Jeevan Balya
Suitabile
The income benefits being phenomenal, the plan is ideal for meeting the educational expenses of children. The plan can be secured by the proposer for a relatively low premium.

Features

• Children in the age group of 0 to 17 years can take this policy.
  
• Risk on the child's life commences at age 21 years, and thereafter the policy continues like any other Endowment Assurance. Sum assured is payable either on survival to the term or on death happening within the term.
  
• The policy can be taken in units, where 1 unit = Rs. 25,000, maximum being 4 units.
  
• Basic premiums are payable throughout the term or till the death of the child if the proposer is alive on the vesting date.
  
• The premiums in respect of additional benefits are payable up to date of vesting or earlier death of the proposer.
  
• Income benefits are available under this plan by payment of an appropriate additional premium.

Benefits
After Vesting

• The policy continues as an Endowment Assurance plan.
  
• Full Sum Assured is payable on death during the term or on survival to date of maturity.
  
• Premiums to be paid by the life assured till date of maturity or earlier death.
  
  
• Accident benefits are available as per rules.

Other Conditions

• Minimum age of life assured at entry: 0 years.
  
  
• Maximum age of life assured at entry: 17 years.
  
  
• Minimum premium payable under the policy: Rs. 1000 (excluding premium for Premium waiver benefit and Income benefits).
  
  
• Life assured to undergo medical exam if deferred period is less than 10 years.
  
  
• Minimum Sum Assured: Rs. 25,000.
  
  
• Premium Waiver Benefit is optional.
  
  
• No rebate on additional policy premium