Flexible Endowment Plan
About Flexible Endowment Plan (FEP)
This is an endowment plan that combines protection and investment. It provides guaranteed payouts at regular intervals in three installments.
- Provides for full payment of the face amount in the event of death of the policyholder during the period of insurance.
- Period of insurance ranges from 6, 9, 12, and 15 years.
- Provides for annual reversionary bonus payable in addition to the face amount or earlier death at the rate of 4%
- Provides for cash values on the basic policy and the declared reversionary bonus.
- Provides for 70% of cash value as loanable value after three years of running the policy.
- Provides for policy surrender after two years of payment and maintenance of policy.