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Mr.Pradeep Diwan
LIC Agent
7C / 8C, Parekh Nagar Indl. Estate,
S. V. Road, Kandivli (West), Mumbai -
400067
Maharashtra, India.
Tel: 28050377/
28055576
Fax: 28056748
Cell: 9324422924
pradeep@licinsurance.com |
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MARRIAGE
ENDOWMENT
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Being
an endowment assurance policy, this plan is
apt for people with fluctuating income of
all ages and social groups who wish to protect
their families from a financial setback that
may occur owing to their untimely death and
in particular to meet the educational and
marriage expenses of childern.
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The amount assured will become payable at
the end of the endowment term when it can
be invested in an annuity provision for the
rest of the policyholder's life or in any
other way he may think most suitable at that
time.
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The policyholder also has the option to receive
the policy moneys in 10 equal half-yearly
installments. If there is a death claim, then
the beneficiaries can exercise their right
instead
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The
Marriage Endowment/ Educational annuity plan
provides a sum assured to be kept aside for
the expenses of marriage or higher education
of the policyholder's children. Premiums payable
for selected term or till death of the life
Assured. Benefits will be given only after
the selected term.
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With the help of this policy one can earmark
money exclusively for the marriage or higher
education of children – two major responsibilities
in the life of every family person.
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Under this plan the policy monies and bonus
are paid only at the end of the selected term,
irrespective of whether the policy holder
survives till the term or not, i.e. the survival
or death benefit is payable at the same time.
Unlike in the case of other endowment policies,
the policy benefits in the case of Marriage
Endowment / Educational Annuity Plan are not
released to the policy holder’s family
in case of his premature death, but retained
by LIC and released only at the end of the
originally selected term.
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In case the policy holder were to die during
the term of the policy, no further premiums
are payable but the bonus continues to accrue
for the full-term of the policy. The sum assured,
plus the accumulated bonus for the full term,
are then paid to the family at the end of
the policy’s term. Further, one can opt
to receive the money either in one lump sum,
or in ten half-yearly installments, the former
may be suitable if the policy is bought essentially
for the purpose of a child marriage and the
latter if it is a provision for higher education.
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n case, the
Double Accident Benefit is availed, then
an additional sum equal to the basic Sum
Assured becomes payable immediately on death
due to accident during the policy term
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Non-medical General and Special schemes are
applicable
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Minimum
age at entry : 18 years
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Maximum
age at entry : 60 years
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Maximum
age at maturity : 70 years
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Minimum
Sum Assured : Rs.30,000
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Maximum
Sum Assured : No Limit
- Policy Term
: 5 to 25 Years
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Mode
of Payment : All Modes
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