تھری پیمنٹ پلان

تھری پیمنٹ پلان Three Payments Plan 

Three Payment Plan

This is a modified form of endowment assurance and is also called "Three Payment Plan". Besides fulfilling the long-term financial needs, it also helps in meeting the short-term financial exigencies. As the name suggests, the plan offers three payments throughout term of the policy.

The plan offers survival benefits equal to 25% of sum insured on completion of 1/3 and 2/3 term of the policy. If the policyholder does not withdraw the survival benefits, a very attractive special reversionary bonus is available.

On completion of term of the policy, the remaining 50% sum insured plus accrued bonuses shall be payable. if the life insured expires during term of the policy, sum insured, accrued bonuses, unclaimed survival benefits and special reversionary bonuses are payable.

The plan is suitable for the individuals who have long-term financial needs but also anticipate requirement of money relatively earlier. three payment plan helps fulfilling these short-term financial needs without terminating the actual contract.

The "Three Payment Plan" you are describing sounds like a unique form of endowment assurance that offers both long-term financial benefits and the flexibility to meet short-term financial needs. It provides three payments throughout the policy term, with survival benefits at 1/3 and 2/3 of the term, and the remaining sum insured plus bonuses at the end of the policy term. In case of the life insured's demise during the policy term, various benefits are payable to the policyholder. This plan seems suitable for individuals with both long-term financial goals and short-term financial requirements.