Endowment insurance policies are different when compared with other insurance policies. This policy does not primarily operate to provide life insurance benefits. On the contrary the main objective of an endowment policy lies in offering monetary benefits during the life term of the individual. Life insurance protection comes only after that. Therefore, it is more of an investment than a whole life policy. Endowment life insurance pays the face value of the policy either at the insured’s death or at a certain age or after a number of years of premium payment.

(Source:lifecoverpro)

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