An endowment plan is a life insurance plan that offers a life cover and helps you grow your money. It provides returns that are fixed at the time of the purchase of the policy. It can be used to save for various goals like buying a house, your child’s education or marriage starting a new venture and more.

An endowment policy provides a guaranteed  maturity benefit if the policyholder survives the policy term. It also offers a guaranteed  death benefit in case of an untoward incident during the policy term.