LIC - Jeevan Anurag - RP
Moneyback
Parent
Nil
NA*
Yes
Death benefit: Sum assured is paid and all future premiums are waived
Maturity benefit: 40% of SA plus vested bonus plus final bonus (if any)
Expert comment: Option to buy extra life insurance at a nominal cost
LIC - Marriage Endowment Or Educational Annuity Plan
Endowment
Parent
Nil
NA*
Yes
Death benefit: All future premiums are waived off. Sum assured plus all the bonuses will be paid at maturity
Maturity benefit: Sum assured plus accrued bonus plus final additions
Expert comment: Option to get sum assured plus bonuses as lump sum or in ten half yearly instalments post maturity
LIC - Children's Deferred Endowment Assurance Plan 21
Endowment
Child
Nil
21
Yes
Death benefit: Before 21: total premium excluding rider premium; After 21: sum assured along with accrued bonuses.
Maturity benefit: Sum assured plus bonuses plus final addition (if term is 15 years or more)
Expert comment: Insurance on the life of child starts automatically starts from the age of 21
LIC - Jeevan Anurag - SP
Moneyback
Parent
Nil
NA*
Yes
Death benefit: Sum assured is paid and all future premiums are waived
Maturity benefit: 40% of SA plus vested bonus plus final bonus (if any)
Expert comment: Option to buy extra life insurance at a nominal cost
Max New York - Children Endowment to 18 (Regular)
Endowment
Child
Nil
18
No
Death benefit: Refund of Premiums, together with interest will be paid.
Maturity benefit: Sum Assured plus accrued bonuses
Expert comment: Gives your child a lumpsum amount at age of 18 to support his higher education
LIC - Children's Deferred Endowment Assurance Plan 18
Endowment
Child
Nil
18
Yes
Death benefit: Before 18: total premium excluding rider premium; After 18: sum assured along with accrued bonuses.
Maturity benefit: Sum assured plus bonuses plus final addition (if term is 15 years or more)
Expert comment: Insurance on the life of child starts automatically starts from the age of 18
Max New York - Children Endowment to 18 (Single)
Endowment
Child
Nil
18
No
Death benefit: Refund of Premiums, together with interest will be paid.
Maturity benefit: Sum Assured plus accrued bonuses
Expert comment: Gives your child a lumpsum amount at age of 18 to support his higher education
Max New York - Children Endowment to 24 (Regular)
Endowment
Child
Nil
24
No
Death benefit: Refund of Premiums plus Interests plus Accrue bonus (if any)
Maturity benefit: Sum Assured plus accrued bonuses
Expert comment: Gives your child a lumpsum amount at age of 18 to support his higher education/ marriage
SBI Life - Scholar II
Moneyback
Parent
Nil
21
DNA
Death benefit: Sum assured plus all vested bonus is paid and all future premiums are waived
Maturity benefit: 25 % of Sum Assured plus Vested Bonus
Expert comment: Attractive rebate on premiums for Female lives and High Sum Assured
Bajaj Life - ChildGain 24 Plus
Moneyback
Child
Nil
24
No
Death benefit: 1) Below 7 years - Premiums paid will be refund without interest, 2) Above 7 and below 18 years - Sum assured with accrued bonuses 3) Above 18 years - Outstanding payouts paid as lumpsum.
Maturity benefit: 40 per cent of sum assured
Expert comment: In case of death or accident of insured during policy term, 1% of SA maximum to Rs. 10,000 paid per month till end of term of policy
Tata Life - Assure Educare at 21 ( edow)
Endowment
Parent
Nil
21
Yes
Death benefit: Sum assured along with guaranteed additions (if applicable) and accrued bonuses.
Maturity benefit: Sum assured along with guaranteed additions (if applicable) and accrued bonuses.
Expert comment: In case of non payment of premiums, the amount due will be advanced as a loan automatically.
Tata Life - Assure Educare at 18 ( edow)
Endowment
Parent
Nil
18
Yes
Death benefit: Sum assured along with guaranteed additions (if applicable) and accrued bonuses.
Maturity benefit: Sum assured along with guaranteed additions (if applicable) and accrued bonuses.
Expert comment: In case of non payment of premiums, the amount due will be advanced as a loan automatically.
Tata Life - Star kid
Moneyback
Parent
Nil
22
Yes
Death benefit: Payout as per maturity
Maturity benefit: 20% of sum assured plus vested bonus
Expert comment: Benefit in case of disability of the sum assured similar to death benefit
Tata Life - Assure Career Builder
Moneyback
Parent
Nil
27
Yes
Death benefit: Payout as per maturity
Maturity benefit: 40% of sum assured plus vested bonus
Expert comment: Guaranteed addition of 10% of Sum Assured in case of more than 10 policy years
LIC - Child Future Plan
Moneyback
Child
Nil
27
No
Death benefit: Before risk commencement - all premiums paid excluding rider premiums with interest of 3% p.a. compounding yearly. After risk commencement - Sum assured plus vested bonuses.
