Description

An endowment plan is a special  savings plan that combines Investment with Protection. It provides you with a secure way to save and invest for your goals. Typical maturity periods for endowments vary.

An Endowment plan has two versions i.e. Endowment with Profits policy and an Anticipated Endowment plan.  Both versions give you a platform to grow your savings by making regular payments (premiums) over a specified period of time. An Endowment plan 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. An anticipated Endowment has 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.

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