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Children Plans

• Children’s Deferred Endowment Assurance

- With Profits ( Table No. 41 & 50)• Jeevan Kishore with Profits ( Table No. 102)• Komal Jeevan ( Table No. 159)• Child Career Plan ( Table No. 184)• Child Future Plan ( Table No. 185)

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Children’s Deferred Endowment Assurance

with Profits (Table No. 41 & 50)• Very low rate of premium – large sum assured.

• Combines 2 periods

i) Date of Commencement to Deferred Date.

ii) Deferred Date to Date of Maturity.

• Child’s life risk starts at the age of 21 & 18 yrs respectively.

• Premium waiver benefit available – Extra premium.

• Age proof of Child & Proposer (if PWB is desired) compulsory.

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Parameters :

• Entry Age (Min.) : 0 yrs.

(Max.) : for Plan 41 - 17 yrs.

for Plan 50 - 14 yrs.

• Policy Term (Min.) : for Plan 41 - 13 yrs.

for Plan 50 - 11 yrs.

• Max. Policy Term : 50 yrs. (for both)

• Max. Age @ Maturity : 30 - 60 yrs.

• Min. S.A. : Rs. 50,000/-

• Max. S.A. : Rs. 1 Crore.

• Mode : All modes except SSS

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Benefits :

• Maturity Benefit = S.A. + Bonus ( if any).

• Death Benefit

- During Deferment Period only premium paid will

be refunded.

- After Deferment Period = S.A. + Accrued Bonus

+ Terminal Bonus (if any)• Cash Option - If deferment period is 10 ys or more, Cash Payment can be received with cancellation of policy.

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Jeevan Kishore with Profits (Table No. 102)

• Father as well as Mother if earning can propose.

• Grandparents can avail with permission letter of parents.

• Risk commence from 2 yrs of policy anniversary or at the age

of 7 yrs, whichever is later.

• Lump sum amount on maturity can be used for higher

education, marriage, etc.

• Non-medical if child is more than 10 yr old.

• If child is 5 yr or more old & not going to school, policy can’t be

issued.

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Parameters :

• Entry Age (Min./Max.) : 0/ 12 yrs.

• Policy Term (Min./Max.) : 15/ 35 yrs.

• Min. S.A. : Rs. 50000/-

• Max. S.A. : Rs. 4000000/- ( in multiples of Rs.5000/-)

• Mode : Y/H/Q/Single premium

• Accidental Benefit

a) after 25 yrs – without extra charge, up to Rs. 100000/-.

b) after 18 yrs – with Rs. 1/- per 1000 S.A.

• P.W.B. is inbuilt till Child attains age of 18 yrs.

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Benefits :

• Maturity Benefit = S.A. + Rev. Bonus

+ Final Additional Bonus (if any)

• Death Benefit

- Before Commencement of Risk, only premium paid will

be refunded.

- After Commencement of Risk = S.A. + Accrued Bonus

+ Final Additional Bonus (if any)

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Komal Jeevan (Table No. 159)

• Guaranteed Addition of Rs. 75/- per 1000 S.A.

• Money Back Pattern

• Premium ceases when child attains age of 18 yrs.

• Non-medical for child.

• Suitable provision for higher education need of child.

• Risk starts either at the age of 07 yrs or 2 yrs after policy date

whichever is later

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Parameters :

• Entry Age ( Min/Max) : 0 - 10 yrs.

• Premium Paying Term : Max. 18 yrs.

Min. 08 yrs

• Maturity Age : 26 yrs.

• Min. S.A. : Rs. 100000/-

• Max. S.A. : Rs. 5000000/- ( in multiple of Rs. 25000/-)

• Mode : S/Y/H/Q/SSS

• Revival : Yes.

• Premium Waiver Benefit : Available.

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Benefits :

• Survival Benefit :

At 18 yrs - 20 % of S.A.

At 20 yrs - 20 % of S.A.

At 22 yrs - 30 % of S.A.

At 24 yrs - 30 % of S.A.

At 26 yrs - Guaranteed Addition + Loyalty Addition.

• Death Benefit :

- Before Risk Commencement, policy terminate with refund of premium

paid ( excluding PWB & Term rider Premium)

- After Risk Commencement = Full S.A. + Guaranteed Addition

+ Loyalty Addition.

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Child Career Plan (Table No.184) &

Child Future Plan (Table No.185)

• Designed to meet increasing need for education, marriage, etc.

• Extended life cover for 7 yr after maturity.

• Risk cover starts after 2 yrs of policy or 7 yr whichever is later.

• PWB can be availed.

• Father as well as mother (Class I/II/III) can be a Proposer.

• Grandparents with permission letter of parents can propose.

• Auto-cover available, if premium paid for atleast 2yrs. Life risk

continues for next 2 yrs if premium not paid.

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Parameters :

• Entry Age of child ( Min/Max) : 0/ 12 yrs.

• Entry Age of Proposer (Min/ Max) : 18/ 55 yrs.

• Maturity Age ( Min/Max) : 23/ 27 yrs.

• Min S.A. : Rs. 100000/-

• Max. S.A. : Rs. 10000000/- ( in multiples of Rs. 5000/-)

• Premium Paying Term : 6 yrs or ( Term – 5 ) yrs.

• Policy Revival : Yes.

• Risk Commencement :

a) Child’s Age < 10 yrs – After 2 yrs of policy date or on completion of 5 yr.

b) 10 yrs < Child’s Age < 12 yrs – At the age of 12 yrs.

c) Child’s Age > 12 yrs – Immediately.

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Benefits :

• Maturity Benefits :

Table 184 Table 185

5 yr before

30 % S.A.+ Rev. Bonus

25 % S.A.

4 yr before

15 % S.A. 10 % S.A.

3 yr before

15 % S.A. 10 % S.A.

2 yr before

15 % S.A. 10 % S.A.

1 yr before

15 % S.A. 10 % S.A.

On Maturity

15 % S.A. + FAB 50 % S.A.+ Rev. Bonus+FAB

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• Death Benefit :

i) Risk Commencement to 5 yrs prior of maturity –

= S.A.+ Rev. Bonus + FAB

ii) During 5 yrs of policy maturity –

= S.A. + FAB.

iii) During Extended Life Cover –

= S.A.

iv) Before Risk starts –

= All premium paid (excluding extra & PWB premium)

+ @ 3% per annum accrued interest.

v) During Auto-cover –

= S.A. – Unpaid Premium + Bonus if any

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Thank You !• Pramod Patil• Vijay Ambuskar• Charandas Bulkunde• Sandip Deoghare• Manish Wakodikar

• Guided By – Mr. R.S.Umale Sir