|Child Protection Endowment Insurance plan|
| Under this plan, both
the premium payer (father/mother) and the children are covered at the same
The benefits of this plan are as follows:
1. If the life assured (father/mother) dies within the term of the policy no further premiums will be payable. In such an event the following benefits are payable:
a) 1 (one) percent of the sum assured as stipend till the end of the policy term.
b) Full sum assured together with bonuses at the end of the policy term.
2. If the child dies before the maturity of the policy the following benefits will be payable:
3. If the life assured and the child survives till the end of the policy term full basic sum assured together with bonuses are payable.
4. If after the death of the life assured the child dies within the term of the policy no benefits are payable within the term, but full basic sum assured together with bonuses are payable.
N.B: If the child dies by drowning in water only the premium paid will be refundable.