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Children Education and Marriage Plan
Child Education & Marriage Assurance is a plan for the protection of child's
future. It provides a lump sum benefit for the child at the completion of the policy
term. On completion of term of the policy, full sum insured together with the accrued
bonuses become payable to the policyholder.
If the policyholder dies (Allah
forbid) before completion of the term, a family income benefit of Rs 240 per 1000
sum insured per annum is paid to the child until the completion of policy term.
Further, future premiums under the policy are waived and policy remains in force
with full sum insured and continues to participate in State Life's surplus and receive
bonuses. Upon the completion of policy term, the child gets two options of either
getting the proceeds in a lump sum or in five equal installments. |
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