This is an Endowment Assurance plan that provides financial protection
against death throughout the term of the plan. Besides payment of Sum
Assured immediately on death, one-fourth of Sum Assured is payable
at the end of each of last four years of policy term whether the life
assured dies or survives the term of the policy.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through
salary deductions as opted by you throughout the term of the policy
or till the earlier death.
Bonuses:
This is a with-profits plan and participates in the profits of the
Corporation’s life insurance business. It gets a share of profits
in the form of bonuses. Simple Reversionary Bonuses are declared
per thousand Sum Assured annually at the end of each financial year.
Once declared, they form part of the guaranteed benefits of the plan.
Bonuses for full term on the full Sum assured are paid at the end of
the term even if death occurs during policy term. Final (Additional)
Bonus may also be payable provided policy has run for certain minimum
period.
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