Endowment Assurance (Santosh)

 

Endowment Assurance (Santosh)

Under this scheme the proponent is given an assurance to the extent of the sum assured and accrued bonus till he/she attains the pre- determined age of maturity i.e 35,40,45,50,55,58 & 60 years of age.

ü  In case of death of insurant, assignee, nominee or legal heir is paid full amount of sum assured with accrued bonus

ü  Minimum & maximum age at entry: 19-55 years

ü  Minimum sum assured ₹ 20,000; Maximum ₹ 50 lac

ü  Loan facility after 3 years

ü  Surrender after 3 years

ü  Not eligible for bonus if surrendered before completion of 5 years

ü  Proportionate bonus on reduced sum assured is paid if policy is surrendered after 5 years

ü  Last declared Bonus- ₹ 52/- per ₹ 1000 sum assured per year

Source:www.indiapost.gov.in