Endowment and Whole Life Insurance plan

OK So here again I came penning down to explain you all some of the good and nice Insurance plans. Many People got stuck between endowment and whole life insurance plan so i thought i should write something about it so here it goes..

Endowment plans: The Endowment Plans are basically saving plans which offer Insurance against the Insured’s death during the term of the plan, simultaneously acting as a saving tool. Unlike Term Plans which don’t offer maturity benefits Endowment Plans provide benefits when the policy expires. In the case of the Insured’s death his family receives the sum assured/stipulated coverage along with the accumulated profits/bonus. When the Insured survives the term period he receives the life coverage plus the profits & bonuses.

Following are the Endowment Insurance Plans

HDFC-Standard Life - Endowment Assurance Plan
Met Life - Met Suvidha
Aviva Life Insurance - Life Saver
TATA-AIG Life Insurance - Assure Golden Years Plans
Max-New York Life Insurance - Life Gain
LIC – Jeevan Anand
Kotak Life - Endowment Plan
SBI Life - SBI Life Sudarshan
ICICI-Prudential - Save n Protect

Whole Life Insurance : The Whole Life Insurance Plans are Permanent Insurance Plans which run as long as the Policy Holder is alive. The Insured pays the premium amount throughout his life time. The beneficiary of the policy receives the coverage amount plus the interest & accumulated bonus only at the time of Insured’s death.

Following are the Whole-Life Insurance Plans
HDFC-Standard Life - Single Premium Whole Life Plan
Met Life - Met 100- Limited Pay Whole life
Aviva Life Insurance - Life Long
TATA-AIG Life Insurance -
Max-New York Life Insurance - Whole Life Participating
LIC – Jeevan Tarang
Kotak Life - Eternal Life Plan


Hope you liked this extract