A child-focused life insurance plan to secure a child's future. Provides financial protection for education and long-term needs, with benefits on maturity, survival payouts and proposer-death protections.
What's included
Key highlights
- Entry age (child): 1 month – 17 years
- 1.5% of Sum Assured paid yearly as survival benefit
- Up to 90% loan against surrender value
Features
- Financial protection for children's education and long-term needs
- Yearly survival payout of 1.5% of Sum Assured until maturity
- Maturity benefit: Sum Assured plus accrued guaranteed additions
- Future premiums waived on proposer death
- Premiums returned if death occurs before risk start
- Surrender allowed after 3 years; up to 90% loan against surrender value
Terms and conditions
- 1) Death Benefits
- Before Risk Start: Premium returned, policy ends
- After Risk Start: Higher of 25% Sum Assured or premiums + additions
- 2)Proposer Death:
- Future premiums waived
- 1.5% Sum Assured yearly payout until maturity
- Both die: 100% Sum Assured+ benefits
- 3)Maturity Benefits
- On survival till maturity, Sum Assured plus accrued guaranteed additions will be paid. The policy terminates after payout.
- 4)Survival / Surrender- Surrender allowed after 3 years premium payment
- Up to 90% loan available against surrender value
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, and the policy ends.
Typical for life insurance plans — confirm the exact terms in the brochure.
If the policy runs to maturity
You receive the sum assured on the maturity date.
Typical for life insurance 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 life insurance plans — confirm the exact terms in the brochure.
Optional riders
Questions about this plan
Who can buy Surakshit Bal Bhavishya Yojana?
The entry age for Surakshit Bal Bhavishya Yojana is 18 – 55 years.
How long does Surakshit Bal Bhavishya Yojana run?
The policy term for Surakshit Bal Bhavishya Yojana is Minimum 8 years - Maximum 25 years.
How much cover can I take on Surakshit Bal Bhavishya Yojana?
The sum assured available on Surakshit Bal Bhavishya Yojana is Rs 25,000 – Rs 5,00,000.
Which riders can be added to Surakshit Bal Bhavishya Yojana?
Surakshit Bal Bhavishya Yojana can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request