LIMITED PREMIUM PAYMENT ENDOWMENT PLAN

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Life Insurance

LIMITED PREMIUM PAYMENT ENDOWMENT PLAN
(WITH PROFIT)

'LIMITED PREMIUM PAYMENT ENDOWMENT PLAN' is a modified version of Endowment Assurance plan with regard to payment of premium. It provides family protection as well as old age provision at an affordable premium. This policy is suitable for all categories of people.

Salient Features

Sum assured is payable either on survival till the end of the term or on death happening within the term.
This plan is available for 15 , 20 and 25 years.
Payment of premiums are limited to shorter terms.
Both With-Profit and Without-Profit plans are available.
Bonus for the full term is payable on the date of maturity or in the event of death, whichever is earlier.
Premiums cease on death or on expiry of term whichever is earlier.

Premium Paying Terms:

S.No

Policy term (in yrs)

Premium paying term (in yrs)

1

15

5, 10

2

20

5,10,15

3

25

5,10,15,20

Benefits

On Death or Survival:
- Basic Sum Assured and Bonus under With Profit Plan
- Basic Sum Assured under Without Profit Plan.

Restrictions

Minimum Sum Assured :
- Rs.10,000/- for with profit plan
- Rs.10,000/- for with profit plan
- Rs.50,000/- for single premium plan
Minimum premium must be Rs.800/- per annum.
Minimum age at entry : 12 years
Maximum age at entry
- 15 years term - 55 years
- 20 years term - 50 years
- 25 years term - 45 years