Regular saving is important, Endowment plan helps you developing it
You are insured for the longest time, which give financial security to your family
Premium invested and returns are both deductible under article 80C
Additional riders can help you in time of critical illness etc.
Help in financing your child’s future to your new venture
You also get some amount of death benefit in Endowment plans
Get guaranteed returns even in market uncertainties by investing in Endowment Plans
Invest regularly now and fund your own pension.
Your dreams and aspirations need to be secured. Your social and family obligations need to be fulfilled. An endowment plan is designed to do precisely that. You get the dual benefit of life insurance as well as wealth accumulation through years of regular investing. Moreover, it brings tax benefits on two fronts, too. Your premium is tax-deductible and so is the maturity corpus.
For individuals with responsibilities of meeting large expenses in the future, endowment plans are a blessing. They have relatively low risk, yet give proportionately higher tax adjusted returns. A lump sum amount on death and guaranteed maturity amount on survival also ensure that neither you nor your loved ones are left unprotected.
Endowment plan motivates you to save and protect you and your family in the time of crises or in your absence.
A rough timeline of an endowment plan is such: after you pay your first premium, your policy commences. In case you pass away, the life cover is paid out to your family.
If you survive the policy term upto the date of maturity, you receive the survival benefit - a lump sum amount multiplied over the years.
This way, you’re protected both in life and death.