This is an Educational Endowment Policy that provides for the payment of the sum assured at maturity or prior death of the life assured. The maturity Benefit which is double the sum assured is paid at Age 17 of the child while the basic sum assured with accrued bonus is paid on death prior to maturity.
– It also has the following features:
- It guarantees double payment of the sum assured at maturity.
- It guarantees the payment of the sum assured with accrued bonus in the event of the death of the policyholder prior to maturity.
- It provides for payment of cash surrender value after two (2) years of premium payment.
- It has loan facility