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1. LIC’sLIC’s
CHILDCHILD
FUTURE PLANFUTURE PLAN
(WITH PROFITS)(WITH PROFITS)
(PLAN No. 185)(PLAN No. 185)
Satyendra Gupta (Satyendra Gupta (
everyoneinsured@gmail.comeveryoneinsured@gmail.com) - 9899307833) - 9899307833
Launching…

2. CHILD FUTURE PLANCHILD FUTURE PLAN
 This is a Children’s Plan (educational,This is a Children’s Plan (educational,
marriage and other needs) which providesmarriage and other needs) which provides
the risk cover on the life of child not onlythe risk cover on the life of child not only
during the policy term but also during theduring the policy term but also during the
extended term (i.e. 7 years after theextended term (i.e. 7 years after the
expiry of policy term).expiry of policy term).
 A number of Survival benefits are alsoA number of Survival benefits are also
payable.payable.
 The policy is available for terms 11 to 27The policy is available for terms 11 to 27
years. Premiums may be paid either for 6years. Premiums may be paid either for 6
years or up to 5 years before the policyyears or up to 5 years before the policy
term. The Extended term will be 7 yearsterm. The Extended term will be 7 years
from the date of expiry of policy term.from the date of expiry of policy term.
No premiums are payable during theNo premiums are payable during the
Extended term of plan.Extended term of plan.

3. Benefits of the PlanBenefits of the Plan
Survival BenefitSurvival Benefit ::
On life assured surviving to the end of the specifiedOn life assured surviving to the end of the specified
durations an amount as specified below is payable:durations an amount as specified below is payable:
 5 years before the date of expiry of policy term - 25% of5 years before the date of expiry of policy term - 25% of
the Sum Assuredthe Sum Assured
 4 years before the date of expiry of policy term - 10% of4 years before the date of expiry of policy term - 10% of
the Sum Assuredthe Sum Assured
 3 years before the date of expiry of policy term - 10% of3 years before the date of expiry of policy term - 10% of
the Sum Assuredthe Sum Assured
 2 years before the date of expiry of policy term - 10% of2 years before the date of expiry of policy term - 10% of
the Sum Assuredthe Sum Assured
 1 years before the date of expiry of policy term - 10% of1 years before the date of expiry of policy term - 10% of
the Sum Assuredthe Sum Assured
 On the date of expiry of policy term - 50% of the SumOn the date of expiry of policy term - 50% of the Sum
Assured along with vested Simple Reversionary Bonuses andAssured along with vested Simple Reversionary Bonuses and
Final (Additional) Bonus, if any.Final (Additional) Bonus, if any.

4. Benefits of the PlanBenefits of the Plan
Death BenefitDeath Benefit ::
 On death after the Date of Commencement of RiskOn death after the Date of Commencement of Risk
but before the date of expiry of policy termbut before the date of expiry of policy term -Sum-Sum
Assured along with Vested Simple ReversionaryAssured along with Vested Simple Reversionary
Bonuses and Final (Additional) bonus (if any) isBonuses and Final (Additional) bonus (if any) is
payable.payable.
 On death during the Extended TermOn death during the Extended Term - Sum Assured- Sum Assured
is payable.is payable.
 On death before the Date of Commencement ofOn death before the Date of Commencement of
RiskRisk - All the premiums paid (excluding premium for- All the premiums paid (excluding premium for
extra and premium waiver benefit, if any,) alongextra and premium waiver benefit, if any,) along
with interest of 3% p.a. compounding yearly shall bewith interest of 3% p.a. compounding yearly shall be
payable.payable.

5. Participation in ProfitsParticipation in Profits
 Provided the policy is in full force, this policy will beProvided the policy is in full force, this policy will be
eligible for a Simple Reversionary Bonus.eligible for a Simple Reversionary Bonus.
 In case of a paid up policy vested bonuses shall beIn case of a paid up policy vested bonuses shall be
payable only if at least 3 full years’ premiums have beenpayable only if at least 3 full years’ premiums have been
paid.paid.
 Not withstanding what is stated above, no bonus shallNot withstanding what is stated above, no bonus shall
vest under the policy when the risk is not covered.vest under the policy when the risk is not covered.
However, the Simple Reversionary Bonuses for the periodHowever, the Simple Reversionary Bonuses for the period
before the Commencement of Risk will vest on the policybefore the Commencement of Risk will vest on the policy
anniversary from which the risk is covered provided theanniversary from which the risk is covered provided the
policy is in full force and 3 full years premiums havepolicy is in full force and 3 full years premiums have
been paid under the policy.been paid under the policy.
 Final (Additional) Bonus may also be declared under theFinal (Additional) Bonus may also be declared under the
policy which shall be payable on expiry of the policypolicy which shall be payable on expiry of the policy
term, or on earlier death.term, or on earlier death.
 Once the bonus or their cash value is paid, no furtherOnce the bonus or their cash value is paid, no further
bonus shall accrue under the policy.bonus shall accrue under the policy.

