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IS Term Life insurance better than Endowment Isurance ? |
I invest I other Investment instruments which have high retuns (like stocks) I am looking for Insurance only. Is term insurance better for me than endowment plans? term life = protection against death and permanent disability with zero cash value endowment = saving + protection both serve different purposes for protection only , go for term life as the premiums is low. remember this, stock market may give you a better return but can you beat the market everytime ? It has been proven that people who has a regular and good saving habit have more money from stock player. Do you know that if you save 10 dollar a day with only 6% return anually. you can accumulate 136,000 at the end of 20 years. how many people can fork out 136,000 during retirement? On the other hand endowment policy is capital protected. Your fund is guaranteed at retirement. Make your own judgement Source(s): http://www.einsuran.com Malaysia Insurance Portal Apples and oranges Term life insurance isn't and investment. You have nothing unless you die during the term. Endowment is nothing more than savings account with low interest. possibly combined with a term plan in it. Jest buy rental property or something. It pays more. first u should know the difference between term assurance & the endowment assurance. term assurance is the product which the policyholder will be provided with death benefits. i.e, policy holder will receive the benefits, only if the policyholder dies within the term. so there wont be any maturity benefits. but in the endowment assurance, the policyholder will be provided with both death benefit & survival benefits(maturity benefit). so, if u survive till the end of the term, then u wont get anything in return in the term assurance. if u want to invest the money in the insurance, better u invest in ULIP (unit linked insurance policy), where u can get high return. but it is some what less riskier than investing directly in share market. any way both will be invested in share market. but here in ULIP, they diversify the investment. and they will select the less riskier one. They both have a different purpose al togather. Endowment is for a specific purpose like education of children or marriage or buying something( what ever it canbe). So it will mature on a particular date. Whether the person is there or not the ambiton will be fulfilled. eg. if you are saving 1 lac for your child 10 years from now..exactly on that date your child will have it, irrespictive of your pressence. life insurance is basically for you or your family. In case you live long, it can be used for your living without compromising on your life style. In other case you family will continue the same lifestyle.(life insurance may not be able to replace you but it will surely replace the money you could have earned for your family) |
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