Maturity benefit: 50% of SA plus vested bonus plus final bonus (if any)
Expert comment: Provides risk cover 7 years after the expiry of the policy
LIC - Jeevan Kishore
Endowment
Child
Nil
45
Yes
Death benefit: Before commencement of risk: Premiums paid excluding the premiums for the premium Waiver Benefit. After commencement of risk: Sum Assured + vested bonuses upon the death of the life assured.
Maturity benefit: Sum assured plus accrued bonus plus final additions
Expert comment: Can be bought by any parent for their child less than 12 years for their bright future
Max New York - Children Endowment to 24 (Single)
Endowment
Child
Nil
24
No
Death benefit: Refund of Premiums plus Interests plus Accrue bonus (if any)
Maturity benefit: Sum Assured plus accrued bonuses
Expert comment: Gives your child a lumpsum amount at age of 18 to support his higher education/ marriage
ING Life - Creating Life Child Protection Plan
Endowment
Parent
Nil
NA*
Yes
Death benefit: Sum Assured and vested bonuses.
Maturity benefit: Sum Assured plus accrued bonuses
Expert comment: Gives your child a lumpsum at maturity to support his higher education/ marriage
Shriram Life - Vidya
Moneyback
Parent
Nil
NA*
Yes
Death benefit: Sum Assured and vested bonuses.
Maturity benefit: Sum Assured plus accrued bonuses
Expert comment: In case of death or accident of insured during policy term, 1% of SA paid per month till end of term of policy
Shriram Life - Vivah
Endowment
Parent
Nil
NA*
Yes
Death benefit: Sum Assured and vested bonuses
Maturity benefit: Sum Assured plus accrued bonuses
Expert comment: In case of death or accident of insured during policy term, 1% of SA paid per month till end of term of policy
Bajaj Life - ChildGain 21 Plus
Moneyback
Child
Nil
21
No
Death benefit: 1) Below 7 years - Premiums paid will be refund without interest, 2) Above 7 and below 18 years - Sum assured with accrued bonuses 3) Above 18 years - Outstanding payouts paid as lumpsum.
Maturity benefit: 35 per cent of sum assured
Expert comment: In case of death or accident of insured during policy term, 1% of SA maximum to Rs. 10,000 paid per month till end of term of policy
Bajaj Life - ChildGain 24
Moneyback
Child
Nil
24
No
Death benefit: 1) Below 7 years - Premiums paid will be refund without interest, 2) Above 7 and below 18 years - Sum assured with accrued bonuses 3) Above 18 years - Outstanding payouts paid as lumpsum.
Maturity benefit: 40 per cent of sum assured
Expert comment: In case of death or accident of insured during policy term, 1% of SA maximum to Rs. 10,000 paid per month till end of term of policy
Bajaj Life - ChildGain 21
Moneyback
Child
Nil
21
No
Death benefit: 1) Below 7 years - Premiums paid will be refund without interest, 2) Above 7 and below 18 years - Sum assured with accrued bonuses 3) Above 18 years - Outstanding payouts paid as lumpsum.
Maturity benefit: 35 per cent of sum assured
Expert comment: In case of death or accident of insured during policy term, 1% of SA maximum to Rs. 10,000 paid per month till end of term of policy
Reliance Life - Child Plan
Moneyback
Parent
Nil
NA*
Yes
Death benefit: Sum assured is paid and all future premiums are waived
Maturity benefit: 25 per cent of sum assured plus accrued bonus
Expert comment: Attractive rebate on premiums for High Sum Assured
ICICI Pru - Smart Kid Plan - Option 2
Moneyback
Parent
3.5%
25
Not Available
Death benefit: Sum assured is paid and all future premiums are waived
Maturity benefit: 20 per cent of sum assured plus Guaranteed addition plus Vested Bonus
Expert comment: Guaranteed 3.5% of SA compounded annually for first 7 years of the policy.
ICICI Pru - Smart Kid Plan - Option 1
Moneyback
Parent
3.5%
25
Not Available
Death benefit: Sum assured is paid and all future premiums are waived
Maturity benefit: 30 per cent of sum assured plus Guaranteed addition plus Vested Bonus
Expert comment: Guaranteed 3.5% of SA compounded annually for first 7 years of the policy.
