Features of Plan: This policy not only makes
provisions for the family of the life assured in the
event of his early death but also assures a lump sum
at a desired age. The lump sum can be reinvested to
provide an annuity during the remainder of his life
or in any other way considered suitable at that time.
Premiums are usually payable for the selected term of
years or until death if it occurs during the term period.
The specialty of this plan is that it has moderate premiums,
high bonus, high liquidity & savings oriented.
Being an endowment assurance policy, this plan is suitable
for the people of all ages and social groups who wish
to protect their families from a financial setback that
may occur owing to their demise. If the amount assured
is not paid by reason of his death earlier, will be
payable at the end of the endowment term where it can
be invested in an annuity provision for the rest of
the policyholder's life or in any way he may think most
suitable at that time.
Age at entry: Min. 12 yrs, Max. 65 yrs
Maturity age: Max. 75 yrs.
Sum assured: Min. 50,000 Max. No Limit
S.A. in multiples: 5000
Term: Min. 5 yrs, Max. 55 yrs
Mode of payment: YLY/HLY/QLY/SSS/MLY
Accident benefit: Re. 1 extra pre
(Max. 50 lacs inclusive 1000 S.A.
Policy loan: yes
Housing loan: yes
Surrender of policy: yes
Form no.: 300/340
Age proof: Std./NSAP-1,2,3
Female lives category: I / II /III
Non-Medical (Gen): Allowed
Non-Medical (pro): Allowed
Non-Medical (special): Allowed
Actual Sum Assured: Basic S.A.
Risk Coverage: S.A. +Bonus
Dating Back @ 8%: Allowed
Payment of full S.A. + vested bonus + final addition
al bonus, if any.
Payment of full S.A. + vested bonus. Final additional
bonus is also given. If premium paid is for 17 yrs or
Accident benefits: payment of small extra premium
of Re. 1 per Rs.1000/- S.A. per year he or his family
are entitled to the following benefits on death or permanent
disability caused by accident. Even students above the
age of 18 years can avail of this benefit.
Example: Mr. Aamir Khan aged 35 invests in an endowment
assurance policy (with profits) for a term of 21 years,
opting a basic S.A. of 1 Lac. When his policy matures,
he will receive a total amount of Rs.2,21,000/- [basic
S. A. of Rs.1 Lac + bonus for 21 yrs. ( 50x 21x 100=
1,05,000 bonus as per Rates of 2005) terminal bonus
(160x 100=16000) FAB as per 2005 Lic].
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