NEW CHILDREN’S MONEY BACK PLAN (Plan no.832)

This is a Money back policy with regular premium payment, Non-linked, Conventional, with-profits plan. Get attractive payouts at important stages of your child’s growth, because children grow up very fast!
Eligibility Conditions & Restrictions
Minimum age : 0 years
Maximum age : 12 years
Policy Term : 25 – Age at entry
Minimum Sum Assured : Rs. 1,00,000
Maximum Sum Assured : No limit
Premium payment : Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
Money back is paid : 18th year of child – 20% of Sum assured 20th year of child – 20% of Sum assured 22ndyearof child – 20% of Sum assured
Loan : Available after 3 years
Surrender : Available after 3 years
On maturity : 40% of the Sum assured + Bonus
Premium waiver benefit : Available from age 18 years to 55 years of proposer
Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Maturity amount / Death claim is non-taxable u/s 10(10d)