Endowment plan

If you are looking for wealth creation as well as financial security, an endowment plan is a good option. An endowment plan covers you financially should you die within the policy term. If you survive the policy term, you stand to get the sum assured plus some returns. Because of the additional benefit, the premium paid on an endowment plan is higher than that on a term plan. There are two types of endowment plans – with-profit and without-profit plans. In a with-profit plan, you get a share of the profits of the insurance company along with the sum assured at the end of the policy term. In a without-profit plan, you pay a lower premium and get nominal returns along with the sum assured.

Want to know more?
Leave your contact details and have our financial expert get in touch with you.