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Assure Educare at 18 & Assure Educare at 21 More Details
This is a first-of-its-kind juvenile endowment policy geared toward funding your child's education. You can choose between Assure Educare 18 and Assure Educare 21, depending on your needs:
• Assure Educare 18:
This plan matures when your child turns 18 and is open to children between 0 years and 8 years of age.
• Assure Educare 21:
This plan matures when your child turns 21, and is open to children between 0 years and 11 years of age.
Key features of both of these plans include:
• A guaranteed payment of 10% of the sum assured at maturity or on death (policy must be in force for a minimum 10 years).
• An additional guaranteed education benefit of 20% of sum assured, payable to you at maturity.
• A non-guaranteed compounded annual bonus credited on the policy anniversary (depending on Company performance).
• A terminal bonus which is payable on death or maturity (policy must be in force for a minimum 10 years).
• Free Look Period - A money-back guarantee, which allows you to return the policy within 15 days of receipt for a full refund (minus nominal administrative charges).
• Sum Assured is payable on death or on maturity.
Tax Benefits, Riders and Age Eligibility
• Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
• A Payor Benefit Rider is available which waives all future payments for this policy in the event of your death or disability, at a nominal extra cost.
• Assure Educare 18 is open to children between 0 years and 8 years of age, while Assure Educare 21 is open to children between 0 years and 11 years of age.
Assure 21 Years Money Saver More Details
This savings plan gives you the cash payments at specified intervals to fund your family's needs at critical milestones or support your financial obligations. You get the dual benefits of life insurance coverage plus the flexibility of periodic payments.
Key features include:
• 10% of the sum assured is paid on survival on the 3rd /6th /9th /12th /15th and 18th policy anniversaries.
• 40% of the sum assured will be paid on maturity (i.e. on the 21st anniversary of this policy).
• The entire sum assured is distributed to your beneficiaries, irrespective of cash payments already made, in the unfortunate event of your death before the end of the policy´s term.
• A 10% Guaranteed Addition is payable on death or maturity, if the policy has been inforce for 10 years.
• A reversionary and terminal bonus payable on death or maturity. Terminal bonus is available only if policy is in force for more than 10 years.
• Bonuses are paid depending on performance of the company.
Tax Benefits, Riders and Age Eligibility
• Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
• Term, Critical Illness, Accident and Disability riders are available for added protection at a nominal extra cost.
• Minimum age to qualify for this product is 30 days. Maximum age limit is 55 years.
• For juveniles only Payer benefit rider is available.
InvestAssure II is a unique, flexible insurance plan, which combines the security of a life insurance policy with the opportunity to exploit the upside of market returns by investing in different kinds of securities through multiple fund options. You can direct the investments by creating your own investment fund portfolio from a range of options to suit your needs and preferences.
Key features include:
• Policy terms of 15, 20 or 30 years.
• No penalty for surrendering the policy any time after the 6th year.
• The Sum Assured is a multiple of the Annual Regular Premium payable. The multiple varies according to age at entry and policy term. You have a choice of premium multiples to choose from.
• Any premium not deducted for coverage and charges may be invested in a wide range of investment vehicles, including: an Equity Fund, Income Fund, Aggressive Growth Fund, Stable Growth Fund and a Short Term Fixed Income Fund.
• InvestAssure II also offers the flexibility to switch between funds, premium top-ups, partial withdrawal, premium holiday, policy reinstatement, and multiple premium payment modes.
Tax Benefits, Riders and Age Eligibility
• Premiums paid under this plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Any sum received under this plan is exempt from tax under section 10(10D) of the Income Tax Act, 1961.*
• Attach Accident, Waiver of premium, Payer Benefit (for juvenile policy) and Critical Illness riders to this policy at a nominal extra cost for added protection.
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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