Whole Life Plan
A Whole Life Insurance policy is designed to provide protection to the insured for
Protectionsfor Life – this policy does not expire
- Premium guaranteed to stay the same each and every year
- Cash Value can be used
toany financial purposes.
- Guaranteed Death benefit – The amount your loved ones receive is guaranteed
This policy is suitable for all individuals
How does the Policy Work?
The person who opts for this policy needs to pay a premium every year. Out of
The investment generally grows during the policy period and is returned to the customer if he chooses to withdraw or surrender or lives till the maturity of the policy. But in case the insured dies before the maturity period, then the nominee would get the sum assured.
A Whole life plan comes in different packages like:
- Limited Pay Option
- Limited pay with money back option
- Regular Pay option
Some of the riders available under the whole life plans are:
- Accidental total & permanent disability.
- Critical Illness
- Waiver of Premium, etc.