Get Adobe Flash player

Child Protection Assurance Plan - With Profit

Type of Plan

It is an endowment Plan with additional Benefit of annuity in case of Policyholder's death during Policy Term.

Term of the Plan

Minimum 10 Years

Age of the Policyholder (Payor)

At Commencement of Policy, Minimum 20 Years and Maximum 55 Years.

Maximum Age at Maturity

70 (Seventy) Years

Age of the Assured Child at Commencement of Policy

Minimum 6 (Six) months and Maximum 15 (fifteen) Years.

Maximum Age of the Assured Child at Maturity

30 (Thirty) Years

Mode of Payment

Any of Quarterly, Half Yearly and Yearly

Benefit of Plan

1.

If the Policyholder (Payor) dies at any time, during policy term, no premium shall have to be paid for rest of the period of policy term.

2.

The Assured child shall get monthly 1% of sum assured for the rest of the Policy term as stipend.

3.

At maturity the assured child shall get money deposited in mudaraba fund along with profit (If any).

4.

If the child dies before maturity, the policyholder (payor) shall get the benefit as per the following schedule:

Completion of period of policy at the time of child’s death
Benefit Payable
Not more than 6(six) months
25% of Sum Assured
More than 6(six) months, but not more that 12 (twelve) months
50% of Sum Assured
More than 12 (twelve) months, but not more than 24 (Twenty four) months
75% of Sum Assured
More than 24 (Twenty four) months.
100% of Sum Assured


5.

If both the payor and assured child survives at maturity, the money deposited in Mudaraba fund shall be refunded with profit.

6.

After the death of the Payor, if the assured child dies at any time during stipend period, the stipend shall be stopped immediately, but the guardian of the nominee shall get full sum assured with profit after completion of policy term.

Calculation of Sum at Risk

1.

A = 12% of Sum Assured

2.

P = = Yearly Premium

3.

Factor = As per the table stated below :

Term of PolicyFactorTerm of PolicyFactorTerm of PolicyFactor
54.62990129.760481913.65930
65.451821310.385072014.133494
76.242141410.985652114.59033
87.002051511.563122215.02916
97.732741612.118392315.45112
108.435331712.652302415.85864
119.110901813.165672516.24696


Rate Chart

Premium Rate Per 1,000/- Sum Assured

Age

Term

10

11

12

13

14

15

16

17

18

19

20

20

116.40

106.10

97.60

90.40

84.30

79.00

74.40

70.40

66.80

63.70

60.80

21

116.40

106.10

97.60

90.40

84.30

79.00

74.40

70.40

66.80

63.70

60.90

22

116.40

106.10

97.60

90.40

84.30

79.00

74.40

70.40

66.90

63.70

60.90

23

116.50

106.20

97.60

90.40

84.30

79.00

74.50

70.40

66.90

63.80

61.00

24

116.50

106.20

97.60

90.50

84.30

79.10

74.50

70.50

66.90

63.80

61.00

25

116.50

106.20

97.70

90.50

84.40

79.10

74.50

70.50

67.00

63.90

61.10

26

116.50

106.20

97.70

90.50

84.40

79.10

74.60

70.60

67.10

64.00

61.20

27

116.50

106.20

97.70

90.60

84.50

79.20

74.70

70.70

67.20

64.10

61.40

28

116.60

106.30

97.80

90.60

84.50

79.30

74.70

70.80

67.30

64.20

61.50

29

116.60

106.30

97.80

90.70

84.60

79.40

74.90

70.90

67.50

64.40

61.70

30

116.70

106.40

97.90

90.80

84.70

79.50

75.00

71.00

67.70

64.60

62.00

31

116.70

106.50

98.00

90.90

84.90

79.70

75.20

71.30

67.90

64.90

62.30

32

116.80

106.60

98.10

91.00

85.00

79.90

75.40

71.50

68.20

65.20

62.60

33

116.90

106.70

98.30

91.20

85.20

80.10

75.70

71.90

68.50

65.60

63.00

34

117.10

106.90

98.50

91.50

85.50

80.40

76.00

72.20

68.90

66.00

63.60

35

117.30

107.10

98.70

91.70

85.80

80.80

76.40

72.70

69.40

66.60

64.20

36

117.50

107.40

99.00

92.00

86.20

81.20

76.90

73.20

70.00

67.20

64.80

37

117.80

107.70

99.40

92.50

86.60

81.70

77.40

73.80

70.70

68.00

65.60

38

118.10

108.10

99.80

93.00

87.20

82.30

78.00

74.50

71.40

68.80

66.50

39

118.50

108.50

100.40

93.50

87.80

82.90

78.80

75.30

72.30

69.70

67.50

40

119.00

109.10

100.90

94.20

88.50

83.70

79.70

76.20

73.30

70.80

68.70

41

119.60

109.70

101.60

94.90

89.30

84.60

80.60

77.20

74.40

72.00

70.00

42

120.20

110.40

102.40

95.70

90.20

85.60

81.70

78.40

75.70

73.40

71.40

43

120.90

111.20

103.20

96.70

91.30

86.70

82.90

79.70

77.00

74.90

73.00

44

121.80

112.10

104.20

97.80

92.40

88.00

84.30

81.20

78.60

76.60

74.90

45

122.70

113.10

105.30

99.00

93.70

89.40

85.80

82.80

80.40

78.40

76.90

46

123.70

114.20

106.60

100.30

95.20

90.90

87.40

84.60

82.30

80.50

79.00

47

124.80

115.50

107.90

101.80

96.70

92.60

89.30

86.60

84.40

82.80

81.50

48

126.10

116.80

109.40

103.40

98.50

94.50

91.30

88.70

86.80

85.30

84.20

49

127.50

118.30

111.00

105.10

100.40

96.60

93.50

91.10

89.30

88.00

87.20

50

129.00

120.00

112.80

107.10

102.50

98.90

96.00

93.80

92.20

91.00

90.40

51

130.70

121.80

114.80

109.20

104.80

101.30

98.70

96.70

95.30

94.40

52

132.50

123.80

117.00

111.60

107.40

104.10

101.60

99.90

98.70

53

134.50

126.00

119.40

114.20

110.20

107.10

104.90

103.40

54

136.70

128.40

122.00

117.00

113.30

110.50

108.50

55

139.10

131.00

124.90

120.20

116.70

114.10