What is an Endowment Policy?

An Endowment Policy is a combination of savings along with risk cover. These policies are specifically designed to accumulate wealth and at the same time cover your life. In simple words, these polices are issued for specific time periods during which you pay a regular premium. If you die during the tenure of the policy, your beneficiaries will receive the sum assured along with the accumulated bonus additions and if you outlive the policy tenure you will receive the sum assured along with accumulated bonus additions (if any).

For example, This is suitable for you if you want to accumulate capital for anticipated financial needs like buying an asset such as a home, providing for your old age, your children’s education, marriage, etc