Universal Life | Endowment Scheme Supplementary Benefits

Endowment Scheme Supplementary Benefits

Term Assurance

Additional insurance cover for loss of life with very low premium and predefined duration, which does not exceed that of the policy. This cover is paid for loss of life from any cause.

Accidental Death

In case of loss of life from an accident, the amount is paid as a lump sum to the heirs over and above the sum assured of the basic plan.

Permanent Total Disablement

The benefit is paid in case of Permanent Total Disablement due to accident or illness in twelve equal quarterly instalments beginning six months after the disability occurs. The basic plan continues to be in force as long as the premium is paid. The benefit of Permanent and Total Disablement expires at age 60 or at the maturity of the policy or when the policy is not in force.

Accidental Death or Permanent Total Disability from Accident

This supplementary benefit provides cover for either Accidental Death or Permanent Total Disability from Accident. It is paid in case of death due to accident or if the life assured is totally unable by reason of accident to engage in any occupation.

Disability Income

The benefit is paid monthly in case of total disablement due to accident or illness. The benefit is payable after the expiry of three months of any period of disability and expires at maturity of the policy or at the maturity of the benefit or at the age of sixty five, whichever takes place first. Provided that the disablement continues to exist following the first 24 monthly payments the benefit will continue to be paid only if the total disability becomes permanent.

Waiver of Premium

In the event of total disablement due to accident or illness any future premiums (after the first six months of disability) will be waived and assumed to be paid by the Company. The benefit expires at age 60 or at the maturity of the policy if earlier.

Dread Diseases

This benefit is paid as a lump sum in case one of the following dread diseases appears. The basic plan is not affected by the payment of this benefit.

• Cancer (of specified severity)
• Coronary Artery Disease Requiring Surgery
• Heart Attack (of specified severity)
• Chronic Kidney Failure
• Major Organ Transplantation
• Stroke
• Structural Heart Surgery
• Multiple Sclerosis
• Benign Brain Tumor
• Blindness

Please note that the addition of supplementary benefits requires additional premium.