PehlaQadam
Child Education Plan
The only thing constant in life is change. Planning for changes requires careful allocation of funds for an unpredictable tomorrow, incase life catches you by surprise.
JS Bank brings to you PehlaQadam - Child Education Plan, exclusively designed to help shape your child’s future. The plan, underwritten by EFU Life Assurance Ltd., is a complete financial planning package designed for you to save for your children’s future educational needs. The plan provides high valued savings coupled with a guaranteed level of life protection. PehlaQadam is flexible enough to be customized according to your specific needs.
FEATURES OF PEHLAQADAM
Savings and investments at the same time
- Every contribution in PehlaQadam is invested in an internal investment fund of EFU Life called the “EFU Managed Growth Fund”.
- The fund is managed by investment experts who adjust the mix of the underlying investments in light of economic conditions and investment opportunities.
Guaranteed Protection
- The plan provides a guarantee of a minimum amount which will be payable at maturity of the policy.
- The guaranteed amount payable at maturity is equal to the sum assured of the plan or the fund value at the time of maturity (whichever is higher).
- These substantial funds can be utilized for the educational needs of the nominated child.
Access to savings at all times
- The plan provides complete access to the accumulated fund value at all times.
- After the contributions have been made for two full years, the fund can be withdrawn for its full or partial value.
- In case the customer opts for complete surrender, all units in the fund will be en-cashed at the current bid price and the plan will be cancelled.
Minimum Premium
The minimum annual premium required for PehlaQadam is Rs. 24,000.
Applicable Ages and Terms
PehlaQadam is available to individuals of 18 years to 60 years of age. The applicable savings terms are from 10 – 25 years.
Additional benefits
For increased security you can customize your policy with the following additional benefits to better suit your needs.
- Continuation Benefit
- Income Benefit
- Waiver of Premium
Unit Allocation
Following table depicts the percentage of premium that gets allocated for investment in EFU Managed Growth Fund each year.
| Policy Year |
Allocation Percentage |
Year 1
|
25% - 35%* |
| Year 2 |
80% |
Year 3
|
90% |
| Year 4 to 10 |
100% |
| Year 11 onwards |
105 %* |
* Depending on policy term
Note: A personalized illustration will be provided for facilitating a decision.
Performance of EFU Managed Growth Fund
The following graph depicts the historic performance of EFU Managed Growth Fund during the last 10 years.
Disclaimers
|
