Sentences with phrase «endowment policies mean»

Not exact matches

This is in continuation to your reply at page «best - top - equity - mutual - fund - sips - in - india», i already have sufficient term insurance plan now, so my endowment policies are just meant for savings / wealth creation, i checked the information given by you above, but unable to decide: 1.)

Some companies may offer this plan as a rider to a term plan which means that the individual pays for the term cover as well the rider to be given the option to be able to convert the term policy later to an endowment or any other such plan.

Like other endowment plans, it is meant to give double benefit: death benefit to family in case of policy holder's demise, and maturity benefit to policy - holder in case of survival.

This means that before the end of the conversion period, you may trade the term policy for a whole life or endowment insurance policy, even if you are not in good health.

You're correct about the «paid up at age 98» business — that it doesn't necessarily mean the policy endows at 98 — but I think you're mistaken when you say «The endowment age could be much later.»

To resolve the dilemma, permanent insurance policies are typically structured as «endowment» policies that are meant to mature at the face value of the policy at an advanced age — e.g., age 100.

This is in continuation to your reply at page «best - top - equity - mutual - fund - sips - in - india», i already have sufficient term insurance plan now, so my endowment policies are just meant for savings / wealth creation, i checked the information given by you above, but unable to decide: 1.)

The new endowment plus plan is a unit linked plan, which means the investment part of the policy holder's premium is used for buying market linked products which are offered as units.

LIC Jeevan Labh (Table No 836) is a non-linked (Not dependent on share market) limited premium paying endowment assurance plan which means premium paying term is less than policy term for example, if policy term 16 has been selected then premium will be paid for 10 years only and maturity will be paid after completion of 16 years.

Returns on endowment policies are conservative but guaranteed and these are meant for risk - averse individuals — those who prefer a steady though moderate return rather than take high risks for high returns.