ING Aashirvad is a guaranteed child life insurance plan that pays out monies and helps you plan for the career and marriage of your children. In this insurance plan the parent and child are the life insured/s during the policy term and once your child’s future is sufficiently secured through the education and marriage payouts, the benefit of long term insurance protection shifts to the child during the extended policy term.
Features –
|
|
Parent(Life Assured) |
Child(Life Assured) |
| Min/Max Entry Age (age last birthday) | 20-55 years | 3-15 years |
| Max Maturity Age of the parent | 70 years | - |
| Premium Paying Term (PPT) | 10-20 years | |
| Policy Term | Premium Paying Term (PPT) + 5 years | |
| Minimum Guaranteed Maturity Benefit (GMB) | Rs. 400,000 | |
| Maximum Guaranteed Maturity Benefit (GMB) | No limit (subject to Underwriting) | |
| Death Benefit | Before the Policy Maturity Date For Parent:- 50% of GMB For Child:- 2.5% of the GMB + Surrender Value (if any) After the Policy Maturity Date |
|
Benefits –
Guaranteed Maturity Benefit as per the education and marriage planning for your child.
Guaranteed Death Benefit on the life of the parent and the child.
Guarantee of waiver of future premiums and the policy continues in the unfortunate event of the demise of the parent.
Guaranteed long term protection (30 years) for your child after the Guaranteed Maturity Benefits are paid.
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Tags: Child Plan, ING Aashirvad, ING Life Insurance, Life Insurance