This plan is ideal for protecting a child's future. By keeping aside/saving a certain amount of money, a good corpus build-up will cater to the future need of your child's educational and social needs, ln the case of an eventuality, the current and the future financial needs of the child will be well-taken care.
Mero Mutu Jeevan Beema Yojana- Single
Eligibility Criteria
- Minimum Sum Assured: 50,000/-
- Maximum Sum Assured: Subject to financial underwriting
- Riders Sum Assured: Regulatory limit, depends on riders
- Minimum Entry Age [Child] (Nearest Birthday): 1 month
- Maximum Entry Age [Child (Nearest Birthday)]: 17 years
- Minimum Entry Age [Proposer] (Nearest Birthday):21 years
- Maximum Entry Age [Proposer] (Nearest Birthday): 55 years
- Maximum Maturity Age [Child]: 27 years
- Maximum Maturity Age [Proposer]: 65 years
- Minimum Policy Term: 10 years
- Maximum Policy Term: 27 years
- Guaranteed Premium Rate: Premiums fixed at inception of policy
- Reviewable Premium rates: No
- Benefits/Special Features
- Death Benefit (during the term of policy):
- On death of child: 25% of Sum Assured plus Bonus Declared and Vested or premium paid, whichever is higher. Policy is terminated.
- On death of proposer:
- Income equal to 1% of sum assured will be paid every month till maturity of policy or child death whichever is earlier.
- On death of child & Proposer at the same time.
- On death of child: 25% of Sum Assured. And,
- On death of proposer: Sum Assured plus Bonus Declared and Vested.
- On death of child after death of proposer: 25% of Sum Assured plus Bonus Declared and Vested or premium paid, whichever is higher. Policy is terminated.
- On an optional basis: Full sum assured to be available on death of proposer during the term of the policy and the policy will continue until maturity or death of child, if earlier.
In case of the policy with additional death coverage of propose, the 100% Sum Assured benefit is provided when the child is alive. When death of both child and proposer occur simultaneously, only 125% sum assured and bonus declared and vested in the policy is provided.
- Survival of child till Maturity Benefit: Sum Assured plus Bonus Declared and Vested.
- Rider Benefits
- Permanent Total Disability (PTD) to proposer during term of policy due to accident or sickness [Embedded in the policy]:
- Income equals to 1% of sum assured will be paid every month till maturity of policy or child death whichever is earlier.
- Critical Illness (CI): On onset of any of the CI listed in the CI TN, Additional amount equal to CI Rider sum assured.
- Premium Payment Mode/Structure
- Mode: Single
- Rebates/Adjustments to premium
|
|
Sum Assured |
Single |
|
Large Sum Assured Rebate |
200,000 to 399,999 |
NRs 1 |
|
400,000 onwards |
NRs 2 |
