Student ( Makhan Lal Chaturvedi University ,Bhopal) | Posted on 11-Sep-2018 | Share-Market-Finance

What is Endowment Insurance Plan?

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News reporter (CEN News ) | Posted on 11-Sep-2018

Everything that is on people’s mind these days is related to money, directly or indirectly. And the most common complaint of those who earn money the whole month, is that they are unable to save anything at the end of the month.

If this happens with you too, you should think about taking Endowment Insurance Plan. This insurance would definitely help you increase your savings. These savings then can be used by you for any of the major expense you might face in your future.

Endowment Insurance Plan is the life insurance policy which covers your expenses for life, and also helps you in savings. This insures you a fixed amount at the right time. The major expenses like marriage, education, etc.

In this insurance plan, the insured puts money for a fixed amount of time, and on completion of the period of time, the insurance company gives the insured the full amount of insurance along with interest. If for some reason the insured dies in the middle of the case, the nominee gets the full amount of money.

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jhon paul

Analyst | Posted on 31-Jul-2019

yes It is really helpful topic that you have shared about endowment insurance. Mainly this insurance policy is a type of lifeinsurance is a contract design to pay a lump sum after a specific term on its maturity .or in death. And typically maturities are ten twenty fifteen up to certain years of age limit. And endowment policy regular savings will helps more beneficial.

1)want to save for a particular event or goal over the long term, usually at least ten years

2)understand that the value of your investment can go down as well as up

3) Haveto receive a non-guaranteed lump sum at the end of your investment term

And this policies use regular savings plan

general investment.
a specific savings goal.

you make monthly or annual payments.

Part of your monthly payment is used to buy life assurance. How much depends on your age, sex, and how long the endowment is for.

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