An Endowment Life Insurance typically combines a term life insurance with a saving program.
Our Endowment Plans guarantee a lump sum benefit after a specific period (on maturity) or in instalments at fixed intervals throughout the life of the plan. Each Plan offers a risk-free saving program with a guaranteed return and is an ideal savings mechanism to fund your child’s future college or university education.
If death occurs during the life of the policy, your beneficiaries receive the full Sum Assured regardless of whether installments were paid. This feature is not available for our Educational Endowment, Non-Participating Plan.
You have the added flexibility of customising your Endowment Plan by purchasing the following add-ons known as riders.
- Total Disability
- Accidental Death and Dismemberment
Endowment 4-Payment, Participating Plan
4 cash payouts every 5 years for 20 years up to the maximum of the Sum Assured
Dividends paid at maturity
Endowment 5-Payment, Non-Participating Plan
5 cash payouts every 3 years for 15 years up to the maximum of the Sum Assured
Educational Endowment, Non-Participating Plan
Our Education Endowment is available for children up to the age of 14 years. Payments of 20% of the Sum Assured are made at the anniversary of the policy once the child attains the age of 17 years and continues until the age of 21 years provided the policy remains in force.