Endowment Plans
An endowment plan pays out a guaranteed sum, plus any declared bonuses, either if the policyholder passes away during the term or when the policy matures — whichever comes first. Unlike term insurance, there's always a payout as long as premiums are paid, which is the trade-off for a higher premium than pure protection.
Because the guaranteed portion is set by the insurer rather than the market, endowment plans suit savers who prioritize certainty over the potentially higher (but variable) returns of a market-linked option like a ULIP or mutual fund.
Who this is typically for
Insurance is the subject matter of solicitation. Benefits, exclusions, and payouts are subject to the terms and conditions of the specific policy — we'll walk you through the exact wording before you sign anything.