Limited Payment Endowment Cum Whole Life Plan covers the features of both limited payment and whole life. It is a participating life product. In this policy, policyholders may pay premium for the limited of time and will cover risk for the whole life. The policyholder may choose the various premium paying term based on policy term. Premium paying term will be lesser than the policy term.
-Minimum Sum Assured : 50,000/-
-Maximum Sum Assured : No limit ( As per Income Source)
-Entry Age : 18 to 65 Years
-Policy Term : 5 to 30 Years
-Maximum Maturity Age : 70 Years
-Rider Benefits : ADB ,MIB,PWB
|
Policy Term ( Years)
|
Premium Paying Term (Years) |
| 5 |
1 ( Single) |
| 10 |
1,5 |
| 15 |
1,5,10 |
| 20 |
1,5,10,15 |
| 25 |
1,5,10,15,20 |
| 30 |
1,5,10,15,20, 25 |
- Rebate on large sum assured
| Sum Assured |
Rebate |
| 1,00,001 to 2,00,000 |
Rs. 1/- |
| 2,00,001 onwards |
Rs. 2/- |
- Rebate on Premium Paying Terms
| Mode of Payment |
Rebate |
| Yearly |
2% |
| Half Yearly |
1% |
| Quarterly |
NIL |
| Monthly |
Additional 5%
|
-
Survival Benefit :
Sum Assured and Vested Bonus up to Maturity Period
Survival to Maturity Date (Age 100 Years):
Sum Assured Only
Death Benefit within Policy Term Period :
Sum Assured and Vested Bonus
Death Benefit after Policy Maturity :
Sum Assured Only
Other facilities:
-Surrender Value
-Policy holder Loan
-Tax benefit As per ITA,058
Death Benefit due to Accident :
Additional amount equal to Sum Assured or Rs. 1,00,00,000/- whichever is lower
Rider Benefits ADB Covers upto Age 70 Years
TPD Benefit due to Accident :
Sum Assured is payable in 120 monthly installment, Balancing installment shall be
payable in lump sum on maturity or at death.
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