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Term insurance cover or endownment policy

Which is the best - term insurance cover or endownment policy?
Asked by Abha Sharma | April 08, 2012 | Report this Report abuse
Replies (8)
Choice between Term Insurance and Endowment cannot be made as each of them has its own significance. Buy term plan to prepare yourself for an untimely demise and also endowment for future income generation or pension.
March 17, 2017 | Report this Report abuse
Term insurance policy is for a fixed period of time. After death your family will get the Benefits.You will not get any assured money.But the insured will get the assured money at the end of the term period in endowment policy.
October 06, 2014 | Report this Report abuse
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@Abha: I totally agree with Samir here! You can't compare the benefits of an insurance policy to an investment plan. There is no doubt term life insurance plan is far batter than any other life insurance plan in India, but it doesn't mean it is overcome any investment policy. Both are totally differ from each other. Better to take both, one for your investment and another for secure your future life.
March 25, 2014 | Report this Report abuse
When you use term "INSURANCE", it should be "TERM PLAN".
When you use term "INVESTMENT", it can be "ULIP" or "MONEYBACK" or "ENDOWMENT". There are many good avenues available for investments other than insureance.

PLZ PLZ DO NOT MIX INVESTMENT AND INSURANCE. Thanks!
June 21, 2013 | Report this Report abuse
Like bhimsen s trivedi, even I have taken up a term plan as I felt that getting a term plan will be more beneficial than getting an endowment plan. Yes, endowment plan gives you benefits as well but tem plan helps your family to get that security they need when something happens to you. So if you are financially stable then I think you should opt for a term plan as well.
May 15, 2013 | Report this Report abuse
Since I have opted for term insurance plan, I can give you information about the same. Recently, I purchased Birla Sun Life term insurance plan which provides financial backup to me and my family. Also, returns my money on survival till the end of the term. So, in my opinion this plan is more beneficial than other since you get your money back after end of the tenure.
January 06, 2013 | Report this Report abuse
I too agree with Ekshika, both have their individual benefits. If you want an investment + savings plan then go for endowment, and if you want to secure our loved one’s future financially then Term Insurance is the best plan to choose for. Are you planning to purchase one? I have also taken one from Future Generali. They have plans for both individuals and for a family. The best part is that you can apply online and it is faster and easier too. You don’t have to give medical test if your age is below 45 and want a policy lesser that 30 lacs.
September 12, 2012 | Report this Report abuse
Both policies have there own benefits and demerits. Endowment policy is good for proposers, who are looking for life cover and some return on investment after some period. Term Policy - Only provide risk cover, so no return after term is over. And the insurance cover is till the term of the policy.
April 16, 2012 | Report this Report abuse
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