ICICI Prudential Life Insurance : SmartKid Regular Premium
Flexible investment option: Choose the amount of premium with which you wish to safeguard your child’s education.
Flexible policy tenure: The tenure of the plan will be calculated as the difference between your child’s current age and his or her age at which the policy matures.
Flexible premium options: The premium will be calculated based on 3 factors: Sum Assured, policy tenure and your age.
Guaranteed bonus: A guaranteed bonus of 3.5% per annum is declared for the first 4 premium paying years plus an annual vested bonus declared in subsequent years.
Regular payouts: As your child approaches key educational milestones such as 12th standard or graduation exams, he or she will receive regular payouts, guaranteeing he or she continues to study, no matter what the circumstance.
Death Benefit: Your child will receive the Sum Assured immediately, should something happen to you. ICICI Prudential will pay the remaining premiums, ensuring your child continues to receive policy benefits, as always.
Income Benefit Rider: You can choose to add the benefits of this rider to your child’s education plan. Should you depart before your son’s or daughter’s education is complete, you child will receive 10% of Rider Sum Assured, for the balance term of the policy.
Add-on riders: ‘Accidental Death and Disability Rider’ and ‘Waiver of Premium Rider’ ensure your child stays doubly protected, at all times. You can choose to add these to your child’s education policy.
Tax benefits: Premiums you pay for a SmartKid policy are eligible for tax savings [u/s 80(C)]. Maturity and death benefits are eligible for tax exemptions [u/s 10(10D)].