Endowment Plan

Endowment plan is a type of life insurance coverage which is applicable only for specified period. Like any other Life Insurance, here also you will get assured sum after maturity and in case of death of the policy holder the nominee will be benefited by the amount. In this plan the specified period will be ten, fifteen, twenty years or up to certain age limit for which you have agreed.

Endowment Plan= Insurance + Savings

Endowment Plan Is Ideal for you

If you are looking for a plan with the dual benefit of investment and insurance.
If you are looking for a long term investment and want to receive a lump sum amount at the end of some years or maturity.
If you like to pay your premium in short period and want to enjoy the benefits from the plan over the policy term.
If you are looking for an investment which is tax free then this is good option. As per section 80C of Income Tax Act you can enjoy tax benefit on the annual premium and as per section 10D death claim is completely tax-free.