TRADITIONAL PLANS

All traditional plans of life insurance are the combination of these two basic plans. Aterm assurance plan with an unspecified period is called "Whole Life POLI CY 'in whichthe sum assured (SA) is paid with death, whenever that may occur. A term assurance-plan, along with a pure endowment plan, when offered as a single product called an endowment assurance Plan, in which the SA is paid in the period indicated abovesurvival or death. A term assurance plan with a pure endowment plan twice the value ofplan is called a double-manning requirements under which the amount payable on survival is twice the amount payable on death. What is called a return of money "or the policy of allocation provided, under which say that 20% of SA is payable on survival in five years and 40% in survival for 20 years and complete SA in death at any time in 20 years is actually a combination of a guarantee scheme within 20 years if it is for the fullSA and four different plans for the provision of 20% of the SA 5yeras. 20% of SA for 10years, 20% SA for 15 years and 40% SA for 20 years).