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Life Insurance

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Protection for your Life

Endowment Policy Made Easy.

An individual buying an endowment plan has the benefit of saving money over a specific period of time. The policy holder gets a lump sum on the maturity of the endowment plan. The policy includes life assurance, so it will also pay sum assured + accrued bonus, if the policy holder dies during the term of the policy.

What is Endowment Policy?

Endowment policies cover the insured for a specified period. Thus, the insured has the option to insure himself till he wishes to be insured.Upon the death of the insured (during the term of the policy), the nominee receives the sum assured plus the bonus, if any. Bonus is paid for the number of years the policy was in force. Upon maturity, the insured receives the sum assured plus the bonus for the term of the policy, if any. Thereafter, the insured is not covered by the policy.

The Endowment Policies are been Classified in two types:

  • Endowment: Without profit.
  • Endowment: With profit
  • Benefits of Endowment Policy
    Endowment policies give you the following benefits:
    • They are low risk plans to invest in since the maturity benefits are guaranteed.
    • The endowment policy gives your loved ones financial security.
    • Endowment policies help you avail tax benefits.
  • Features of Endowment Policies
    • Death along with Survival benefits
    • Higher returns
    • Premium Payment Frequency
    • Flexibility in Cover
    • Tax Benefits
    • Low Risks