The sum assured should be in multiples of Rs 10,000
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 this plan
Rebate in Premium
Large Sum Assured
Mode of Payment of Premium
Loans: Not available
Surrender Value: Available after completion of two years from date of commencement and payment of two full years premium
At Maturity(completion of premium paying term)
If the life assured is alive during the premium term and up to maturity, than annual payments @ 20% of sum assured is paid as per following:
Note: - Above payments are available if all the premiums have been paid.
After death of Life assured
Death before risk commences refund of all the premiums excluding rider premiums and without any bonus.
Death during risk period : Payments to be made
Basic sum assured + vested bonus to nominee or legal guardian payments made.
Payments made on yearly basis shall not be deducted from claim amount
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: Contact at Surya Life Insurance Company for detail information.
First Policy Issued Date : 05.10.2008