Endowment Life Insurance (Without ADB)

Endowment Life Insurance (Without ADB)

• life insurance wherein a designated premium amount has to be paid for a fixed period of time

• After payment of premium amount for the prescribed period of time, in case of insurance has been done allowing for participation in profits, then the total bonus amount along with the insurance sum is reimbursed to the insured

• In case the insured expires prior to the maturation of insurance period, then no premium amount has to be paid for the remainder of period

• In such case, the insurance sum and the bonus amount calculated till that period is handed over to the person so desired by the insured or his/her lawful right-holder

• The Endowment Life Insurance may be done with or without participation in the profits accrued