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IndianMoney Complaints: Compare Endowment Plan, Review and Benefits | IndianMoney

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  • Published date: March 16, 2019
    • Bangalore, Karnataka, India

An endowment plan is a life insurance plan which offers the twin benefits of insurance and saving. If a policy holder dies within the term of the plan, the nominees get the sum assured and accrued bonus. On survival of the policy term, maturity benefits are paid. Salaried people avail Endowment Insurance Plans to save tax. You can avail endowment plans and enjoy a tax deduction up to Rs 1.5 Lakhs a year under Section 80C. These plans are heavily marketed by insurance agents, who earn high commissions by selling to professionals, doctors, lawyers and so on.

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