Children’s Endowment Plan
This is a with profits endowment assurance plan available for children of 10 years or less. Sum assured plus vested bonus is payable on survival to the end of the term.
- In case of the death of the life assured before the commencement of risk, the policy shall stand cancelled and premiums paid (excluding the premiums for PWB) till death, under the policy will be refunded in full.
- In the event of unfortunate death during the term of the policy after commencement of risk but before maturity, Sum Assured becomes payable together with the vested bonus.
- The proposer can avail Premium Waiver Benefit under these plans upto the age of 50 years nearer birthday at entry on payment of an additional premium. By payment of this additional premium, the premiums are waived from next due falling on or after the death of the proposer.
- Risk under these plans will commence either 2 years after the date of commencement of the policy or from the policy anniversary falling immediately after the completion of 5 years of age, whichever is later.
- Minimum Sum Assured is 50,000 and Maximum Sum Assured is 50 Lakhs.