Sentences with phrase «endowment policy cover»

Human Life Value: An easy way to decide on the amount of endowment policy cover is to calculate the policyholder's Human Life Value.

An endowment policy covers risk for a specified period at the end of which the insured receives the sum assured plus all accrued bonuses.

Not exact matches

The Life cover on endowment or money back policies will be reduced proportionately to the number of years for which the policy was in force.

The couple purchased the three annuities for a sum which left enough to cover the first annual premium payment for each of the three endowment assurance policies.

Endowment policy An endowment policy offers life cover for the policyholder and also allows the insured individual to save money on a regular basis.

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.

Still, it may be worth it if you need the cash value to cover things like endowments or estate plans, which might benefit from the greater options that a whole life policy provides.

Example If you purchase an endowment policy and pay a premium of Rs 10,000 annually for 15 years, you are likely to get a cover of perhaps Rs 3 lakhs or so, with the amount returned after 15 years with accumulated bonus etc..

If you have enough assets that you have complex financial needs, or you're going to need the cash value of a whole life insurance policy to cover, say, your endowment plan or estate plan, then congratulations!

The IRS covers this in Section 264 (a)(1) and provides that there is no deduction allowed for premiums paid on any life insurance policy, or endowment or annuity contract, if the taxpayer is directly or indirectly a beneficiary under the policy or contract.

For example, a premium of Rs 50,000 per annum will get you a roughly Rs 5 lakh cover in endowment policies or ULIPs.

However, in return, the cover it offers is typically 10 times the cover in traditional «endowment» life insurance policies and ULIPs (Unit Linked Insurance Plans).

The Life cover on endowment or money back policies will be reduced proportionately to the number of years for which the policy was in force.

The company currently provides various life insurance products including term assurance plans, money back plans, endowment plans such as the LIC single premium policy we will discuss in detail on this page below, retirement solutions, unit linked insurance covers, group plans and rural plans, among others.

Insurance Plans: These include traditional insurance policies such as endowment plans, money - back policies, and term covers.

This is a traditional endowment policy which provides a benefit of life cover, saving and critical illness.

An endowment plan may also have riders that increase the amount of cover that a policyholder has by protecting him or her from risks that are not covered under the main policy.

To sum up, an endowment policy is essentially a life insurance policy, which in addition to covering the life of the insured, also helps him or her save regularly over a specific period of time so that he or she receives a lump sum amount at maturity in the event of him / her surviving the policy term.

It is a unit linked non-participating endowment assurance plan which offers investment cum insurance cover during the term of the policy.

This kind of policy provides both life cover as well as good returns and the company always provides the option to participate in bonuses in endowment plans.

Whether you choose term insurance, ULIP or traditional endowment (money back) plans riders help to customize your policy so that you receive cover for eventualities that concern you, your lifestyle and circumstances.

Savings with Protection Solutions - Money back insurance policies that create wealth through periodic incremental savings, and enable you to save money steadily in small amounts with the advantages of a large life cover and tax - free returns on the endowment insurance plan.

Other types of life insurance policies you may want to consider include: whole life insurance, which covers you for your entire life; and endowment policies, which have a fixed expiration date.

Fact: A term life insurance is a pure life cover in nature and it is available in lesser premiums that any other insurance policies such as endowment, money back or ULIP plans.

Simply put, endowment plans are life insurance policies that not only cover the individual's life in case of an unfortunate event, but also offer a maturity benefits at the end of the term.

LIC's New Endowment Plus is a unit linked, non-participating endowment assurance plan which provides you the dual benefit of investment plus insurance cover within the policy term.

Features of an endowment plan An endowment plan is essentially a life insurance plan which provides the policyholder with a life cover and also helps the policyholder save regularly over a specific period of time so that he / she receives a lump sum amount once the policy matures.

I am 30 yrs old, unmarried, GOvt servant already has PLI endowment cover of 10lakhs (Policy till i am 60 years old).

A pure endowment policy is also a form of financial saving, whereby if the person covered survives beyond the tenure of the policy; he gets back the sum assured with some other investment benefits.

Advantages of term life insurance: • Simplicity Term insurance plans are much easier to understand than insurance plans such as endowment policies which combine risk cover with savings.

Along with the insurance cover, an endowment policy gives you the opportunity to build a corpus to meet your future goals.

They can offer higher life cover (compared to endowment plans and ULIPs) at a fraction of the cost and the beneficiary gets a death benefit in case the policyholder does not survive the term (duration of the policy).

However, these loans are granted only against traditional policies like endowment and money back policies that offer both life cover and savings.

Merely buying a life insurance policy such as a term insurance plan or a traditional endowment plan may not cover all risks.

The Kotak classic endowment plan is a traditional participating plan which offers guaranteed maturity benefits and offers life protection to the policyholder along with the life cover throughout the policy term.

It would be a wise decision to buy a term plan that would help you get the pure life cover and then convert it into a savings policy say, an endowment policy that would help you to achieve the savings goals as well.

An endowment plan offers the insurance benefit by providing the life cover or sum assured to the nominee in the event of the death of the life insured during the policy term.

With an endowment plan, you can avail the option to attach riders or add on covers to enhance the protection under your policy.

LIC NEW ENDOWMENT PLAN, is an essential Life Insurance Plan which gives sufficient life cover in the policy's term, This arrangement gives a solid sum which can be utilized to satisfy money related necessities like kids» advanced education and marriage.

I have three endowment policies with a total cover of Rs. 35 lakh.

It is a life insurance endowment plan which provides life cover during policy term and lump - sum maturity amount on completion of policy term.