This Endowment policy is designed for child education. It pays 4 Guaranteed yearly Cash Benefits (equivalent to 100% of Sum Assured) starting from your selected Payout Age (19 or 21) and 2 smaller Guaranteed yearly Cash Benefits before the Payout Age. The last Cash Benefit includes a Maturity Benefit and projected bonus (if any). Premium is payable for only 10 years. This policy is available for child below the age of 11. As no medical underwriting is needed, the insurance benefits offered for death and TI are minimal, which are based on 101% of total premium paid plus projected bonus (if any). You can also attach optional riders like premium waiver to enhance its benefits.
Product Type: Child Education – Child Education
Commission Rebate: Eligible
Coverage Duration: Till age 22/24
Premium Duration: 10 years
Need Underwriting: No
Cash Value: Yes
Cash Payout Frequency: Yearly payout from age 17/19
No medical underwriting.
I want a savings plan specially designed for child’s tertiary education
6 yearly payouts towards the last 6 policy years