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Look Out for an Endowment Plan to Grow Your Savings

  11/18/20 11:41 AM

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Raj Needs Endowment Plan. Do You?

Our friend, Raj, is a young IT professional whose job pays him a decent monthly income.  However, he is unhappy about not being able to spend and save wisely!

Have you ever experienced something similar to Raj? Are you too left with hardly any savings by the end of the month?

If the answer to the above questions is yes, then a savings plan, such as an endowment plan is just what you need!
 

What is an Endowment Plan and Why Do You Need It?

An endowment plan is a type of life insurance that offers pay-out on maturity or demise. In other words, it offers dual benefits – savings and protection.

A savings plan such as an endowment insurance, is a wise choice for you, especially if you match the traits below:

  • Income Type – People who have a regular flow of income, such as salaried individuals, entrepreneurs drawing a monthly income, etc.
  • Spending Type – Those who tend to spend extravagantly.
  • Risk Type – People who like to play-it-safe by trusting on guaranteed returns.
     

Simplifying an Endowment Insurance Plan, Exclusively for You!

Do you find your interest rising towards an endowment plan? Here’s all you need to know about it!

1) Objectives –

  • Financial protection for your family even if you’re not around
  • Risk-free assured investment
  • To fulfil your long-term goals, such as children’s education planning, retirement, etc.
  • Tax Savings on premiums paid and benefits received

2) Purpose –

  • Adopt a disciplined way to start saving your salary
  • Life cover as well as a scope to build a secured future
  • Be prepared for financial emergencies
  • Tax benefits under Section 80(C) and 10(10D) of the Income Tax Act, 1961

3) Pay-out –

  • In case of any eventuality, it pays out the entire sum assured to the family member(s)
  • On survival till maturity, get guaranteed returns out of your hard-earned savings
     

Choose a Savings Plan Designed for Wealth Accumulation

Opting for a savings plan is a boon to you and your family as it secures your savings as well as offers life cover. For instance, Edelweiss Tokio Life – GCAP. It is an endowment plan that gives upfront guaranteed benefits.

This plan enables you to accumulate wealth for fulfilling your grand plans and celebrate your achievements.

Edelweiss Tokio Life – GCAP offers you a fully guaranteed maturity benefit and death benefit. Also, it provides the additional benefit of ‘Guaranteed Accrual Additions’, which accrue from the 9th policy year and pays-out on maturity.

Let No If’s, No But’s, Only “Guarantees”, Come Your Way!

After opting for an endowment plan, Raj is in a more sorted state of mind with regards to his financial future.

If you too want your future to be like Raj’s, go for an endowment plan! Get guaranteed returns on maturity or financial security for your family in your absence.

 

Chirag Iyer - BFSI Enthusiast

Chirag is a writer and an avid reader who loves to drink coffee! His other interests include boxing, karate, and singing.

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