Policy Term Year | Premium Payment Term |
---|---|
10 | 5,8 5,8 |
15 | 5,10,12 |
20 | 5,10,15 |
25 | 5,10,15, 20 |
*Maximum Sum Assured will be limited the following regulations:
Risk of the Life Assured (Child) will commence either 2 years after the date of commencement of the policy or upon completion of 6 years from the date of birth of child whichever takes place later.
If the age at entry of the Life Assured (Child) is 15, the risk commencement date will be 1 year after the date of commencement of the policy.
Survival Benefit will be paid according to the table below:
Benefits as percentage of Basic Sum Assured on Survival to (Complete years from Date of Commencement)
0 to 3 years | 4 to (U*-1) years | At Maturity At Maturity |
---|---|---|
– | 4% of SA | [125% of SA- (U-4) x 4% of SA] + Applicable Bonus |
*U = Policy Term |
In case of death of the Life Assured (Child) after the risk has been covered, 25% of the Basic Sum Assured will be paid immediately and remaining 75% of Basic SA and bonus earned till death will be paid in a lump sum at maturity of insurance policy.
If the Life Assured (Child) dies before risk commencement date, all the premium received for the basic insurance policy will be refunded.
On death or Total Permanent Disability of Proposer due to accident or sickness while the policy is active, following benefit will be provided:
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