An endowment plan is essentially a life insurance policy. It provides a combination of an insurance cover and a savings plan. It helps you save regularly over a specific period of time so that you can get a lump sum amount on the policy maturity. Since it also includes life insurance, it will also payout if you pass away during the term.
With a good endowment plan, you are provided with the confidence and tax-free returns to meet emergencies in the future. It will also enable you to meet your non-negotiable life goals, such as meeting your children’s education expenses or allow yourself to live a worry-free life during your retirement years. If you, unfortunately, passed away during the policy term, the money will be given to a beneficiary. Therefore, an endowment plan gives you and your family financial security.
Below are two of the most popular life insurances in the market right now, both of which are better suited for increased financial security.
Life insurance will help you save for retirement and disburse funds that are tax-free, as well as expand into a tax-advantaged way to disburse funds later in life. Despite the high cost of premiums, the use of life insurance policies to prepare for retirement can help everyone.
Family life insurance protects your family not only from the high costs of an unexpected death, but also from the costs of a funeral, an outstanding mortgage, unpaid student loan debt, missed income, and future college savings.
We understand that choosing life insurance is not an easy task. That’s why we’re here to provide one-stop convenience for all your insurance needs. Experience the quick and cost-effective process by bringing your coverage within one place as we compare and shop the market for you.
We know that no two clients are the same, so we allow you to design and customise your own insurance plan to meet your specific requirements as much as possible. And as your life change, we are also ready to advise you on the changes to policies and coverage for your next policy.
Save for Rainy Days
Unexpected events can occur in life, causing you uncertainty and causing you to spend money you don’t have. If you start investing and saving now, you will always be prepared.
Invest In your Goals
You should start saving now to achieve your financial goals or to fund your children’s education, whatever your long-term objectives are.
Financial Protection for Your Loved Ones
With endowment plans, you can combine your investment strategy with various insurance tools to ensure that your loved ones have the financial security they need.
An endowment plan offers numerous benefits for you and your family. You should consider getting this plan if:
– You want to save for a particular goal over the long term and get tax benefits.
– You are looking for a low-risk plan with dual benefits of insurance and investment.
– You want zero risks in investment.
– You want lump sum pay out for your long-term goals.