This plan is ideal for parents who wish to make provision for:
1) Academic expenses that occur prior to college education
2) Specific goals like college fees or marriage expenses etc
3) All miscellaneous and extracurricular expenses that occur during college/school
Features:
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Maturity benefit
Aspiration (Endowment benefit) – Lumpsum payout at maturity
Academia (Moneyback benefit) – payouts during last 5 policy years with first guaranteed payout higher than subsequent guaranteed payouts
Career (Moneyback benefit) – payouts during last 5 policy years with last guaranteed payout higher than previous guaranteed payouts
Death Benefit options to choose from based on which death benefit payable are decided
Classic: Policy Terminates after payment of death benefit
Classic Waiver: Policy continues after payment of death benefit + Future Premiums waived
Limited PPT of 7, 10 or Policy term minus 5 years
Flexibility to choose your policy term from 15 to 25 years as per your child’s future needs
Guaranteed Additions1 during first 5 policy years, if applicable
Participating plan with accrued bonuses payable at maturity
Option to take this policy by filling a Short Medical Questionnaire (SMQ)2
Tax Benefits 3 under Section 80C and Sec 10(10D) of Income Tax Act 1961