6. Auto CoverAuto Cover
 If after at least two full year’s premiums have beenIf after at least two full year’s premiums have been
paid, and any subsequent premium be not duly paid, fullpaid, and any subsequent premium be not duly paid, full
death cover shall continue for a period of two yearsdeath cover shall continue for a period of two years
from the due date of the First Unpaid Premium (FUP).from the due date of the First Unpaid Premium (FUP).
This period of 2 years from FUP shall be called AutoThis period of 2 years from FUP shall be called Auto
Cover Period. During this Auto Cover Period, theCover Period. During this Auto Cover Period, the
Proposer/ Life Assured can pay one or more instalmentsProposer/ Life Assured can pay one or more instalments
premiums with interest without submission of evidence ofpremiums with interest without submission of evidence of
health. On payment of one or more of the arrears ofhealth. On payment of one or more of the arrears of
instalment premiums with interest, the Auto Cover Periodinstalment premiums with interest, the Auto Cover Period
of 2 years shall be extended from the due date of newof 2 years shall be extended from the due date of new
FUP.FUP.
 If death of Life Assured occurs during the Auto CoverIf death of Life Assured occurs during the Auto Cover
period, then death benefit after deducting unpaidperiod, then death benefit after deducting unpaid
premiums, with interest, as also premiums falling duepremiums, with interest, as also premiums falling due
before the next anniversary of the policy, is payablebefore the next anniversary of the policy, is payable
alongwith the vested bonus, if any.alongwith the vested bonus, if any.
 Premium Waiver Benefit, if any, shall remain inforcePremium Waiver Benefit, if any, shall remain inforce
during the Auto Cover period.during the Auto Cover period.

7. Premium Waiver BenefitPremium Waiver Benefit The proposer can avail the premium waiver benefit, onThe proposer can avail the premium waiver benefit, on
the payment of an additional premium.the payment of an additional premium.
 On availing this benefit the payment of the premiumsOn availing this benefit the payment of the premiums
falling due after the death of the proposer shall befalling due after the death of the proposer shall be
waived. The Premium Waiver Benefit shall remain inwaived. The Premium Waiver Benefit shall remain in
force during the Auto cover period.force during the Auto cover period.
 The Premium Waiver Benefit as stated in (a) shall beThe Premium Waiver Benefit as stated in (a) shall be
granted on the basis of the proposer's age, personalgranted on the basis of the proposer's age, personal
declaration of health and other requirements.declaration of health and other requirements.
 The Premium Waiver Benefit described in (a) and (b)The Premium Waiver Benefit described in (a) and (b)
shall not operate in the event of the death of theshall not operate in the event of the death of the
proposer by his own hands, whether sane or insane withinproposer by his own hands, whether sane or insane within
one year from the date of issuance of First Premiumone year from the date of issuance of First Premium
Receipt;Receipt;
 The premium rates and extra premium rates for PremiumThe premium rates and extra premium rates for Premium
waiver Benefit are given in Annexure 3 & 4 respectively.waiver Benefit are given in Annexure 3 & 4 respectively.

8. Eligibility Conditions and RestrictionsEligibility Conditions and Restrictions
 For Life AssuredFor Life Assured
(a) Minimum Entry Age(a) Minimum Entry Age :: 0 Years (LBD)0 Years (LBD)
(b) Maximum Entry Age(b) Maximum Entry Age :: 12 years (LBD)12 years (LBD)
(c) Minimum Maturity Age :(c) Minimum Maturity Age : 23 years (LBD)23 years (LBD)
(d) Maximum Maturity Age :(d) Maximum Maturity Age : 27 years (LBD)27 years (LBD)
(e) Minimum Sum Assured : Rs. 1,00,000(e) Minimum Sum Assured : Rs. 1,00,000
(f) Maximum Sum Assured : Rs. 100 ,00,000(f) Maximum Sum Assured : Rs. 100 ,00,000
(g) Policy term : 11 to 27 years(g) Policy term : 11 to 27 years
(h) Premium Paying term : 6 and Policy term less 5 years(h) Premium Paying term : 6 and Policy term less 5 years
‘‘Sum Assured shall be in multiples of Rs. 5000’Sum Assured shall be in multiples of Rs. 5000’
 For ProposerFor Proposer (If PWB is Opted for)(If PWB is Opted for)
(a) Minimum Entry Age(a) Minimum Entry Age :: 18 years (completed)18 years (completed)
(b) Maximum Entry Age(b) Maximum Entry Age:: 55 years (NBD)55 years (NBD)
(c) Maximum Age at the end of premium paying term: 70(c) Maximum Age at the end of premium paying term: 70
years (NBD)years (NBD)

