Children's deferred endowment assurance vesting age 18 -with profit

This plan of assurance is designed to enable a parent or a legal guardian or any near relative of the child to provide for the child, by payment of a very low rate of premium, an Endowment Assurance Policy, the risk under which will commence at a selected age. The policy envisages two stages, one covering the period from the date of commencement of the policy to the Deferred Date(that is the date of commencement of the risk on the child's life) called the Deferment Period, and the other covering the period from the Deferred Date to the date on which the policy emerges as a claim by the death of the child or its survival to a stipulated date. A combine policy will be issued covering both the aforesaid periods. Ordinarily, policies under this scheme will be issued on the lives of children, both male and female, who have not completed 18 years. Option is available as regards the age of commencement of risk on the child's life which may be18(complete) or 21 years as desired.

The chief advantage of this scheme is that an assurance for a relatively large amount can be secured to a child on reaching the selected age for a premium substantially smaller than what would be required if the assurance were to be effected at the age and this irrespective of the state of the child's health then.

No loans will be granted on these policies during the deferment period.

Under this plan, the proposal will not be completed unless the age is proved.

The minimum amount for which a policy will be issued under this plan is Rs.10000.

Maximum term of policy shall be 50 years and the maximum age at maturity shall be 60 years.

Assurance vesting at Age 18.


Child's Age/Annual Premium/Cash Option Details:

0/Rs.23/Rs.645 - 2/Rs.26.75/Rs.631.20 - 4/Rs.31.25/Rs.610.90 - 6/ Rs.36.85/Rs.585.00 - 8/Rs.43.95/Rs.551.40 - 10/ Rs.53.10/No Cash Option - 12/Rs.65.40/No Cash Option -

14/Rs.82.50/No Cash Option

0/Rs.18.70/Rs.524.70 - 2/Rs.21.45/Rs.506.10 - 4/Rs.24.70/Rs482.80 - 6/ Rs.28.65/Rs.454.80 - 8/Rs.33.40/Rs.419.00 - 10/ Rs.39.30/No Cash Option - 12/Rs.46.75/No Cash Option -

14/Rs.56.25/No Cash Option

0/Rs.15.45/Rs.433.50 - 2/Rs.17.55/Rs.414.10 - 4/Rs.20.05/Rs.391.90 - 6/ Rs.23.00/Rs.365.10 - 8/Rs.26.50/Rs.332.40 - 11/ Rs.33.10/No Cash Option - 12/Rs.35.80/No Cash Option -

14/Rs.42.00/No Cash Option

0/Rs.12.95/Rs.363.40 - 2/Rs.14.65/Rs.345.70 - 4/Rs.16.65/Rs.325.50 - 6/ Rs.18.95/Rs.300.80 - 8/Rs.21.65/Rs.271.60 - 11/ Rs.26.60/No Cash Option - 12/Rs.28.55/No Cash Option -

14/Rs.33.05/No Cash Option

0/Rs.11.00/Rs.308.60 - 2/Rs.12.40/Rs.292.60 - 4/Rs.14.05/Rs.274.60 - 6/ Rs15.90/Rs.252.40 - 8/Rs.18.05/Rs.226.40 - 10/ Rs.20.55/No Cash Option - 12/Rs.23.50/No Cash Option - 14/Rs.26.90/No Cash Option