| Insurance >> Youngsters >> Term Assurance Plan >> Convertible Term Assurance Plan |
| Table No. 58 |
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| Features |
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This plan of assurance is designed to meet the needs of those who are initially unable to pay the larger premium required for a Whole Life or Endowment Assurance Policy, but hope to be able to pay for such a policy in the near future.
This plan would be found useful also in cases where it is desired to leave the final decision as to the plan to a later date when, perhaps a better choice could be made.
Policy holders get an option of converting an policy into endowment assurance or limited payment whole life assurance. |
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| Suitable For |
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| For all people with earned income under Category I and unearned incomes under Category II, basically Standard and sub-Standard lives attracting EMR classes I and II. |
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| Benefits |
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Survival Benefit
Not Applicable
Death Benefit
The sum assured is payable only in the event of death of the Life Assured before the expiry of the specified term. |
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| Plan Parameters |
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Minimum |
Maximum |
| Entry Age (years) |
20 (nearer birthday) |
50 |
| Sum Assured (Rs.) |
50000 |
10000000 |
| Term (years) |
5 |
7 |
| Mode of Payment |
Max Maturity Age |
Policy loan available |
| Yearly, Half - yearly, Quarterly, Monthly, Salary Saving Scheme |
55 years |
no |
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