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Life Insurance Corporation |
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CDA Endowment Vesting At 21
Features
Product Summary
This is an Endowment Assurance plan designed to enable a parent or a legal guardian or any near relative of the child (called proposer) to provide insurance cover on the life of the child (called life assured). The plan has two stages, one covering the period from the date of commencement of policy to the Deferred Date (called deferment period) and the other covering the period from the Deferred Date to the date of maturity. The insurance cover on the child´ life starts from the Deferred Date and is available during the latter period.
Bonuses:
This is a with-profits plan and participates in the profits of the Corporation´s life insurance business after the deferred date. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan.
Benefits
Death Benefit:
The Sum Assured along with vested bonuses is payable in a lump sum upon the death of the life assured after the deferrement period. If death occurs before the deferrement period all premiums paid is refunded.
Maturity Benefit:
Sum assured along with all bonuses declared up to maturity date is payable in lump sum.
CDA Endowment Vesting At 18
Features
Product Summary
This is an Endowment Assurance plan designed to enable a parent or a legal guardian or any near relative of the child (called proposer) to provide insurance cover on the life of the child (called life assured). The plan has two stages, one covering the period from the date of commencement of policy to the Deferred Date (called deferment period) and the other covering the period from the Deferred Date to the date of maturity. The insurance cover on the child´s life starts from the Deferred Date and is available during the latter period.
Benefits
Death Benefit:
The Sum Assured along with vested bonuses is payable in a lump sum upon the death of the life assured after the deferrement period. If death occurs before the deferrement period all premiums paid is refunded.
Maturity Benefit:
Sum assured along with all bonuses declared up to maturity date is payable in lump sum.
Jeevan Kishore
Features
Product Summary
This is an Endowment Assurance Plan available for children of less than 12 years of age. The policy may be purchased by any of the parent / grand parent.
Bonuses:
This is a with-profits plan and participates in the profits of the Corporation´s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.
Benefits
Death Benefit:
The Sum Assured along with vested bonuses, if any, is payable in a lump sum upon the death of the life assured after the commencement of the risk. If death occurs before the commencement of the risk, the premiums paid excluding the premiums for the Premium Waiver Benefit, if any, will be refunded.
Premium Waiver Benefit:
This is an optional benefit that can be added to your basic plan. An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period. The deferment period for this purpose is to be taken as 18 minus age at entry of child.
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