It is a non-participating, regular premium, individual life insurance plan which offers life insurance cover cum savings throughout the term of the policy.
Guaranteed Additions at fixed intervals as per percentage of Annualized Premium
Below are the Investment Fund Types to provide Long Term Capital appreciation. You can select the Fund of your choice.
Flexi Growth Fund
Flexi Smart Growth Fund
Tax Free returns up to 2.5 Lacs
Four free switches during a policy year
Age Eligibility as per Basic Sum Assured:
Age at Entry | Sum Assured |
90 days (completed) to 50 years (nearer Birthday) | 7 times or 10 times of Annualized Premium |
51 years (nearer Birthday) to 60 years (nearer Birthday) | 7 times of Annualized Premium |
Policy Term depending on Annualized Premium
Annualized Premium | Policy Term |
Less than Rs. 48,000 | 15 to 25 years |
Rs. 48,000 and Above | 10 to 25 years |
Premium Paying Term is Same As Policy Term
Guaranteed Additions as per percentage of Annualized Premium
End of Policy Year | Annualized Premium | |
Less Than Rs. 48,000 | Rs. 48,000 and Above | |
6 | 3% | 5% |
10 | 6% | 10% |
15 | 12% | 20% |
20 | 15% | 25% |
25 | 18% | 30% |
Death Benefits
Before Commencement of Risk: Fund Value as on death
After Commencement of Risk:
Higher of…
Basic Sum Assured reduced by any Partial Withdrawals made during the two years period immediately preceding the date of death
OR
Unit Fund Value as on date of Intimation of Death
OR
105% of total premiums received up to the date of death reduced by Partial Withdrawal made during the two years period immediately preceding the date of death
Maturity Benefits
Options available under the Plan
With rising education prices and to provide a high-profile lifestyle to your child, every parent must consider buying child plans. So, let us discuss more factors that will help us understand why we need to consider buying child plans.
If you plan to send your child abroad or he/she aspire to study where education is costly, the child insurance will not let you think a second time. The child plans will ensure that you are not short of money when needed the most.
One of the purposes of having a child plan is to ensure that the child gets the lump sum payment in case of the policyholder’s demise. The amount of money given is usually sufficient to cover future expenses.
The investment options allow you to build a good amount of money for the child. If you pay your premium regularly, you will be eligible to meet future obligations without any problem
Child plans make sure you establish a routine of investing and saving for your child’s future, allowing you to fend off the consequences of inflation, which is a rising problem all over the world.
A few child plans give children a recurring income equal to 1% of the amount assured. It ensures you get an income benefit, making buying child plans a plus.
To apply for buying child insurance in India, you would need certain documents to ensure smooth and hassle-free enrolment.
| Basis | Term Insurance Plan |
|---|---|
| Income Proof | Income tax returns and other income proofs to ensure you can pay for the policy. |
| Address Proof | Electricity bill, Ration card, Telephone bill, Passport, Driving License |
| Age Proof | Birth Certificate, Passport., 10th /12th Mark sheet |
| Identity Proof | Aadhaar Card, PAN Card, Passport ID, Voter ID |
8076729945
support@suryakantinsurance.in
