NIA Product Code
NIA/LI002/2060/061/MBP/0005
NIA Approved Date
2060-04-07
Bal Bhagyodaya (Anticipated Endowment)
It is anticipated endowment with profit plan, specifically designed to take care of the educational needs of children for a specific term of 15 years. As an anticipated plan, benefits under the plan are payable at specified installment irrespective of whether the Life Assured survives to the end of the policy term or dies during the term of the policy. Premium is waived in case of death of the Assured.
Policy Benefits:
Survival Benefits:
- 25% of Sum Assured after completion of first 5 years
- 25% of Sum Assured after completion of second 5 years
- 50% of Sum Assured plus bonus on maturity
- Premium payment shall be waived till maturity
- Regular anticipated installment shall be paid even after the death of assured
- 50% of Sum Assured plus Entire bonus earned shall be paid to the nominee (child) on maturity
Rider Benefits:
- Accidental Death Benefit (ADB) up to Rs. 2,500,000.00 in additional Rs. 1.00 per thousand.
- Waiver of Premium (WOP) benefit shall be taken in additional Rs. 2.00 per thousand.
- Paid up and surrender claim shall be provided
- Loan Facility provided.
- Tax exemption as per ITA,2058
