Smart Kid RP

1. A Policy which provides Secured Future For Your Child

2. A Product which provides Benefit Payouts at Key Educational milestones along with Life Cover
for the Parent
3. Guaranteed Educational Benefits at Regular Intervals of Time
4. In an unfortunate event of death of the Life Assured Parent, Sum Assured is Paid Immediately,
the Premiums are waived off and they are paid into the policy by the company & Guaranteed
Educational Benefit payouts will continue
5. Avail Guaranteed returns by investing in a Traditional Plan
6. Additional coverage with Riders (IBR, ADBR & ABR)
7. Avail tax benefits on premiums paid and benefits received under Sec 80 C and 10(10(D)) of
Income Tax Act, 1961.

How the Plan works:

• You need to choose the Sum Assured that you want to have
• Choose the Maturity Age of the Child to be between 22 – 25 years of Age
• Term of the Policy = Age of the child at the Maturity of the Policy – Current Age of the Child
• The Premium Amount is Derived based on the Sum Assured chosen, Parents Age & Term of the Policy
• You can Opt for Add-on Riders which are available (IBR, ADBR & ABR) for Additional Benefit.

Guaranteed Educational Benefits:

This benefit is available irrespective of whether the Parent (Life Assured) is Alive or not during the Term
Option-1:
Term of the Policy Payout (% of SA) Education Milestone
T – 7 years 20% of SA Secondary
T – 5 years 25% of SA Higher Secondary
T – 2 years 25% of SA Graduation
T (end of the Term) 30% of SA + GB + VB Post-Graduation

Option-2
1st Payout 2nd Payout 3rd Payout 4th Payout 5th Payout
T (end of the Term) –
T-4years – 25% T-3years – 20% T-2years – 20% T-1years – 20%
20% of SA+GA+VB
SA = Sum Assured, GA = Guaranteed Additions, VB = Vested Bonus

The last payout is given at the end of the term hence the final payout is as the Maturity Benefit of the Policy,
Any one of the Option should be chosen while taking the Policy, how ever the Policy holder can change to the
Other Survival Benefit Option 6 months prior to any Periodic Payments being done

Death Benefit:
In the unfortunate event of Death of Parent ( Life Assured),
• Child (Beneficiary) will receive Sum Assured
• Guaranteed Educational Benefits continue
• All Future Premiums are Waived off & Paid by the company (Payor Waiver Benefit)

If Income Benefit Rider (IBR) is also chosen, 10% of Rider Sum Assured is paid to the Child till the
Maturity date of the Policy

Add-On Riders:
Added Protection to your Family against any unfortunate eventualities
• Income Benefit Rider (IBR)
• Accident & Disability Benefit Rider (ADBR)
• Accident Benefit Rider (ABR)
 Parent : 20 – 60 Years (Age Nearest birthday)
Min & Max Age at Entry
Child : 0 – 12 Years (Age Nearest birthday)
Parent : 70 Years
Max Age at Maturity
Child : 22 – 25 Years
Min. & Max. Term 10 – 25 years
Term calculated as Age of Child at Maturity of the Policy – Current Age of the Child
Minimum Premium Yearly – Rs.8,400, Half-Yearly – Rs.4,200 or Monthly – Rs.700
Maximum Premium With respect to the Maximum Sum Assured Opted
Min. & Max. Sum Assured Min. SA = Rs.1,00,000 & Max. SA = Rs.30,00,000
1st Payout at [T – 7years] is 20% of SA
2nd Payout at [T – 5years] is 25% of SA
Periodic & Maturity Benefits – 3rd Payout at [T – 2years] is 25% of SA
Option 1 Final Payout (Maturity benefit at the end of the term) is
30% of SA + Guaranteed Additions @ 3.5% compounded Annually for the
first 4 years + Vested Bonus (if any as declared by the company)
1st Payout at [T – 4years] is 25% of SA
2nd Payout at [T – 3years] is 20% of SA
3rd Payout at [T – 2years] is 20% of SA
Periodic & Maturity Benefits –
4th Payout at [T – 1years] is 20% of SA
Option 2
Final Payout (Maturity benefit at the end of the term) is
20% of SA + Guaranteed Additions @ 3.5% compounded Annually for the
first 4 years + Vested Bonus (if any as declared by the company)
Surrender or Paid Up After 3 full years Premiums have been Paid
Annual Mode – 3% of Discount on Premium
Mode of Payment Discount Half-Yearly - 1% of Discount on Premium
Monthly ECS – 0% of Discount & on Cash Mode 5% of Loading
SA < 2,00,000 – NIL,
Large Sum Assured Discounts 2,00,000 to 4,99,999 – Re.1 per 1000 SA
5,00,000 and Above – Rs.2 per 1000 SA