A traditional child insurance plan protecting the childs financial future the features include: This plan is eligible to earn bonuses declared by the company There are two options of paying the premiums which are Regular Pay and Limited Pay When the plan matures, the value payable is 125% of Sum Assured + the accrued bonuses and any available Final Bonus If the insured dies, the Death Sum Assured which is higher of 10 or 7 times the yearly premium depending on the age of the insured or 125% of basic Sum Assured is paid to the nominee provided a minimum of 105% of premiums paid. Interim Bonus and any Final Bonus is also paid with the Death Sum Assured. The policyholder has a choice to take the death benefit either in lump sum or in instalments. In the latter case, 50% of the benefit is paid immediately on death and thereafter, 1% of the basic Sum Assured is paid monthly post death till the end of the term for a minimum of 36 months. Moreover, on maturity, 125% of the basic Sum Assured is again paid to the nominee Loans are available up to a maximum of 80% of Surrender Value Eligibility Details DHFL PramericaRaksha + Another traditional child insurance plan to take care of the childs future. The features and benefits of the plan are as follows: Premiums under the plan are required to be paid for a limited tenure only. Annual Guaranteed Additions accrue every year @30% which also increases by another 10% after every 3 years On maturity, the basic Sum Assured multiplied by the Guaranteed Maturity Factor is payable to the policyholder. The Guaranteed Maturity Factor varies with the plan tenure and is paid @150% if the plan term is 10 years, 175% if the term is 15 years and 200% if the term is 20 years In case of death of the insured during the tenure of the plan, the Death Sum Assured which is higher of 10 or 7 times the annual premium depending on the age of the insured or the basic Sum Assured multiplied by the Guaranteed Maturity Factor is paid to the nominee subject to a minimum amount of 105% of all premiums paid till the date of death. The accrued Guaranteed Additions are also paid along with the Death Sum Assured The policyholder has a choice to avail the death benefit in lump sum or in instalments. In the latter case, 100% of the basic Sum Assured is paid immediately on death and thereafter, 2% of the basic Sum Assured is paid monthly post death till the end of the term for a minimum of 36 months. Moreover, on maturity, the basic Sum Assured multiplied by the Guaranteed Maturity Factor is again paid to the nominee Loans can be availed under the plan up to a maximum of 80% of the Surrender Value Eligibility Details Applying for a Child Plan from the company: Online The company offers specific plans which are available online only. The customer only needs to log into the companys website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued Intermediaries Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process. Applying For Child Plans through PolicyBazaar On the PolicyBazaar homepage, click on Child Plans under the Personal tab. Click New Quotes to compare and choose from top insurance providers. Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue. Fill in your name, email address, city, country code, and mobile number. Click Continue. You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans. After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan. You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed. This will take you to the insurers website. Fill in the necessary details to buy the plan. Other Plans : DHFL Pramerica life Insurance DHFL Pramerica Investment Plans