Limited Endowment Plan

Limited Endowment Plan


A life insurance policy where the death benefit remains constant up to the policy term but the policyholder may stop making premium payments after a certain period of time. Premiums on limited payment policies are likely to be higher than those on other life insurance policies and makes provision for the Nominee of the Assured Life in the event of early death.


FEATURES:

Plan Name: Limited Endowment Assurance Plan
Minimum Sum Assured: 50,000/-
Maximum Sum Assured: According to the income of Life Assurance
Entry Age: 11 Years to 60 Years
Maximum maturity age: 70 years.
Term: 10,15,20,25 and 30 Years

Policy Term (Years)

Premium Paying Term (Years)
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


Mode of paying method: Monthly, Quarterly, half Yearly, Yearly and Single.
Medical Requirement: As per Company Rule
Age Calculation Method: Age Nearer Birthday
Accidental Benefit: ADB/PWB/PTD Available up to Max. 75,00,000/-
Loan Facility: In Single premium term Loan facility should be provide in 31  days after policy issued to policy holder and for others  2 year complete premium paid should be require for taking loan.


OTHER FACILITIES:

Surrender value, Paid up Value as per policy.


BENEFITS:

1. Survival Benefit : Sum Assured + Accrued Bonus
2. Death Benefits: Within Term Period - Sum Assured + Accrued Bonus up to Term Period during Death.
3. Accidental Death benefits: Sum Assured + Additional Sum Assured up to Max. 75 lacs or Actual sum assured whichever is lower. + Accrued bonus up to Term Period during Death.
4. PTD/ PWB Benefits : Waiver of Premium during the term period of  policy after total permanent disability occurs  and monthly income benefits (MIB) provide to policy holder of Sum Assured  upto 120 months instalment basis and in case of remaining term to maturity be less than 120 months the balancing instalment will be payable in lump sum on maturity or at death, if earlier.