RATE BOOKstate life

WHOLE LIFE ASSURANCE BY LIMITED PAYMENT

WHOLE LIFE ASSURANCE BY LIMITED PAYMENT table 02

How is a whole life policy different from a limited payment policy?

limited payment life insurance definition

WHOLE LIFE ASSURANCE BY LIMITED PAYMENT as a modification of whole life assurance wherein the premiums are payable for selected terms, ranging form 10,15,20,25,and 30 years.

What happens when a whole life insurance policy matures?

at the expiry of selected premiums paying term, the policy will be ket enforce full sum assured and will continue to participate in the profits of state life till age 85 or earlier death of the life insured.

Sum assured plus accrued bonuses become payable at death during or after the premium paying term or at age 85It is a unique combination of protection and savings at a very economical premium.

WHOLE LIFE ASSURANCE BY LIMITED PAYMENT

Death at any time before age 85 years terminates payment of premiums and the sum insured and attached bonuses become payable. In the event the insured survives to the policy anniversary at age 85 years, the policy matures and the sum insured plus bonuses become payable

WHOLE LIFE ASSURANCE BY LIMITED PAYMENT

. Under this plan, the rates of bonuses are usually much higher than the other plans and they help in increasing not only protection but also the investment element of the policy substantially. Click here for supplementary covers which can be attached with this plan.

This plan is best suited for youngsters who have at initial stages of their careers and cannot afford to pay high premiums. Individuals who anticipate requirement of a lump sum in far future can also opt this plan.

state life may grant a loan to the policyholder on his/her written request, against the net surrender value of the policy. the amount of loan shall not exceed 80% of the said net surrender value. the rate of profit or return and the other terms and conditions will be determined by state life at the time of granting the loan.loans of less then RS will not be given.
the amount of loan together with accrued profit or return will be the first charge on the policy, prior to all other claims.

SURRENDER VALUE;
The policy will acquire a surrender value after it has been in force for at least two consecutive years provided no premiums are in default. The surrender value will be quoted by state life on request of the policyholder. the surrender value is guaranteed to be not less than 30% aggregate premiums.

Claim

State Life insurance policies provide a wide range of benefits in case of death of the persons covered against them. If your loved one covered under any of State Life has expired, you should lodge a death claim with us. All you have to do is to send a written intimation to the zonal office of State Life servicing the policy against which you are lodging a death claim.

Maturity

It is a matter of great pleasure that your policy has matured. It is a time to fulfill the goals that you had set years back. For collecting maturity benefits, please send a written request alongwith following documents to your servicing State Life zonal office

Click here for calculation of premium on your life under this plan.supplementary contracts/riders can also be atteched

age nearest birthday10 years15 years20 years25 years3o yearspremium ceasing at age 70
2038.5128.1623.1020.1618.2915.23
2139.4428.8423.6720.6618.7515.73
2240.4229.5724.2621.1919.2316.25
2341.4230.3124.8821.7319.7416.80
2442,4531.0625.5022.2920.2517.37
2543.4931.8326.1422.8520.7817.97
2644.5532.6126.7923.4321.3218.59
2745.6533.4327.4724.0421.8919.25
2846.7834.2628.1724.6722.4919.94
2947.9335.1128.8825.3023.1020.66
3049.0935.9729.6025.9623.7321.43
3150.2536.8430.3426.6424,3822.22
3251.4337.7231.0927.3225.0423.03
3352.6338.6331.8628.0325,7123.89
3453.8739.5632.6628.7726.4324.80
3555.1340.5233,4829.5427.1825.77
3656.4541.4234.3530.3527.9826.80
3757.7842.5435.2431.1928.8127.89
3859.1543.5936.1632.0729.6929.04
3960.5744.6937.1433.0030.6230.28
4062.0245.8438.1533.9731.5931.59
4163.5146.9939.2034.99-32.99
4265.0548.2140.3236.08---34.49
4366.6349.4841.4837.22--------36.10
4468.2650.8042.7038.42----37.83
4569.9452,1843.9839.68-------39.68
4671.6953.6345.34----------------41.69
4773.4955.1446.76-------------------43.86
4875.3556.7248.36-------------46.20
4977.2858,3649,84-----------------48.74
5079.2960.1051.50----------------51.50
5181.3661.90-------------54,52
5283.5163.79--------------------------57.83
5385,7267.75--------------------------61.46
5488.0067.80----------------------65.48
5590.3369.92---------------------69.92

Tags

zahid lar

hard working is key to success

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Close
Back to top button