Endowment plans are a type of insurance policy that combines life insurance cover with long-term savings. Here’s what you need to know about them:

1. What is an Endowment Plan?
   • An endowment plan provides both life insurance protection and a savings component.
   • It offers assured returns over the long term.
   • Policyholders contribute regular premiums to build a savings corpus for future financial goals
2. Key Features and Benefits:
   • Death Benefit: If the policyholder passes away during the policy term, the sum assured and any accumulated bonuses are paid to the nominee/beneficiary.
   • Survival Benefit: If the policyholder outlives the policy term, they receive the sum assured and accumulated bonuses from the insurer.
   • Flexible Premium Payment: Premiums can be paid monthly, quarterly, half-yearly, or annually.
   • Riders: Additional riders (such as total permanent disability or critical illness) can enhance the coverage
3. Why Choose an Endowment Plan?
   • Dual Benefits: Endowment plans offer both life cover and guaranteed returns.
   • Disciplined Savings: Regular contributions help build a savings fund over time.
   • Choice in Premium Frequency: Policyholders can choose their premium payment frequency.
   • Flexible Cover: Riders allow customization of coverage

Remember, endowment plans provide a balanced approach by securing your family’s financial future while helping you save for your goals. 🌟💼