The document outlines a unit-linked children's benefit endowment plan, which provides risk cover to parents for their child's education or marriage, with options for fund selection, premium waivers, and various withdrawals. Key features include multiple fund types based on risk profiles, benefits payable on death or maturity, and specific provisions for policy surrender and revival. Additional elements include charge structures, eligibility conditions, and a focus on flexible terms to enhance policyholder satisfaction.

1. Unit Linked Children Benefit Endowment Plan
Plan No 194 UIN (Unique Identification Number 512L251V01)

2. What is Child Fortune Plus
• Unit Linked Children Benefit Endowment Plan
• Risk Cover to Parents – Provision for the
Education or the Marriage of the Child (Up to
Entry Age 17 LBD)
• Term till Child Attains the Age of 25 or the
Parent (LA) Attains Age of 75 (whichever
earlier)
• Death Claim Payment + Premium Waiver +
Maturity Benefit (Fund Value) in case of Early
Death of the Parent LA
• Four Fund Types
• No Bid-Offer Spread - No Surrender Charges
• Settlement Option for Maturity Payment
• Top Up as well as Partial Withdrawal Allowed

3. INVESTMENT FUND TYPES & INVESTMENT PATTERN
Fund Type Govt. /
Govt.
Guaranteed
Securities
Short-term
money market
instruments
( Govt.
Securities)
Listed
Equity
Shares
Risk Profile
Bond Fund Not less
than 60%
Not more than
40%
Nil Low Risk
Steady Income
Secure Fund Not less
than 45%
Not more than
40%
Between
15% to 55%
Lower to Medium
Risk
Balanced Income &
Growth
Balanced
Fund
Not less
than 30%
Not more than
40%
Between
30% to 70%
Medium Risk
Long Term Capital
Growth
Growth Fund Not less
than 20%
Not more than
40%
Between
40% to 80%
High Risk
High Growth Long
Term
The Policyholder will have the option to choose any ONE of the above 4 Funds.

4. Benefits
• Benefits Payable on Death:
Life Assured (if child is alive): In Force Policy - Sum
Assured + Future Premiums Waived (regular policy) +
Units (Future/Outstanding premiums) Maturity Value;
Lapsed Policy - Fund Value + Policy Terminates.
Life Assured (after the death of child): Sum Assured +
Fund Value + Future/Outstanding premiums + Policy
Terminates. (same on simultaneous death).
Child before Life Assured’s Death: Policy continues till
Maturity or till LA survives (whichever earlier).
Child after Life Assured’s Death: Fund Value + Policy
Terminates.
• Benefits payable on maturity: On the life assured or
the child nominee surviving the date of maturity an
amount equal to the Policyholder’s Fund Value is payable.

5. Discontinuation of Premiums
If premiums have not been paid within the days of grace,
the Policy will lapse. The life assured shall have an
option to revive the policy within the Revival Period.
Where at least 3 years’ premiums have been paid, the
Life cover and Premium Waiver Benefit shall continue
by canceling an appropriate number of units out of the
Policyholder’s Fund every month for: two years from
the due date of first unpaid premium, or till date of
maturity, or till such period that the Policyholder’s
Fund Value reduces to an amount equal to one
annualised premium, whichever earlier.
Compulsory surrender: If Policyholder’s Fund falls below one
annualised premium the policy shall compulsorily be
terminated OR In case the policy is not revived during the
period of revival, then the policy shall be terminated
after completion of three years from the DOC of the
policy or on expiry of revival period, whichever is later.

