Endowment Plans are an ideal choice for the risk-averse customer. Endowments are long-term, regular savings plans with a built-in life cover.
Provided you have paid all your premiums, at the end of the term the policyholder receives the sum assured plus accrued /guaranteed bonuses that have been declared over the years, as a lump sum. In case of the unfortunate death during the term of your plan, the sum assured, will be paid out as a lump sum with the bonuses that the policy is entitled to.
The benefits of Endowment Plans are as follows:
1)Available as money back plans also
2)Option to avail a host of additional rider benefits
3)Cover your life for a longer period of time
4)Loan facility can be availed against most of the plans.