Gurans Endowment with Profit Policy
The most popular form of life assurance since it makes provision for the family of the Assured in the event of early death, as also assures a lump sum amount at a desired age. The amount assured, if not paid by reason of earlier death becomes payable at the end of the endowment term.
Premiums are payable for a term of years equal to the endowment term or until death if it occurs within this period.
If payment of premiums is discontinued after at least two years premiums have been paid, a paid up policy for an amount bearing the same proportion to the sum assured as the number of premiums actually paid bears to the number stipulated for in the policy, will be automatically secured. Such reduced paid up policy will not be entitled to participate in the profits declared thereafter.