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Endowment Insurance Plan

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A person always dreams to provide the best facilities for his family members. Once he starts earning he sets a goal to buy a house, a car, to get married and later he plans to provide the best education for his children. He always wants these facilities to be there after he retires, and even after his death.


For such requirements, Endowment Plans are the most preferred


Benefits of Endowment Plans
  • Endowment policy covers the risk for a specific period.
  • In case of survival, in addition to the sum assured, additional bonuses accumulated during the term are also paid.
  • In case of death of the policyholder during the policy term, the death benefits are payable to the nominees, which includes payment of full sum assured in addition to the vested bonus.
  • If payment of premiums ceases after at least certain minimum years' premiums have been paid, a free paid-up policy for a reduced sum assured can be secured subject to certain conditions.
  • Endowment policies are liquid in nature.
  • The policyholders also have the options to add accidental riders by paying a marginal premium.
Types of Endowment Plans
Endowment Assurance Policy

This is a simple endowment plan that provides life cover and provisions for old age. Sum assured is payable on the death or on the maturity.

Limited Payment Endowment Policy

Under, this plan you can choose the period of premium payment, i.e. you do not have to pay premiums for the entire life of the policy. For example for a 30-year term of the policy, you pay premium only for the first 15 year only, however, you continue to receive benefits like bonuses and dividends for the next 15 years too.

Joint Life Endowment Plan

This type of policy covers two person for the same sum assured it is best suited for a husband and wife. The sum assured is paid on the expiry of the policy or the death of either of the insured. The cover to the other person is stopped thereafter.

Double Endowment Policy

Under this policy, the amount of sum assured is double if the person survives the term of the policy. For example, under this policy the sum assured payable on death might be Rs. 10,00,000, whereas the amount payable on survival would be Rs. 20,00,000/.


Contact Us to know all about Endowment Plans and to choose the best one for your requirements.

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