Endowment Insurance Plan is the most popular and commonly available Insurance Plan. The main object of this plan is to ensure financial security of you and your family. It pays you the amount of money that you have decided to fix as Sum Assured and earned bonus at maturity or in unfortunate loss of life.
Key Features
- Wealth Creation through Bonus
- Sum assured plus accrued bonus on maturity.
- Valuable variable financial protection for your family in case you are not around
- Flexibility to add supplementary benefits or rider based on your choice for a nominal extra premium
- Can take loan from the policy after two years in case of financial hardship
- Flexible Payment Option (Yearly, Half Yearly & Quarterly)
How does the Plan work?
You pay premium until claim or maturity whichever is earlier and receive Sum Assured plus Accumulated bonuses either at maturity or in the unfortunate event of loss of life.
How much you will get?
- Maturity Benefit: On maturity you get the Sum Assured plus accumulated bonuses (if any) till maturity date.
- Life Cover Benefit: In the unfortunate event of loss of life, your nominated beneficiary will receive Sum Assured plus accumulated bonuses (if any) till the date of death.
- Discontinuance Benefit: If you opt to discontinue the premium after two years, you will receive the discontinuance benefit (if any).
What is the Plan term?
You can select the plan term from 10 years to maximum 30 years subject to your maximum age at maturity is 70 years.
Who can buy this Product?
If your age is between 18 & 60 years, you can buy this plan.
Available Supplementary or Rider
- ADB – Accidental Death Benefit
- PDAB – Permanent Disability and Accidental Benefit
- HI – Hospitalization Insurance
- FIR – Family Income Rider
- MDB – Major Disease Benefit
At a Glance:
| Category | Savings |
| Single / Joint Life | Single |
| With Profit | Yes |
| Maturity Value | Sum Assured + Accrued Bonus |
| Death Benefit | Sum Assured + Accrued Bonus till date of death |
| Loan | Yes – Maximum 90% of surrender value excluding bonus |
| Paid up | Yes (after two years premium payment) |
| Alteration Allowed – after 2 years from the commencement date | Allowed – after 2 years from the commencement date |
| Premium payment mode | Yearly, Half-Yearly, Quarterly |
| Term | Min 10 Years – Max 30 Years |
Discontinuation of regular premium payment:
| No of years premium paid | Consequence |
|---|---|
| Less than two year | The policy will be void (no value payable) |
| Equal to or more than two years | The policy will be made a reduced paid-up insurance free from payment of any future premiums and such an amount shall be paid either on maturity or earlier death. |
To learn more please contact:
Delta Life Insurance Co. Ltd
Phone: 55051019, 09613 666 000
Customer Care: 09613 666 999
Email: info@deltalife.org
* Supplementary Benefits or Rider: Supplementary Benefits or Riders are additional coverage attached to main benefit. See Rider Benefits guide for details.