Double Endowment Plan – Mahalaxmi Life Insurance

“Guaranteed Return Endowment Plan”

The plan is a non-participating guaranteed return limited payment endowment assurance plan. The policy holders receives guaranteed sum of double the sum assured amount at the maturity of the policy.

[info_list font_size_icon=”24″ eg_br_style=”none” el_class=”plan-list”][info_list_item list_title=”BENEFITS” list_icon=”Defaults-check”]Death Benefit: In the event of unfortunate death of the life assured during the policy term, the Sum assured as per following or 110% of paid premium (excluding health, occupation extra & rider premium) which ever the higher will be paid to the nominee / beneficiary provided policy is in enforced.

Up to 5^th Year	100% of Sum Assured
6^th Year to 10^th Year	150% of Sum Assured
11^th Year onwards	200% of Sum Assured

The policy will terminate on payment of the death benefit and nothing will be payable thereafter.[/info_list_item][/info_list][info_list font_size_icon=”24″ eg_br_style=”none” el_class=”plan-list”][info_list_item list_title=”Maturity Benefit” list_icon=”Defaults-check”]Double of the Sum Assured will be paid at Maturity of policy provided policy is enforced till maturity.[/info_list_item][/info_list][info_list font_size_icon=”24″ eg_br_style=”none” el_class=”plan-list”][info_list_item list_title=”Paid-up Value” list_icon=”Defaults-check”]Policy shall acquire the Paid-up value after paying at-least 2 years full premium. If the premium if discontinued after policy acquires Paid-up value, such paid-up value shall be paid on policy maturity date or death whichever occurs earlier.[/info_list_item][/info_list][info_list font_size_icon=”24″ eg_br_style=”none” el_class=”plan-list”][info_list_item list_title=”Surrender Value” list_icon=”Defaults-check”]Policy can be surrendered any time after the policy acquiring Paid-up Value as per Beema Samiti guidelines.[/info_list_item][/info_list][info_list font_size_icon=”24″ eg_br_style=”none” el_class=”plan-list”][info_list_item list_title=”Supplementary benefits” list_icon=”Defaults-check”]ADB and PTD (Accidental Death Benefit and Permanent Total Disability Benefit) and PWB(Premium Waiver Benefit) is available for full policy term, equal to sum assured but not more than Rs. 1,00,00,000 upon payment of additional premium.[/info_list_item][/info_list]

[info_list font_size_icon=”24″ eg_br_style=”none” el_class=”plan-list”][info_list_item list_title=”ELIGIBILITY CRITERIA” list_icon=”Defaults-check”]Minimum Age at Entry: 18 years (Nearest Birthday)

Maximum Age at Entry: 55 years (Nearest Birthday)

Policy Term: Minimum 10 Years and Maximum 30
Years in the interval of 2 years

Premium Paying Term: Half (i.e. 50%) of the policy term

Premium Payment Term: Yearly, Half-Yearly, Quarterly and Monthly

Minimum Sum Assured: Rs.50,000

Maximum Sum Assured: Rs. 5,00,00,000, (in intervals of 10,000)[/info_list_item][/info_list]

First Policy Issued Date: 10th February 2019

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