3. Special Anticipated Endowment
The sum assured is payable in three installments. The policy holder receives 25% of the sum assure twice within specify period before maturity. The remaining 50% become payable at the maturity date of the policy.
In case of early death of the life assure, the full sum assured will be payable to the beneficiaries irrespective of any installments the policy holder has already received.
Advantages of this Plan
The policyholder receives part of the benefits out of his assurance policy during the premium payment period and further retains his life assurance protection for the amount until maturity date. This policy can be taken for 9, 15 and 25 years respectively. It can also serve as collateral or security for loan.