9. Special FeaturesSpecial Features
 Date of commencement of riskDate of commencement of risk : : In case the age ofIn case the age of
Life Assured at entry is less than or equal to 10 years,Life Assured at entry is less than or equal to 10 years,
risk under this plan shall commence either after 2 yearsrisk under this plan shall commence either after 2 years
from the date commencement of the policy or from thefrom the date commencement of the policy or from the
policy anniversary coinciding with or immediately followingpolicy anniversary coinciding with or immediately following
the completion of 5 years of age of Life assured,the completion of 5 years of age of Life assured,
whichever is later. Where the age at entry is more thanwhichever is later. Where the age at entry is more than
10 years but less than 12 years, the risk shall10 years but less than 12 years, the risk shall
commence from the policy anniversary coinciding with orcommence from the policy anniversary coinciding with or
next following 12th birthday of the Life Assured. Fornext following 12th birthday of the Life Assured. For
those aged 12 years or more risk will commencethose aged 12 years or more risk will commence
immediately.immediately.
 Date of VestingDate of Vesting: The policy shall automatically vest in: The policy shall automatically vest in
the Life Assured on the policy anniversary coinciding withthe Life Assured on the policy anniversary coinciding with
or immediately following the completion of 18 years ofor immediately following the completion of 18 years of
age and shall, on such vesting, be deemed to be aage and shall, on such vesting, be deemed to be a
contract between the Corporation and the Life Assured.contract between the Corporation and the Life Assured.

10. RebatesRebates
 Mode Rebate:Mode Rebate:
Yearly mode -Yearly mode - 2% of Tabular Premium2% of Tabular Premium
Half-yearly mode - 1% of the tabular premiumHalf-yearly mode - 1% of the tabular premium
Quarterly - NILQuarterly - NIL
 Sum Assured Rebate:Sum Assured Rebate:
Sum AssuredSum Assured Rebate (Rs.)Rebate (Rs.)
1,00,000 to 2,99,9991,00,000 to 2,99,999 NilNil
3,00,000 to 4,99,9993,00,000 to 4,99,999 1.5 %o S.A.1.5 %o S.A.
5,00,000 and above5,00,000 and above 2 %o S.A.2 %o S.A.

11. Miscellaneous: LapsationMiscellaneous: Lapsation
 If at least 3 full years’ premiums are paid, andIf at least 3 full years’ premiums are paid, and
subsequent premiums are not paid, the policy shallsubsequent premiums are not paid, the policy shall
become paid-up. Before the Commencement of Risk, thebecome paid-up. Before the Commencement of Risk, the
policy shall be entitled to receive the GSV. After riskpolicy shall be entitled to receive the GSV. After risk
commences, the sum assured of policy shall be reducedcommences, the sum assured of policy shall be reduced
to paid-up value. The policy shall not be entitled toto paid-up value. The policy shall not be entitled to
participate in future profits and no survival benefitsparticipate in future profits and no survival benefits
shall be payable and the paid-up value along with vestedshall be payable and the paid-up value along with vested
bonuses, shall be payable on the expiry of policy term orbonuses, shall be payable on the expiry of policy term or
death of Life Assured. If the policy is in lapsed/ paid-death of Life Assured. If the policy is in lapsed/ paid-
up condition, Premium Waiver Benefit shall cease toup condition, Premium Waiver Benefit shall cease to
apply after the Auto Cover period. The Extended Termapply after the Auto Cover period. The Extended Term
Cover shall also cease.Cover shall also cease.
 If less than 2 years premiums have been paid and theIf less than 2 years premiums have been paid and the
policy lapses then nothing shall be payable. If more thanpolicy lapses then nothing shall be payable. If more than
2 but less than 3 years premiums have been paid and the2 but less than 3 years premiums have been paid and the
policy lapses and death occurs during the Auto Coverpolicy lapses and death occurs during the Auto Cover
period, then death benefit as described in Auto Coverperiod, then death benefit as described in Auto Cover
shall be payable. If death occurs after the auto Covershall be payable. If death occurs after the auto Cover
period, then nothing shall be payable. On expiry ofperiod, then nothing shall be payable. On expiry of
policy term nothing shall be payable.policy term nothing shall be payable.

