Suraksha ke saath bachat…
Tax Benefits as applicable
Sum assured Upto 10 times the annual premium
Premium payment for a limited duration
Rs. 1.5 Lakh
Rs. 5 Crore
Rs. 65.10 Lakhs
Endowment plans are insurance plans where you receive life insurance cover during the policy term and on maturity you receive the proceeds from the policy. Endowment Plans can be categorised under three broad categories.
A Guaranteed Endowment plan is a combination of life insurance and maturity benefits where all the benefits are guaranteed upfront. These savings plans are most suitable for those individuals who do not want to risk their investments through market-linked instruments.
In case of the policyholder’s death, the payout, along with guaranteed additions, if any, goes to the beneficiary.
Traditional Endowment Plans (Non Linked) are risk free savings and usually, guarantee payback. The Participating options are designed to grow steadily as bonuses are added. Usually bonuses, once added, can’t be taken away. But if you cash in your policy before the end of the term, entire accrued bonuses may not be available at the time of surrender.
ULIP’s, also is a type of endowment plan, on the other hand, are high risk investments. Growth depends on the performance of the funds you choose. By choosing diverse funds, you can weather the ups and downs of the market better.
A part of the premium paid by you is invested either on a with-profits basis or a unit-linked basis. You premium amount depends on your age, sex, and how long the endowment is for.
The size of the lump sum you get at the end of your endowment often depends on the performance of these investments.
This means your savings are pooled together and invested by the insurance company in various investment options, typically;
Endowment options are minimum risk investments and usually, guarantee payback. The investment with profit options are designed to grow steadily as bonuses are added. Usually bonuses, once added, can’t be taken away.
ULIP’s, also a type of endowment plan, on the other hand, are high risk investments. Growth depends on the performance of the funds you choose. By choosing diverse funds, you can weather the ups and downs of the market better.
For more details on the risk factors and the terms and conditions please read the sales brochure and/or sample policy document on our website carefully and/or consult our advisor before concluding the sale
Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits
* Terms and Conditions Apply