Children are the most precious blessings of God. Every parent strives to provide their little ones a perfect life and give them all that they desire. The increasing cost of giving your son quality education or your daughter her dream wedding requires you to have a financial plan well in advance.
Contributions made towards the plan are invested in various investment vehicles including equities, fixed interest instruments, bonds and other money market instruments. Diversification is achieved by selecting mix of instruments in order to optimize the returns. Funds are managed by a team of expert investment managers, who adjust the investment mix in light of economic conditions, market trends and investment opportunities.
You are entitled to two initial free fund switches at any time during every plan year and each subsequent switch would be charged at Rs.300
|Year||% of basic premium allocated to Unit account||Surrender changes as % of unit account value|
Minimum Cover Limit: 5
Maximum Cover Limit: 200
Note: Additional benefits are subject to Term & Conditions
|Policy Year||Continuation Bonus Unit Allocation as % to Basic Premium to Account Value|
|Management (& Administration) Charge||An annual charge of 1.75% of the Cash Value deducted on a monthly basis.|
|Bid/Offer Spread||5% of all premiums allocated to the Unit Account|
|Surrender Charge/ Partial withdrawals||The first two switches in a Policy Year are free. A charge of Rs. 300 will be made for any further switches in that Policy Year.|
To make sure that all your urgent monitory requirements are taken care of, the plan offers the option of making partial withdrawals from your account value after the plan has been enforce for 2 years.
Partial withdrawals can be taken up to four times in any Policy Year and are limited to 50% of the Net Cash Surrender Value subject to maintaining a minimum Net Cash Surrender Value of Rs. 10,000.
You can take a loan up to 50% of the net cash surrender value, which is the Account value minus surrender charge.
|Policy Terms & Eligibility|
|Minimum entry age||18 years (Age nearest Birthday)|
|Maximum entry Age||70 Years (Age nearest Birthday)|
|Minimum Policy term||10 years|
|Minimum Premium paying term||10 years|
|Maximum Policy term||40 years or up to age of 85 whichever comes first.|