Three Payment Plan (With Bonus)

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The Three Payment Plan (With Bonus) by Sunlife offers a unique insurance product that provides flexible payouts during the policy term, ensuring both financial security and convenience. This plan is designed to meet the financial goals of policyholders through staged payouts and bonus provisions, making it a reliable choice for individuals seeking structured financial protection and long-term savings.

Key Features

1. Structured Payouts

Insurance money is distributed in three installments during the policy term. 25% of the sum assured is provided after the first and second thirds of the term, with the remaining 50% paid at maturity.

2. Bonus Facility

Accumulated bonuses are paid alongside the final maturity payout.

3. Eligibility

Minimum age for policyholders is 20 years, with a maximum entry age of 60 years. Policy can be availed by male policyholders up to 72 years and female policyholders up to 67 years at maturity.

4. Loan Facility

Up to 90% of the policy’s surrender value can be taken as a loan after two premium payments.

5. Tax Benefits

Premiums paid under this plan qualify for tax rebates.

6. Additional Coverage

Riders such as double indemnity and disability benefits are available.

7. Flexible Premium Payments

Premiums can be paid annually, semi-annually, or quarterly.

8. Uses of Installment Payouts

Installment payouts can be utilized for life events like children’s education, marriage, or other family needs.