LIC's Endowment Life Insurance policy not only makes provisions for the family of the life assured in the event of his early death but also assures a lump sum at a desired age. The lump sum can be reinvested to provide an annuity during the remainder of his life or in any other way considered suitable at that time. Premiums are payable for the selected term of years or until death if it occurs during the term period.

Special Features

Disability Benefit:
In case the individual becomes totally and permanently disabled due to an accident before
attaining age 70 when the policy is in force, he will not have to pay further premiums, (the
Disability Benefit is available in respect of the first Rs.20,000 sum assured on any one life) and your policy will continue to be in force.
Accident Benefit:
By paying a small extra premium of Rs.1 per Rs.1000/- sum assured per year the individual or
his family is entitled to the following benefits on death or permanent disability caused by
accident. Students above 18 yeas of age can also avail of this benefit.
Premium Stoppage:
If the policyholder is unable to continue payment of premium at any time, after having paid at
least three years' premiums he will not lose the money he has already contributed and the
policy is converted automatically into a paid-up one of a reduced sum assured, provided the
reduced sum assured exclusive of any allotted bonuses is not less than Rs.250/- under a policy for an original sum assured of Rs.1000/- or over. The sum assured under the paid up policy is payable on the expiry of the endowment term or on earlier death.
Bonus:
Is there anything extra payable besides the sum assured at the time of claim settlement? Yes, but only if it is a 'with profits' policy. Every year the Life Insurance Corporation distributes its profits among policyholders having 'with profits' polices in the form of bonuses. Substantial bonuses have been declared in the past after each valuation of policy liabilities.

Benefits

Survival Benefits:
Payment of full Sum Assured plus bonus plus final additional bonus.
Death Benefits:
Payment of full Sum Assured plus accrued bonus.
Suitable for:
Being an endowment assurance policy, this plan is apt for people of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise. The amount assured if not paid by reason of his death earlier will payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholder's life or in any other way he may think most suitable at that time.

FAQ's on Life Insurance here

Go For insuranceindiamart Car Insurance

Free Insurance Advice

If you have any specific query related to Health Insurance, Life Insurance, Car Insurance, Travel Insurance, Mutual Funds, IPO's and Fixed Deposits etc... just ask our experts, Insurance Agents, Financial Advisors and consultants Here

Contact us at :

InsuranceIndiaMart
Head Office: 311/90, Mansarover, Nehru Place, New Delhi – 110019, India
Branch: 301, Sector 28 Faridabad, Haryana-121008

Mobile:+91-9810106909, +91- 9810150489
E-mail : contact@insuranceindiamart.com, info@insuranceindiamart.com

Disclaimer | Privacy Policy | Advertise with us | Why Buy from Us