Whole Life Assurance
For People who wish to provide huge sums at comparatively low contribution as premium for their dependants can take this policy. Under this plan, an individual gets coverage for the whole of his life i.e the term is the whole life from inception of the policy.
Main Features
- Sum assured is payable only on the death of the life assured
- Premiums have to be paid till age 70 years
- Premiums cease on death of the life assured
Benefits On Death
- Sum assured + vested bonuses are payable to nominees/beneficiaries on death of life assured only.
Other Conditions
- Minimum age at entry : 18 years
Maximum age at entry : 60 years
Mode of Payment of Premium
- Single Premium
- Annual Premium