IME Child Endowment Plan (IME Bal Ujjwal)
In simple terms: you pay a fixed amount each year, and at the end of the term you get your cover amount back together with the bonus the insurer adds along the way. If you are ever unable to keep paying, the plan carries on by itself and your child still receives the full amount when the term ends. A child endowment plan providing financial security for children, offering life protection for the child and proposer with sum assured and vested bonuses payable at maturity.
Maturity estimator
Estimated value at maturity
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Declared bonus
Rate by policy term
Declared FY 2077/78
| Policy term | Rate / 1,000 |
|---|---|
| 0-9 | Rs 30 |
| 10-14 | Rs 30 |
| 15-19 | Rs 35 |
| 20-24 | Rs 48 |
| 25-29 | Rs 63 |
| 30+ | Rs 70 |
Recent years
- FY 2081/82
- Rs 30–80/ 1,000
- FY 2080/81
- Rs 30–80/ 1,000
- FY 2079/80
- Rs 22–80/ 1,000
- FY 2078/79
- Rs 30–70/ 1,000
- FY 2077/78
- Rs 30–70/ 1,000
* Company-wide declared range — the plan's own term bands were not published that year.
Source: IME Life Insurance declaration for FY 2077/78
Bonus rates are declared annually and are not guaranteed. Past rates do not guarantee future rates.
What's included
Key highlights
- Minimum Sum assured Rs.100,000
- Entry age 0–17 years (child)
- Premium waiver & income benefit on proposer death
Features
- Financial protection for child's education and marriage
- Death benefit for child and proposer
- Minimum sum assured Rs.100,000
- Premium payment terms: Regular, Limited and Single
- Risk commencement delay: typically 2 years or child age 6 (whichever later)
- Optional riders: Accidental Death, Lump-sum, Funeral expense
Terms and conditions
- 1. Risk commencement will happen 1 Year after the date of commencement of the policy.
- 2. On Survival of Life Assured (Child) till maturity, Full Sum Assured plus Vested Bonus will be paid.
- 3.In the event of death of Life Assured (Child) before the date of commencement of risk, all the Premium received till date will be paid. The policy will automatically terminate thereafter.
- 4.In the event of death of Life Assured (Child) during the policy term after the date of commencement of risk, 25% of the Sum Assured plus Vested Bonus (if any) or Total Premium received till date, whichever is higher, will be paid. The policy will automatically terminate thereafter.
- 5.In the event of death of Life Assured (Child) after the death of Proposer, 25% of Sum Assured plus Vested Bonus (if any) or Total Premium received whichever is higher, will be paid. The policy will automatically terminate thereafter.
- 6.In the event of the death of both Life Assured (Child) and Proposer at the same time during the policy term, 25% of Sum Assured plus Vested Bonus (if any) will be paid for the death of the Life Assured (Child) and Full Sum Assured will be paid for the death of the Proposer. The policy will automatically terminate thereafter.
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
The nominee receives the sum assured plus the bonus built up to that date, and the policy ends. Most child plans are written on the parent's life, so see the next case for how the child is protected.
Typical for child plans — confirm the exact terms in the brochure.
If the parent or guardian passes away
Future premiums are waived and the policy continues on its own. The child still receives the full maturity amount at the set age. Many child plans also pay the child a regular income until then — the brochure states the rate.
Typical for child plans — confirm the exact terms in the brochure.
If the policy runs to maturity
The child receives the sum assured plus the bonus built up to that date, timed to the age set when the policy was taken out.
Typical for child plans — confirm the exact terms in the brochure.
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for child plans — confirm the exact terms in the brochure.
Optional riders
Premium Waiver Benefit
Compulsory on proposer death or total permanent disability
Income Benefit
Compulsory proposer income benefit
Accidental Death Benefit
Optional rider
Lump-Sum Benefit
Optional lump-sum benefit
Funeral Expense Benefit
Optional funeral expense rider
Loan & liquidity
- Policy loan
- Available
- Loan facility
- Up to 90% of surrender value
Questions about this plan
What kind of plan is IME Child Endowment Plan (IME Bal Ujjwal)?
IME Child Endowment Plan (IME Bal Ujjwal) from IME Life Insurance is a child plan that is taken out by a parent or guardian to fund a child's education and future.
Who can buy IME Child Endowment Plan (IME Bal Ujjwal)?
The entry age for IME Child Endowment Plan (IME Bal Ujjwal) is 18 – 60 years.
How long does IME Child Endowment Plan (IME Bal Ujjwal) run?
The policy term for IME Child Endowment Plan (IME Bal Ujjwal) is 10-25 years.
How much cover can I take on IME Child Endowment Plan (IME Bal Ujjwal)?
The sum assured available on IME Child Endowment Plan (IME Bal Ujjwal) is From Rs 1,00,000.
What bonus rate does IME Child Endowment Plan (IME Bal Ujjwal) earn?
For FY 2077/78, IME Life Insurance declared Rs 30–70 / 1,000 of sum assured on IME Child Endowment Plan (IME Bal Ujjwal). Bonus rates are set each year and are not guaranteed.
Which riders can be added to IME Child Endowment Plan (IME Bal Ujjwal)?
IME Child Endowment Plan (IME Bal Ujjwal) can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request