We will call you back.
Just share your number for a call back in less than 15 minutes
An Endowment Plan is a mix of both insurance and investment. It is a life insurance policy that provides the life cover to the insured by charging mortality cost and provide a return on investment through investing the remainder portion of the premium.The policy offers both death and maturity benefits (whichever happens earlier).Endowment policy helps you to accumulate adequate corpus along with providing financial protection in case of any unfortunate event to accomplish the financial goals in your life like child's education, marriage, post-retirement expenses, etc.Get Affordable Quotes
Following are some of the top reasons to buy an Endowment Plan.
There are two types of bonus payouts available under an endowment plan.
A bonus payout which is declared on an annual basis by the insurer and it depends on the performance of the insurer. This payout is added to the funds and payable at the maturity or death of the life insured.
A type of loyalty bonus that reflects the performance of a ‘With Profit’ endowment policy and is paid at the maturity or the death of the life insured.
Following are the factors that help calculate the premium amount for an endowment policy.
Following are the rider options to attach to your Endowment life insurance policy:
This rider ensures additional financial benefits to the nominee in case of death of the insured arising from an accident. The insurer pays the accidental death sum assured to the nominee, which is over & above the base sum assured of the policy.
This rider provides an additional death benefit to the nominee, which is additional to the base policy sum assured in the event of the death of the life insured.
This optional rider covers the medical costs incurred due to severe illnesses such as a Heart Attack, Cancer, and Major organ transplant, which may disable an individual that result in loss of earnings. Typically, the covered provided under this rider is the sum assured and paid additional to the sum assured in the base policy. The benefit under this rider is paid upon diagnosis of the illness.
This rider waives off all the future premiums in the event of death or disability of the life insured. The policy continues till its maturity. It enables the policyholder to enjoy benefits of the insurance policy, even when he/she cannot pay premiums.
By choosing this rider, the assigned nominee/family of the life insured is provided with the monthly income apart from the lump sum payout they get upon the death of the insured. The payout and other benefits are subject to the terms mentioned under the rider benefits.
This rider provides monthly income to the life insured in case of permanent or temporary total or partial disability arising due to an accident or illness. The payout differs and it depends on the kind of disability occurred.Select from Top Insurer's
Your endowment life insurance plan has the following exclusions.
It states that if the life insured commits suicide within the first year of the commencement of the policy, the insurance company is not bound to pay the policy proceeds.
This clause states that if the life insured dies while traveling in a private plane as a passenger, the insurance company is not liable to entertain the claim. The benefits of the policy are paid only when the life insured dies while traveling in a commercial plane crash.
It states that if the life insured dies due to the involvement in dangerous adventure activities such as river rafting, para-gliding, skiing, rock climbing, etc., the insurance company is not liable to pay the policy benefits.
This exclusion states that the insurer is not liable to pay if the life insured dies as a result of the war.