What Is The Maximum Age To Buy Cover In Endowment Insurance?

Endowment Insurance plans are offered by several reputable companies with varying primary features and terms of exclusion. While the basic nature of an endowment plan remains the same, companies weave their plan around it, adding perks, to make it more compatible with investors' different needs.

In this article, we have compiled a list of  endowment plans with different maximum ages for buying the policy.

Endowment Plans With Different Maximum Entry Age

Below we have listed different endowment plans with their respective maximum entry age -

• HDFC Life Sampoorn Samridhi Plus

HDFC Life Sampoorn Samridhi Plus is a non linked ‘with profit’ life insurance plan. It combines the elements of Savings and protection to help you exercise more control over your finances.

Maximum Age Of Entry: 60 years

• Kotak Classic Endowment Plan

Kotak Classic Endowment Plan is a long term protection cum savings plan that provides coverage while also accumulating bonuses throughout the policy term. It is a profitable plan and is well liked by the investors.

Maximum Age Of Entry: 55 Years, 60 Years ( For Regular Pay and Limited Pay respectively)

• ICICI Pru Savings Suraksha

It is a participating life insurance plan. ICICI Pru Savings Suraksha is a savings and protection-oriented plan that is considered a prudent choice for the investor. It provides enough flexibility to the investor to empower their decision to choose a premium payment plan that fits well within their financial needs.

Maximum Age Of Entry: 60 Years

• Aegon Life Premier Endowment Insurance Plan

This is a Participating Life Insurance Plan.

Aegon Life's Premier Endowment will provide a protection plan which will give an extra boost to your savings.This plan also gives you 5% guaranteed additions on Sum Assured during the Premium Payment Term. 

Maximum Age Of Entry: 55 years

• Birla Sun Life Insurance Vision Endowment Plan

It is a traditional participating life insurance plan. The BSLI Vision Endowment Plan offers the potential for bonus accumulation. This plan gives you the combined benefits of the refund of premium and accumulated bonuses at maturity, making it an extremely profitable plan in the long term.

Maximum Age Of Entry: 55 years

Take Away

The maximum age to apply for an insurance cover under endowment plans revolve around the ages from 55 to 60. As proved from the above examples, endowment plans are offered for a wide range of people, starting from the minimum entry age of five or even less. 

The above article will familiarise you with the prevalent maximum ages for Insurance cover under endowment plans.

Also read 

What Is The Maturity Benefit In Endowment Plan?

Does It Make Sense To Surrender An Endowment Policy?

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.