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What is meant by a paid-up endowment policy?

By IndianMoney , 1 month ago

If an Individual has paid premiums on their endowment policy for a minimum of 3 years, they have the option of converting their endowment life policy to a paid-up endowment policy. If you are dissatisfied with your endowment life policy but do not wish to surrender your policy, you can choose to not pay the premiums any longer. Your policy continues until maturity, but your sum assured is reduced.

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