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What are Endowment Insurance?

An endowment plan, also known as a savings plan, is a type of insurance that allows you to earn additional interest due to the endowment plan fund pool investing in underlying funds and assets. Endowment plans will enable you to save up in the far future by locking up your savings in the plan until the end of the policy term or a stipulated period (usually a decade or longer), as well as providing insurance benefits for you.

There are two forms of returns: guaranteed and non-guaranteed. For guaranteed returns, the insurer is obligated to pay you at the end of the endowment policy term. Non-guaranteed returns are bonuses the insurer would pay off when the underlying asset performance goes well. To find out more about endowment terms specifically, click here.

As it is possible that guaranteed returns on your policy maturity can be lower than the total sum of the premiums you paid throughout the policy term, some plans provide a 100% capital guarantee to provide you with peace of mind that you won’t enter a financial loss.

While endowment policies may provide great returns, they are not without risks. First, they require long-term commitment as many plans come with terms between 10 and 25 years. If you choose to surrender your policy early, you may lose some or all the premiums you paid. Furthermore, your returns depend on the insurer's fund; if the fund performs poorly, that will be reflected in your sum assured.

To know more about which endowment insurance plan suits you, please fill in your information in the quotation above.