CHILD FUTURE PLAN LIC POLICY

CHILD FUTURE PLAN LIC POLICY:-
 Features of plan
 Life Insurance Corporation has introduced a new with profit child future plan (Table No.185) w. e. f. 8th February 2007. this plan meets the increasing educational and other need of growing children providing the risk cover on the child's life during the policy term as will as extended term .This is a child lic policy.

Plan parametersAge at entry: min. 0 yrs. (LBD) max. 12 yrs (LBD)
Maturity age: min. 23 yrs. (LBD) max. 27 yrs (LBD)
Sum assured: min. 1lac max.1cror
S.A in multiples of: Rs.5000
PPT: 6 yrs. & policy term- 5 yrs
Mode of payment: YLY/ HLY/QLY
Policy loan: No
Housing loan: No
Assignment: No by the proposer, but assignable after the policy has vested in the life assured
Revival: yes

Benefit

Death benefit: on death after the date of risk commencement.

1. if death occurs within the period from the date of risk commencement to 5 years before expiry date of policy term: sum assured + vested simple reversionary bonuses + F.A.B, if any, is payable. I
2. if death occurs within 5 years before the expiry the date of policy term: sum assured + F.A.B if any, is payable.
3. on death during the extended term: sum assured is payable.
4. if death occurs before the date of risk commencement: all the premium paid (excluding premium for extra and PWB, if any) + interest @ 3% p.a. compounding yearly shall be payable.

Contact for insurance:- Sanjay Tomer
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