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Investment Plans 1286 views December 11, 2020
Are you worried about how you will finance your child’s education with a continuous rise in the cost of Education? Well, stop worrying about it! With Aviva Young Scholar Secure Plan, you can chalk out a secured education plan for your child. This investment plan from Aviva Life is a savings-oriented Insurance plan that will make sure your child completes his or her education even when you are not around. With two Lump Sum amounts at important milestones for College Education and Higher Education, you can be free of any worries regarding any educational expenses.
Here, we are going to discuss some important information related to the Aviva Young Scholar Secure Plan, such as its key attractions, benefits, eligibility, etc. Want to know the same? Keep reading!
Table of Contents
With this Savings Oriented Insurance Plan from Aviva Life, you can make the most of its unique features to meet the annual expenses as your child grows. We are showing some of those features below so that you can understand better about this investment plan. Have a look!
What are those benefits that you can enjoy with the Aviva Young Scholar Secure Plan? Well, we are discussing some of the benefits below. Please have a look!
If something unfortunate like a death happens to the policyholder, this plan will provide the following benefits. However, there’s one condition that you should have paid all the premiums for your policy until the date of death.
Death Sum Assured which will be equal to the highest of the following amounts
There is an important thing that you need to remember that any amount of TFS or CAF already paid will not be deducted from the Death Sum Assured amount. Apart from this, there will be no halt on the future installments of TFS, CAF and HER. Your child will receive all of them on scheduled dates.
With this Insurance Plan from Aviva Life, policyholders will receive survival and maturity benefits according to the plan option chosen at the inception of the policy and the premium amount. The survival benefits include Tuition Fee Support (TFS) and College Admission Fee (CAF). TFS ranges from INR 15,000 to INR 4,00,000, while CAF ranges from INR 40,000 to INR 30,00,000.
Policyholders will receive a lump sum amount in the form of Higher Education Reserve (HER) at maturity. This amount will be the maturity sum assured minus the sum of all the TFS and CAF already paid to you.
There are a few parameters related to the Aviva Young Scholar Secure Plan that you should know. You can check such parameters below.