AEGON Religare has launched a child endowment plan, that offers pre-fixed pay-outs during the last four policy years. It is aimed at parents intending to build a kitty to fund their children's higher education

Key Features 

The product offers two options for the life assured (parent) to choose from with respect to death benefits. Under the first option: The sum assured and accrued bonus then will be handed over to the dependent (child), with guaranteed pay-outs flowing in during the last four years. 



The second option, in addition to the benefits offered under option 1, undertakes to provide 10% of the sum assured to the nominee, every year, till the end of the premium payment term. 

Rider benefits 

The product comes with an in-built waiver-of-premium benefit. This apart, the policyholder can opt for accidental death, disability, dismemberment (ADDD) rider benefit too. 

Upside 

The plan may interest parents who are convinced about the insurance-cum-investment concept and seek comfort in the secure-returns promise. 

Downside 

The key area of concern in endowment plans is their opaque charge structure. Also, since these traditional products do not invest in equities as such, their return-generating ability is limited.

Source: economic times

Details of AEGON Religare Child Endowment plan – Life Educare Plan
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