Investment Plan Compare
Endowment Plans protects the policyholder for a certain time span. It means insured has the option to cover himself till he wants to be covered. The nominee gets the sum assured and the bonus, if any, in case of policyholder’s death during the policy period. Customers should know that bonus is given for the specific number of years the plan was active.
At the time of policy maturity, the policyholder gets the sum assured and the bonus for the policy term, if any. Once the policy expired, the policyholder is not insured by the plan. Generally, endowment plans are mainly differentiated into two segments, such as endowment-with profit and endowment- without profit.
Endowment with profit policies are known as term plans which gives the nominee the sum assured only, upon insured’s death. Under endowment with profit plans, the nominee gets sum assured and bonus for certain years the plan was active in case of insured’s demise.
In case of insured’s survival till the policy matures, policyholder get sum assured and bonus for the policy period. It guarantees a sum of money will be offered to you or your nominees whether you live until the plan matures or you expire within the policy period. Policyholders should know that bonuses under the plan are not guaranteed.
Benefits of Endowment Plans Online
Low risk policies, providing guaranteed returns to the insured
In case of insured’s death, the nominee receives the assured amount
Protects the future of family, gives strong financial support
Provides guaranteed returns, as these products are not linked to market
Allows the insured to select from various additional riders like accident permanent, complete or partial disability benefit, accidental death benefit, critical illness benefit, family income benefit, hospital cash benefit, waiver of premium benefit, as per insured’s needs.
Gives tax benefits based on the prevailing tax laws. The assured sum received by the policyholder is tax free.
1. Additional Bonus
Bonus is an additional amount of money which is given to an insured by an insurer and insurance companies in India announce different types of bonuses. These bonuses are classified as
2. Terminal Bonuses
A discretional additional amount added to payments given on the policy maturity or on the insured’s death.
3. Reversionary Bonus
Extra amount added to the payable money on maturity of with-profit policy or on death. Once this bonus has been availed, it cannot be withdrawn even if the plan matures or on the death of the policyholder.
4. Maturity Benefits
On surviving the policy period or on policy maturity, the policyholder gets sum assured and bonus for the policy term. The receivable amount upon maturity is tax-free.
5. Rider Benefits
• Accidental Permanent Total/ Partial Disability Benefit
• Accidental Death Benefit
• Waiver of premium Benefit
• Family Income Benefit
• Hospital cash Benefit
• Critical Illness Benefit
6. Suitable for
This plan is designed for people of all ages who want to secure their families financially that may occur owing to their demise. If the assured amount is not paid due to reason of insured’s death will be payable at the end of maturity period where this money can be invested in an annuity provision for the rest of the insured’s life or in any other way policyholder may think most appropriate at that time.
At PolicyBoss, we will help our customers to choose the best endowment policy online with the affordable premium. Compare premiums, features and benefits of different plans online and then make take a fruitful decision. Policyboss.com does online comparison for you at no cost and provides you suitable
Insurance Quotes. Customers must know that our comparison is completely unbiased.