This is the most affordable arrangement for providing for the family against premature death of the bread-winner. The premium rates are lower than those for other types. The insured has the option to pay premium till he reaches the age of 50, 55, 60 or 70 years as he may desire, according to the age up to which he expects to have an income to finance the policy. The value of a whole life policy is payable on the death of the policy holder or on his attaining the age of 85 years whichever is earlier.
Accidental death benefit and Accidental disability benefit will be available if the life insured is aged 50 years or less whereas Treatment of Cancer Benefit or Bypass Surgery Benefit will be available if the life insured is aged 35 years or less.