Ever wondered what would happen to your child’s education plan if something were to happen to you because of an accident? That’s why it’s important for you to have a Child Education Cover in place, so that an accident doesn’t hamper your child’s education. This child education insurance plan provides sum insured of up to Rs. 10 Lakh, in case of the insured's Accidental Death or Permanent Total Disablement, so that his child's educational pursuits do not take a financial hit.
The insured gets a Sum Insured of Rs. 5 Lakh in case of Death or Permanent Total Disability due to an accident and an additional Child Education benefit amount of Rs. 5 Lakh.
The insured gets a Sum Insured of Rs. 5 Lakh in case of Death or Permanent Total Disability due to an accident and an additional Child Education benefit amount of Rs. 10 Lakh.
Filing claims was never so simple. Just follow these steps and you’re done!
If you meet with any Accidental Bodily Injury that may result in a claim, then as a condition precedent to our liability:
a. You or someone claiming on your behalf must inform us in writing immediately and in any event within 30 days from the date of the accident and submit all documents to us within 30 days from the date of intimation.
b. You must immediately consult a Doctor and follow the advice and treatment that he recommends.
c. You must take reasonable steps to lessen the consequence of Bodily injury.
d. You should allow examination by our medical advisors if we ask for this.
e. You or someone claiming on your behalf must promptly give us documentation and other information we ask for to investigate the claim or our obligation to make payment for it.
f. In case of your death, someone claiming on your behalf must inform us in writing immediately and send us a copy of the post mortem report (if conducted) within 30 days.
*Note: Waiver of conditions (a) and (f) may be considered in extreme cases of hardship where it is proved to Our satisfaction that under the circumstances in which the Insured Person was placed, it was not possible for the Insured Person or any other person claiming on his/her behalf to give notice or file claim within the prescribed time limit.
Period in Risk |
Premium Refund |
||
Policy Period 1 Year |
Policy Period 2 Year |
Policy Period 3 Year |
|
Within 15 Days |
Pro-Rate Refund |
||
Exceeding 15 days but less than 2 months |
75.00% |
80.00% |
85.00% |
Exceeding 2 months but less than 4 months |
60.00% |
75.00% |
80.00% |
Exceeding 4 months but less than 6 months |
45.00% |
65.00% |
75.00% |
Exceeding 6 months but less than 8 months |
30.00% |
60.00% |
70.00% |
Exceeding 8 months but less than 10 months |
15.00% |
50.00% |
65.00% |
Exceeding 10 months but less than 12 months |
0.00% |
45.00% |
60.00% |
Exceeding 12 months but less than 14 months |
|
35.00% |
55.00% |
Exceeding 14 months but less than 16 months |
|
30.00% |
50.00% |
Exceeding 16 months but less than 18 months |
|
20.00% |
45.00% |
Exceeding 18 months but less than 20 months |
|
15.00% |
40.00% |
Exceeding 20 months but less than 22 months |
|
5.00% |
35.00% |
Exceeding 22 months but less than 24 months |
|
0.00% |
30.00% |
Exceeding 24 months but less than 26 months |
|
|
25.00% |
Exceeding 26 months but less than 28 months |
|
|
20.00% |
Exceeding 28 months but less than 30 months |
|
|
15.00% |
Exceeding 30 months but less than 32 months |
|
|
10.00% |
Exceeding 32 months but less than 34 months |
|
|
5.00% |
Exceeding 34 months but less than 36 months |
|
|
0.00% |
However, if any claim has been made then no refund will be given for cancellation of policy.
Link to redirect customers to links category.
Need further assistance? Reach out on the Toll-Free Number: 1800-209-5858 to connect with an insurance expert.
3 reviews
When I had my first child, I invested in small plans that could be a financial back-up for my child's educational expenses. The plan worked as a blessing when I recently lost me with an accident and could not rejoin work due to my disability. It took care of my child's educational expenses.
Posted on 10 Mar 20
My friend suggested me this product when my first child was born. Planning for my daughter's educational expenses included getting a standalone child education cover, so I could rest assured, so incase of uncertainties, her educational expenses would be taken care. Thank you Finserv MARKETS.
Posted on 23 Jan 20
I could literally buy the child education cover in minutes. The process was so fast and did not involve too many steps. It was very easy to get it online thanks to the seamless journey.
Posted on 30 Dec 19