4 Steps of Planning your Child´s Education

Step - 1:
Decide the corpus you wish to provide for your child’s future and the time when the same should be made available. The answer to these questions will influence the choice of premium you decide to pay and the policy term.

Step - 2:
Choose the level of protection you desire. This should be reflected in:

  • The level of sum assured you choose; and
  • The riders you opt for with the base plan. The riders available to you under Aviva New Young Scholar plan are:
  • Comprehensive Health Benefit (CHB) rider – provides complete protection against critical illness and disability, by paying benefits otherwise payable on death.
  • Income Benefit (IB) rider – pays income to your child in case of your death.
  • Accident Death Benefit (ADB) rider – pays additional money in case of your accidental death.

Step - 3 :
Choose the amount of premium you wish to pay, which will be determined by Step 1 & 2. Also, choose the Premium Payment Term and Premium Payment Frequency based on your convenience.

Step - 4 :
Choose the funds you wish to invest in. The funds available to you for investment under Aviva New Young Scholar are Protector Fund, Bond Fund, Balanced Fund, Growth Fund and Enhancer Fund. You also have the option of choosing Automatic Asset Allocation (AAA) Plan and Systematic Transfer Plan (STP).

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