endowment plan

Endowment plans are all-rounders in the life insurance sector. They provide a financial cover and a vehicle to save & grow wealth. So, if you need a policy that gives you life insurance protection, maturity benefit and tax benefit in one package, buy an endowment plan. Some policies also give guaranteed additions i.e. every year, a set percentage of total premiums paid or Guaranteed Maturity benefit are added to your policy benefits depending on your policy term.