The Seed
A policy that provides for the payment of a lump sum on death of the assured happening during the term of the policy. The lump sum will be paid to a nominated beneficiary or an estate, or to a cessionary and may be used for the following:
- Replace lost income for the family when the breadwinner or insured dies.
- Pay the insured’s final expenses such as outstanding debts and loans.
- Pay all or part of the estate duty obligations of the insured.
- Cede the policy for a loan as collateral security, if the lender finds it applicable and acceptable.
The policy has a waiting period of 6 months which is not applicable on death happening through an accident.
The Policy will lapse if a premium is not paid within the grace period of one calendar month. However, the policy can be reinstated within six months from the date of lapse subject to terms and conditions.
One can choose a cashback option that provides payment equivalent to one full year’s premiums after every 3-year period of paying premiums.
The Plan can be combined with a Savings Plan.
List of Requirements
Proof of identity for policy holder and dependents
Documents to verify age
Proof of dependency
Proof of nationality
