Asian Child Assurance Plus (Plan 26)

Asian Child Assurance Plus (Plan 26)

Salient Features of Asian Child Assurance Plus (Plan 26) :

  • Minimum age at entry: 0 years
  • Maximum age at entry: 17 years
  • Minimum Term: 5 Years to Maturity age not less than 18 years
  • Maximum Term : 25 Years
  • Maximum Maturity Age: 32 Years
  • Minimum Sum Assured: Rs. 50,000
  • Maximum Sum Assured: No limit(Based on the financial status of the proposer)
  • Premium Paying Mode: Yearly, Half-yearly, Quarterly.

Modal Factors:

  • 1.000 for yearly mode
  • 1.020 for half-yearly mode
  • 1.035 for quarterly mode

Commencement Of Risk

  • Risk of the child commence either 2 years after the date of policy enforcement or from the policy anniversary falling immediately after the completion of 6 years age of child, whichever comes later.
  • After 1 year from the date of policy enforcement when the child’s age is 9 years and above but below 12 years.
  • From the date of policy enforcement if the age of child is 12 years and above.

Benefits:
Maturity Benefits

  • The Sum Assured along with vested bonus is payable on Date of Maturity.

Death Benefits

  • In case of the life assured(Child) during the Term of the policy:
  1.  25% of the Sum Assured will be payable immediately.
  2.  75% of the Sum Assured with interest will be paid at the end of the Policy Term.

Refund of Premium

  • In case of death of the life assured(Child) before commencement of risk, all the premiums paid excluding extra premiums shall be refunded.
  • In case of the death of the proposer before commencement of risk, the policy can be surrendered upon the written request of the legal heir of the minor(life assured), all the premiums excluding extra premium shall be refunded.

Optional Riders with additional premium payment:

  • Premium Waiver Benefits(PWB)
  • Monthly Income Benefits(MIB)
  • Early Risk Coverage(ERC)

First Policy Issued Date :

  • 2078/10/12

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