You want your child to have higher education to give him a good start in this increasingly competitive world. This is where our EPP plans fit your needs.
You have the flexibility to select the period of the plan to suit the age of the Child at which you want the policy proceeds to be paid. Choose any period from 10 to 25 years of age.
On survival of child at maturity, Face Amount of the policy plus Bonuses are paid. The money can be used to pay for his or her higher education expenses. If your child has already completed education, he or she will find the money very helpful in starting a career or being used for expenses such as marriage.
In Case of Payer’s Death:
- All future premiums under the policy will be WAIVED and the policy continues in full force. PLUS,
- INCOME FOR EDUCATION equal to 1% of the Face Amount is paid EVERY MONTH to the child till the maturity.
- At maturity, Face Amount of the policy plus Bonuses is paid.
In Case of Death of Child Before Maturity:
In the event of Insured's death prior to his attaining the age of 3 years the amount payable under this policy shall be in accordance with the following Schedule:
|Age at death||Amount Payable|
|Less than six months||25% of Face Amount|
|1 year nearest birthday||50% of Face Amount|
|2 years nearest birthday||75% of Face Amount|
|3 years nearest birthday & over||Full Face Amount|
In case of death benefits exceeds 25 percent of Face Amount, 25 percent of Face Amount shall be paid immediately and remaining payable benefits including bonus accrued till the date of death shall be paid at maturity.
Payment on Payer’s Disability:
For a small additional premium, you can add a very valuable benefit – Disability Protection Rider. In the event of your total and permanent DISABILITY DUE TO SICKNESS OR ACCIDENT, all future premiums will be waived. INCOME equal to 1% of the Face Amount is paid EVERY MONTH to the child till the maturity of the policy. At maturity, Face Amount of the policy plus Bonuses is paid.