This policy aims at securing child higher education. This plan helps to meet the financial needs of child for higher education in which certain percentages of sum assured are paid to life assured at certain fixed intervals. Total Bonus will be paid to the insured at the maturity of the policy.
Payment percentage of sum assured and time interval is as follows:
|Payment Time||Payment %|
|17th birthday of insured||20% of sum assured|
|18th birthday of insured||20% of sum assured|
|19th birthday of insured||20% of sum assured|
|20th birthday of insured||20% of sum assured|
|At Maturity||20% of sum assured along with total bonus|
The salient features of the plan are as follows:
Special features of the policy:
Rider Benefits available on Sanima Baal Saugat Plan:
Premium Waiver Benefit (PWB):
In case of untimely demise of the proposer within premium term, remaining premium will be waived.
Term Life Insurance (TLI) :
In case of availing term life insurance by the proposer, Basic sum assured will be paid to the nominee in the event of untimely demise of the proposer with in the policy period. To avail term life insurance, a separate proposal form is to be filled by proposer and separate policy file will be issued.
Discounts on sum assured:
|Sum assured||Discount per thousands|
|Below Rs 200000||No discount|
Discounts on payment mode: