Jeevan Kishor

'JEEVAN KISHORE' has been designed as an improved version of the New Children's Deferred Assurance plan. Parents or legal guardians can propose the policy for childrens between age 1 to 12 years, with risk commencing at an early age.

Salient Features

• This Plan is basically an Endowment Plan i.e. Sum assured is payable either on survival to the term or on death happening within the term.
• Children between age 1 to 12 years are eligible.
• Parents can propose the child's life.

Benefits

• On death of child during waiting period all premiums will be refunded.
• In case the proposer i.e. the parents die during the deferment period, the policy has to be continued by regular payment of premiums. (by payment of an additional premium the proposer can secure a waiver of premiums i.e. premium need not to be paid on proposer's death till date of vesting).
• Once the risk is commenced, Sum Assured with Bonus with Final additional bonus (if any) is payable on survival to term or on earlier death of life assured.
• Accident benefit allowed to all eligible policy holder on application from the policy anniversary following their attainment of age 18 years on payment of usual extra premium of Rs.1/- per thousand Sum Assured with in existing overall limit of Rs.10,00,000/- in addition to existing concessional accident benefit. No extra premium is charged on 1st Rs.1,00,000/- Sum Assured. If the life Assured has attained the age of 25 years.

Risk Commencement Age

• For children aged 1 to 10 years, risk commences on at age of 7 years or 2 years after commencement of policy (whichever is later).
• For children aged 11 years, risk commences from first policy anniversary from the date of commencement of policy

Restrictions

• Minimum Term : 15 years
• Maximum Term: 35 years
• Minimum Sum Assured : Rs.20,000/-
• Maximum Sum Assured : Rs.40,00,000/-
• Minimum premium must be Rs.800/- p.m.
• Minimum maturity age: 20 years
• Maximum maturity age: 45 years
• For children aged 1 to 4 years, certified extracts from Municipal records or horoscope or Baptism certificates will be accepted as age proof if submitted along with a declaration signed by both the parents.
• For children aged 5 to 11 years, certified extracts from school records will have to submitted.

Accident Benefit (With Restriction) - Accident benefit allowed to all eligible policy holder on application from the policy anniversary following their attainment of ate 18 years on payment of usual extra premiums of Rs.1/- per thousand SA with in existing overall limit of Rs.10,00,000/- in addition to existing concessional accident benefit. No extra Premium is charged on 1st Rs.1,00,000/- S.A. if the life Assured has attained the age of 25 years.

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