Every individual passes through with different life stages. For a young, newly married
couple, it could be buying a house. Once, they decide to start a family, the goal
changes to planning for the education or marriage of their children. As one grows
older, planning for one's retirement will begin to take precedence.
These policies are best suited for planning children's future education and marriage
costs. The nominee receives a guaranteed amount of money at a pre-determined time
and not immediately on death of the insured. On survival, the insured receives money
at the same pre-determined time.