Child Future Plan Policy
Introduction:
This plan is specially designed to meet the increasing educational, marriage and other needs of growing children. It provides the risk cover on the life of child not only during the policy term but also during the extended term (i.e. 7 years after the expiry of policy term). A number of Survival benefits are payable on surviving by the life assured to the end of the specified durations.
Options:
You may choose Sum Assured (S.A.), Maturity Age, Policy Term, Mode of Premium payment and Premium Waiver Benefit.
Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or through Salary deductions over the term of policy. Premiums may be paid either for 6 years or upto 5 years before the policy term.
Sample Premium Rates:
Following are some of the sample premium rates per Rs. 1000/- S.A.:
| For 6 years’ Premium paying term | |||||
|
Age |
Maturity Age |
||||
|
|
23 |
24 |
25 |
26 |
27 |
|
0 |
112.55 |
108.00 |
103.65 |
99.45 |
95.45 |
|
4 |
132.35 |
127.00 |
121.85 |
116.90 |
112.15 |
|
8 |
156.20 |
149.90 |
143.85 |
138.05 |
132.45 |
|
12 |
184.20 |
176.85 |
169.75 |
162.95 |
156.40 |
|
For Premium paying term = Policy Term less 5 years |
|||||
|
Age |
Maturity Age |
||||
|
|
23 |
24 |
25 |
26 |
27 |
|
0 |
53.10 |
49.45 |
46.20 |
43.25 |
40.60 |
|
4 |
71.80 |
66.90 |
61.65 |
57.00 |
52.95 |
|
8 |
107.80 |
96.30 |
86.75 |
78.75 |
71.90 |
|
12 |
184.20 |
155.40 |
133.90 |
117.25 |
108.05 |
Mode and High S.A. Rebates:
Mode Rebate:
| Yearly mode |
– |
2% of Tabular Premium |
|
Half-yearly mode |
– |
1% of the tabular premium |
|
Quarterly & Salary deduction |
– |
NIL |
Sum Assured Rebate:
| Sum Assured |
– |
Rebate (Rs.) |
|
1,00,000 to 2,99,999 |
– |
Nil |
|
3,00,000 to 4,99,999 |
|
1.5 %o S.A. |
|
5,00,000 and above |
– |
2 %o S.A. |
Source : licindia.in
i wont to kids education plan for monthly payment & chart plan
my son will be 2 yr on 30 sept. plz tell me best sutiable policy for him
Magic Plan – Secure Child
child age 1 year ,Father age 30 years
The planning for your child’s secured future starts now when he is 1 years of age. For 17 years you will need to pay an amount of Rs. 30266/- per annum as premium towards the proposed insurance.
After 17 years, your child will be 18 years of age. He is expected to join college at this age. Hence there is a provision made for Rs.198928/- to be received in this year to meet the xtraordinary
costs of admission, coaching classes, attire, etc.
To ensure quality education and a comfortable lifestyle during his college period, this plan will provide cash every year as per the following table :-
Age Estimated Amount
18 198928
19 101122
20 106013
21 110775
Your Child will complete his graduation after 21 years. When he is 22 years of age. He may want to pursue post graduation abroad or may want to start business. Both these objectives will demand sizeable amount of money. This Magic Plan will make his dream come true with a lumpsum amount of Rs.612440/-
Dear Sir,
I create a jiwan saral policy, but if any not suggested this policy, pls.confirmation in this policy.
Thanks:-
From-
Yogesh