|
Jeevan
Vandana is a unique "Gift" Plan for your
precious child who will soon grow to
adulthood, with his or her own ambitions
and aspirations.
What is unique
About Jeevan Vandana?
Jeevan Vandana is a Financial Plan which
can basically protect your child from
childhood to maturity where you pay
premia for the child only until the 18th
Birthday, and the protection continues
till his or her 50th
birthday. In other words, you have
provided a virtual life-long protection
for the child which will stand in good
stead until the child reaches his/her 50th
Birthday. |
Eligibility Criteria and Other
Conditions
|
Child's
age at Entry of the Plan |
: |
Between 1
to 12 years |
|
Child's
age at maturity of the Plan |
:
|
50 years |
|
Minimum
Insured Amount |
:
|
Rs.100,000/= |
|
How will Jeevan
Vandana protect your child... right
throughout his or her life?
Illustration :- Insured Amount Rs. 1
Million |
|
Benefits before
the child reaches 18th
Birthday |
 |
The total insured
amount will be paid to the child if he
or she is totally and permanently
disabled due to an accident - i.e. Rs. 1
million. |
|
|
A percentage of
the Insured Amount will be paid if the
child is partially, but permanently
disabled due to an accident. |
|
|
In the unfortunate
event of death of the child before the
18th birthday, all premia paid will be
refunded together with interest. |
|
Benefits from 18th
to 50th Birthday of your
Child |
|
|
A Birthday Gift
each year from the 18th to 49th
birthday as follows
Between 18th to 34th
Birthday - Rs. 50,000/- each Birthday
Between 35th and 49th
Birthday - Rs. 75,000/- each Birthday |
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He or she can
reinvest this money received annually,
to build another fund. |
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A lump sum payment
amounting to 150% of the Insured Amount
on the 50th birthday (i.e.
Rs.1.5 Million as per the illustration).
This will provide a base for his or her
retirement. |
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Life Insurance
which begins on your child's 18th
Birthday will grow by 100% every 10
years, starting from the child's 25th
Birthday as shown below: |
|
|
|
Child's Age |
Life Insurance |
|
18
- 25 |
Rs.
1 Million |
|
26
- 35 |
Rs.
2 Million |
|
36
- 45 |
Rs.
3 Million |
|
46
- 50 |
Rs.
4 Million |
|
|
|
|
Accidental Death
Insurance will be double the life
insurance as illustrated below. |
|
|
|
Child's Age |
Life Insurance |
|
18
- 25 |
Rs.
2 Million |
|
26
- 35 |
Rs.
4 Million |
|
36
- 45 |
Rs.
6 Million |
|
46
- 50 |
Rs.
8 Million |
|
|
|
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In the event of
total and permanent disablement due to
an accident your child will receive a
payment equal to the life insurance
applicable at the respective age. |
|
|
In the event of
permanent partial disablement due to an
accident your child will receive a
percentage of the applicable life
insurance. |
