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Shilpashakthi is an educational plan for
your child, which guarantees that you
have provided adequate funds in order
that your ambitions for the child are
achieved, whether you are there are not
to provide for it yourself.
What is
unique about Shilpashakthi?
Shilpashakthi builds two Funds for your
child, which will release payments as
and when your child needs them. The
exact time period during which you want
your child to receive these funds can be
structured according to your needs.
Eligibility Criteria and Other
Conditions
|
Minimum
age of child |
:
|
1 year |
|
Protection
period |
:
|
8 to 30
years |
|
Parent's
age at commencement of the
policy |
:
|
21 to 57
years |
|
Parent's
age at maturity of the policy
(maximum) |
:
|
65 years |
|
|
How does
Shilpashakthi Policy help you realise
your ambitions for the child: |
 |
The first Fund
will make quarterly lump sum payments
during the last 5 years of the child's
education, and you can plan so that the
child receives the money during his or
her Ordinary and Advanced Level studies. |
|
|
The second Fund
will make a further lump sum payment at
the end of the Plan, to help your child
commence his or her chosen field of
professional or university studies. |
|
Shilpashakthi
will take care of your child even if you
are no more: |
|
|
On the death of
the parent, Shilpashakthi will pay the
insured amount plus guaranteed bonuses
to your child immediately, to ensure
continuation of his or her life style
uninterrupted. No further premia are
payable. |
| |
If the company has
commenced the quarterly payments, these
will be doubled and paid as scheduled
for the balance of the 5 year period. |
|
|
If the death of
the parent was due to an accident,
Shilpashakthi will pay double the
insured amount plus the guaranteed
bonus, and continue to pay the quarterly
payments as for a normal death. |
|
If the Parent is
and Totally Permanently disabled due to
an Accident: |
|
|
The insured amount
will be paid and no further premia are
payable thereafter even though
Shilpashakthi will pay the promised
quarterly payments in terms of the
policy, as and when they fall due. |
|
If the Parent
is permanently and partially disabled
due to an Accident such as loss of a
limb or eye: |
|
|
A specified
percentage of the Insured Amount
depending on the nature of the
disablement will be paid immediately. |
|
You can insure
your child for hospitalisation as well: |
|
|
You would not want
the progress of your child's future to
be affected by any illnesses. In such
circumstances you would naturally want
the best medical attention to your
precious child which is going to be
costly. |
|
|
Shilpashakthi
recognizes this need and therefore for a
nominal additional premium, your child
will qualify for our annual
hospitalization cash plan during the
policy. |
