Life Insurance Corporation of India : The Endowment Assurance Policy-Limited Payment
This is the most popular form of life assurance since it not only makes provision for the family of the Life Assured in the event of his early death, but also assures a lump sum at any desired age. The amount assured, if not paid by reason of his earlier death, becomes payable at the end of the endowment term when it may be invested to provide an annuity during the remainder of his life or in any other way he may think most suitable at the time.
Just as in the case of limited payment whole life polices, here, too, the payment of premium can be limited either to a single payment or to a term shorter than the policy. The endowment is, however, payable only at the end of the policy term, or on death of the policy holder if it takes place earlier.
Plan :
# Payment Mode: Yearly Half-Yearly Quarterly.
# Entry Age: Minimum : 12 Years. Maximum : 65 Years
# Sum Assured: Minimum :Rs.50000/- Maximum : No Limit.
# Policy Term: Minimum : 5 Years Maximum : 55 Years
Sources : http://www.licindia.com/