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NEW CHILDREN’s MONEY BACK PLAN (Plan no.832)
This is a Money back policy with regular premium payment, Non-linked, Conventional, with-profits plan.
Get attractive payouts at important stages of your child’s growth, because children grow up very fast!
| Eligibility Conditions & Restrictions | ||
|---|---|---|
| Minimum age | : | 0 years |
| Maximum age | : | 12 years |
| Policy Term | : | 25 – Age at entry |
| Minimum Sum Assured | : | Rs. 1,00,000 |
| Maximum Sum Assured | : | No limit |
| Premium payment | : | Yearly / Half yearly / Quarterly / Monthly (Thru Bank) |
| Money back is paid | : |
18th year of child - 20% of Sum assured 20th year of child - 20% of Sum assured 22ndyearof child - 20% of Sum assured |
| Loan | : | Available after 3 years |
| Surrender | : | Available after 3 years |
| On maturity | : | 40% of the Sum assured + Bonus |
| Premium waiver benefit | : | Available from age 18 years to 55 years of proposer |
| Income Tax Benefits | : |
(i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Maturity amount / Death claim is non-taxable u/s 10(10d) |
Know more: Money Back Plans – 832
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