This is a fixed
term endowment policy. The premiums have to be paid till
maturity or death of the policy holder whichever is earlier.
the sum assured plus bonus is paid on maturity to policy
holder or on earlier death of the policy holder to nominee.
One of the distinct features of this policy is that after
payment of 2 years premiums from commencement of the policy
and if the policy holder is not able to pay the premium any
time after that, the life risk under the policy continues for
3 years from the first due date of unpaid premium. One more
important feature is that the age proof is not insisted if the
sum assured is less or equal to Rs. 25,000 and age extra is
not charged for self declaration under this policy provide
Term is 20 years and age is less than or equal to 40.
Benefits:
This policy is highly advisable for people with irregular
income like Farmers, Milk Vendors and Petty Businessmen and
also for Industrial Workers whose job is not secured. For
these type of people submitting age proof is also a problem as
majority of them would not have had the age proof. By taking
this policy they would be fulfilling their short term and long
term financial needs. the family is assured financial security
in case the policy holder dies even during the lapsed period
of the policy.
Income Tax Benefit
Available upto 20% of Premium Paid
