Hi friends, today in this article we are going to tell you about the best smart junior plan offered by Canara Bank. Because this plan brings good benefits, these plans depend on your child’s future, so let’s know through this article the complete details of this plan as well as the eligibility requirements as well as the rate of interest after completion of the maturity period.
This is the plan of Canara HSBC Life Insurance Smart Junior Plan is an individual and non-linked par life insurance savings cum protection plan designed to meet your child’s future educational needs whether you are near your family or not. When will we know about vevadi of this plan? The Smart Junior Plan offers you guaranteed payouts over the last 5 years of the policy, which can be seamlessly aligned to your child’s educational milestones. Further, you will be paid annual bonuses on maturity of the plan and final bonuses, if any.
Likewise this plan offers you comprehensive protection – in case of your unfortunate death of the life assured – the entire amount is paid to your family members immediately and the remaining outstanding premiums, if any, have to be borne by you. Likewise the policy will continue to be in force and the policy benefits will be paid to you as per schedule. Whatever your child’s future needs that is Comprehensive protection accompanies you. Similarly for children’s education you are given a one-time guarantee of this plan Canara Bank offers you limited premium payment and flexible policy term options to choose from. Likewise Regular and Annual Bonuses on Maturity 2 and Final Bonus if any add up to give you a higher sum assured 3 Discount Tax benefits accrue to you without having to pay any tax on premiums paid and benefits received.
Now let’s know about the entry age 18 years is enough for you to avail this plan and the maximum age is 50 years similarly if you are paying in monthly installments you must be at least 40 years old and above that you are not eligible for this plan. Similarly the maximum maturity age has been fixed as 70 years. Survival and Maturity Benefit Survival Benefit You will receive the Guaranteed Annual payouts at the end of each of the last 4 policy years before the maturity year provided that all due premiums are paid. You can utilize these guaranteed payouts to fund the future education needs of your child. The amount of annual payouts will be designed as policy terms.
On your survival till maturity, you will get 20% sum assured on maturity, year bonuses and final bonus if any through this plan. These plans are given to you because in case of your sudden death, your family members can benefit from your insurance and there is no need to think about your children’s future and by choosing this plan, whether you are there or not, your children will meet their educational and career needs without any difficulty.
This good plan provided by Canara Bank is useful. So I am going to tell you about many more good plans in upcoming articles. Please visit my website often and I will explain more new plans in detail. Your help has come so far and each and every one of you has helped me by visiting my website frequently. Also I sincerely wish you to continue this support till the end. Because I’ll give you more content that you’ll love, Thank you.