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A unit linked child insurance plan which protects the child’s future financially and also provides market linked returns for capital appreciation. The features and benefits of the plan are as follows: Premiums under the plan can be paid for the entire duration of the plan under the Regular Pay option or for a limited tenure of 5 years under the Limited Pay option of premium payment. The premium net of applicable charges can be either self-invested by the policyholder or invested under the Systematic Transfer Plan or Automatic Asset Allocation option. Under the Systematic Transfer Plan, the premium is initially invested in debt fund and then slowly redistributed to the equity fund. This transfer stops in the last 2 policy years when the funds are switched back from the equity fund to the debt fund to protect the fund from market volatility Under the Automatic Asset Allocation option, the net premium is initially invested in a ratio in equity and debt funds with a higher proportion in equity funds. With the passage of tenure, the funds are slowly allocated to debt fund by decreasing the equity exposure. The policyholder has an option of seven funds for investment if he invests the money himself. The funds are Balanced Fund II, Bond Fund II, Enhancer Fund II, Growth Fund II, Infrastructure Fund, Protector Fund II, and PSU Fund. Loyalty Additions accrue at the end of the 15th policy year and thereafter twice after every 5 years and are expressed as a percentage of the available fund value On maturity, the Fund Value is payable. On death of the insured during the tenure of the plan, higher of the basic Sum Assured including any top-up Sum Assured or 105% of all premiums paid till the date of death is paid immediately to the nominee. Moreover, all future premiums are waived off and the total of such premiums is credited to the Fund Value which grows for the remaining tenure. On maturity, the applicable fund value is paid to the nominee There is an inbuilt Accidental Death Benefit feature under which in case of accidental death of the insured, an additional Accidental Sum Assured is paid which is equal to the base Sum Assured subject to a maximum of Rs.50 lakhs 4 free partial withdrawals are allowed every year with a minimum amount of Rs.5000 12 free switches are allowed annually to change between funds and premium redirection facility is also available to redirect future premiums into another fund Eligibility Details Aviva Young Scholar Secure Plan A traditional child insurance plan to protect the childs future even in the absence of the parent. The features and benefits of the plan are as follows: Premiums under the plan are paid for a limited tenure only which depends on the age of the child The plan has four variants depending on the amount of premium paid and the benefits payable depend on the plan variant chosen. For instance, for a premium of Rs.25, 000 the applicable variant is Silver, for Rs.50, 000 it is Gold, for Rs.1 lakh is Diamond and for levels above this the variant is Platinum. Various payouts are paid under the plan to take care of the childs expenses A Guaranteed Annual Payout called the Tuition Fee Support depending on the premium variant is paid out every year after the completion of the premium paying tenure and till the child reaches 17 years of age. A lump sum amount is given as College Admission Fund when the child reaches 18 years of age Another lump sum amount called the Higher Education Reserve is paid when the child attains 21 years of age While the Tuition Fee Support Fee and the College Admission Fund is a fixed amount depending on the premium amount and variant, the Higher Education Reserve is calculated as the maturity Sum Assured net of the Tuition Support Fee and the College Admission Fund already paid. In case of death of the insured during the tenure, the death Sum Assured will be paid which will be higher of 10 times the annual premium or maturity Sum Assured or 105% of all premiums paid till the date of death. Furthermore, the above mentioned benefits will accrue as and when they fall due. Aviva Term Plus Rider can be availed for a more enhanced protection