Maturity Benefit

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Maturity Benefit Maturity benefit is the amount paid to the policyholder upon completion of the policy tenure or when the policy has reached its expiration date. It simply implies that if your insurance policy has a 15-year term, you, the insured, will get a payout at the end of those 15 years. Maturity benefit is calculated as the [Sum Assured + Bonus Amounts] which have been accumulated throughout the policy term + any [Final Addition Bonus] if declared. However if the policy holder does not survive the policy tenure, the nominee will additionally get the Sum Assured amount as the Death Benefit. Maturity benefit policies provide a safety net for your family in case of death, as well as work as a saving or investment tool for you to use the accumulated funds you get on maturity on education, travel, child’s marriage, etc. Anyone over the age of 18 can buy a maturity benefit policy. These policies are flexible in nature, which means you can choose the policy term, value, payment terms, etc. to suit your comfort and convenience. Choose an appropriate life insurance plan based on your present position or life stage to ensure that you and your family have protection in the case of an unforeseen incident. Life insurance may serve as more than a safety net for your loved ones. Maturity benefits might give substantial financial assistance and come in useful when you want to achieve your goals in life. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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