6. Additional Features
• Switching: 4 Switches Free in a Year, there
after @ Rs.100 per switch For In-Force
Policies.
• Top Up: Allowed in the Multiples of INR 1000 up
to the Extent of 25% of Single Premium or
Premiums Paid (Regular Policy) without increase in
SA.
• Partial Withdrawals: Allowed.
• Increase/Decrease in Benefits: Not Allowed.
• Loans: Not Allowed.
• Life Cover beyond Revival Period: Optional

7. Premium Allocation Charges
Premium Band
(Single Premium)
Allocation Charge
Single Premium
Up to 10,00,000 4.25%
10,00,001 and above 4.00%
Premium Band
(per annum)
Allocation Charge
Annual Premium
First year 2nd & 3rd year thereafter
10,000 to 1,00,000 29.00% 5.00% 2.50%
1,00,001 to 1,50,000 28.50% 5.00% 2.50%
1,50,001 to 2,00,000 28.00% 5.00% 2.50%
2,00,001 and above 27.50% 5.00% 2.50%
Top Up 1.25%

8. Other Charges
• Mortality Charges: Life Cover and Premium Waiver
Benefit (the Sum at Risk) every month by canceling
units The charges, will be based on the age NBD.
• Policy Administration Charges: Rs.60/- PM in the 1st
Year of Policy and thereafter Rs.20/- PM (clause to
increase @ 3% PA 3rd
Year on).
• Miscellaneous Charges: Rs.50/- as Alteration Fee
for allowable alterations.
• Switching Charges: Rs.100/- per switch if the
switches exceed 4 in a Policy Year.
• Surrender Charges: NIL
• Bid-Offer Spread: NIL

9. Other Charges
• Fund Management Charges: Charges per annum as
%age of Unit Fund at the following rates :
“Bond” Fund – 0.60%
“Secured” Fund – 0.80%
“Balanced” Fund – 1.00%
“Growth” Fund – 1.20%
The NAV, thus declared, will be net of FMC.
• Service Tax Charges: On the Life Cover & PWB,
Policy Administration, Switching, Alteration and
Allocation Charges by canceling units.
• RIGHT TO REVISE CHARGES: The Corporation
reserves the right to revise all or any of the above
charges,

10. Eligibility Conditions
Minimum Sum Assured: Regular Premium 5 times
the annualized premium; Single Premium 1.25
times the single premium
Maximum Sum Assured: Regular Premium 25 times
of the annualized premium (Entry age up to 45
Yrs NBD); 15 times (Entry age 46 Yrs & above
NBD); Single Premium 5 times of the single
premium (Entry age up to 35 Yrs NBD); 2.5
times (Entry age 36 to 46 Yrs NBD); 1.25 times
(Entry age up to 46 Yrs & above NBD).
The Sum Assured shall be available in multiples of
INR 5,000.
As the condition of maximum and minimum Sum Assured is 1.25 times
of the single premium if age at entry is 46 nearest birthday and
above the maximum sum assured condition shall be relaxed to this
extent.

11. Eligibility Conditions
• Minimum Premium: Regular Premium INR 10000
PA increasing thereafter in multiples of INR
1000 (INR 1000 PM for ECS mode, increasing in
multiples of INR 250). Single Premium Policies:
25,000 p.a.
• Maximum Premium: : No Limit
• Minimum Entry Age (Life Assured): 18 LBD
• Maximum Entry Age (Life Assured): 55 NBD
• Minimum Entry Age Child: 0 LBD
• Maximum Entry Age Child: 17 LBD
• Policy Term: (25 - age LBD at entry of the
child) or (75 - age NBD at entry of life
assured), whichever is lower
• Maximum Maturity Age: 25 LBD of child or 75
NBD of life assured, whichever is earlier.

12. Surrender of Policy
• The surrender value, if any, is payable only
after completion of the third policy anniversary.
There will be no Surrender charge.
• If Life Assured applies for surrender of the
policy within 3 years from the DOC of policy,
then the Policyholder’s Fund Value shall be
converted into monetary terms. No charges shall
be made thereafter and this monetary amount
shall be paid on completion of 3 years from the
DOC of policy.
• After the death of the LA, the Child (major) or
the appointee can also surrender the policy.
• Once a policy is surrendered it cannot be
reinstated.

