This is non-linked, with profits, regular premium Money Back Plan for children.

Features & Conditions NEW CHILDREN MONEY BACK PLAN 932:

Minimum age at entry : 0 years Ibd

Maximum age at entry : 12 years Ibd

Age at maturity : 25 years Ibd

Policy term: 25-Age at Entry

Premium Paying term: 25-Age at Entry

Minimum S.A. : Rs. 1,00,000/-& in multiples of Rs. 10,000 thereafter.

Maximum S.A. : No limit


  • For entry age less than 8 years LBD : One day before completion of 2 years from DOC or one day before Policy Anniversary after completion of age of 8 years LBD, whichever is earlier.
  • For entry age 8 years LBD or more: Risk will commence immediately.


  • Before Commencement of Risk: Refund of Premiums paid Excluding GST.
  • After Commencement of Risk: Sum Assured on Death + Vested Bonus + FAB if any.

SURVIVAL BENEFIT: 20% of Basic SA is payable on policy anniversary after completion of age 18, 20 and 22 years. Policy holder has option to take survival benefits at any time after it is due or along with Maturity. Option is to be exercised 6 months before due date. Accumulation will be at simple interest rate of 5.40%.

MATURITY BENEFIT: 40% of Basic SA + Vested Bonus + FAB if any.

Available Riders: Premium Waiver Benefit Rider.

Maturity/Death Claim in Installments for 5/10/15 years for Full or Part of Maturity/Death Claim Amount: Option to be exercised – 3 months before Maturity and for Death Claim during lifetime by Life Assured.

Mode of Payment: Yearly, Half Yly, Qly & Mly ( SSS & NACH) Rebates:

Mode Rebate: Yearly : 2%, Half Yly :1%

High Basic S.A. Rebate:

  • Upto 1,90,000 : Nil
  • 200000 to 4,90,000 : 2 % of Basic SA
  • 500000/-& above : 3 % of Basic SA

Grace Period: 15 Days for monthly mode and 30 days for other modes.

Claim Concessions: Available under Base Plan only. Not apply to Riders & Death due to Suicide.

Paid up/Surrender/Policy Loan: After Premiums paid for 2 full years.

Revivals: Within 5 years of FUP.

Back Dating: Allowed with lean Month’s benefits.

Proposal Form: 360 & 300 for Proposer if opted for PWB Rider

Tax Benefits :

  • On Basic Premiums : u/s 80C
  • SB/Maturity/Death claim : u/s 10(10D)

Underwriting Rules:
Actual Sum Assured (ASA) for SUC:
For NM, Juvenile FMR, Special Reports, MHR & TRSA:
Basic S.A. only.

Non -Medical:
Age 0 – 9 Ibd : 40 lakhs.
Age 10 -12 Ibd : 15 lakhs.

Age Proofs:
Only Standard age proofs Allowed.

Sub standard Minor lives:
Proposals with BMI beyond standard range will be decided at
ZUS/CUS with MM’s recommendation.

Matching Insurance:On lives of parents and Siblings is to be insisted.
Same is not required:
Up to 10 lakhs S.A – If PWB is not opted.
Up to 25 lakhs S.A – If PWB is opted.

Grand Parents as Proposer: Allowed without PWB with consent of parents.

NRIs & FNIOs Residence Group:

  • Group I to III : Not Allowed.
  • Group IV : Allowed with extra.
  • Group V : Allowed without extra.
  • Mail order : Only NRIs of Group V

Leave a Reply




sixteen − 5 =

Time limit is exhausted. Please reload CAPTCHA.