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Endowment
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7:29
Study.com
Endowment Life Insurance Policy | Definition, Types & Benefits
Learn what an endowment policy is via an overview and example. Understand the benefits of endowment insurance. Read about types of endowment life insurance.
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1. What is the Double Cover Endowment Plan? The Double Cover Endowment Plan is a value-added endowment policy that offers double the Sum Assured in the event of the policyholder’s death, along with the usual maturity benefits provided by an endowment plan. It also includes yearly bonuses that enhance the total value of the policy over time. 2. Who is eligible to purchase this policy? Anyone between the ages of 18 and 55 can purchase this policy, provided that the age at maturity does not exceed
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