 Broadly insurance can be classified in two categories: First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types: Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans. Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan . |
Child plan are available in both forms traditional plan as well market linked plan.
As parents we generally plan the fund to be available for our child at the time of:| Company | Death Benefit | Maturity Benefit |
Jeevan Anurag |
An amount equal to the Sum Assured will be paid to the beneficiary. | Accumulated amount till maturity date with guaranteed benefits |
Child Advantage Plan |
All future Premiums will be waived and policy will continue till maturity. | The higher of the basic Sum Assured or the Accumulation account will be paid on maturity. |
SmartKid |
The sum assured would be paid out immediately. | Accumulated Value as per NAV at maturity time with loyalty additional bonus |
Shiksha plus II |
100% of applicable sum assured is paid immediately to the nominee on the death of life assured. | The fund value is paid for higher education on the maturity date. |
YougStar SuperII |
The Minimum death benefit will be at least 105% of the premium paid. | Fund Value will be paid as Maturity benefit. |
Bright Stars EDGE |
Maximum of Sum Assured or 105% of all premiums paid. | On Maturity, you will get the policy fund value |
Smart Scholar |
A lump sum benefit equal to higher of the Sum Assured or 105% of all premiums paid till date of death will be payable. | The fund value shall be paid to beneficiary in a lump sum. |
Classic Child Plan |
Basic Sum Assured will be paid to the beneficiary, the policy will continue as long as the secondary life insured is alive. | You will receive the Fund Value at maturity. |
Rising Star Plan |
Maximum of Sum Assured or 105% of all premiums paid. | Accumulated Value as per NAV at maturity time with loyalty additional bonus |
Young Scholar |
All future premiums are waived off and the amount of Life Cover shall be payable to the nominee. | On maturity, the Fund Value pertaining to both regular premiums and Top-up premiums will be paid to the policyholder along with accrued Loyalty Additions, if any as on the maturity date. |
Met Bhavishya |
Maximum of Sum Assured or 105% of all premiums paid. | On Maturity of the policy guaranteed additional as explained above would be payable |
Aashirvad |
Maximum of Sum Assured or 105% of all premiums paid. | On Maturity of the policy guaranteed additional as explained above would be payable |
