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:
Mode of Payment of Premium
Loan: Facility of loan available after 16 years age of life assured but only in endowment plan
At maturity: Sum Assured + Vested Bonus
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 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.
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.
Critical Illness Benefit (18 Diseases) : This rider is available after paying additional premium.
18 Diseases :-
1. Cancer of Specified Severity.
2. Kidney failure requiring Regular dialysis.
3. Multiple Sclerosis with persisting symptoms.
4. Major organ/Bone Marrow transplants(as recipient).
5. Open Heart Replacement or Repair of Heart valves.
6. Open chest CABG ( Coronary Artery by-pass graft ).
7. Permanent paralysis of Limbs.
8. Myocardial infarction ( First Heart Attack of specific Severity).
9. Stroke Resulting in Permanent Symptoms.
10. Benign Brain Tumor.
11. Alzheimer's Disease.
12. Coma of specified severity.
13. End Stage Liver failure.
14. Parkinson's disease.
15. Aorta Graft surgery.
16. Third degree burns.
18. Loss of speech.
Note: For futher detail information contact at Surya Life Insurance Company.
First Policy Issued Date : 23.09.2008