Is there any option where I can restrict my premium payment for a lesser number of years than the duration of the policy?

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Yes. With the Kotak Classic Endowment Plan, there is a Limited Premium Payment (LPP) option. Under this option you can take a policy for 15 to 30 years and opt for paying premiums term of either 7 years for 15 years policy term or policy term less 5 years. This option is suitable for people who are sure of secured income only for a specified period of their earning life during which they want to pay off all their premiums.

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