Reliance Life Insurance Launches ‘Limited Endowment’ Insurance Plan
November 5, 2020 | Investopaper
Reliance Life Insurance has unveiled a ‘Limited Endowment’ insurance plan. Under the scheme, the insured will be able to get protection for the limited term by paying the premium for limited years.
In case of death of the insured during the insurance period, up to a maximum of 225 percent of the sum insured and the earned bonus will be paid to the desired person depending on the issuance of insurance and the duration of the insurance claim.
In this plan, after the end of the insurance period, the sum assured and earned bonus will be paid. People between the ages of 16 and 65 can participate in the scheme.
The minimum sum insured amount in the scheme is Rs 50,000. The maximum sum insured will be as per the rules of the company. The insurance period in this plan is minimum 10 years and maximum 25 years.
The premium payment period of this scheme is 8, 12, 16 and 20 years. Along with this plan, the insured will also be able to avail additional facilities like accidental death facility, permanent disability and insurance fee waiver in addition to paying the minimum fee.
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