| Life insurances are mostly designed for long term, | | | | along with the entire bonus accumulated upon the |
| some of the policies can have refund but some are | | | | maturity of the policy, it is suitable for those who want |
| not, depends on which policy you purchase. For | | | | coverage and at the same time can have big saving. |
| example term life insurance has no cash value, it is | | | | Different types of Endowment Life Insurance |
| designed solely for life protection, upon the maturity the | | | | Endowment plan is categorized as full endowment, |
| buyer receives no refund, and all the premiums paid will | | | | modified endowment, low cost endowment and traded |
| not get back. Whole life insurance has cash value, but | | | | endowment; it is advisable to find out which product is |
| it has no maturity, it is a life-long investment. | | | | suitable for you. |
| Some people want to have protection and have | | | | Surrender of policy |
| saving at the mean time; endowment life insurance is | | | | In the event of surrendering the policy the buyer can |
| the ideal policy, because the buyer can have not only | | | | cash in his money earlier, he will receive the surrender |
| protection, the maturity of the policy is short, and he | | | | value, the payout is determined by the insurance |
| also benefits the interest and the full amount premium | | | | company, and it depends on how much premium paid. |
| refund upon maturity. | | | | Premium rate |
| An ideal plan for saving | | | | This policy covers the buyer death benefit and has an |
| The premium of this policy is high but the amount | | | | early maturity, therefore the premium is higher than |
| payable is within short term, the policy holder can cash | | | | whole life insurance and the bonus rates lower, and |
| out the money in 10 to 20 years time. This policy | | | | the buyer will receive his premium payments upon |
| provides coverage to the buyer for a specified term | | | | maturity. The maturity ranges from 10 years to 35 |
| and the sum assured is payable to the policyholder | | | | years, the shorter the period the higher the premium. |