Top Companies Offering Endowment Insurance In India

Endowment plans are emerging as a popular alternative among peer plans because of the umbrella protection they offer along with the benefit of building a savings corpus.

It is an optimal arrangement in the market as it comes compounded with protection assurance, development advantage and tax break. To save you time and effort comparing plans separately, we've put together a comparison of the endowment plans offered by India's major companies in this article.

Top Companies Offering Endowment Insurance In India

Following are some of the endowment plans offered by the best company in India

• Reliance Nippon Life’s Super Endowment Plan

It is a non-participating, non-linked, and non-variable endowment plan. This endowment plan by Reliance Nippon Life allows you to save for your future while also providing life insurance and safety for your family.

Best Plan Features

1. Savings 
2. Tax advantages
3. Flexibility to pay a reduced premium for half of the policy term 
4. Family protection

Entry Age : 8 Years- 60 Years

Age At Maturity: 22 Years - 75 Years

Sum Assured on Maturity: Rs. 1,00,000

• Kotak Premier Endowment Plan

Kotak Chief Enrichment Plan is a long term savings and insurance plan that furnishes monetary security to adapt to unfortunate situations alongside the capacity to save for your future monetary necessities. This arrangement ensures increments in the initial five strategy years and rewards begin building from sixth year onwards, this helps develop a corpus for your safe future.

Best Plan Features

1. Guaranteed Additions of 5% of the Basic Sum Assured per year for the first five years of the policy.
2. Bonus option from the 6th policy year onwards.
3. Convenience of choosing from numerous premium payment term.
4. Option to choose from a wide range of riders.

Entry Age: 18- 60 Years

Age At Maturity: 70 Years

Sum Assured on Maturity:  Depends on minimum premium chosen

• Tata AIA Life Insurance Fortune Guarantee Plus

The plan provides financial security for your family as well as Guaranteed Regular Income that meets tomorrow's needs, allowing you to plan for your future needs and providing protection for your loved ones

Best Plan Features

1. Flexibility to choose between two plan options: regular income or regular income with an inbuilt Critical Illness benefit.
2. Receive a premium refund at the end of the income period
3. Choice to receive income monthly or annually.
4. Select a joint life option under the single premium payment option.
5. Option to Premium Payment Term of your choice

Age of Entry: Depends on Plan options

Age At Maturity: Same as above

Sum Assured: Rs.24,000 ( Regular/ Limited Pay)

• SBI Life – Smart Bachat

SBI Life – Smart Bachat is a non-linked, participating life insurance savings product designed to help you avoid paying premiums over a lengthy period of time.

This plan offers a choice between Endowment and Endowment with in-built Accidental Death and Total Permanent Disability (AD&TPD) benefit. It is a suitable plan to secure your family's future.

Best Plan Features

1. Flexibility to choose from two options : Endowment option and endowment option will built in AD&TPD benefit
2. Premium payment and policy term flexibility iii. Premium waiver Benefit
3. Security through life insurance coverage even after the end of the premium payment term
4. Tax benefits based on current tax laws

Entry Age: Option A: 6 Years

Option B: 18 years to 50 Years

Age At Maturity: 65 years

Sum Assured On Maturity : Rs. 100,000( Minimum)

• HDFC Life Sampoorn Samridhi Plus

HDFC Life Sampoorn Samridhi Plus is a well-structured plan that allows you more control over your financial situation by balancing the two blocks of endowment plan: Savings and Protection.

Best Plan Features

1. Guaranteed annual additions of 3% to 5% of “Sum Assured on Maturity” for the first 5 years ( with bonuses, if any)
2. Option to extend insurance coverage up to 100 years of age
3. Accident Death Benefit
4. Tax benefits under Section 80C and Section 80D

Entry Age: 30 days- 60 years

Age At Maturity: 18- 75 Years

Sum Assured on Maturity:  Rs.65,463 (Minimum)

Take Away

 Endowment plans have been growing as an alternative due to the various benefits they offer. It is essentially this nature of the plan that ultimately makes it so rewarding for the investors.The above article will assist you in identifying your ideal plan based on this diverse range of comparison.

Also read 

Top 3 Riders In Endowment Insurance Plans

All About Riders In Endowment Insurance Plans

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.