Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin
Hurry Up!
Save upto ₹54,600 in taxes under 80C & 80D. Buy a term insurance plan now!
View Plans

Best Endowment Plans In India

Updated On Sep 28, 2021

Traditional insurance plans are made up of endowment insurance plans. It provides insurance coverage to the policyholder for the duration of the policy and then pays the policyholder a substantial quantity of money at the end of the term. Endowment plans are for investors who don't need big returns but want to know what they'll get at the end of the policy term. They are good long-term investment vehicles that payout large sums at maturity.

Endowment plans perform best when invested for 15 to 20 years since the accumulation period is longer, resulting in a large maturity amount at the conclusion of the policy term.

The maturity amount can be used to fund big expenses such as a child's higher education or marriage, or it can even be used to fund an amount that will be handy when you are nearing retirement. In addition to the Sum Assured, Endowment Plans provide Guaranteed Additions and Bonuses, which are added to the policyholder's account each year. These advantages, together with the tax benefits, make this life insurance policy an extremely appealing investment vehicle. 

Best Endowment Plans In India

Here are a few endowment plans you must invest in:

1. Canara Guaranteed Saving Plan

If all due premiums are paid by the maturity date, benefits are guaranteed. If you pay premiums for a limited time, you can acquire life insurance for the rest of your life. Life insurance protects you and your family by giving a lump sum benefit on death, eliminating the need to pay any remaining premiums, and ensuring that benefits are paid at maturity. You have the option of selecting a payment term that is most convenient for you. There are a variety of policy term options available. When you sign up for the High Premium Booster, you will earn additional perks for raising your premium commitment.

2. Guaranteed Milestone Endowment Plan By Aditya Birla Sun Life Insurance 

Aditya Birla Sun Life Insurance Company Limited underwrites this insurance (ABSLI). This is a standard insurance plan that does not need to participate in. Throughout the policy period, all terms and conditions are guaranteed. GST and any other applicable taxes will be charged to your premium (additionally) and levied in accordance with current tax legislation. On the policy issue date, the insurance coverage for the life assured (including children) will begin. 

Two lives, namely yours (primary life assured) and your spouse's (secondary life assured), are protected under the same policy and jointly own the policy under this choice. The applicable sum assured for your spouse will be equivalent to 20% of your applicable sum assured. This option is available at the policy's inception if the primary life assured's age is less than or equal to 50 years and the secondary life assured's age is less than or equal to 50 years.

3. Bharti Axa Super Series Plan

A plan that pays out a lump sum at the end of the premium payment term then increases assured payouts until Maturity then pays out a lump sum at Maturity. From the conclusion of the premium payment term until policy maturity, you'll get cash payouts every year. When your premium payment period ends, you'll get a lump sum cash payout equal to half of the 'Sum Assured on Maturity.' The following year, cash payouts of 12% of the 'Sum Assured on Maturity are made, with future yearly payouts increasing by 3% each year.

You will receive 'Sum Assured on Maturity as well as a Guaranteed Maturity Addition when you reach Maturity. If the policy is still active at the time of maturity, this sum of money can be used to make critical payments such as marriages, education, and so on. 

4. HDFC Sanchay Par Advantage

HDFC Life Sanchay Par Advantage is a life insurance solution that helps you to live a life without compromise while also guaranteeing your family's future and ensuring you leave a legacy for them. Life insurance that protects you up to the age of 100. Depending on your demands, choose between Immediate Income and Deferred Income alternatives. The ability to accumulate survivor benefit payouts with flexibility. The ability to choose the date on which the survivor benefit is paid. Enhanced benefit for insurance with an annual premium of INR 100,0001 or higher.


Endowment plans are a safe and tax-free way to invest your money while also providing insurance coverage. Those who want to save money on taxes but aren't comfortable with mutual funds or other types of investments may find this to be an appealing option. It also encourages long-term savings and guarantees that the money returned at the conclusion of the policy period is substantial.

You may also like to read - How Can Endowment Plans Help In Retirement Planning?

Endowment Plans Or ULIPs? Which Is A Better Option?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Popularly Opted Term Insurance Sum Assured

People Also Read

Must BuyMust Buy

Why to Buy Life Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 1,50,000*
  • Claim support everyday 10AM-7PM
  • 50 Lacs+ happy customers