What is Life Insurance Endowment Policy Here Definition and Types. This policy will acquire a surrender value after it has been inforce for at least two consecutive years provided no premiums are in default. The surrender value will be quoted by State Life on request of the policyholder.
What is Life Insurance Endowment Policy Here Definition and Types
Minimum Age: 10 years
Maximum Age: 65 years
Age (Maximum) on Maturity: Age 75 years.
Allowable Riders: Click here for supplementary covers which can be attached with this plan.
It’s a safest and surest method of guaranteed cash provision either at a specified time or at death (Allah forbid). Under these policies, the sum insured plus bonuses are payable at the end of the specified number of years or at death of the life insured if earlier. Premiums are payable for the specified number of years or till death, if earlier. The benefits under the plan can be further increased by attaching supplementary covers.
The plan serves the requirements of a family in various shapes by way of financial help at retirement, education of children or provision of capital for business. Click here for calculation of premium on your life under this plan.