30 December 2023

Usefulness of Endowment Life Insurance

Usefulness of Endowment Life Insurance

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Endowment Life Insurance Plans provide you and your family with a financially secure future and the ability to face difficult situations in life. Today Indian society is changing very rapidly and in this rapid change, you need to remain Financially Strong and Stable.

In this article of Jeevan Bima Bazaar, we will know those aspects of Endowment Life Insurance which impact the life of every person. So that you can understand the needs, goals and possibilities of human life and know how Endowment Life Insurance Plans can help in all this?

For Children's Education:

Every parent tries to give good education to their children. But in India, good education means spending more money in the form of fees for children. It has been observed that the tuition fees of children in Government Educational Institutions are quite low. But the standard of work of teaching and learning in Government Educational Institutions is quite worrying.

The level of education in Private Educational Institutions is satisfactory, but due to the tuition fees being higher than required, it is not within the power of every parent to educate their children in Private Educational Institutions. Although a normal parent can somehow bear the burden of Education Expenses up to High School and Intermediate, but it is not in everyone's power to provide Higher Education or Professional Education.

If you want to provide Professional Education to your children, then Endowment Life Insurance Plans can prove beneficial for you. If your child age is low then you can buy a long term Endowment Life Insurance Policy. Because long term Endowment Life Insurance Policies have low premiums and good returns on maturity.

Endowment Life Insurance Plan also proves to be better for Children's Education because if you die before the maturity of the policy, then the death claim is paid from the Endowment Life Insurance Policy. The money received from this Death Claim can be used in the Education of Children.

For Marriage of Children:

In India, every parent tries to select a suitable house and groom for the marriage of their daughter. Along with this, every parent wants to make their daughter's marriage as grand as possible. Due to which a lot of money is spent in an Indian wedding.

If you are also the parent of a daughter, then you too would want to marry your daughter with pomp and show. If a person wants to marry his daughter today, he will need more money. But if you have enough time to get your daughter married, you can plan to arrange the money to do so.

With the help of Endowment Life Insurance Plans, you can plan to fund your daughter's wedding expenses. If the parents of a young girl plan to manage money for her marriage from an early age with the help of an Endowment Life Insurance Policy, they can buy a long term policy.

Long term Endowment Life Insurance Policies provide higher returns at maturity and reduce the premium burden on parents. If you buy an Endowment Life Insurance Policy for your daughter's marriage, doing so guarantees that you will have money for your Daughter's Marriage.

Because, if you survive, you get the maturity of this policy which you can use for your Daughter's Marriage. But if you die, the Death Claim is paid from this Endowment Life Insurance Policy. By using which the Daughter's Marriage can be done very comfortably.

Financial Security:

Endowment Life Insurance Plans can become a unique means of Financial Security for you. Let us understand this with an example. You are able to manage your family's food, clothing, house, children's education etc. with your earnings. Apart from this, you make various types of savings and investments and buy jewelery and property to meet various future needs of yourself and your family.

Just consider whether your earnings, your savings and other investments are really safe. You might think, "Yes, your savings and other investments are safe." But in reality it is not so. Imagine what would happen if you die and you are not around to tell your family where your savings or investments should be used?

Can you still say that your earnings, savings and other investments are safe? Do you still feel that your family will spend the money you have saved or made other investments where you wanted?

Just imagine, you have invested money in a property during your lifetime so that when you have to complete your child's higher education, you will sell this property and use the money received from it for the higher education expenses of the child. So, after your death, will your family use your property for this purpose?

After your death your family will face financial crisis. In such a situation, will your family not use the property invested by you to meet their current financial needs?

Endowment Life Insurance Plans guarantee that your savings and other investments will remain safe even after your death. Because Endowment Life Insurance Plans pay a Death Claim in the event of your death, your family can have a means of employment to meet their immediate needs.

Wealth Creation:

Every person wants to create wealth, property etc. for his/her next generation. Endowment Life Insurance Plans can help you meet such goals. Some types of Endowment Life Insurance have a provision with the help of which you can get the benefit of Risk Cover (Financial Assistance During Death) during the policy term.

But if you survive till the maturity of the policy, you get the maturity amount of the policy. But such Endowment Life Insurance Policies do not stop and there is no need to pay premium after maturity in these policies. But it provides you the benefit of lifetime risk cover.

Helpful in Crime Control:

Many such survey reports provide evidence that the root cause of most crimes is lack of money. Lack of education is also found to be a major reason behind many crimes. Endowment Life Insurance Plans prove helpful in controlling such crimes.

I want to clarify my point with an example.

A family whose head is fulfilling the daily needs of his family with his earnings and suddenly crashes. Both his property and savings are spent on his treatment. But despite this the chief dies.

The chief has taken some debt and after his death debtor start harassing the family members to get his money. Amidst these problems, another tragedy occurs in the family when the health of the head's younger child suddenly becomes very bad.

The cost of treatment is so high that it is beyond the capacity of this family. So the chief's wife tries to get more loans from the people, but fails. After this she asks for help from her relatives, but she does not get the help she needs. Due to which two types of crimes are born in this family.

First Offence:

Now the chief's wife is forced to get treatment for her younger child. Due to which she is forced to take up prostitution so that she can get treatment for her younger child and support her other children.

Second Offence:

In this difficult situation, some debtors keep harassing the family repeatedly to demand their loan, due to which the elder son of the head murders one of the debtors.

Many such incidents are seen in the society and this is just the beginning of a crime. In future, such people gradually sink into the mire of crime.

Endowment Life Insurance Plans do not allow such crimes to take place. Because if the head buys an Endowment Life Insurance Policy on his life as per his needs, then his family gets a huge amount from this policy after the death of the head.

The family can repay the loan with this amount and start a new job to meet their daily needs. Therefore, Endowment Life Insurance Plans prove to be indirectly helpful in preventing various types of crimes. It is beneficial for your family and also for your society.


I am sure that after reading this article, you must have understood the importance of Endowment Life Insurance. On one hand, these schemes help in fulfilling the needs of a person and his family and on the other hand, with its help, the family is able to live a Normal Life in an adverse environment.

So if you are planning to save, then you must also consider the aspects given in this article. But this information regarding Endowment Life Insurance does not end here, there are some more important things which you must know before buying this type of Life Insurance Plan.

To get further information on this topic, click on the "Next Page" button given below.

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