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Home >> Life Insurance >> Endowment Plan

Endowment Insurance Plan

An Endowment Insurance Policy is a combination of Insurance and Investment. An endowment policy is an insurance contract designed to pay a lump sum at the time of maturity or as a death benefit (Sum assured plus bonuses) in case of an eventuality to the life assured. Typically an endowment policy is for a period starts from 5 years to 55 years or up to certain age limit. These policies are with profit polices and a certain bonus is declared and added every year to the policy value. These policies can be encashed early on and insurance companies pay a surrender value, which is certain percentage of the sum assured and added bonuses. This type of insurance would fall in the Insurance plus investment category. There are ULIP Endowment Assurance plans available in the market.

An Endowment Assurance Plan requires a larger outlay of funds as this also involves part of the money allocation towards investment. However a term plan is surely used as a tool for risk planning the an Endowment Assurance.

However for a certain segment of Investors who, An Endowment Assurance plans is a good option for Financial Planning. As the Premium allocation an investor gets a rebate under section 80 C and  the maturity proceeds are completely tax free u/s 10 (10D) of the income Tax Act.

We offer a careful analysis and comparative of the Endowment Insurance Plans. Submit your query related to Endowment Assurance Plan here.

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