13. Partial Withdrawals
• Fixed Amount or Fixed Number of Units.
• Under regular premium if premiums have been paid for
less than 3 years, the partial withdrawal not allowed.
• Under regular premium policies where at least 3 years
premiums have been paid, partial withdrawal allowed
subject to a minimum balance of 2 annualized premiums.
• Under Single Premium policies, the partial withdrawal will
be allowed subject to a minimum balance of Rs.5000/-or
10% of single premium, whichever is higher.
• Partial withdrawal from Fund pertaining to top-up
premiums allowed only after completion of 3 years from
the date of allocation. (top-up premiums paid during the
last three years are exempted).
• After the death of life assured during the policy term,
partial withdrawal may be made by the child named in
the policy if he/she is major i.e. after completion of 18
years of age or by the appointee if the child is a minor
subject to an undertaking.

14. Revival of Lapsed Policy
• A lapsed policy can be revived during the period of two
years from the due date of first unpaid premium or
before maturity, whichever is earlier ‘revival period’.
• If premiums have not been paid for at least 3 full
years, the policy may be revived within two years from
the due date of first unpaid premium. Proof of Good
Health & Approval of Revival is required.
• If at least 3 years’ premiums have been paid and
subsequent premiums are not paid, the policy may be
revived within two years without a proof of continued
insurability.
• If less than 3 years premiums have been paid and Value
of units is not sufficient to recover the charges, the
policy shall be terminated and revival will not be allowed.
• If premiums have been paid for 3 or more than 3 years
and Value of units reduces to one annualized premium,
the policy shall be terminated and Fund Value as on date
shall be refunded and revival will not be allowed.

15. Other Features
• Cooling Off: Within 15 days from the date of
receipt of the policy.
• Back Dating: Not allowed.
• Assignment: Not allowed.
• Days of Grace: One calendar month but not less
than 30 days will be allowed for payment of yearly
or half-yearly or quarterly premiums and 15 days
for monthly (through ECS) premiums.
• Settlement Option: The installment shall be the
total number of units as on the date of maturity
divided by total number of installments (i.e. 5 and
10 respectively for yearly and half-yearly
installments over a 5 year period).

16. USP ’s of the Plan
• A Unique ULIP From the Leader – ‘Jeevan
Chhaya’ & ‘Plan 90’ in ULIP Avatar.
• LIC’s First ULIP for Child Benefit
• Only Plan having ‘Top Up’ as well as ‘Partial
Withdrawals’ Options.
• FLEXI OPTIONS – Settlement Option for
Maturity Proceeds
• FLEXI OPTIONS - Flexible Risk Cover
• FLEXI OPTIONS - Four Fund Types
• Death Benefit – SA + Waiver of Premium +
Maturity Value
• EASY EXIT - No Bid Offer Spread, No
Surrender Charges

17. USP ’s of the Plan
• FLEXI TERM (25 – Age of Child or 75 – Age of
LA)
• PARTIAL WITHDRAWALS & SETTLEMENT
OPTIONS – Money on Demand
• ATTRACTIVE LIQUIDITY - Surrender after 3
years; Anytime, Withdrawals
• FLEXIBLE – Single, Yearly, Half Yearly,
Quarterly & Monthly (ECS) Modes
• ULIP that could be Assigned
• Daily Declaration of the NAV
• FREE Fund Switches - Four per year
• IT Exemption U/S 80 C of IT Act 1961

18. Market Potential
• CHILDREN’S POLICY (Parent Cover Plan)
– Daughters’ Marriage/Education Policy
– Long Term Education Plan – Money Back on
Need (Withdrawals + Settlement Options)
• INSURANCE (Endowment Plan)
– Partial Withdrawal (Money Back on Demand)
– Flexible Risk Cover – Design Own Policy
– ULIP where Assignment is Permissible
• INVESTMENT (Single Premium Growth Fund)
– NRI Segment – Fund & Forget
– VRS & other Retirees – Park Funds
– ‘PPF’, ‘FDI’, ‘IVP’ & ‘KVP’ Segment