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Key Takeaways
If the policyholder survives the policy term, they receive the life insurance maturity amount, which usually includes the sum assured and any applicable bonuses (for policies that offer maturity benefits, such as endowment/ULIPs).
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Combining Protection and Savings in Life Insurance
Having a life insurance policy with maturity benefits offers a dual advantage. A policyholder is guaranteed a sum assured through the term plan, but if they survive the policy term, they receive additional maturity benefits, which are often higher than the basic guaranteed amount.