ICICI Prudential’s SmartKid is a fixed-term insurance plan that provides you with funds at regular intervals. The plan helps to create funds for child needs at the various stages of his life and his need for education etc.
Key Benefits-
Lump sum payment of Sum Assured plus company contributes future premiums in the unfortunate event of death of Parent ( life assured ).
• Development Allowance: Under this benefit, a specified amount is paid to the child every year, in the unfortunate event of death of the parent.
• Facility to provide money for key educational expense of the child.
• Protection against Accident and Disability: Additional protection against accident and disability is provided with the help.
Basic Terms and Conditions –
1. Increase /decrease in Sum Assured is not allowed during the term of the policy.
2. The term chosen at inception of the policy cannot be changed.
3. If the Life Assured whether sane or insane commits suicide within one year from the date of issue of this policy, the insurance policy shall be void and the premiums paid will be refunded after deducting the expenses incurred by the company for the issue of the policy.
4. Children of higher age can be accommodated if the term of the policy is within limits.
5. Tax benefits under the policy.
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Tags: ICICI CHILD PLAN, ICICI Pru Life Insurance, ICICI Pru Smartkid