Understanding Life Insurance: Endowment Dates Explained

Endowment life insurance is a unique type of life insurance that blends insurance protection with a savings plan. When you purchase an endowment insurance policy, you will select a maturity date, usually from five up to 30 years from the date the policy is active. You could also set a target date depending on your savings goals. If the insured person passes away before the maturity date of the policy, endowment life insurance pays a death benefit to the policy beneficiaries.

Endowment insurance is a type of life insurance that allows the policyholder to receive a lump sum payment or instalment payments if they outlive the policy

Endowment insurance is a type of life insurance that offers a combination of death benefit, savings and investment. It is a unique policy that blends insurance protection with a savings plan.

Endowment insurance policies are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits. Policyholders make regular premium payments throughout the policy term. These premiums contribute to their insurance coverage and a savings component that grows over time. If the policyholder outlives the policy term, they receive a lump sum payout, known as the maturity benefit. Some policies also insure additional risks, such as critical illness.

Endowment insurance differs significantly from term life insurance, which offers only death benefits without any maturity benefit. Term life insurance has lower premiums, but it does not provide the savings component that endowment policies offer.

Endowment insurance is a temporary type of life insurance

Endowment life insurance differs significantly from term life insurance, which offers only death benefits without any maturity benefit. While term life insurance has lower premiums, it does not provide the savings component that endowment policies offer. Endowment policies are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits. Some policies also insure additional risks, such as critical illness.

The value of an endowment policy varies with the underlying investments, but the mechanism by which growth is allocated varies. The sum insured remains payable on death or other insured events. Endowment life insurance offers a combination of death benefit, savings and investment. It shares similarities with term life and permanent life insurance, but also differs significantly.

Endowment life insurance is a unique policy that blends insurance protection with a savings plan

Endowment life insurance policies are long-term, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits. You make regular premium payments throughout the policy term. These premiums contribute to your insurance coverage and a savings component that grows over time. If you outlive the policy term, you receive a lump sum payout, known as the maturity benefit.

The sum insured remains payable on death or other insured events, such as critical illness. Policies are either traditional with-profits or unit-linked (including unitised with-profits funds). With both types of policy, the value varies with the underlying investments, but the growth is allocated differently.

Endowment insurance policies build a cash value over time, encouraging disciplined savings

Endowment life insurance is a unique policy that blends insurance protection with a savings plan. It offers a combination of death benefit, savings and investment. You make regular premium payments throughout the policy term, which contribute to your insurance coverage and a savings component that grows over time. If you outlive the policy term, you receive a lump sum payout, known as the maturity benefit.

Endowment insurance policies are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits. Some policies also insure additional risks, such as critical illness.

Endowment life insurance differs significantly from term life insurance, which offers only death benefits without any maturity benefit. While term life insurance has lower premiums, it does not provide the savings component that endowment policies offer.

Endowment policies are either traditional with-profits or unit-linked (including unitised with-profits funds). With both types of policy, the value varies with the underlying investments, but the growth is allocated differently. The sum insured remains payable on death or other insured events.

Endowment insurance pays a death benefit to the policy beneficiaries if the insured person passes away before the maturity date of the policy

Endowment insurance is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. It offers a combination of death benefit, savings and investment.

Endowment insurance policies are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits. Some policies also insure additional risks, such as critical illness.

Endowment insurance policies are either traditional with-profits or unit-linked (including unitised with-profits funds). With both types of policy, the value varies with the underlying investments, but the growth is allocated differently. The sum insured remains payable on death or other insured events.

Endowment life insurance differs significantly from term life insurance, which offers only death benefits without any maturity benefit. While term life insurance has lower premiums, it does not provide the savings component that endowment policies offer.

Frequently asked questions