PROTECTION FOR YOUR CHILD
My Child policy from HNB Assurance is the best way to secure your child's future.
On the completion of premium payments, the benefits for your child begin - starting at 10% of the sum assured and growing by 2% each year up to 24% in the 8th year.
ON A SUM ASSURED OF RS. 200,000/-
10% - Rs. 20,000/- in the first year
12% - Rs. 24,000/- in the 2nd year
14% - Rs. 28,000/- in the 3rd year
16% - Rs. 32,000/- in the 4th year
18% - Rs. 36,000/- in the 5th year
20% - Rs. 40,000/- in the 6th year
22% - Rs. 44,000/- in the 7th year
24% - Rs. 48,000/- in the 8th year
- Life cover (for the parent) will continue for 8 years after premium payments cease.
- Declared annual bonus will be accumulated and paid as a lump sum on maturity.
- In the unfortunate event of your demise or total and permanent disablement during the premium payment period, your child’s annual benefit will increase up to FOUR times.
- In case of total and permanent disability during the premium payment period, the basic sum assured will be paid in ten (10) installments.
- If death is due to an accident, double the basic sum assured will be paid.
Extra Covers that can be selected
- Critical Illness Cover
- Partial Disability Cover
- Additional Death Cover
- Spouse Rider Benefit
- Hospitalization Benefit
Summary of My Child
- Maturity - Bonus
- After Maturity For 8 Years):
1st Year - Sum Assured × 4 × 10%
2nd Year - Sum Assured × 4 × 12%
3rd Year - Sum Assured × 4 × 14%
- Free life cover for 8 years after maturity up to age of 70 years equal to sum insured
- Death before maturity (Natural) - Sum Assured + LTR (If included) + Bonus
- Death due to an accident - Basic Sum Assured × 2 + Bonus + LTR (If included) + ADB
More information can be obtained from the nearest HNB Assurance Branch or from our Customer Relation Centre on 0114384384
* Conditions apply as per regulations.