prarthana 1This is a specially designed plan under which the money is available at prespecified intervals for child's education at secondary and/or college levels and/or for professional studies.

This is a with profit money back plan with guaranteed additions under which regular payment of premium ceases on the policy anniversary coinciding with or immediately following the completion of 17 years of age. No premium is payable under the policy on and after completion of 18 years of age by the Life assured and survival benefit installments are paid thereafter.


Installment benefits:

The sum assured under this plan will be paid in installments at periodic intervals and 25% of the sum assured on survival on each of the policy anniversaries coinciding with or immediately following the completion of 18 year, 20 years, 22 years and 24 of age by the Life assured respectively.

Guaranteed additions:

An amount of SLRs.50 per thousand sum assured will accrue to the policy at the end of each policy year by way of guaranteed additions during the first five years provided the policy is in force for full sum assured.

The guaranteed additions will be payable on death or maturity provided the risk has commenced under the policy.

Maturity benefit:

Payment of all accrued guaranteed additions and vested bonuses on the policy anniversary coinciding with or immediately following the completion of 26 years of age by the Life assured.

Death benefit:

  • On death of the proposer during the premium payment term where premium waiver benefit is not granted

No benefit is payable under the policy immediately. The surviving legal guardian will be required to keep the policy in force through payment of regular premium else the policy will lapse or become paid up depending upon the policy conditions with regard to payment of premiums.

  • On death of the proposer during the policy term where term assurance rider is granted full sum assured.
  • On death of the life assured before the commencement of risk:

All the premiums paid excluding PWB, Term rider benefit and any other under the policy will be refunded.

  • On death of life assured after commencement of risk but before the date of maturity:

Payment of full sum assured together with guaranteed additions and the vested bonuses irrespective of payment of any survival benefit installment already made on becoming due, for this purpose, the guaranteed additions are assumed to accrue immediately on the policy anniversary and not at the end of the policy year.

  • The contract will get terminated when all the events as envisaged have taken place and the policy will, thereafter stand cancelled.

Accident benefit:

This benefit is not available under the plan for both life proposed and the proposer.


Restrictions for Children:

  • Minimum age at entry - 0
  • Maximum age at entry - 15
  • Maturity age - 26
  • Premium payment - Single premium and regular premium
  • Minimum PPT - 3 years for regular premium
  • Maximum PPT - 18 years
  • Minimum policy term - 26
  • Minimum SA - 200,000
  • Maximum SA - 1,000,000