution will be paid to the beneficiary until the same date. |
| Cover provided | Death, Total and permanent disability & Accidental death benefit |
| Accidental death benefits | A capital equal to 100 times the current premium will be payable immediately provided there has been no prior TPD claim |
| Flexibility | Cash in full only is applicable |
| Minimum return | 2.5% p.a. on amount invested |