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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 Policy Factor Term of Policy Factor Term of Policy Factor
5 4.62990 12 9.76048 19 13.65930
6 5.45182 13 10.38507 20 14.133494
7 6.24214 14 10.98565 21 14.59033
8 7.00205 15 11.56312 22 15.02916
9 7.73274 16 12.11839 23 15.45112
10 8.43533 17 12.65230 24 15.85864
11 9.11090 18 13.16567 25 16.24696

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