General insurance Endowment Assurance

[Mataracy]

This is the most popular at the present time. The sum assured is payable at the expiration of a certain period at earlier death.

Usually this policy is a combination of investment and life assurance protections. Short term endowment, for instance, can be affected for the education of the children while long term endowment is used for the dual purpose or providing for old age or augmenting pension and for the protection of the family interests. Premiums are paid yearly, half of the year, quarterly or monthly either throughout the term selected or for a shorter period. Apart from these benefits, there is usually income tax relief on the endowment policy.
Take a young man who effects an assurance to mature at his retirement age, is only providing for his family in the event of his early death, but he can also make a suitable provision for his own old age.

How did you see this type of policy?

 

[Mandy96]

This is actually a good type of insurance policy. I think most of the celebrities do buy this kind of insurance policy because it suits them better. They get to insured themselves and their properties. If we look at it well, it’s actually the best type of insurance policy that suits any celebrity.

 

[sincerem]

Looking at it, its simply promising with what you tabled about it. The endowment premium policy plan is better for both short term ams long term plan. Covering for potential uncertainty of the insured short term and long term is ideal. Those who go for long term reap benefits during their old age cos it will serve as pension to them, just as you've said.

 

[Lens1000]

This type of insurance sounds great and it's the best type of insurance because it covered investment and life . I will call this assurance a comprehensive insurance because of its features. Providing coverage for your investment and property sounds great and encouraging. I will like to inquire more on this type of insurance.