This is an Endowment Assurance Plan available for children b/w 1 year and 12 years of age, with risk commencing at an early age. The policy may be purchased by any of the parent/grand parent.

Features
· Children between ages 1 and 12 years are eligible.
· Parents can propose the child’s life.
· Sum assured is payable either on survival to the term or on death happening within the term
· Premiums are payable yearly, half-yearly, quarterly or monthly throughout the term of the policy or till earlier death of child.

Risk Commencement Age
· For children aged 1 to 4 years, risk commences from policy anniversary after attaining age 7 years
· For children aged 5 to 10 years, risk commences from second policy anniversary from the date of commencement of policy
· For children aged 11 years, risk commences from first policy anniversary from the date of commencement of policy

Benefits

Death Benefits
The Sum Assured along with vested bonuses is payable in a lump sum upon the death of the life assured after the commencement of the risk. If death occurs before the commencement of the risk, the premiums paid excluding the premiums for the Premium Waiver Benefit will be refunded.

Maturity Benefit
Sum assured along with all bonuses during the policy term is payable in a lump sum on survival to the end of the policy term.

Premium Waiver Benefit (optional)
An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period & deferment period is to be taken as 18 minus age at entry of child.

Surrender Value:
Surrender values are available on the policy on earlier termination of the contract.

Guaranteed Surrender Value:
The policy may be surrendered after it has been in force for 3 years or more.
If policy is surrendered before the date of commencement of risk is 90 % of premiums paid excluding premium for the first year.
If policy is surrendered after the date of commencement of risk, the guaranteed surrender value is 30 % of premiums paid after commencement of risk together with 90 % of premiums paid before the commencement of risk.
Premiums for the first year and the premiums for Premium Waiver Benefit, if any, will be excluded.

Eligibility
· Minimum Term: 15 years
· Maximum Term: 35 years
· Minimum Sum Assured: Rs.30,000
· Maximum Sum Assured:
o For child aged below 10 years: Rs.5,00,000
o For child aged 11 years: Rs.10,00,000
· Minimum premium must be Rs.800 per annum
· Minimum maturity age: 20 years
· Maximum maturity age: 45 years
· For children aged 1 to 4 years, certified extracts from Municipal records or horoscope or Baptism certificates, will be accepted as age proof if submitted along with a declaration signed by both the parents
· For children aged 5 to 11 years, certified extracts from school records will have to submitted