Surya child Endowment Plan


Features:
 
  • Minimum Age at Entry   : 0 Year ( Nearest Birthday)
  • Maxmium Age at entry : 15 Years ( Nearest Bithday)
  • Minimum Term : 10 Years
  • Maximum Term : 30 years
  • Minimum maturity Age : 16 Years (Nearest Birthday )
  • Maximum Age at maturity : 30 Years (Nearest Birthday)
  • Minimum Sum Assured : Rs.50,000
  • Minimum Sum Assured : Rs. 20,00,000
  • Sum Assured  : Multiple of 1,000
  • Premium Paying Mode : Yearly, Half Yearly, Quarterly
  • Risk Commencement Age: Assured age 6 years or after 2 years date of commencement (which occur later)
Risk to commence at age for this plan
  
Risk to commence at age 6 years age of the child or two years after commencement of policy, which ever takes place later. However in case of policy purchased on the life of child aged 15 years the risk shall commence one year after commencement. The premiums need to be paid regularly.
 
Vesting age: 16 years completed for all these plans
 
Rebate in Premium (for all these plans)
 
 Large Sum Assured:
 
  • No rebate in sum assured upto Rs 249,999/-
  • Sum Assured Rs 250,000 to Rs 499,999/- Rs 1 per thousand in tabular premium.
  • Sum Assured Rs 500000 and above- Rs 2 per thousand in tabular premium.
     
Mode of Payment of Premium
 
  • Quaterly no discount
  • Half yearly 1% discount of tabular premium
  • Yearly 2% discount of tabular premium

Loan: Facility of  loan available after 16 years age of life assured but only in endowment plan

Medical Examination
 
  • Necessary if proposer has opted for riders
  • Necessary if life assured (childs) age 10 years or more
 
Benefits
At maturity: Sum Assured + Vested Bonus

After Death:
Before commencement of risk: Refund of all premiums excluding premium charged for riders without bonus to be paid to legal guardian.
After commencement of risk: Sum Assured + Vested Bonus
Bonus: At maturity or after death during risk period which ever event takes place earlier from the date of commencement of policy
Surrender value (in all plans): Available after payment of 2 full years of premium and completion of two years period
 
Bonus:
 
Bonus is available on this policy plan from the date of commencement till maturity or death whichever event takes place earlier if the risk has commenced. However no bonus is available if the death is during no risk period.

Riders Benefit

Premium Waiver Benefit:- 

This benefit is available to proposer after payment of extra premium as per age of proposer and were of the policy till 16 years of child (life assured) or 60 years of proposer which even is earlier. Under this rider the premium of the policy are walked form the next anniversary of policy after the death of proposer till 16 years child or till 60 years of proposer which ever occurs first and policy is kept inforce. 
 
Monthly Income Benefit:- 

This benefit is available to proposer after payment of extra premium as per age of proposer and term of policy till 16 years of child (life assured) or 60 years of proposer which ever is earlier. Under this 1% of rider sum assured is paid to the child on monthly basis from the next month after the death of proposer per condition cited return. 

Condition:-   
  • Age 16 of child and age 60 of proposer which ever is earlier up to which benefit is available. 
  • Proposer proof of age of proposer 
  • Maximum cover available up to Nrs. 5 lakhs under the entire child plan purchased by proposer from Surya Life insurance Company
  • Medical examination of proposer is must. 
  • In case life assured age is 10 years or more his/her medical examination is necessary.

 
Note:  For futher detail information contact at Surya Life Insurance Company.
First Policy Issued Date :  23.09.2008
 
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