| Minimum term |
15 years |
| Maximum term |
35 years |
| Minimum sum assured |
Rs 10,000 |
| Maximum sum assured |
|
| For child aged below 10 years |
Rs 5,00,000 |
| For a child aged 11 years |
Rs 10,00,000 |
| Minimum maturity age |
20 years |
| Maximum maturity age |
45 years |
- For children aged 1 to 4 years, certified extracts from municipal records or horoscope
or baptism certificates, will be accepted as age proof if submitted along with a
declaration signed by both the parents
- For children aged 5 to 11 years, certified extracts from school records will have to
submitted
- This is an improved version of the New Children's Deferred Assurance plan. Parents or
legal guardians can propose the policy for children between ages 1 and 12 years, with risk
commencing at an early age
- Parents can propose the child’s life
- The Plan is basically endowment type .i.e. sum assured is payable either on survival to
the term or on death happening within the term
- For children aged 1 to 4 years, risk commences from policy anniversary after attaining
age 7 years
- For children aged 5 to 10 years, risk commences from second policy anniversary from the
date of commencement of policy
- For children aged 11 years, risk commences from first policy anniversary from the date
of commencement of policy
- On death of child during waiting period all premiums are refunded
- In case, the proposer i.e. the parent happens to die during the deferment period, the
policy has to be continued by regular payment of premiums. (However, by payment of an
additional premium, the proposer can secure a waiver of premiums i.e. premium need not be
paid on proposer's death till date of vesting)
- Once the risk is commenced, sum assured is payable on survival to term or on earlier
death of life assured i.e. the child
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