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Endowment Assurance Platinum Plan is a remarkable individual insurance and money growth strategy plan. It serves as a reserve fund while offering ensured insurance coverage throughout the time of the policy. Adding different advantages to the scheme subsequently helps in getting assurance for various plausible dangers the policyholder might experience during the whole term. Maturity value in addition to terminal rewards can be utilised for a particular reason like education of your kids, kid’s marriage, retirement or a special vacation you were planning to take. In general, this scheme can assist you with accomplishing your objectives and turn goals into reality. So regardless of whether it is for an emergency, to take care of your home loan, for the international trip with your loved ones, or some other need, you can plan savings with an Endowment Assurance Platinum Plan.
You are provided with a lot of benefits when you opt for this plan. Here are some of the key features of the Endowment Assurance Platinum Plan:
The currencies in which you can pay your premium are:
The age criteria play an important role in this plan. You should plan beforehand if you think of taking up this plan.
You can choose any scheme term between 5 years to 30 years.
You can pay your policy term in 4 ways:
There are four modes by which you can pay your premium:
There are numerous guaranteed survival benefits in this kind of assurance plan and they are:
If you happen to face sudden death, your loved ones will still benefit from this plan. They will get:
We already discussed that this platinum plan comes with a pool of benefits. Apart from those, you also get a bunch of optional benefits which are listed below:
The endowment assurance platinum plan has been explicitly designed to furnish you with cash when it is generally required. This plan guarantees to pay a degree of sum assured and rewards to the recipient if there is an occurrence of the sudden death of the policyholder during the term and also pays similar advantages if the policyholder endures the whole scheme term. This basic but effective plan from the insurance company offers the client the option to save their cash in USD or AED over a decided timeframe, permitting it to gather and grow. If there is an occurrence of the sudden passing of the policyholder, the recipient is guaranteed to get the life coverage sum alongside terminal rewards. The guaranteed sum offers the security for your reserve funds, while the yearly terminal reward, issued each year, offers good returns for the sum saved. These rewards, which are announced every year, are gathered and paid alongside the last maturity amount.
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In case of sudden demise during the scheme term, the full sum guaranteed in addition to terminal rewards will be paid to the recipients, thereby providing financial security to the family. This is an overall cover with benefits payable in any country (standard prohibition applies). The advantages depend upon payment of full charges.
Three installments at specific periods will be paid all through the scheme term dependent on the survival of the policyholder.
Every year, the insurance company proclaims a terminal reward that gets accumulated in the scheme and is paid at the time of the final maturity or when the demise claim of the policyholder is paid. The reward relies upon the profit of the business.
If the policyholder needs cash urgently, it is feasible to acquire a credit against the money value of the scheme.
The scheme procures a money value after a specific period based on the payment term. The policyholder can give up the scheme, which is dependent on a money value chart introduced at the start of the scheme.
This period of 30 days is permitted after the policyholder fails to pay the premium. All advantages remain the same during this period.
If there is an occurrence of monetary trouble in paying the charges, the Automatic Loan choice will empower the policyholder to pay the premium from the money value of the scheme. The company will proceed with subject to the accessibility of cash value.
After obtaining money value, if the policyholder can’t proceed with the premium installment, they can choose to convert the scheme into Paid-Up status. The Sum Assured (for demise) for this situation will be reduced to the worth of the Paid-up Amount.
The owner of the policy additionally has the choice to pick the Extended Term choice, which empowers the Demise Benefit to proceed at 100%, while the Endowment value, assuming any, will be cleared at the end of maturity.
The lapsed scheme can be restored within 2 years of the last expense paid by paying the charges due alongside the charge subject to ‘Affirmation of Good Health’.
Shorter Premium Payment choice
This exceptional component empowers clients to pick more limited Premium Payment Term on the basis of their comfort regardless of the Scheme Benefit Term.
Other than the usual premium, the client can decide to pay the expenses in one of the three more limited time frames listed below:-
This restricted period premium instalment aids clients to finish their instalment well ahead of time, so they get to enjoy the essential advantages of the scheme without paying the premium for the leftover term.
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