Top 5 Endowment Plans to secure your familys future

Life insurance has been known to fulfil various requirements of every individual. For some it serves as a means to provide for financial security in the future, for some it is a tool of income protection in case of untimely death and for most of the individuals, it is a means to escape from the clutches of taxation. As such, the real purpose of a life insurance policy loses its appeal. A life insurance policy provides financial protection against premature death.

Returns as high
as 7.1%^##

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7.7 Crore

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4.2 Crore

Policies Sold

Disclaimer: *The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.

Since, this purpose of a life insurance policy was not endorsed by many; insurers launched hybrid plans which provided wealth creation along with insurance protection. Endowment plans are such plans which not only provide life insurance protection to the individual but also provide the medium for investment and financial growth. These plans come with a varying tenure which may be as low as 5 years or as high as 30 years. These are also called traditional or conventional insurance plans and they provide a fixed benefit to the policyholder both in the case of death and in case of maturity.

With hundreds of Endowment plans offered by numerous companies, the common investor feels stumped as to which would be the best suited plan. He searches for the plan which would have a suitable tenure, lower premiums, greater benefits and higher returns. To solve the dilemma of such investors, here is a list of the top 5 endowment plans of some leading insurers which promise attractive benefits. So, let’s analyze:

Below is a comparative analysis of the plans in details. Here are some other plans which are not mentioned above.

