Future

Investment-linked insurance plans combine life insurance coverage with investment options. Premiums paid go partly towards life coverage and partly into investment funds of your choice, which has the potential to grow over time, subjected to the performance of these funds.

Endowment plans are savings-oriented life insurance policies with a specific maturity date. They offer a lump sum payment either at the end of the policy term or upon the death of the insured, providing both savings and life coverage. Unlike investment-linked plans, they usually offer guaranteed cash payments.

Yes, you can select from a range of funds that vary in terms of risk and growth potential. Your choice should align with your investment goals, risk appetite, and time horizon.

Endowment plans often provide guaranteed cash payment, but this can vary depending on the policy terms. Some endowment plans may offer non-guaranteed bonuses in addition to the guaranteed sum.

Endowment plans are often used as a tool for retirement planning as they offer a lump sum amount at maturity, which can be a significant contribution to retirement savings.

The life insurance component in an investment-linked plan provides financial protection to your beneficiaries in the event of your untimely death.

Before selecting an endowment plan for education savings, consider factors like the duration of the plan (to align with your child's education timeline), the guaranteed and non-guaranteed benefits, premium payment terms, and flexibility in case of changing financial circumstances.