Asian Insurance Plan-CHILD ENDOWMENT PLAN

CHILD ENDOWMENT PLAN

Terms and Conditions

1. Minimum Age at Entry : 0 years

2. Maximum Age at Entry : 10 years

CHILD ENDOWMENT PLAN

3.Term : 18 minus age at entry

4. Maximum Maturity Age : 18 years

5. Minimum Sum Assured : Rs.50000

6. Maximum Sum Assured : Rs.1000000

7. Premium Paying Modes : Yearly, Half-yearly, Quarterly

8. Large Sum Assured Rebate :
Rs .251000 to 500000 : Rs.1 in Basic Premium
Rs. 501000 and above : Rs.2 in Basic Premium

9. Mode Rebate :
Yearly :less 2%

Half-yearly : less 1%

Quarterly : No

10.Commencement of Risk :
Risk of the Child will commence either 2 years after the date of commencement or from the policy anniversary falling immediately after the completion of age 6 of child, whichever is later.

11.Vesting of Policy
The Policy will vest in the Life Assured from the policy anniversary following his completing age of 16 years.

12. Maturity Benefit

The Sum Assured along with vested bonus is payable on Date of Maturity .

13. Death Benefit :
*In case the Life Assured (Child) dies any time after commencement of risk, full Sum assured with the vested bonuses will be paid.
* In case of Life Assured (Child) dies before Commencement of Risk, all the premium paid excluding extra premiums will be refunded.14. Optional Benefitsa. Premium Waiver Benefit (PWB)By payment of an additional premium, The proposer can take PWB benefit.If the proposer dies or permanent and total disablement due to accident in policy running period, the reamining premium will be waived.b. Monthly Educational Benefit (MEB)By payment of an additional premium, The proposer can take MEB benefit.If the policy is running,an amount equal 1% of the basic sum assured is payable after the death of the proposer till the date of maturity of the policy. Note : Monthly Educational Benefit will be allowed only if Premium Waiver Benefit is opted.

POST By Bijay Thapa. bijay-lifeinsurance.blogspot.com