Group Endowment Life Assurance Policy

Group Endowment Life Assurance Policy

Group Endowment life assurance policy is provided under an agreement to pay the sum assured, if the insured member is living at the end of the period of assurance or a death benefit of the same amount for designated beneficiaries if he/she dies within same period.

If the insured member is alive on maturity, i.e. after 5, 10, 15… years, the insured member himself will collect the sum assured.

If the insured dies within the policy period, his/her beneficiaries will collect the sum assured.

Furthermore, after three years premium payments, if the insured encountered shortage of money, there is an option to borrow up to 90% of cash value.