Sandeep Behl
Development Officer, LIC


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Single Premium Whole Life - Plan 8

Whole Life Single Premium With Profit



Features



Special Features



Benefits



Policy Parameters



Suitable For



Features



This is the best form of life assurance for family provision since it enables the Life Assured to pay the premium during the ordinarily vigorous and most productive years of life, relieving him from the necessity of making payments later in life when they might become a burden.



Special Features



With Profits Single Premium policies do not cease to participate in profits after completion of the period for which premium has been paid ,but continue to share in the periodical Bonus Distribution until the death of the Life Assured.



Benefits



Survival Benefits



Nil



Death Benefits



Premiums are payable one time only. If the life assured survives the stipulated term of the policy , the policy continues in full force, and full sum assured (with or without bonus) will be paid on death.



Policy Parameters



  Min Max
Entry Age 12 (nearer birthday) 60
Sum Assured 30000 No Limit
Term - -

Mode of Payment Max Premium Paying Period Policy loan available
Single 80 yrs of age or 40 yrs from the date of commencement whichever is later Yes

Suitable For



Being a limited payment life assurance policy, this plan is suitable for people of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise.



 
 





 

   
 
     
     
     

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The average family simply does not have enough money in the back to cover these expenses in the event something were to go wrong.

Since more adults pass on than children,. The best thing you can do is to make sure that everything would be covered through the purchase of life insurance for your child. If your child were to pass on, you would be experiencing a lot of sadness and anger. The last thing you want to do is have to worry about how you are going to give your child the funeral that he deserves. The thing is though, life insurance is not about getting rich off of a person's death. Of course, this would cost a lot of money and not all funeral homes are able or willing to make payment arrangements for blanca funerals.

You would probably want to make sure that your child is given the best funeral possible. However, funeral costs are extremely expensive. There are many people out there who simply think that purchasing life insurance coverage for children is morbid and just plain wrong.

Of course you would not want to benefit financially from the death of a child.