Description

An endowment is a type of life insurance where you make monthly or periodical payments and you get a guaranteed payout after a specified period of time, i.e. when the policy matures or in the  unfortunate event of your demise. Some endowments even pay out in the unfortunate event of your incapacitation or if you are diagnosed with a critical illness. Typical maturity periods for endowments are ten, fifteen or twenty years.

An Endowment with Profits policy is insurance that gives you a platform to grow your savings by making regular payments (premiums) over a specified period of time. An Endowment with Profits policy is suitable for anyone who wants to save up for a long term goal and wishes to have a disciplined way to do so.

An Endowment with Profits policy pays you a lump sum at the end of the term of the policy. There are no partial payments during the course of your policy term. It is also important to note that an endowment With Profits policy is essentially life insurance, which means that the Sum Assured and bonuses (both of which combined are known as maturity benefits) are payable to your nominated beneficiaries in the unfortunate event of your demise. Endowments grow your savings because the potential bonuses you gain are derived from the interest accrued from the investments made on your behalf by the insurer.

Main benefits attached to the plan:

• Life Insurance Cover.
• Profit participating this giving you a very high return on
• A disciplined way of saving as no ATM is given for the Account.
  5% tax relief from your contributions.
• Peace of mind knowing that your loved ones and future are secure.
• Professional Management.
• Immediate cash estate.
• Flexibility of monthly, quarterly, semi-annually or annual
• Permanent Disability & last expense can be extended in the policy.
• Policy re-date and reinstatement is considered when need arises.                                                                                                                                                                                                                                                                             NOTE: You get to choose the term of your investment and the sum assured and you will be advised on the cost.