Children are the wealth of the nation. Shape their future.
FROM
CRADLE
TO
CONVOCATION
E(I)NSURING SMILES ALL THE WAY
For many , Life revolves around Children
For some ,
Children are Life .
Plan cash flow for the
easy Take off
of your child’s future
----Create Yet another reason to call you
The Best Parents
KOMAL JEEVAN
Children’s Money Back plan
BENEFITS
Instalment Benefits:
The Sum Assured will be paid in instalments at
periodic intervals provided the policy is in force for
full Sum Assured as under:
• 20% of the Sum Assured on each of the policy
anniversaries immediately after the Life Assured
attains the age of 18 and 20 years.
• 30% of the Sum Assured on each of the policy
anniversaries immediately after the Life Assured
attains the age of 22 & 24 years.
ADD Ons :
1) Guaranteed Additions
• Rs.75 per thousand Sum Assured per annum at the
end of each policy year will be added to the policy
provided the policy is in full force,
These are payable
• on Death of life assured (provided the risk has
commenced under the policy) or
• on Maturity i.e. on policy anniversary immediately
after the Life Assured attains the age of 26 years.
2) Loyalty Addition :
Loyalty Additions may also be payable on
Maturity or on Death after the
commencement of the risk, depending on
the experience of the Corporation.
Death Benefit
In the event of unfortunate death of
the life assured , during the risk
period , the Sum Assured together
with Guaranteed Additions is
payable.
Note : Prior to the risk period premiums would be refunded as per usual
norms
Eligibility Parameters
•
•
•
•
•
•
•
Age at entry
:
0 - 10 years
Premium Payment Ceasing age : 18 Years
Maturity age
:
26 years
Mode of Premium Payment
: Single premium, Yearly, Halfyearly, Quarterly & SSS.
Minimum Sum Assured
: Rs.1,00,000/Maximum Sum Assured
: Rs.25,00,000/-
Note: Policy will be issued only in multiples of Rs.25,000/-.
AGE PROOF :
• For children aged 5 years and above, a
certified extract from the school records will
be accepted as proof of age.
• In other cases, certified extracts from
Municipal records made at the time of birth
will only be accepted as age proof.
Who can PROPOSE?
• Father
• Mother ( female category I and II )
• Legal guardian can propose under the
plan. (in the absence of father/mother)
Proposal Form : Form No. 360 to be
for this plan
used
POLICY AS A GIFT
The close relations such as grandparents, elder
brothers or sisters, uncles both from paternal or
maternal side can gift 'single premium policy'
for love and affection under this plan. in such
cases also, the policies will be proposed by
father, mother or legal guardian.
Premium Rebates:
• Yearly Mode - 2% of tabular premium
• Half-Yearly Mode - 1% of tabular premium
• Quarterly
- No rebate
Sum Assured Rebates:
Sum Assured greater than or equal to
Rs.200000/- : Rs.1.00 per thousand Sum
Assured
Medical Examination :
No medical examination of the Life assured is
required.
Vesting:
Policy shall automatically vest in the Life
Assured on the policy anniversary
immediately after he/she attains majority.
COMMENCEMENT OF RISK
• Risk will commence after 2 years from the
date of commencement of the policy
OR
• From the policy anniversary immediately
following the completion of 7 years of age,
whichever is later.
Premium Waiver Benefit
• Premium waiver benefit can be availed by
the proposer at a small additional
premium.
• Under normal underwriting requirements
proposers up to the age of 50 (nearer
birthday) are eligible.
(Medical of the proposer at their cost)
Term Rider Benefit
• Term Rider Benefit can be availed by the proposer
to the extent of 20% of the basic Sum Assured under
the policy not exceeding Rs.100000/-.
• The benefit will be payable in case the proposer dies
before the policy anniversary on which the child
completes 18 years.
• Conditions are similar to that of Premium Waiver
Benefit.
Accident Benefit
This Plan is not be eligible for the
accident or permanent disability
benefits.
LOAN
No loan can be granted under this policy.
Guaranteed Surrender Value:
This policy can be surrendered for cash after
expiry of 3 policy years *
( * at least 3 years’ premiums have been paid )
Revival of Discontinued Policies
The lapsed policy may be revived during
the life time of the Life Assured, but within
5 years from the date of the F U P.
Product Mix(Contt)
• Combination of Komal Jeevan with Jeevan
Kishore would be an ideal product mix to
receive the installments of cash flow(education)
and a lump sum amount (maturity of Jeevan
Kishore)would provide for the START-IN -LIFE
for your child.
• Komal Jeevan supplemented with table No.14 ie.
Endowment plan at the appropriate time also
makes a very good product mix to plan for cash
flow at planned intervals.
Dating Back of the Policy
is possible.Avail of an extra benefit by offering a
combination of two Komal Jeevan Policies
(dated back appropriately) .
The cash flow can be finely tuned so that from age
eighteen years, the child can receive the installments
every calendar year till the maturity of the policies .
Lump Sum amounts can then be utilised for
Start - In - Life.
Note : Dated back premium amount is charged interest.
Benefit Illustration
AGE
PREMTERM
ANNUALPREM
PWB PREM
PREM FOR
THE TERM
SURVIVAL
BENEFITS.
GUARANTEED
ADDITIONS
0
18
7281
251
131058
100000
195000
2
16
8310
258
132960
100000
180000
4
14
9452
265
132328
100000
165000
5
13
10223
271
132899
100000
157500
7
11
12181
298
133991
100000
142500
9
9
14426
310
129834
100000
127500
10
8
16239
333
129912
100000
120000
Exactly!
You have rightly identified the Target Group.
Young Parents / Grand Parents with
Children / Grand Children below 10 years
belonging to Average and High income group
with a Life style
and who aspire for more in future.
This group has similar needs
like buying chocolates, books,
school bags, toys , shoes, vaccinations
and other requirements for their children.
Create Awareness that
Insurance is also one of the
NEEDS of their children.
KOMAL JEEVAN
Life’s Biggest Investments are our
CHILDREN.
Help Identify their Dreams and
make them come true.
A Small Step leads to BIG RESULTS