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Endowment Plan

Ensure that your family is well covered with high protection at low cost.
You always want the best for your family. But life is full of uncertainties. That’s why it’s important to ensure that your family is well protected should something unfortunate happen to you. This simple plan is a truly affordable form of life cover, offering high levels of protection at a low cost. It’s an ideal way to make sure your loved ones have lifelong comfort and security.

The policy provides for payment of the Face Amount to the policy owner at the expiration of the Endowment period. Death at any time before the expiration of the Endowment period terminates the payment of premiums and the Face Amount with Accrued Bonus is paid to the beneficiary.

In Case Of Death Of Insured Child Before Maturity:

Death benefits are payable subject to Graded Death Benefit Endorsement*

Graded Death Benefit Endorsement*: In the event of Insured's death prior to his attaining the age of 3 years the amount payable under this policy shall be in accordance with the following schedule:

Age at death Amount Payable
Less than six months 25% of Face Amount
1 year nearest birthday 50% of Face Amount
2 years nearest birthday 75% of Face Amount
3 years nearest birthday & over Full Face Amount

In case of death benefits exceeds 25 percent of Face Amount, 25 percent of Face Amount shall be paid immediately and remaining payable benefits including bonus accrued till the date of death shall be paid at maturity. 



Minimum age 1 month (31 days), maximum age 55 years.

Face amount:
Minimum Rs. 50,000, maximum Rs. 50,000,000

Policy Term:
Can take 10, 15, 20, 25 or 30 years or maturity of plan at age 55, 60, 65.

Mode of payment:
Annual, Semi-Annual or Quarterly

Who can buy this plan? And how?

  1. Any person with normal income can buy this plan for self.
  2. Insured persons with normal income can buy this plan for others.
  3. For person without income, only applicant with income can buy insurance plan for him/her, up to amount not more than or equal to applicant’s insurance amount (in normal case).
    First policy issue date: 01/09/2002

Rider is an addition to an insurance policy that becomes part of the contract. It provides extra benefits as mentioned in contract in case of eventuality as covered. Some of the riders that can be attached to insurance policies are:

  • Accidental Death Benefit (ADB): It provides payment of an additional sum in the event of death of insured due to accident.
  • Personal Accident Coverage Rider (PA): The rider pays benefits incase of losses occurring on or after this Supplementary Contract effective date and during the period this Supplementary contract is in effect subject to the terms, conditions and exceptions contained in this Supplementary Contract. The total maximum benefits payable under this Supplementary Contract shall not exceed the Principal Sum. The benefit covered under this rider is accidental death, dismemberment and Permanent total  disability.
  • Disability Waiver of Premium Rider (WP): he disability waiver of premium (WP) benefit may be attached to any regular Par life insurance policy along with supplementary rider. If attached to the basic policy, it must also be attached to the riders providing additional benefits.  The WP benefit provides for waiving of premiums falling due between commencement of and recovery from total disability (as defined in the rider) which has continued for 6 (six) months or longer and which has commenced prior to maturity or expiry of the policy, or policy anniversary nearest age 60 whichever is the earlier date. WP may be offered to males and to females between ages of 18 and 55, inclusive, who are gainfully employed. Females must be self-supporting and have regular and steady salaried income from employment outside the home. WP issued to females will be at 1.5 times the standard rate.

Endowment Policy Wording