DONOTCHANGE
The purpose of the Endowment Life Insurance, also known as term life insurance, is to cover the needs of protecting and saving life through a dowry, as it protects the insured during a specified period, in the end of the term cash or dowry, which is equal to the sum insured. The deadline for hiring and payment of the premium are identical. Invariably the term life insurance Company shall pay the sum insured to the insured or the beneficiaries. It is a combination of protection and savings needs satisfying and permanent (such as old age, retirement or retirement).
This plan is the most expensive by virtue of combining the protection and savings. The insurer must pay the insured amount agreed both in case of death, as if the insured comes alive at the end of the term (dowry). Duration: The contract with the Insured. Pure endowment; are similar to an investment, since the sum insured is paid hired only if the insured survives (i.e., not die) until the end of the term of the policy. Endowment Board; they are safe to combine protection with a savings and investment plan. That is, pay the insured amount committed in the event of death of the insured, and if they survive the end of the period.