While launching the new scheme, Zonal Manager (North Zone) A P Singh said that this is a plan where the premium would be paid in lump sum at the outset of the policy. The policy holder is entitled to full risk coverage for the term and at the end of the policy term, a sum assured along with simple reversionary bonus and final additional bonus (if any) is payable.
The policy can be taken for a 90-day-old child to a 65-year-old person for a maximum of 25 years. Singh added that the minimum sum assured is Rs 50,000 and can be taken in multiples of Rs 5000 with no limit for maximum sum assured.
It also takes care of liquidity through its loan facility. The plan is suitable for those with large sums to invest and looking for safer instruments and those who want financial protection with a single premium. It is also ideal for providing for future educational needs of the children and future provisions. It can be a gift from grandparents/ parents to their children. The plan is ideal for professionals, sportspersons, artists and cine stars with high incomes.
The policy can be taken for a 90-day-old child to a 65-year-old person for a maximum of 25 years. Singh added that the minimum sum assured is Rs 50,000 and can be taken in multiples of Rs 5000 with no limit for maximum sum assured.
It also takes care of liquidity through its loan facility. The plan is suitable for those with large sums to invest and looking for safer instruments and those who want financial protection with a single premium. It is also ideal for providing for future educational needs of the children and future provisions. It can be a gift from grandparents/ parents to their children. The plan is ideal for professionals, sportspersons, artists and cine stars with high incomes.