The phrase
"traditional endowment" refers to a financial contribution or donation that is given to an organization or institution with the intention of providing ongoing support or funding for its activities. It is a long-term investment that helps ensure the organization's sustainability and makes a lasting impact.
Full definition
In case
of traditional endowment, health, and term insurance products, service tax is charged on the total premium that you pay.
Second, the plan should be kept in force for more than two years
for traditional endowment plans and five years for unit - linked plans.
Bajaj Allianz Life Super Life Assure is a non-linked, participating, regular premium
paying traditional endowment plan that provides the dual benefit of life cover and compulsory savings that further helps you achieve the targeted financial goals.
The OPC National Coordinator who called on the traditional rulers and other custodians of African cultures and traditions to buckle up at the defence of the continent's enriched God - given potentials, said no effort must be spared at raising the bar of
African traditional endowments for the betterment of all.
Unlike traditional endowment plans where survival benefits are payable only at the end of the endowment period, a money back plan offers periodic payments of partial survival benefits during the tenure of the policy as long as the policyholder is alive.
This double benefit endowment plan redefines the conventional concept of insurance plans and is different from all
other traditional endowment plans available in the market.
Maturity -
A traditional endowment plan with the added feature that even after the maturity, the plan continues to be in force.
The company has
filed traditional endowment plans for life insurance business and personal accident and health insurance products with the Irda.
But people mostly
like traditional endowment or ULIP plans where they will also earn some interest at the end of maturity thinking that an insurance cum savings plan is better than a term insurance plan.
SBI Life Shubh Nivesh Plan is a participating
traditional endowment policy which gives various benefits under a single plan for a secured and wealthy future.
Bajaj Allianz Life Super Life Assure is a non-linked, participating, regular premium
paying traditional endowment plan that provides the dual benefit of life cover and compulsory savings that further... Read more
Claims Settlement Ratio is not measured separately for term insurance plans but it is calculated for all kinds of life insurance products put together, i.e. saving products such as
traditional endowment products, anticipated endowments (money - back), term insurance products, child insurance products, etc..
From traditional endowment plans to innovative tax saving plans, and from lucrative money back plans to micro insurance plans, LIC has it all and much more.
For example, for Rs. 50,00,000 coverage, 30 - year term
of traditional endowment policy for 25 - year - old man will cost him monthly Rs. 13000.
Commission to agents / corporate agents / bancassurance varies between 7.5 per cent for ULIP and 40 per cent
for traditional endowment plans
While
in traditional endowment plans the service tax (including cess) is 3.09 per cent for the first year, it is 1.545 per cent of the premium from the second year onwards.
1 — It is
a traditional endowment plan.
While we have
the traditional endowment plans, like the one Mahesh had purchase, we also have money back plans, marriage endowment plans, child endowment plans, education endowment plans and so on.
These plans are essentially of two types, Unit Linked Insurance Plans or ULIPs that provides returns based on market performance, and
traditional endowment plans that offer a lump sum or annuity payout at the end of the policy term when the life insurance policy matures.
Usually child plans come with the bonus earning feature if they are offered as
a traditional endowment plan.
This is
a traditional endowment plan that also provides the benefits of bonuses.
With effect from April 1, 2012, Service Tax Rate has been changed to 3.09 % on first year premium and 1.545 % on subsequent year premium for
traditional endowment & annuityA contract sold by a life insurance company that provides fixed or variable payments to a recipient, either immediately or at a future date.
Hence any money back received as part of the product structure or amount accumulated under
a traditional endowment or unit linked plan will simply be payable to the beneficiary at the maturity of the policy.
ULIPs are a variant of
the traditional endowment plan.They pay out the sum assured (or the investment portfolio if its higher) on death / maturity.
This is
a traditional endowment plan that helps you to fulfil your aspirations and realize your dreams by offering you a steady income.
Aviva Wealth Builder is
a traditional endowment plan without a bonus feature.
The sum assured under these plans is generally higher than what is available for the same amount of premium under
the traditional endowment policies.
Presenting «Bajaj Allianz Save Assure» -
a traditional endowment plan that not only secures you and your family but also guarantees 115 % of your sum assured.
ULIP, a variant of
the traditional endowment plan, gives greater control to the policyholder with respect to where the premium can be invested.
Phrases with «traditional endowment»