12. Miscellaneous: GSV & SSVMiscellaneous: GSV & SSV
 Guaranteed Surrender ValueGuaranteed Surrender Value:: The policy can beThe policy can be
surrendered provided at least 3 full years' premiums havesurrendered provided at least 3 full years' premiums have
been paid.been paid. Before the Date of Commencement of RiskBefore the Date of Commencement of Risk: 90: 90
percent of the total amount of the premiums paid excludingpercent of the total amount of the premiums paid excluding
the premiums paid for the first year &the premiums paid for the first year & After the Date ofAfter the Date of
Commencement of RiskCommencement of Risk: 90 percent of the total amount of: 90 percent of the total amount of
the premiums paid before the Date of Commencement ofthe premiums paid before the Date of Commencement of
Risk, together with 30 percent of total amount of premiumsRisk, together with 30 percent of total amount of premiums
paid on and after Date of Commencement of Risk excludingpaid on and after Date of Commencement of Risk excluding
the premiums for the first year. This shall exclude the totalthe premiums for the first year. This shall exclude the total
amount of survival benefits paid, extra premiums andamount of survival benefits paid, extra premiums and
premium for Premium Waiver Benefit. Cash Value of vestedpremium for Premium Waiver Benefit. Cash Value of vested
bonuses is also payable.bonuses is also payable.
 Special Surrender ValuesSpecial Surrender Values:: The discounted factor shall beThe discounted factor shall be
the factors used for Endowment Assurance plan and will bethe factors used for Endowment Assurance plan and will be
subject to the deduction of the survival benefits paid.subject to the deduction of the survival benefits paid.
 Grace period for payment of premiumGrace period for payment of premium:: A grace period ofA grace period of
one calendar month but not less than 30 days shall beone calendar month but not less than 30 days shall be
allowed for payment of yearly or half yearly or quarterlyallowed for payment of yearly or half yearly or quarterly
premium.premium.

13. Miscellaneous:Miscellaneous:
 Revivals or Reinstatements of lapsed policyRevivals or Reinstatements of lapsed policy:: IfIf
the Policy has lapsed, and the period of Auto Coverthe Policy has lapsed, and the period of Auto Cover
is over, it may be revived within a period of 5 yearsis over, it may be revived within a period of 5 years
from the due date of first unpaid premiumfrom the due date of first unpaid premium..
 LoansLoans:: No loans available.No loans available.
 Suicide ClauseSuicide Clause:: Not applicable for the basic plan.Not applicable for the basic plan.
 Cooling-off periodCooling-off period: Applicable.: Applicable.
 Back-dating interestBack-dating interest :: Applicable @ 8%..
 Assignments / NominationsAssignments / Nominations:: Not assignable by theby the
Proposer, but after vesting, Life Assured mayProposer, but after vesting, Life Assured may
appoint a nominee or nominees or create anappoint a nominee or nominees or create an
Assignment.Assignment.

14. USP’S OF THE PLANUSP’S OF THE PLAN
 Innovative Children’s Money Back PolicyInnovative Children’s Money Back Policy
 Survival Benefit + Maturity - 115% of SumSurvival Benefit + Maturity - 115% of Sum
AssuredAssured
 Auto Cover Facility in Children’s PlanAuto Cover Facility in Children’s Plan
 Flexi Term OptionsFlexi Term Options
 Extended Term Risk CoverExtended Term Risk Cover
 Suicide Clause NOT Applicable on Basic PlanSuicide Clause NOT Applicable on Basic Plan
 Parents’ Insurance NOT Insisted (2 Lac forParents’ Insurance NOT Insisted (2 Lac for
without PWB & 5 Lac for with PWB Policies)without PWB & 5 Lac for with PWB Policies)
 Income Tax Benefits U/S 80C & 10.10.DIncome Tax Benefits U/S 80C & 10.10.D

15. USP’S OF THE PLANUSP’S OF THE PLAN
 Suits Male as well as Female ChildSuits Male as well as Female Child
 With Profit PlanWith Profit Plan
 Assignment Possible After VestingAssignment Possible After Vesting
 Premium Waiver Benefit AvailablePremium Waiver Benefit Available

16. Market PotentialMarket Potential
 Children’s Policies - Lucrative Segment:Children’s Policies - Lucrative Segment:
 Emotional SellingEmotional Selling
 Higher Average FPI/Premium per PolicyHigher Average FPI/Premium per Policy
 No Surrenders/No Lapsation/No Early ClaimsNo Surrenders/No Lapsation/No Early Claims