Best Endowment Plans In 2024
Endowment plans are a life insurance policy that also offers the policyholder the opportunity to save money. The money saved in an endowment plan can be used for a variety of purposes, such as retirement planning or paying for children's education. There are a number of endowment plans available in India, so it can be difficult to choose the best one. While there are various endowment plans available, this article will focus on only the best endowment plans for 2024.
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Best Endowment Plan In 2024
When it comes to choosing the best endowment plan, there are a few things you need to keep in mind. The first is the amount of money you want to invest. Second is the time frame you're comfortable with and third is the returns you're expecting.
Here are a few of the best endowment plans in India for the year 2024:
- Bajaj Allianz Life Goal Assure: Guaranteed returns of 6% per annum for policies with a tenure of 10 years or more. The minimum investment amount is Rs.1,50,000 and the policy term can range from 10-20 years.
- HDFC Life Endowment Assurance Plan: This is a traditional endowment life insurance policy that offers guaranteed maturity benefits along with death benefits. The policy term ranges from 10-20 years and the minimum investment amount is Rs.50,000.
- ICICI Prudential Endowment Plan: This is another unit-linked insurance plan that offers guaranteed returns of 6% per annum for policies with a tenure of 10 years or more. The minimum investment amount is Rs.1 lakh and the policy term can range from 10-20 years.
- AXA Prudential Life Assurance Plan: This is a life insurance policy that offers guaranteed returns of 7.5% per annum for policies with a tenure of 10 years or more. The minimum investment amount is Rs.25,000 and the policy term can range from 10-20 years.
- SBI Life Insurance Fund: This is a traditional endowment life insurance policy that offers a guaranteed return of 8% per annum. The minimum investment amount is Rs.1 crore and the policy term can range from 10-20 years.
- HDFC Prudential Life Assurance Fund: This is a life insurance policy that offers guaranteed returns of 7.5% per annum for policies with a tenure of 10 years or more. The minimum investment amount is Rs.1 crore and the policy term can range from 10-20 years.
Factors to Consider While Choosing an Endowment Plan
There are a few factors that you should consider when choosing an endowment plan. Choosing the best endowment life insurance plan can be a difficult task. However, if you consider these factors, you will be able to choose a plan that meets your needs and budget.
- Reputation: First, you should consider the reputation of the insurance company. There are a number of reputable insurance companies in India, such as Life Insurance Corporation of India (LIC) and Bajaj Allianz. These companies have a good track record and will be able to provide you with the coverage you need.
- Benefits Included: Second, you should consider the benefits that the endowment plan offers. Some endowment plans offer death benefits, while others offer maturity benefits. You should choose a plan that offers the type of benefit you are looking for.
- Premium Range: Third, you should consider the premium you will have to pay for the plan. Endowment plans typically have higher premiums than other types of insurance plans. However, the premium you pay will depend on a number of factors, such as your age and the coverage you need.
Conclusion
In conclusion, we have compiled a list of the best endowment plans in India for 2024. We hope that this article will help you make an informed decision about which plan is best suited for your needs. Do remember to check out the features and benefits of each plan before making a final decision.
Also read: Learn The Differences Between ULIPs And Endowment Plans
