Looking to secure yourself through having a plan to fund a future business venture, purchasing a dream home or providing financial security for your family in the event of an untimely death?
What is Endowment With Profits Plan?
The Endowment with profits plan is a life insurance plan that works both as an insurance cover as well as a long term savings scheme to help individuals protect their loved ones financially and create goal-based savings for the future. A lump sum amount on the policy is payable upon maturity or the sum assured paid out to beneficiaries upon the sudden death of the policy holder.
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Who is the Policy For?
The policy is suitable for young professionals with a regular income stream who want to cater for their long-term goals, want to protect the financial future of their loved ones or are looking for a lump sum retirement benefit
If the policy has been paid up to 36 months, it remains active for as long as the policy value is more than the premium due. If the policy has not been paid for at least 36 months, policy benefits will be suspended but you have the option to reinstate the policy once you are back in employment/ have a source of income, at any time during the tenure of the policy.
The policy pays the full sum assured plus accrued bonuses upon death of the life assured to the dependants therefore they do not need to continue with premium payment.
Yes, within the first 3 years of the policy