Endowment Policies

These come attached as a component of a life insurance plan. The primary goal is to enhance the capital growth of regular premiums under a life insurance plan. Common forms include annuities and education policies. Maturity period varies with the client’s preference, mainly ten years, fifteen years, or twenty years subject to the specified age limit.

Endowment policies allow for early surrender or withdrawal from the policy contract. The surrender value depends on the insurer’s policy terms, how long the plan has been in force, and the total contributions deposited over the years.

A). Traditional With Profits Endowments.

The sum assured acts as a guaranteed face amount to be paid out periodically, say every 4 years, 5 years etc. (reversionary bonuses), and at the end of the policy term (terminal bonuses). It also increases through invested funds paid out as bonuses to the client as per the policy terms. Click here to get a quote for your child education policy.

B). Unit-linked Endowment Policies

Unit-linked endowments are investments where the premium is invested in units of a unitized insurance fund. Units are encashed to cover the cost of the life assurance. Policyholders can often choose which funds their premiums are invested in and in what proportion. Unit prices are published on a regular basis and the encashment value of the policy is the current value of the units. Click here to get a quote for unit linked policy.

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