This is fixed term
Endowment Policy. In case the policy holder gets any of the
four following health problems (a) Cancer (malignant) (b)
Paralytic stroke leading to permanent disability (c) Failure
of both kidneys (d) heart disease leading to bye pass surgery,
50% of sum assured is payable immediately. Further premiums
are waived and 10% of sum assured is paid every year after
that. On maturity or on earlier death 50% of the sum assured
plus bonus till maturity or death which ever earlier will be
paid. This health benefit is available only after one year of
taking policy.
In case the policy
holder do not get any of the above health problems the
benefits and features are like Endowment Policy. So this
policy is a combination of Endowment Policy and Health
Insurance.
Income Tax Benefit
Available upto 20% of Premium Paid
