Endowment
Life Assurance
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Brochure
Life Assurance
Endowment
This is an endowment product which provides death and maturity benefits to the policyholder. On survival of the policy holder to maturity, the maturity benefit payable will be the full sum assured. The full sum assured will also be payable to the beneficiaries of the policy holder on death of the policyholder within the term of the product. The premium frequency can be either of yearly, half-yearly, quarterly or monthly.
This policy can be a without-profit or with-profit, which means with profit policies are entitled to a share of the profits of the Company while the without-profit policies are not entitled.
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On completion of the tenure of the policy, if the policyholder survives she/he receives a maturity benefit.
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The policyholder can take out a loan up to 90% of cash surrender value.
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For any premium not paid by the end of the grace period the policy automatically pays by a policy loan if there is sufficient cash value.
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Ten-year Endowment rescue customers who have been paying premiums for at least two years can terminate their contracts and receive a refund.
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