Endowment Policy

50 %
50 %
Information about Endowment Policy

Published on March 27, 2014

Author: kirankurianphilip

Source: slideshare.net


Endowment policy

ENDOWMENT POLICY Presented by, Kiran Kurian Philip B.Com CA-2 Roll No : 13 Date : 26-03-2014

Introduction An Endowment policy is a life insurance to pay back a lump sum amount after a specified term (on its 'maturity') or on death of the policy holder. It provides a living benefit to the policyholder as periodic pay-outs along with insurance coverage.

Endowment Policy Endowment policy is a type of life insurance coverage in which, the insurer offers payment of sum assured to the policy holder or to his nominee or assignee or legal heirs either at the end of the specified period or on death of the assured before the specified period.

Types of Endowment policy 1. Pure endowment policy 2. Ordinary endowment policy 3. Joint life endowment policy 4. Double endowment policy 5. Fixed term endowment policy 6. Educational annuity plan 7. Money back policy 8. Marriage endowment policy

1. Pure Endowment policy In this policy the assured or his nominee gets only a specified sum of money on his death or on the maturity whichever is earlier. 2. Ordinary Endowment policy This policy represents Life insurance in true sense, but it is taken for a specified term of years. The sum assured is payable either on death or on its maturity. It is a combination of term and pure endowment. 3. Joint life Endowment policy This policy covers more than one life under a single policy. The sum assured is payable on the expiry of the term or on the death on one of the assured during the endowment period.

4. Double Endowment policy Under this policy, if the assured dies during the endowment period, basic sum assured is payable and if he survives the period double the sum assured is paid 5. Fixed term endowment policy In this policy sum assured is payable only at the end of stipulated period, the premium ceases if the death of policy holder occurs. Then policy becomes fully paid. 6. Educational annuity plan In this policy the assured amount is not paid in lump sum but is payable in equal instalments for 5 years.

7. Money back policy This policy is suitable for those who feel the need for lump sum benefits at periodical intervals. At the event of death within the period the full sum assured is payable without any deduction. 8. Marriage Endowment policy This provides funds for the marriage of the children. Premium is paid till death or for an agreed period. If the child dies during the tenure the assured is an option to substitute the name of another child as beneficiary

Merits And Demerits 1. Has dual benefit of investment and insurance. 2. Long term investment and receives a lump sum amount at the end. 3. Suitable if you require a lesser amount of sum assured. 1. The premium is relatively higher than a term plan. 2. The surrender value is lower than the premium paid. 3. If you wish to surrender this policy within first 3 years, you will not receive any surrender value. Demerits Merits

Conclusion Endowment policy is insurance policy where an assured sum is payable on the event of death of the policy holder on the expiry of the policy. An Endowment Plan allows you to save regularly, invest systematically, receive lump sum maturity amount and a periodic pay-out, all this while enjoying a life cover.

Thank you

Add a comment

Related presentations

Les changements sur le marché du distressed aux Etats-Unis et en Europe

Main Sections of the Report 1) Nifty Technical View 2) 4 Large Cap Trade Ide...

This presentation consits the yearly results of Kinepolis Group

Related pages

Endowment policies - Money Advice Service

Endowment policies. An endowment policy is an investment product that you buy from a life assurance company. They are set up as regular savings plans and ...
Read more

dict.cc | endowment policy | Wörterbuch Englisch-Deutsch

Übersetzung für endowment policy im Englisch-Deutsch-Wörterbuch dict.cc.
Read more

Endowment Policy: Compare Endowment Plan Online & Buy

Endowment Policy: compare & calculate insurance premium of endowment plans. Know reviews, benefits & risk involved in endowment policy & Buy online.
Read more

dict.cc | endowments | Wörterbuch Englisch-Deutsch

endowment policy endowment with capital endowment with meaning • endowments endows endoxidation endozoic endozoochorous endozoochory endpaper endpin endpoint
Read more

Endowment Policy | Compare Endowment Policies And Save Money

Best endowment policy at discounted rate. Compare UK endowment policies online and save more money.
Read more

What is endowment insurance? definition and meaning ...

Life insurance policy that pays the assured sum (face amount) on a fixed date or upon the death of the insured, whichever comes earlier. Endowment policies ...
Read more

Traded Endowment Policie – Wikipedia

TEPs (Traded Endowment Policies) sind britische Lebensversicherungen im Zweitmarkt. TEPs gibt es bereits seit über 150 Jahren. Dieser Zweitmarkt wird von ...
Read more

Endowment vs Whole Life Insurance - Difference and ...

Endowment vs Whole Life Insurance comparison. Endowments and whole life policies are two different types of permanent life insurance. Both accumulate cash ...
Read more

Endowment-Effekt – Wikipedia

Der Endowment-Effekt (englisch für Besitztumseffekt) ist eine Hypothese aus der Verhaltensökonomik. Sie besagt, dass Menschen dazu tendieren, ein Gut ...
Read more