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SHRI VIDYA is a life Insurance plan that provides security for the child's education. The premium is payable at regular intervals during the term of the policy. Life cover will be available throughout the policy term.
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Sum Assured and vested bonuses, will be paid and 1% of the sum Assured will be payable monthly till the end of the policy term.
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25% of the Sum Assured will be paid at the end of each year during the last four consecutive years of the policy term if the life assured dies or survives the term, i.e., at the end of n-3, n-2, n-1 and n years, where n is the policy term.
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Vested bonus will be paid at the end of the policy term
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Simple reversionary bonus will accrue during the policy term.
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The Guaranteed surrender value under the policy will be equal to 30% of the total amount of premium paid excluding the premium for the first year and premiums paid for all extras and riders if any, provided a minimum of three years premiums are paid and three years have elapsed from the date of commencement of the policy.
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Loan will be available up to 90% of the surrender value of policy. The company will determine the rate of interest to be charged on such loan amount from time to time.
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ACCIDENT BENEFIT RIDER
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