Plan Names	Plan Term	Policy Premium Term	Guaranteed Loyalty Additions	Bonus	Features	Rebates and Discounts
Aegon Life Premier Endowment Insurance Plan	10, 15 or 20 years	Single, 5, 10, 15 or 29 years	Guaranteed additions of 5% of Sum Assured to be included in your arrangement toward the finish of each Policy year for the whole Premium Payment Term (5 years for Single premium). The amassed Guaranteed incorporations will be remunerated out alongside the Sum Assured upon Policy Maturity or Demise of the Life Assured, whatever is prior	Simple reversionary bonus and terminal bonus on the premise of the experience	Matching your savings requirement, the option to choose the policy term Lumpsum payout at the time of maturity Flexibility in terms of the premium payment Rise in the benefit amount each year through bonus accrual its inception year	Not Applicable
Bajaj Allianz Elite Assure	15 to 30 years	Regular pay or 7/10 years	3% to 15% of the Guaranteed Maturity Benefit is paid from the end of the 10th policy year	Reversionary bonus, interim and terminal bonus.	The option of five additional riders Frequency of premium payment can be changed anytime	Premium rebates for choosing Guaranteed Maturity Benefit of Rs.5 lakhs and above
HDFC Life SampoornaSamriddhi Plus Plan	15 to 30 years or 100 years – age (for whole life option)	Plan term less 5 years	Up to 5% of the Sum Assured on maturity for the first 5 years	Simple reversionary bonus, interim and terminal bonus from first year onwards	Inbuilt Accidental Death Benefit Rider, which pays additional Sum Assured on accidental death	Premium rebates for choosing coverage levels of Rs.1.5 lakhs and above
IndiaFirst Simple Benefit Plan	15 to 25 years	Equivalent to the policy term	Guaranteed maturity sum assured along with simple reversionary bonus and terminal bonus if any will be paid towards ending policy period	Simple reversionary bonus and terminal bonus	Avail a loan of up to 90% of the surrender value Regular contribution on the premise of one’s income and requirements helps you to build a savings corpus Flexibility to choose when on would ideally need the insured amount Tax benefit may be availed depending upon the premium amount paid and benefits obtained as per the existing laws	Rebate in ay form si forbidden
Kotak Classic Endowment Plan	15 to 30 years	Regular Pay- Equivalent to the Policy Term Limited Pay- 7-years for policy term 15 yearsPolicy term less 5 years	Depending upon the premium payment term chosen and premiums paid, guaranteed surrender value is acquired in the policy	Availability of simple reversionary bonus, terminal bonus and interim bonus	Provides thorough protection up to an age of 75 years Depending upon the affordability, flexibility to pay the premium amount From the beginning year of the policy, the bonus can be earned Enhance the policy with rider options available As per the convenience, option to opt from an array of term options	Obtain a premium discount for sum assured upon the maturity of Rs. 5,00,000 and more
LIC’s Jeevan Rakshak Plan	10 to 20 years	Equal to plan term	Loyalty additions payable after 5 completed policy years	Vested bonus and a final additional bonus is paid	LIC’s Accident Benefit Rider can be availed by paying an additional premium	Modal rebate for yearly and half-yearly premium payment @ 2% and 1% respectively. High Sum Assured rebate in premium for levels equal to and exceeding Rs.1.5 lakh
Max Life Life Gain Premier Plan	15 to 25 years	6, 8, 10 or 12 years	Not Applicable	Bonus is declared from the 2nd policy year and can be taken in cash, used to reduce the subsequent premium or used to increase the Sum Assured which would earn future bonuses. A Terminal Bonus is also paid	The bonus, if used to enhance the Sum Assured can also be withdrawn for emergency use The plan has an inbuilt Terminal Illness benefit wherein 50% of the Guaranteed Maturity Benefit is paid on request if the insured suffers from any terminal illness	Not Applicable
PNB MetLife Bachat Yojana	15 years	10 years Limited Pay	The Minimum ensured Sum Assured on maturity (which is equivalent to the Base Sum Assured) increased by the proportion of the number of Portion premiums paid to the complete number of Installment premiums payable will be payable.	Accessibility of simple reversionary bonus and terminal bonus	One needs to pay only for 10 years and obtain a cover for 15 years Helps in building a long-haul saving at pocket-friendly premiums Income tax benefit can be availed on the paid premium	Discount can be implied in case of accrued simple revisionary bonus
Pramerica Life Roz Sanchay	16 to 21 years	12 years for a 16-year policy term16 years for a 21-year policy term	With the initiation of the policy, there is a guaranteed maturity benefit wherein 150% of the base sum assured with an accrued annual guaranteed addition becomes payable at the time of maturity	Offers guaranteed bonus additions	Allows one to create a saving corpus for old age Option to take a loan against the policy Comprehensive cover with enhanced protection Death benefit goes up by 5% of the base sum assured year each year	Not Applicable
Reliance Life Lifelong Savings	15-30 years	Age at Entry (7 to 50 years) Regular Pay- 15-30 yearsLimited Pay- 10 years Age at Entry (51 to 55 years) Regular Pay- Not ApplicableLimited Pay: 10 years	At a rate of 4% per annum, the guaranteed additions will be calculated towards the end of every policy tenure in regards to the base sum assured in the initial five years of the policy in case of active policy	In case of survival, towards the end of the policy tenure, one will be able to receive the base sum assured along with terminal and vested revisionary bonus	Avail flexible cover alternatives The facility of loan is accessible during the policy tenure in case of any adverse situations Option to opt premium payment frequency	When reaching the final rate of premium then the first high sum assured discount will be implied
SBI Life Smart Humsafar	10-30 years	The premium paying term will be equivalent to the policy term	At the commencement of the policy, opted by the insured the basic sum assured is the absolute amount of benefit and will be payable at the time of maturity	For the active policy, a guaranteed minimum bonus for initial three years of 2.50% of the basic sum assured	A joint product, which offers coverage to the insured and the spouse One applicant for both Flexibility to choose the policy term and avail rider benefits	Discount can be availed on the premise of premium per thousand basic sum assured. Besides, a staff discount is also accessible for the employee of the bank
Single Pay Endowment Assurance Plan	10 to 15 years	Single Pay	Sum assured on the death and maturity will be available	Not Applicable	Avail different types of rider benefits such as accidental death benefit rider, critical illness rider, income benefit rider and accidental total and permanent disability rider During the policy tenure, the policy can be surrendered Once the policy acquires surrender value, policy loan can be availed	Not Applicable
Star Union Da-ichi's Life Jeevan Ashray	15 to 20 years	Equivalent to the policy term	Guaranteed maturity benefit within 15-year policy term will be 115% of the basic sum assured and within 20-year policy it will be 120% of the basic sum assured	Not Applicable	Get an assured benefit for the family Comprehensive protection for the family at affordable premiums Avail income tax benefits on the premiums paid and benefits obtained	Not Applicable
Tata AIA Life Insurance Maha Life Gold Plan	85 years – entry age	15 years	Guaranteed Annual Coupons up to 6.5% payable from 11th year till 30th years cash dividends paid from 6th year	Not Applicable	The Sum Assured increases after every 15 years till the 45th policy year	Not Applicable

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Disclaimer: †† Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is done in alphabetical order (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

* Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy male of 18 years old paying Rs. 30,000/- monthly (exclusive of all applicable taxes)

** Fixed deposit rate applicable for 5 year's 1 day to 10 years for investment amount less< 2 Crore ( Not for senior citizens).

*** PPF interest rate applicable for 15 years for investment amount upto 1.5 Lac

+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023

#Discount offered by insurance company

## The Guaranteed Returns are dependent on the policy term and premium term availed along with the other variable factors. 7.1% rate of return is for an 18 years old, healthy male for a policy term of 20 years and premium term of 10 years with Rs.10,000 monthly installment premium. All plans listed here are of insurance companies’ funds.

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Top 5 Endowment Plans to secure your familys future

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