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Endowment life insurance is an insurance product that can double up as a regular savings plan. This can then be used, for example, to send a child to college or University. An endowment policy is set up as a regular savings plan, and at the end of a set period it will pay out a lump sum. The policy incorporates life insurance, so in the event that the policyholder dies in the meantime, the policy will pay out on death.

If you choose an endowment plan, you will have the flexibility to choose your monthly premium and the period the policy must cover. You can work out the monthly premium you want to pay, based on how much cash you will eventually need.



An endowment plan or policy could be beneficial for you if you are looking to save up, with a particular event or goal in mind. This could be your child’s education, a wedding, or a plan for property investment. An endowment plan is particularly useful for those who can commit to saving over a period of ten years or more, and who understand that the value of your investment may go down as well as up.

An endowment plan also comes as a risk-free solution which can come with a promise of guaranteed return on a guaranteed date. The endowment plan means that the cash sum will be realized even if you pass away before the policy is due to end.

An endowment plan offers you the added security of term life insurance with a savings program. If you are concerned about not being around for a dependent in the future, this policy will pay out to your beneficiary when you die, as long as the policy is still within term and has not lapsed.

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