This is for individuals who want insurance for themselves to save and also enjoy insurance protection. These plans that provide a specified amount whether the insured lives to the end of the term of the coverage or dies during that term. Each endowment plan specifies a date when the policy's face amount is paid if the insured is still living. If the insured dies before the maturity date, then the policy's face amount is paid to the beneficiary. Thus , a fixed benefit is received whether the insured survives before or to the maturity date of the policy. |