What is Endowment Plan or Savings Plan?

There’s no fixed time to buy an endowment or moneyback plan. However, the sooner you buy, the better it is as it gives more time to your money to grow and helps you build a bigger corpus, enabling disciplined savings in the process.

Yes, you can. In this case, you can buy the policy to fund the future education expenses of your child & plan a grand wedding for him/her. Also, your child (once major) would receive the pay-out in case of your death during the policy term.

Yes, you can. However, for your policy to acquire a surrender value, you need to have paid premiums of at least two years.

To buy endowment or moneyback policy online, visit the website of your insurer, fill up the proposal form with all relevant details along with the required documents and pay online. The soft copy of the policy will be sent to your registered email id.

Yes, there are tax benefits on endowment or moneyback plans. The premiums paid qualify for tax exemption under section 80C, while the maturity or death benefit pay-out qualify for tax exemption under section 10(10D) subject to changes in the tax laws.

The best endowment or moneyback policy is one which helps you save in a disciplined manner to accumulate a corpus for essential life goals, along with providing an adequate financial cushion to your dependents in your absence. It should be flexible in terms of premium payment and pay-outs along with guaranteed additions. Explore our endowment or moneyback policies

Working of an endowment or moneyback plan is simple. A part of the premium paid goes towards paying life cover while the other half is invested in safe avenues to generate returns.

Definitely it is. It not only helps you to save in a disciplined manner for important life goals but also gives your family a financial protection in your absence.