Kotak Assured Savings Plan
A plan that offer guaranteed returns and financial protection for your family.
Kotak Guaranteed Savings Plan
A plan that offers long term savings and insurance in one premium.
Kotak Health Shield
Insurance against medical expenses related to heart, brain, liver and Cancer.
The confusion between Term Insurance Vs Endowment plans is very common. It is true that they both provide life covers, but there are many differences between term plan and endowment plan. They cater to different requirements depending on your specific needs. Let us have a look!
Simply put, term insurances are insurance covers that provide financial protection and security to your loved ones in the case of your sudden and unfortunate demise. Any kind of untoward incident or eventuality can cause a lot of emotional and financial stress - especially if you have a family with a higher number of dependents. This is why term insurance is important in such cases, as it provides a lump sum to your dependents, thereby securing their future and lifestyle.
What is an Endowment Life Insurance Policy? Endowment Plans have more to do with savings and are often referred to as a good investment tool. They allow you to invest your money in an organised way so that there are good returns in the future. Here are some of the features of these plans -
Knowing these basic differences between the two plans most definitely helps in making the right choice regarding which one will suit you and your family more. Financial experts are generally of the opinion that insurance plans should not be mixed with investment plans which is why term insurance is preferred over endowment plans. What matters most in the long run is being secure in terms of finances and family. It all depends on what your priorities are and how you act on them!
Ref. No. KLI/22-23/E-BB/999
Ref. No. KLI/22-23/E-BB/490
