This is a regular premium Unit Linked Insurance Plan (ULIP). The overall charges too are reasonable compared to other similar plans in the market. This Child Plan can be considered as a long term investment tool for securing your child’ s future needs.
§ 20 times the Premium is provided as Sum Assured
§ 6 Fund Options for Investment
Death Benefit – In case of death of the policy holder, the nominee gets Sum Assured + Fund Value.
Maturity Benefit - If the policy holder survives the policy term, then the policyholder gets the Fund Value.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C.
The maturity amount you receive from this plan are exempt from tax under section 10(10D)
Sum Assured (in Rs.)
20 times the Annualized Premium
Policy Term (in years)
Premium Payment Term (in years)
Entry Age of Policyholder
Age at Maturity
70 years for 10 year term
75 years for 15 year term
80 year for 20 year term
Rs 18000 for 10 and 15 years term
Rs 12000 for 20 years term
Yearly, Half-Yearly, Quarterly and Monthly
Age = 30 years old
Premium = Rs.25,000
Policy Term = 20 years
Total Investment = Rs. 25,000 x 20 years = Rs.5,00,000
Riders – There are no riders available under this policy
Investment Fund Options – Under this plan the policy holder gets the following fund options:
1. Growth Opportunities Plus Fund
2. Grow Money Plus Fund
3. Build India Fund
4. Save ‘ n’ Grow Money Fund
5. Steady Money Fund
6. Safe Money Fund
Top-up – No top-ups are allowed in this policy.
Switching - You have the flexibility to switch investments from one fund to the other any time during the policy term. The minimum switching amount should be Rs.1,000 and there are 12 free switches available each year.
Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount of partial withdrawal should be Rs.1,000 provided at least 120% of the annualized premium remains in the fund value. You are allowed to make 2 free partial withdrawals each year.
Premium Allocation Charge
2nd to 12th
13th year onwards
Policy Administration Charge
1st to 5th
6th year onwards
0.18% of Annual Premium upto a max of Rs 5000 p.a.
Growth Opportunities Plus Fund
Grow Money Plus Fund
Build India Fund
Save‘ n’ Grow Money Fund
Steady Money Fund
Safe Money Fund
Year of Discontinuation
Annual Premium < = Rs 25,000 p.a.
Annual Premium > Rs 25,000 p.a.
Lower of 20% of (Annual Premium or Fund Value) subject to a maximum of Rs 3,000
Lower of 6% of (Annual Premium or Fund Value) subject to a maximum of Rs 6,000
Lower of 15% of (Annual Premium or Fund Value) subject to a maximum of Rs 2,000
Lower of 4% of (Annual Premium or Fund Value) subject to a maximum of Rs 5,000
Lower of 10% of (Annual Premium or Fund Value) subject to a maximum of Rs 1,500
Lower of 3% of (Annual Premium or Fund Value) subject to a maximum of Rs 4,000
Lower of 5% of (Annual Premium or Fund Value) subject to a maximum of Rs 1,000
Lower of 2% of (Annual Premium or Fund Value) subject to a maximum of Rs 2,000
Service Tax would be applicable on the charges depending on the applicable rates.
You stop paying the premium before 5 years – If the policy holder stops paying the premium, then the accumulated policy fund amount shall be paid to the policy holder after the fifth policy year. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.
You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.
You want to surrender the policy – The policy can be surrendered from the 6th (sixth) policy year. The surrender value will be equal to the fund value of all the premiums paid.
You want a loan against your policy – Loan facility is not available under this policy.