Products JyotiLife Child Endowment Plan

The Child Endowment Plan is aimed to protect your child’s future and career. It is important to prepare and arrange fund for child’s education and other social necessities of life today. JyotiLife Child Endowment Plan or Sunaulo Bhawishya Baal Jeevan Beema fits your needs if you ensure your child’s life today. You select the period of the plan to suit the age of the Child at which you want the policy proceeds to be paid.

Plan Features: Criteria

Minimum Sum Assured NPR 100,000
Maximum Sum Assured NPR 20,00,000
Minimum Policy Term 10 Yrs
Maximum Policy Term 25 Yrs
Minimum Entry Age 0 Yr
Maximum Entry Age 15 Yrs
Maximum Maturity Age 25 Yrs
Premium Payment Frequency Yearly, Half Yearly & Quarterly

Basic Benefits:

  • At the time of maturity of policy, basic sum assured with Bonus will be paid to the insured.
  • In case of unfortunate death of insured (Child) after risk commencement date, basic sum assured with Bonus will be paid to the proposer/beneficiary.
  • In case of unfortunate death of insured (Child) before risk commencement date, all premium paid under this policy except rider premium will be refunded to the proposer/beneficiary.

Risk Commencement Date:

Assured’s (Child) Coverage starts after 2 years from the date of commencement of policy or on policy anniversary date following child’s age reach 6 years old whichever comes later.

Insurance Premium:

Insurance Premium is to be determined based on age of insured, policy term and requested coverage amount.

Optional Benefits (Rider Benefits):

With payment of additional premium, following benefits can be added in this policy for insurance coverage of proposer (Child’s Father or Mother) of age 18 to 55 years:

1. Premium Waiver Benefit (PWB):

This benefit can be taken with addition of premium which is based on proposer’s age and term of insurance. Total coverage of this rider for any one life can’t exceed Rs. 20,00,000. In case of death or accidental disability of proposer, all future payable premium of this policy will be waived.

2. Monthly Income Benefit:

This benefit can be taken with addition of premium which is based on proposer’s age and term of insurance. Total coverage of this rider for any one life can’t exceed Rs. 20,00,000. In case of death proposer, 1% of basic sum assured will be paid to the insured on monthly basis till the maturity of the policy.