Meaning
An endowment plan is a life insurance policy designed for both savings and protection, helping you achieve future financial goals.Definition
It’s a long-term investment that provides a lump sum upon maturity or to beneficiaries if the policyholder passes away during the term.How it Works
You pay regular premiums for a chosen term. If you survive, you receive the sum assured plus bonuses. In case of demise, your nominee gets the payout.Key Benefits
Offers financial security, encourages disciplined savings, and can include tax benefits.Author
