Smart Kid - Regular Premium

How can I benefit form this plan?

• Complete protection: Lump sum payment of Sum Assured plus payment of future premiums by the Company in the unfortunate event of death of the parent (Life Assured)
• Development Allowance :Under this benefit, a specified amount is paid to the child every year, in the unfortunate event of death of the parent, if Income Benefit Rider is opted for.
• Facility to provide money for key educational expense of the child
• Protection against Accident and Disability: Additional protection against accident and disability is provided with the help of a rider at a marginal extra cost
• Tax Benefits : On premiums paid and benefits received, as per prevailing tax laws

• Guaranteed educational benefits:This plan guarantees educational benefits to your child. It provides you with two options to receive those benefits:
  • Option 1: Benefits at critical educational milestones
  • Option 2: Avail of benefits in the last 5 years of the policy
• Death benefit : In the unfortunate event of death of the parent (life assured) during the term of the policy, the benefits under the policy are as follows:
  • The Sum Assured would be paid out immediately
  • Future premiums till maturity will be waived off and the premiums would be paid by the Company till maturity of the policy
  • The policy benefits continue for your child's educational and developmental needs as planned by you.
• Developmental Allowance : This guarantees a regular income to secure your child's academic career as well as his all round development (in the unfortunate event of death) of the parent). To avail of this benefit, you have to take the Income Benefit Rider available at a marginal extra cost. An amount equal to 10% of the Rider Sum Assured will be paid annually to your child, till the maturity of the policy.
• Additional Rider Benefits : This is an additional benefit which can be availed along with the base plan, by paying a marginal extra cost. The riders offered are:
• Income Benefit Rider
• Accident and Disability Benefit Rider

• Can I surrender my policy?
  The policy can be surrendered only when the life assured is alive. The policy will acquire a surrender value and a Paid-up value after premiums have been paid for at least three consecutive years


• Guaranteed Surrender Value
  If premiums are paid for at least three consecutive years, the Policy acquires a Surrender Value, which is equal to 35% percent of the premiums paid, excluding the premiums paid during the first year of the Policy, the extra premiums and the premiums paid for Supplementary benefits further reduced by the value of the Fixed Term Payments already paid. The cash value of the Guaranteed Additions already made and vested bonuses will also be allowed.


• Non-Guaranteed Surrender Value
  The Company may allow surrender values at such other rates not less than the Guaranteed Surrender Values specified above. These rates will be declared by the company from time to time. The surrender values will be computed by applying the factors to the paid-up sum assured and vested guaranteed additions and vested bonuses.

How can I buy this plan?
We offer several options for you to buy as per your convenience. Choose from one of the following:

• Buy Online in 3 easy steps
• Send me an advisor
• Visit your nearest branch
• Chat with an executive