Child Plans

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The worry that tops the list for a parent is, “how to meet the rising cost of education? You start saving for your children quite early. You plan and save to be able to deal with the costs of higher education or to make their life financially secure till the time they become independent. A child insurance plan is an important step in the direction. Child plans are designed in a manner that you are able to provide financial support to the child at crucial stages in their life.
Maturity of child plans generally coincides with specific stage in the life of a child like going for a professional course or higher education, stepping into a new career or marriage. These stages are typical at the age of 18 years, 21 years or 24 years. For you, these are occasions when you might need extra funds to manage the situation comfortably. So, planning for child insurance also gives you a peep into your own future financial requirements over the time as the child grows. Buying a child plan is an important decision where you need to consider a lot of factors. Consider before you buy:
• PAYER BENEFIT AND WAIVER OF PREMIUM - Premium waiver in a child plan implies that if the parent does not survive the policy term, all future premiums will be waived off and the policy will still remain in force. The child will get all the maturity benefits as planned. Many companies have Premium Waiver inbuilt in the child insurance policy, whereas others offer it as riders. It is always better to include payer benefit or premium waiver in the child insurance policy.
• ALLOCATION CHARGE - Allocation charge is the amount deducted by the insurance company from the premium before investing in various funds. It varies as per the type of fund, maximum being for equity funds, and minimum for debt funds. It reduces with the risk involved. Allocation charges may be negligible in traditional plans but more prominent in ULIPS.
• RIDERS AVAILABLE - To ensure that the child plan does not lapse in case the payer does not survive the policy term, there are certain riders available with it. The most important child plan riders are payer benefit and waiver of premium. Other riders are dreaded diseases or personal accident benefit. Depending upon the insurance company and the insurance policy, these can be inbuilt, optional, or not available. It is important to select the riders carefully.
• GUARANTEED BENEFIT - Guaranteed benefit is a percentage of sum assured that is guaranteed by the insurance company in addition to the maturity amount. This assured amount is given to the policyholder for the number of years the premium has been paid. It is payable at the maturity date along with the maturity amount.
• LOYALTY ADDITION - Loyalty addition is an additional amount declared from time to time. It is a percentage of the sum assured and is in addition to the guaranteed benefit. It largely depends upon the performance of the insurance company. It is calculated on the number of years that the premium has been paid for. The percentage of additions varies every year.

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Sunrays Policy

Sector 63, Noida, Gautam Budh Nagar, Uttar Pradesh
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The worry that tops the list for a parent is, “how to meet the rising cost of education?” You start saving for your children quite early. You plan and save to be able to deal with the costs of higher education or to make their life financially secure till the time they become independent. A child insurance plan is an important step in the direction. Child plans are designed in a manner that you are able to provide financial support to the child at crucial stages in their life.

Maturity of child plans generally coincides with specific stage in the life of a child like going for a professional course or higher education, stepping into a new career or marriage. These stages are typical at the age of 18 years, 21 years or 24 years. For you, these are occasions when you might need extra funds to manage the situation comfortably. So, planning for child insurance also gives you a peep into your own future financial requirements over the time as the child grows. Buying a child plan is an important decision where you need to consider a lot of factors.

Consider before you buy:

• PAYER BENEFIT AND WAIVER OF PREMIUM - Premium waiver in a child plan implies that if the parent does not survive the policy term, all future premiums will be waived off and the policy will still remain in force. The child will get all the maturity benefits as planned. Many companies have Premium Waiver inbuilt in the child insurance policy, whereas others offer it as riders. It is always better to include payer benefit or premium waiver in the child insurance policy.

• ALLOCATION CHARGE - Allocation charge is the amount deducted by the insurance company from the premium before investing in various funds. It varies as per the type of fund, maximum being for equity funds, and minimum for debt funds. It reduces with the risk involved. Allocation charges may be negligible in traditional plans but more prominent in ULIPS.

• RIDERS AVAILABLE - To ensure that the child plan does not lapse in case the payer does not survive the policy term, there are certain riders available with it. The most important child plan riders are payer benefit and waiver of premium. Other riders are dreaded diseases or personal accident benefit. Depending upon the insurance company and the insurance policy, these can be inbuilt, optional, or not available. It is important to select the riders carefully.

• GUARANTEED BENEFIT - Guaranteed benefit is a percentage of sum assured that is guaranteed by the insurance company in addition to the maturity amount. This assured amount is given to the policyholder for the number of years the premium has been paid. It is payable at the maturity date along with the maturity amount.

• LOYALTY ADDITION - Loyalty addition is an additional amount declared from time to time. It is a percentage of the sum assured and is in addition to the guaranteed benefit. It largely depends upon the performance of the insurance company. It is calculated on the number of years that the premium has been paid for. The percentage of additions varies every year.


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Child Plans

About the Company

Nature of BusinessService Provider
IndiaMART Member SinceApr 2016

Sunrays policy is India’s new emerging insurance service provider company seeking both life and non life insurance. Sunrays itself means getting the rays of light in your life and its policy protect the life of human beings. Here we help you to find the insurance plan that best suits your needs, after factoring in the features and benefits you wish to avail at a price you can afford. Our main objectives are to cover the risk, planning for life stage needs, safe and profitable long term investment, assured income through annuities , growth through dividend , tax benefit etc. Each case is different but most people take out life insurance to ensure that their family is financially secure and can continue to maintain their standard of living even after unexpected death.

We believe that more you ask, the better are the chances that you end up with buying the right policy. Insurance gives you peace of mind and you know that if anything happens to you, your family or your business then insurance is the only source which may going to support you.

The best course of action is to prepare for the worst and hope for the best. To put it simply, shine your future!!

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Seller Contact Details

Rajiv Singhal

B-47, First Floor, B Block, Sector 63 , Sector 63 Noida - 201301, Gautam Budh Nagar, Uttar Pradesh, India

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