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Endowment Plans: Protection and Investment

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    Endowment Plans: Protection and Investment

    20 years a go I bought a 20 year endowment plan worth $10,000 which I paid for 10 years, and it will mature this year. It's a plan in which I would be covered by insurance for 20 years and on the 20th anniversary, my insurance coverage would stop and I would then get the coverage amount of $10,000. I totaled all the premiums I've paid for in 10 years and it totaled $7,200 and now I'm getting $10,000 so I just earned $2,800. We'll I think it's a little low but then again I was protected for 20 years, so I think it's a good deal. I really should have bought a bigger coverage then because considering everything endowment products pay better than banks plus it also covers a person with insurance.
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