• Lump sum payment of Sum Assured plus company contributes
future premiums in the unfortunate event of death of Parent
( life assured ).
• Development Allowance: Under this benefit, a specified amount
is paid to the child every year, in the unfortunate event of death of
• Facility to provide money for key educational expense of the child.
• Protection against Accident and Disability: Additional protection
against accident and disability is provided with the help of a rider at
a marginal extra cos
Additional Features and Benefits Common to All 3 Plans
ICICI Prudential's SmartKid is a fixed-term insurance plan that provides you with funds at regular intervals. The plan also keeps your family financially secure should an untoward event ever occur. Read more about the features and benefits of SmartKid.
Regular payouts: As your child approaches key educational milestones such as 12th standard or graduation exams, he or she will receive regular payouts, guaranteeing he or she continues to study, no matter what the circumstance.
Death Benefit: Your child will receive the Sum Assured immediately, should something happen to you. ICICI Prudential will pay the remaining premiums, ensuring your child continues to receive policy benefits, as always.
Income Benefit Rider: You can choose to add the benefits of this rider to your child's education plan. Should you depart before your son's or daughter's education is complete, you child will receive 10% of Rider Sum Assured, for the balance term of the policy.
Add-on riders: 'Accidental Death and Disability Rider' and 'Waiver of Premium Rider' ensure your child stays doubly protected, at all times. You can choose to add these to your child's education policy.
Tax benefits: Premiums you pay for a SmartKid policy are eligible for tax savings [u/s 80(C)]. Maturity and death benefits are eligible for tax exemptions [u/s 10(10D)].