SECTION 2 - INSURANCE COVER APPLICABLE TO CHILDREN

Basic Cover

• Cover is applicable to two children in the age group of 0 to 18 years whose parents’ age does not exceed 60 years.
• Cover is to provide relief to insured children in the case of death of either/both of the parents arising out of accident.
• In the event of death of the parent(s) Rs.25 0 will be deposited in the name of the child with the GIC Asset Management Co. Ltd. and the benefits will be provided as under -

Benefits Provided

In the event of the death of the children before attaining 18 years the balance amount standing to the credit of the children will be paid to the surviving parent/guardian.

Premium

Rs.15/- per child per annum.(coverage limited to two children only and the premium would be Rs.30/- per annum.)

Discount

Varies from 5 to 30% depending upon the group size.

Unique Features

• Relief to the children in the event of death of any of the parents
• Relief to orphaned children for maintenance and education

Lump-sum payment on attaining the age of 18 completed years

Hence the total premium for a comprehensive policy would as follows:

i.  Rs.32/- for comprehensive cover to the women inclusive of husband
ii. Rs.30/- for two children

Totaling Rs.62/- only for the entire family cover.

The insured can either opt -

A full family cover for Rs.62/- or

Section I - only for Rs.32/-or

Section II - only for Rs.30/- as per their need.

In case the premium is routed through a single source the applicable discount would be the highest and the premium at the lowest.