Endowment policies are among the popular life insurance policies and considered to be one of the best savings plans by investors as it offers excellent growth on savings.
Endowment policies combine risk cover with financial savings, and are thus seen as an alternative for fixed deposits and other safe investments.
These plans are a good way of safely accumulating a lump sum corpus required at retirement.
The sum assured with other investment returns and benefits like bonuses is payable either at the end of specified number of years or upon the death of the insured person, whichever is earlier.
