Endowment Insurance is most familiar & popular life insurance plan in the country. This plan encourages force savings to fulfill your dream. It ensures safe investment, provides financial security, and brings mental peace.
- This plan assures the policyholder to receive the desired amount with accrued bonuses at the maturity of the policy or to the nominees for immature death of policyholder
- Policy term may be for 10 years, 15 years, 20 years.
- Policy holder may surrender the policy at least after the full payment of two consecutive year’s premium and will receive surrender value quoted at the time of surrender.
- Policy holder may obtain a loan (maximum 90% of surrender value) against the policy by mortgaging it.
- Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered
- Income tax rebate may be obtained by taking the policy.
- The claim amount is also tax free
- Survival Benefit: The policy owner will receive full sum assured along with accrued bonuses on maturity at the end of the term.
- Death Benefit: The nominee of the policyholder will receive full sum assured along with bonuses accrued on death of the policyholder within the term of the policy together with bonuses accrued up to the date of his/her death.